Sugarcane purchase costs are deductible business expenses; additional payments not profit distribution under tax law.

Sugarcane purchase costs are deductible business expenses; additional payments not profit distribution under tax law. https://www.taxtmi.com/highlights?id=74145 Allowability of business expenditure incurred towards purchase of sugarcane from member farmers' u/s 37(1) - the payment of additional sugarcane price, with the approval of the managing committee of the assessee for payment of sugarcane is not distribution of profit. - AT en-us Sat, 13 Jan 2024 13:16:54 +0530 Sat, 13 Jan 2024 13:16:54 +0530 TaxTMI RSS Generator Sugarcane purchase costs are deductible business expenses; additional payments not profit distribution under tax law. https://www.taxtmi.com/highlights?id=74145 Allowability of business expenditure incurred towards purchase of sugarcane from member farmers' u/s 37(1) - the payment of additional sugarcane price, with the approval of the managing committee of the assessee for payment of sugarcane is not distribution of profit. - AT Highlights Income Tax Sat, 13 Jan 2024 13:16:54 +0530 https://www.taxtmi.com/highlights?id=74145