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Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Excessive sugarcane price paid to members - sugar to members at ...

Income Tax

April 16, 2019

Excessive sugarcane price paid to members - sugar to members at concessional rates - remanded to AO to determine that it is “Appropriation of profit” or deductible u/s 37 in light of judgment of Supreme Court

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  1. GST Rates - HSN Code - sugarcane procured by the sugar mills which is generally fresh and procured directly from the farm - Fresh or chilled sugarcane, falling under...

  2. Allowability of harvesting and transport expenses paid by the Co-operative Sugar Mills to its farmers / members for purchase of sugarcane - the payment made to sugarcane...

  3. Addition on account of Excessive sugarcane price paid - Difference in price paid to members as well as non-members of Sahakari Sakhar Karkhana - The amount relatable to...

  4. Addition u/s 37 and 40A - distribution of profit in the guise of excessive price paid to the members against purchase of sugarcane - to the extent of the component of...

  5. Levy of purchase tax - Valuation - The Tribunal is justified in imposing the purchase tax on the Assessee Sugar Mill on the entire purchase price including the...

  6. Levy of purchase tax - valuation - The Tribunal is justified in imposing the purchase tax on the Assessee Sugar Mill on the entire purchase price including the...

  7. Classification of goods - Sugarcane Juice - sugarcane juice is produced by way of crushing of sugarcane and hence not produced by farmer. Also process changes it's form...

  8. Business Auxiliary Service - services rendered to sugar factory in relation to harvesting and transportation services of sugarcane - prima facie case is against the assessee - AT

  9. Allowability of business expenditure incurred towards purchase of sugarcane from member farmers' u/s 37(1) - the payment of additional sugarcane price, with the approval...

  10. Disallowance of the assessee's business expenditure claims related to the purchase of sugarcane from member farmers, as well as the treatment of additional sugarcane...

 

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