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2016 (1) TMI 1391 - ITAT PUNEDisallowance of Sugarcane Purchases payments - compulsions requiring the appellant to pay farmers a competitive sugarcane price of ₹ 1400/Mt - Held that:- As relying on COMMISSIONER OF INCOME-TAX VERSUS EXXON MOBIL LUBRICANTS P. LTD. [2010 (9) TMI 36 - DELHI HIGH COURT] the amount of ₹ 2,33,30,414/- paid by the assessee towards the additional cost for procurement of sugarcane in season 2008-09 crystallized when the Board of Directors decided to pay the additional cost to the farmers. The management of the assessee company could not have ascertained this expenditure in assessment year 2009-10 - merit in the appeal of the assessee. The appeal of the assessee is accepted to the extent of ₹ 2,33,30,414/- paid towards the additional cost for procurement of sugarcane. - decided partly in favour of assessee.
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