RAVALGAON SUGAR FARM LTD. vs COMMISSIONER OF INCOME TAX

Neeta Sawant INCOME TAX APPEAL-592-2003-FC IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 592 OF 2003 The Ravalgaon Sugar Farm Ltd. ….Appellant : Versus : Commissioner of Income Tax, City-II, Aayakar Bhavan, Mumbai ….Respondent Mr. S. Sriram with Mr. B. V. Jhaveri & Mr. Dinesh Kukreja, for Assessee- Appellant. Ms. Samiksha R. Kanani, for Revenue-Respondent. CORAM : ALOK ARADHE, CJ. & SANDEEP V. MARNE, J. Judgment Reserved on : 31 July 2025 Judgment Pronounced on : 5 August 2025 JUDGMENT : (Per Sandeep V. Marne, J.) 1) The Assessee has preferred this Appeal under Section 260A of the Income Tax Act, 1961 (the Act) assailing the order dated 24 January 2003 passed by Income Tax Appellate Tribunal, Mumbai Bench (ITAT) in I.T.A. No. 871/Bom/94, by which the Appeal preferred by the Assessee has been dismissed. The Assessee had challenged the order of Commissioner of Income Tax (Appeals) upholding the order of the Assessing Officer deducting the additional ______________________________________________________________________________ Page No.1 of 25 5 August 2025 Neeta Sawant INCOME TAX APPEAL-592-2003-FC cane price of Rs.78,86,857/- fr