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The Commissioner of Income-Tax, Kolhapur Versus Shriram Sahakari Sakhar Karkhana Ltd.

2015 (5) TMI 683 - BOMBAY HIGH COURT

Additions on account of non refundable deposits, interest on non refundable deposit, the Indira Vikas Awas Nidhi, Earthquake fund, Chief Minister's fund, Area Development fund, Cane Development fund, Small Savings etc. - Held that:- The non refundable deposits and interest thereon cannot be added to the income of the Sahakari Karkhana. To that extent the Revenue's stand has been negatived by this Court.

Indira Awas Nidhi and Earthquake fund, the matter has been restored back to the T .....

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i Chhatrapati Sahakari Sakhar Karkhana Limited (2000 (5) TMI 22 - BOMBAY High Court).

Area Development fund is concerned, the matter will have to go back to the Tribunal for being decided afresh and in the light of the authoritative pronouncement of the Division Bench.

Cane development fund is a fund which has been said to be capable of treated as an income of the sugar factory and, therefore, the issue stands answered in favour of the Revenue and against the assessee. Se .....

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vision Bench judgment in the case of Malegaon Sahakari Sakhar Karkhana Limited (supra). - Income Tax Reference No. 25 of 1999, 30 of 1999, 36 of 1999, 58 of 1999, 70 of 1999, 90 of 1999, 201 of 1999 - Dated:- 7-5-2015 - S. C. Dharmadhikari And A. K. Menon,JJ. For the Appellant : Mr Suresh Kumar For the Respondents : Mr P C Tripathi i/b Mr Mihir Naniwadekar ORDER P.C. 1. The respondent-assessee before us is a cooperative sugar factory and functional at Phalton District Satara. The Tribunal passed .....

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of the Supreme Court decision in the case of Bazpur Co-operative Sugar Factory Limited, 177 ITR 469,these additions were deleted by the Commissioner. In appeal against the Commissioner's order the Tribunal followed the decision of its special bench in the case of Shri Chhatrapati Sahakari Sakhar Karkhana Limited 245 ITR 498. The decision in Shri Chhatrapati Sahakari Sakhar Karkhana Limited has been challenged before this Court and a Division Bench of this Court held that several such funds .....

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