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2005 (8) TMI 66 - HC - Income TaxSugar industry - "Whether, Tribunal relying upon the Special Bench in the case of Shri Chartrapati Sahakari Sakhar Karkhana Ltd. was right in deleting the additions made on account of non-refundable deposits, C.M.'s Relief Fund, Area Development Fund, Cane Development Fund, Hutment Fund, Education Fund, Shri Y.B. Chavan Memorial Trust, and interest on non-refundable deposits by holding that various funds/deposits collected by the assessee-society out of sugarcane purchase price payable to the cane growers are not the trading receipts of the assessee?" - Appeal is partly allowed - The order of the Income-tax Appellate Tribunal to the extent of non-refundable deposits, interest on non-refundable deposits, C.M. Relief Fund, Hutment Fund, Education Fund and Shri Y.B. Chavan Memorial Trust Fund is maintained. The impugned order of the Appellate Tribunal to the extent of Cane Development Fund and Area Development Fund is set aside
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