ITAT remanded matter to AO to allowed deduction for price paid for sugarcane under Sugar Cane (Control) Order, 1966

IT : Where assessee, a co-operative society manufacturing sugar and byproducts, made payments to sugarcane suppliers of sugarcane price over and above SMP/FRP declared by Central Government for particular crushing season and Assessing Officer held that payment of price over and above to sugarcane growers was done with ulterior motive and it is diversion of income in guise of higher sugarcane price over and above SMP/FRP and, thus,

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