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2016 (3) TMI 357 - ITAT JAIPUR

2016 (3) TMI 357 - ITAT JAIPUR - TMI - Addition on account of DCS development expenses - Held that:- As decided in assessee's own case one of the objectives of the respondent - assessee is to carry out such activities as may be conducive for the promotion of the dairy industry and improvement and protection of milk animals and in pursuance of the said objective, it has to run technical administrative, financial and other necessary sport to the societies. The respondent - assessee collects milk f .....

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d incurred for commercial expediency. It is also a finding of fact that the respondent - assessee has also charged ‘Cess’ @ 1% of the sale value from milk unions for which receipts of ₹ 9,12,27,490/- have been offered as income of the assessee and when income has been offered by the respondent - assessee then the said expenditure is certainly allowable as business expenditure. - Decided in favour of assessee - ITA No. 739/JP/2013, CO No. 56/JP/2013 - Dated:- 4-12-2015 - R. P. Tolani, JM An .....

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development expenses ignoring the relevant facts of the case that these expenses was to be adjusted first out of unutilized grant received by the assessee for this purpose thus making the order to be perversed. Assessee's ground in C.O. No.56/JP/2013 "The ld. CIT(A) has erred on facts and in law in upholding the validity of order passed u/s 147 of the Act." 2.1 The ld. Counsel for the assessee at the outset contends that the issue on merit stands covered in favour of the assessee .....

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mount for increasing the procurement of milk and protecting the dairy farmers from the threat of the private milk vendor, launched various schemes from time to time for inducing more and more milk producers to join milk development cooperative societies in furtherance of its fundamental objectives, which in our opinion, is certainly in the nature of business expenses. It is also a finding of fact that one of the objectives of the respondent - assessee is to carry out such activities as may be co .....

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