Itxa v. The Deputy Commissioner Of Income-Tax

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.306 OF 2007 INCOME TAX APPEAL NO.306 OF 2007 Padmashri Dr.Vitthalrao Vikhe Patil Sahakari Sakhar Karkhana Ltd. ..Appellant. V/s. The Dy. Commissioner of Income Tax & Anr. ..Respondents. Mr.B.M.Chatterjee with Ms.Poonam Bhosale for appellant. Mr.S.N.Inamdar with A.K.Jasani for respondent. CORAM : F.I.REBELLO AND CORAM : F.I.REBELLO ANDJ.P.DEVADHAR, JJ. DATED : 25TH JULY, 2007. J.P.DEVADHAR, JJ. DATED : 25TH JULY, 2007. P.C. :- P.C. :- 1. This Appeal is filed by the appellant / assessee against the order of the I.T.A.T., Pune stating that the following question of law arise out of the order of the Tribunal :- " Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that non refundable deposit and interest on non refundable deposits are income and, therefore, taxable ? " 2. Counsel on both sides agree that the aforesaid question is answered by this Court in the case of Commissioner of Income-Tax V/s. Malegaon Sahakari Commissioner of Income-Tax V/s. Malegaon SahakariSakhar Karkhana Ltd. reported in 279 of I.T.R. 19 in Sakhar Karkhana Ltd. - = : 2 : = - favour of the assessee and against the revenue. 3. In this view of the matter, the question is answered in favour of the assessee and against the revenue. 4. Appeal is accordingly allowed with no order as to costs. (F.I.REBELL0, J.) (F.I.REBELL0, J.) (F.I.REBELL0, J.) (J.P.DEVADHAR, J.) (J.P.DEVADHAR, J.)