No addition to income for festival discount given, if the same is Practice in Industry

 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 t...