Itxa/978/2004 Of The Commissioner Of Income Tax v. Shri Shankar Ssk Ltd
High Court
16 Jul 2007 In favour of: Revenue
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Itxa/978/2004 Of The Commissioner Of Income Tax v. Shri Shankar Ssk Ltd
Date of order
16 Jul 2007
Assessment year(s)
—
Outcome
Allowed
Case summary
In Itxa/978/2004 Of The Commissioner Of Income Tax v. Shri Shankar Ssk Ltd, the High Court (2007) allowed the appeal. The decision went in favour of the Revenue.
Issue: The question of law as formulated in this appeal reads as under : 2 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 : a] C.M.
Decision: The appeal is partly allowed.
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.978 OF 2004
The Commissioner of Income Tax .. Appellant.
V/s.
Shri Shankar 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 :
2
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 :
a] C.M. Relief Fund Rs.2,37,085/-
b] Hutment fund Rs.2,37,087/-
c] Cane development fund Rs.19,09,365/-
d] Flood relief fund Rs.4,56,325/-
e] Small savings Rs.4,09,100/-
4. In view of the aforesaid judgments, insofar
as item No.c is concerned, the appeal is remanded
back to the Tribunal for denovo consideration in
accordance with law.
4. Insofar as item Nos.a, b, d and e are
concerned, they are to be treated as ‘not income in
the hands of the assessee’.
5. Impugnmed order, to that extent, is set
aside. The appeal is partly allowed. There shall be
no order as to costs.
(F.I. REBELLO, J.)
(J.P. DEVADHAR, J.)
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