In her Budget 2023-24 speech, Finance Minister Nirmala Sitharaman proposed that for sugar co-operatives, for years prior to A.Y. 2016-17, if any deduction claimed for expenditure made on purchase of sugar has been disallowed, an application may be made to the Assessing Officer, who shall recompute the income of the relevant previous year after allowing deduction up to the price fixed or...
