High Court of Bombay Examines Income Tax Appeal on Section 32AB Deduction for Additional Sugarcane Price Paid After Account Finalization. Assessee Contends That Profits Under Section 32AB Must Follow Audited Profit and Loss Account Under Parts II and III of Schedule VI of Companies Act, 1956, While Revenue Deducts Post-Year Additional Cane Price in Computing Deduction.
5 Aug 2025The High Court of Bombay heard an income tax appeal filed by a manufacturing company engaged in producing toffees, confectionery and sugar candy again...




