Itxa/976/2004 Of The Commissioner Of Income Tax v. Siddheshwar Ssk Ltd
High Court
16 Jul 2007 In favour of: Assessee
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Itxa/976/2004 Of The Commissioner Of Income Tax v. Siddheshwar Ssk Ltd
Date of order
16 Jul 2007
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Itxa/976/2004 Of The Commissioner Of Income Tax v. Siddheshwar Ssk Ltd, the High Court (2007) dismissed the appeal. The decision went in favour of the assessee.
Issue: The question of law as formulated in this appeal reads as under : Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in upholding order of CIT (Appeal) deleting the additions made by the assessing officer in respect of the following C.M.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.976 OF 2004
The Commissioner of Income Tax .. Appellant.
V/s.
Shree Sidheshwar SSK Ltd., .. Respondent.
Mr.B.M. Chatterjee with Mrs.P.P. Bhosale i/by
Pankaj Kapoor for the appellant.
Mr.S.N. Inamdar with Mr.A.K. Jasani for the
respondent.
CORAM : F.I. REBELLO &
J.P. DEVADHAR, JJ.
DATED : 16TH JULY, 2007.
P.C. :
1. Admit. Heard forthwith.
2. The issue in this appeal is covered by the
judgment of the Supreme Court in the case of
Siddheshwar Sahakari Sakhar Karkhana Limited V/s.
CIT and CIT V/s. Shri Chatrapati Sahakari Sakhar
Karkhana Limited reported in [2004] 270 ITR 1 (SC) as
followed by this Court in the case of CIT V/s.
Malegaon Sahakari Sakhar Karkhana Limited reported in
[2005] 279 ITR 19 (Bom).
3. The question of law as formulated in this
appeal reads as under :
Whether on the facts and in the circumstances
of the case and in law, the Tribunal is right
in upholding order of CIT (Appeal) deleting
the additions made by the assessing officer
in respect of the following
C.M. Relief Fund - Rs.2,17,221/-
4. In view of the aforesaid judgments, C.M.
Relief Fund is to be treated as ‘not income in the
hands of the assessee’.
5. The appeal is dismissed. There shall be no
order as to costs.
(F.I. REBELLO, J.)
(J.P. DEVADHAR, J.)
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