What did the Tribunal hold?

The Tribunal set aside the issue of sale of sugar at concessional rate for fresh adjudication by the assessing authority. For the other expenses, the Tribunal reduced the disallowance from 15% to 5%.

The assessee appealed against the disallowance of Rs. 84,89,382/- on account of sale of sugar at a concessional rate and other expenses. The lower authorities had disallowed these amounts.

What were the issues?

Whether the sale of sugar at a concessional rate is a valid disallowance and the quantum of disallowance for various expenses.

Bhima Shakari Sakhar Karkhana… vs DCIT | ITAT Pune 2022

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

Before: SHRI S.S. GODARA & DR. DIPAK P. RIPOTE

For Appellant: Shri Hanmant Dhavle

For Respondent: Shri M.G. Jasnani

आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: अपीऱधर्थी / The Appellant; 1. प्रत्यर्थी / The Respondent; 2. 3. The CIT(A)-7, Pune 4. The Pr.CIT-6, Pune 5. विभागीय प्रविविवि, आयकर अपीलीय अविकरण, पुणे “B” / DR „B‟, ITAT, Pune 6. गार्ड फाईल / Guard file आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 19-07-2022 Sr.PS 2. Draft placed before author 28-07-2022 Sr.PS 3. Draft proposed & placed before the JM second member 4. Draft discussed/approved by Second JM Member. 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

BHIMA SHAKARI SAKHAR KARKHANA LTD,SOLAPUR vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14, PUNE

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What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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