Additional price payable to cultivators of sugarcane allowed as deduction in year in which additional liability arises.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... I) dated 30th August 1974 wherein it was clarified that the additional price payable to the cultivators of sugarcane is to be allowed as deduction in the year in which the additional liability arises and not in the year to which it relates because the liability is ascertained only on the date of the order of the price fixation authority. 2. While the above view holds good in case of sugarcane pu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he enhanced price of self-grown sugarcane, the Board are advised as under:- i) If the assessment proceedings have not been completed by the I.T.O. a revised return claiming the deduction at the revised price can be filed by the assessee and the ITO would consider such claims. ii) If the assessment proceedings are pending with appellate authorities such a claim can be made by the assessee befor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X