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2019 (5) TMI 780 - AT - Income TaxAddition towards excessive sugarcane price paid to members as well as non-members of the assessee - Addition u/s 40A - HELD THAT:- Both the sides are unanimously agreeable that the extant issue of deduction for payment of excessive price for purchase of sugarcane, raised in the appeal under consideration, is squarely covered by the aforesaid judgment in TASGAON TALUKA S.S.K. LTD. [2019 (3) TMI 321 - SUPREME COURT] remit the matter to the file of the A.O for deciding it afresh as per law in consonance with the articulation of law by the Hon’ble Supreme Court in the aforenoted judgment. It is made clear in so far as the non-members are concerned, the case will be considered afresh by the AO by applying the provisions of section 40A(2) of the Act, as has been held by the Hon’ble Supreme Court supra. Ground allowed for statistical purposes. Giving of sugar to members and non-members at concessional rates - HELD THAT:- It would be just and fair if the impugned order on this score is set aside and the matter is restored to the file of AO, instead of to the CIT(A), for fresh consideration as to whether the difference between the average price of sugar sold in the market and that sold to members at concessional rate is appropriation of profit or not, in the light of the directions given in KRISHNA SAHAKARI SAKHAR KARKHANA LTD. [2012 (11) TMI 669 - SUPREME COURT] - Issue allowed for statistical purposes.
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