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2023 (6) TMI 1143 - SCH - Income TaxAppropriation of profit or Business Expenditure - amount paid to the respective milk suppliers for the quantity of milk supplied and in terms of the quality supplied - Finding recorded by the ITAT as well as the High Court that the amount was paid, may be, at the end of the previous year only to the milk suppliers, which was for the quantity of milk supplied and in terms of the quality supplied and the amount was not paid to all the shareholders and not paid out of the profits ascertained at the Annual General Meeting, both the ITAT as well as the High Court have rightly deleted the addition made by the AO - HELD THAT:- In the facts and circumstances of the case, the amount paid to the milk suppliers and also to non-members cannot be said to be appropriation of profit. Therefore, no error has been committed by the High Court. We are in complete agreement with the view taken by the High Court taking into consideration the finding recorded by the ITAT as well as the High Court and the observations made by the High Court in para 14 of the impugned judgment and order. In view of the above and for the reasons stated above, the present Appeal deserves to be dismissed
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