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2018 (2) TMI 2038 - ITAT PUNEAddition on account of distribution of profit in the garb of payment of additional price for purchase of milk - whether tribunal was justified in law in holding that the payment of rate difference after the closure of the accounting year do not amount to distribution of profit, as the amount to be paid was not out of the profit ascertained at the annual general meeting? - HELD THAT:- The first issue which arises in the present appeal is squarely covered by the order of Hon’ble Bombay High Court in CIT Vs. (1) Solapur Dist. Co-op. Milk Producers and Process Union Ltd [2009 (4) TMI 19 - BOMBAY HIGH COURT] (2) Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd. [2009 (4) TMI 19 - BOMBAY HIGH COURT] which has been applied in assessment years 2007-08 and 2008-09. The year under appeal before us is assessment year 2009-10 and following the same parity of reasoning, we uphold the order of CIT(A) in this regard and dismiss the grounds of appeal No.1 and 2 raised by the Revenue.
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