https://www.taxtmi.com/caselaws?id=470768 Sugarcane purchased predominantly from non-members and gate-cane suppliers is treated as a commercial transaction rather than additional cane price paid to member-growers under the statutory price regime. Deductibility of expenditure exceeding the Fair and Remunerative Price depends on whether the purchase price was commercially expedient and competitive in the local market. Comparable prices paid by nearby sugar factories may support the claim, subject to verification that the stated comparable price was accepted. If that verification confirms competitiveness, the full sugarcane purchase expenditure is allowable as business expenditure. en-us Thu, 01 Aug 2019 00:00:00 +0530 Fri, 07 Aug 2026 17:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470768 Sugarcane purchased predominantly from non-members and gate-cane suppliers is treated as a commercial transaction rather than additional cane price paid to member-growers under the statutory price regime. Deductibility of expenditure exceeding the Fair and Remunerative Price depends on whether the purchase price was commercially expedient and competitive in the local market. Comparable prices paid by nearby sugar factories may support the claim, subject to verification that the stated comparable price was accepted. If that verification confirms competitiveness, the full sugarcane purchase expenditure is allowable as business expenditure. Case-Laws Income Tax Thu, 01 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470768