THE MALEGAON SAHAKARI SAKHAR KARKHANA LTD,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14, PUNE

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ITA 1790/PUN/2018Status: DisposedITAT Pune05 August 2022AY 2015-168 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the issue of sale of sugar at a concessional rate should be remanded to the Assessing Officer for fresh consideration. However, the provision for contribution to Vasantdada Sugar Institute was allowed as a deduction.

What were the facts?

The assessee sold sugar to its members at a concessional rate, and also made a provision for contribution to Vasantdada Sugar Institute. The Assessing Officer disallowed these amounts.

What were the issues?

Whether sale of sugar at concessional rates to members amounts to appropriation of profit, and whether a provision for contribution to a research institute is allowable as a deduction.

Which sections of the Income-tax Act were involved?

Section 35(1)(ii),Section 143(3)

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Cases cited in this judgment(1)Show list

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Income Tax Appellate Tribunal, “A”

Before: SHRI S.S.GODARA & DR. DIPAK P. RIPOTE

For Appellant: Shri Hanmant D Dhavle – AR
For Respondent: Shri S P Walimbe - DR
Hearing: 29/06/2022Pronounced: 04/07/2022

आदेशक��ितिलिपअ�ेिषत / Copy of the Order forwarded to : अपीलाथ� / The Appellant. 1. ��यथ� / The Respondent. 2. 3. The CIT(A), concerned. 4. The Pr. CIT, concerned. िवभागीय�ितिनिध, आयकर अपीलीय अिधकरण, “ए” ब�च, 5. पुणे / DR, ITAT, “A” Bench, Pune. गाड�फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER, // TRUE COPY // Senior Private Secretary आयकरअपीलीयअिधकरण, पुणे/ITAT, Pune.

A.Y.2015-16 The Malegaon Sahakari Sakhar Karkhana Ltd., (A)

आयकर अपीलीय अिधकरण “ए” �ायपीठ पुणे म� । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकरअपीलसं. / Assessment Year: 2015-16 The Malegaon Sahakari Sakhar The Deput Commissioner Karkhana Ltd., Vs of Income Tax, Circle-14, AT Post Shivnagar, Tal Baramati, Pune. Dist. Pune – 413 116. PAN: AAATT 2982 L Appellant/ Assessee Respondent /Revenue CORRIGENDUM This corrigendum is being issued to correct the typographical error cause title of First Page of the order of Tribunal dated 04-07-2022, it is mentioned at the Assessee & Revenue Address Columns as : The Malegaon The ACIT, Ahmednagar SahakariSakharKarkhana Ltd., Vs Circle-14, Dyaneshwar Nagar, Post: Bhade, Pune. Sakhar Karkhana, Newasa – 414605. PAN: AAAAS 4092 H Appellant/ Assessee Respondent/ Revenue Instead of the details above, the actual details of Assessee & Revenue address may be read as follows: The Malegaon Sahakari Sakhar The Deput Commissioner Karkhana Ltd., Vs of Income Tax, Circle-14, AT Post Shivnagar, Tal Baramati, Pune. Dist. Pune – 413 116. PAN: AAATT 2982 L Appellant/ Assessee Respondent /Revenue Sd/- Sd/- (SATBEER SINGH GODARA) (DR. DIPAK P. RIPOTE) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; �दनांक / Dated : 5th August, 2022/ SGR*

A.Y.2015-16 The Malegaon Sahakari Sakhar Karkhana Ltd., (A)

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