THE MOTOR & GENERAL FINANCE LT vs. COMMISSIONER OF INCOME TAX VI
ITA/123/2007HC Delhi18 Feb 2011
Bench: CASES PERTAINING TO SPECIAL BENCHES
…remained unclaimed with the assessee for a longtime and the claim of such money becomes barred by limitation. The Court has held that the ratio of CIT Vs. Kesaria Tea Co. Ltd. \QOO2) 254 ITR 434 I and of the decision in Cffl Vs. Sugali Swgar Warks (P) I-td, | 236 ITR 5181 related to statutory liabilities. . Further, in the following cases, the amounts transferred to the profit and loss account were held to be chargeable receipts of the assessee from trade:- (a) (b) (c) (d) CIT Vs, AVM , 146 ITR 355. Punjab Steel Scrap Merchants Ass. Vs. ClT, 43 ITR 164. CIT Vs. Batlibol, 149 ITR 664. Punjab Distilling lndustries…