SHRI GANESH SSK LTD,AHMEDNAGAR vs. DCIT AHMEDNAGAR CIRCLE , AHMEDNAGAR

ITA 2580/PUN/2024Status: DisposedITAT Pune31 July 2025AY 2011-12Bench: SHRI R. K. PANDA (Vice President), MS. ASTHA CHANDRA (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal restored both issues (excess cane price and sale of sugar at concessional rate) back to the Assessing Officer for fresh adjudication. For the excess cane price, it directed consideration in light of Section 155(19) of the Income Tax Act. For the sugar sale, it directed the AO to consider specific documents, the State Government's GR, and calculate differences based on levy price instead of market price.

What were the facts?

The assessee, a cooperative society engaged in manufacturing sugar, filed its return declaring a loss. The Assessing Officer (AO) made additions on account of excess sugarcane payment to farmers and sale of sugar at concessional rates. The CIT(A) partly allowed the appeal regarding the sugar sale but restored the excess cane price issue to the AO.

What were the issues?

Whether additions made by the AO on account of excess cane price paid to farmers and sale of sugar at concessional rates are justified, and whether the AO correctly calculated the difference based on market price.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 154,Section 40A(2),Section 155(19)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & MS. ASTHA CHANDRA

For Appellant: Shri Hanmant Dattatray Dhavle
For Respondent: Shri Amol Khairnar, CIT-Dr

PER R.K. PANDA, VP:

This appeal filed by the assessee is directed against the order dated 25.10.2024 of the Ld. CIT(A) / NFAC, relating to assessment year 2011-12. 2. Facts of the case, in brief, are that the assessee is a cooperative society engaged in the business of manufacturing and sale of white sugar, compost and its by-product. The assessee society filed its return of income on 27.09.2011 declaring a net loss of Rs.3,33,44,202/- after claiming set-off of unabsorbed loss. The Assessing Officer vide order u/s 143(3) of the Act completed the assessment for the year under consideration by reducing the loss of the company from Rs.3,33,44,202/- to income of Rs.9,66,93,983/- which was then rectified u/s 154 of t

The order continues below.

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