M/S Cmdc Icpl Coal Limited, Raipur (Cg) vs. The Income Tax Officer, 3(1), Raipur (Cg)
In the result, appeal of the assessee in ITA No
ITA 350/BIL/2016[2012-13]Status: DisposedITAT Raipur09 May 2022AY 2012-13
Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 348, 349 & 350/Rpr/2016 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2012-13 Cmdc Icpl Coal Limited House No.382, Sunder Nagar, Raipur-492 013 (C.G.) Pan : Aadcc4374P .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer 3(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By : Shri R.B Doshi, Ca Revenue By : Shri G.N Singh, Dr
For Appellant: Shri R.B Doshi, CAFor Respondent: Shri G.N Singh, DR
Section 139Section 143(3)Section 147Section 148
…also did not give any credence to the accounting treatment given to the interest received by the assessee in that case. The Hon’ble SC expressed their agreement to this view. On similar issue, Hon’ble M.P High Court in the case of Bharat Oman Refinery Vs. CIT 356 ITR 399 has held that the interest earned by investing the surplus share money in bank deposits is taxable as income from other sources. Similar view has been taken by the division bench of Bombay High Court in the case of Shri Krishna Polyester Ltd. Wherein it has been held that interest on short term deposit with bank by investing surplus fund accrued…
