The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that price incurred in excess of fair and remunerative price (FRP) by sugar cooperatives for the sugarcane purchased is allowable as per the latest amendments under Section 155(19) of the Income Tax Act. Assesses,D.Y. Patil Sahakari Sakhar Karkhana Ltd had challenging correctness of the…
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