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Bombay High Court Dismisses Revenue's Appeals in Cooperative Sugar Factory Tax Deduction Cases. Provision for Contribution to Research Institute Not Allowable Under Section 35(1) Without Actual Payment; Concessional Sugar Sale to Members Not Subject to Section 40A Addition.

The case involves three tax appeals filed by the Commissioner of Income Tax against cooperative sugar factories. The common question of law was whethe...

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Bombay High Court Partially Allows Appeal for Enhanced Compensation in Land Acquisition Case — Market Value of Irrigated Land Fixed at Rs.1,50,000 per Hectare. Land Acquisition Act, 1894 — Classification of land into dry/irrigated categories set aside; compensation for all 475 orange trees awarded.

The appellant, Liladhar s/o Pandurangi Pohane, owned agricultural land bearing survey No.10 admeasuring 7.35 hectares at village Pimpalgaon, Tahsil Ar...

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High Court of Bombay Enhances Compensation for Land Acquisition in Buldana District — Market Value Determined Based on Sale Deeds and Potential for Development. The Court held that the Reference Court erred in not considering potential value and comparable sale instances, and compensation was enhanced.

The judgment pertains to multiple first appeals arising from land acquisition proceedings for the purpose of construction of a percolation tank at vil...

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Bombay High Court Upholds ITAT Decision on Non-Refundable Deposits Not Being Trading Receipts in Sugar Cooperative Case. Funds collected from sugarcane purchase price held not to be trading receipts following Supreme Court precedent in Bazpur Co-op. Sugar Mills Ltd.

The case involves a reference under the Income Tax Act, 1961, by the Revenue against the decision of the Income Tax Appellate Tribunal (ITAT) in favor...