Additional price payable to cultivators of sugarcane allowed as deduction in year in which additional liability arises.

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Full Text of the Document

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....wherein it was clarified that the additional price payable to the cultivators of sugarcane is to be allowed as deduction in the year in which the additional liability arises and not in the year to which it relates because the liability is ascertained only on the date of the order of the price fixation authority. 2. While the above view holds good in case of sugarcane purchased from the market it ....