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No addition to income for festival discount given, if the same is Practice in Industry
Case Law Details
- Case Name
- Commissioner of Income-tax, Bombay Vs Krishna Sahakari Sakhar Karkhana Ltd. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
SUPREME COURT OF INDIA
Commissioner of Income-tax, Bombay
Versus
Krishna Sahakari Sakhar Karkhana Ltd.
SPECIAL LEAVE PETITION (CIVIL)
APPEAL NO. 8590 OF 2010 AND OTHERS
CIVIL APPEAL NO. 6949 OF 2012 & OTHERS
SEPTEMBER 25, 2012
ORDER
Heard learned counsel on both sides.
Delay condoned.
Leave granted.
The assessee(s) is a Co-operative Society engaged in the business of production of sugar from sugarcane and sale thereof. Assessee(s) buys sugarcane from its Members. Every month and on Diwali, assessee(s) sells certain quantity of sugar (final product) at concessional rate to farmers/cane gr...
