https://www.taxtmi.com/caselaws?id=469792 Excess sugarcane price paid by a co-operative sugar factory under a State Government price fixation was treated as deductible under section 36(1)(xvii), because the State-fixed price formed part of the legally payable purchase price and was not disallowed merely for exceeding the Central Fair and Remunerative Price. The Maharashtra Regulation of Sugarcane Price (Supplied to Factories) Act, 2013 and CBDT Circular No. 18/2021 support the view that "price fixed or approved by the Government" includes State-level price fixation through an enactment, order or similar instrument. The addition made by the Assessing Officer was deleted. en-us Mon, 10 Mar 2025 00:00:00 +0530 Fri, 03 Jul 2026 19:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469792 Excess sugarcane price paid by a co-operative sugar factory under a State Government price fixation was treated as deductible under section 36(1)(xvii), because the State-fixed price formed part of the legally payable purchase price and was not disallowed merely for exceeding the Central Fair and Remunerative Price. The Maharashtra Regulation of Sugarcane Price (Supplied to Factories) Act, 2013 and CBDT Circular No. 18/2021 support the view that "price fixed or approved by the Government" includes State-level price fixation through an enactment, order or similar instrument. The addition made by the Assessing Officer was deleted. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469792