Amendment in section 155(19) to be considered while dealing with excess sugar cane price above FRP

Padmashri Dr. D.Y. Patil Sahakari Sakhar Karkhana Ltd. Vs ACIT (ITAT Pune) ITAT Pune held that excess sugar cane prices over and above the Fair and Remunerative Price (FRP) fixed by the Government is to be determined as per latest statutory amendment in Section 155(19) of the Income Tax Act. Facts- Sole substantive grounds in the appeal is challenging correctness of both the learned lower authorities action disallowing its alleged sugar cane purchase price paid to the cane growers in excess of the fair and remunerative price, “FRP” involving Rs.2,75,00,238/- and Rs.16,63,46,871/- and sugar...