KRISHAK BHARATI COOP. LTD. vs. COMMISSIONER OF INCOME TAX
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----------- 28.08.2002
Heard. Admit. The following questions of law are framed for adjudication:
"1. "Whether the Tribunal erred in holding that the Assessing Officer was justified in invoking Section 154 of the Income Tax Act, 1961 and rectifying his order dated 12 May 1995?
Whether while calculating the eligible business profits for the purposes of deduction under Section 80I of the Income Tax Act, 1961 the assessee is entitled to include a sum of Rs.91,32,404, the amount actually contributed in the assessment year 1992-93 to the Cooperative Education Fund under Section 61(1)(b) of the Multi State Cooperative Societies Act, 1984?
Whether the Tribunal was justified in holding that the contribution to the Cooperative Education Fund was not a cess falling within the purview of Section 43B of the Income Tax Act, 1961?"
The appellant shall file within three months ten copies of the cyclostyled paper books, containing all documents on which reliance was placed before the Tribunal, including any order/orders, either in the case of the assessee itself or in case of any other assessee, which has been followed by the Tribunal. The appeal be listed for hearing in the regular course.
D.K. JAIN, J
SHARDA AGGARWAL, J AUGUST 28, 2002 'ss'