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2015 (5) TMI 578 - AT - Income TaxIncome under section 2(24) - contribution in the form of commission" received from Sugar Mills and co-operative cane growers society and "Grants", received from State Government and Central Sugar Cane Committees for specified purposes being "construction of road" and "other development works" in the "assigned area" - Held that:- Since the above Grants or receipts are received by the assessee either from the government or any other agency for a particular purpose and assessee has no independent right over it to use the grant in a manner in which it likes. It has to be utilized for a particular purpose in terms of grants, thus it would not partake the character of income u/s 2 (24) of the Act. Since these arguments are raised first time before the Tribunal, we are of the view that this aspect should be examined by the Assessing Officer while Assessing the income of the assessee. Accordingly, we set aside matter to the file of the Assessing Officer with the direction to the reexamine the claim of the assessee in the light of the new argument - Decided in favour of assessee for statistical purposes.
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