CIT v. Pandavpur Sahakara Sakkara Kharkhane Ltd.

198 ITR 690High Court1992#5448 most cited

What is CIT v. Pandavpur Sahakara Sakkara Kharkhane Ltd. authority for?

Amounts set apart and meant for utilization only as per the directions of the State Government represent a diversion of income and are not liable to tax in the hands of the assessee.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2023.

Also referred to as

CIT v Pandavpur Sahakara Sakkara Kharkhane Ltd · diversion of income · statutory obligation · not liable to tax · State Govt directions · 198 ITR 690

Issues it is cited on

section 33acsection 80hhesection 32asection 117section 210section 4asection 74section 73section 72section 115jasection 288section 80h

Judgments citing CIT v. Pandavpur Sahakara Sakkara Kharkhane Ltd.

Srei Infrastructure Finance Ltd

The appeal is dismissed

ITA/371/2012HC Delhi13 Feb 2015
Section 260ASection 32

…ar Mills Ltd 2015:DHC:1459-DB ITA Nos. 371/2012 & 372/2012 Page 8 of 24 (1998) 229 ITR 285, Commissioner of Income-tax Vs. Pandavapura Sahakara Sakkare Kharkane Ltd. (1992) 198 ITR 690, Somaiya Orgeno- Chemicals Ltd. Vs. Commissioner of Income-tax (1995) 216 ITR 291. On the issue of Debt Redemption Reserve, again reliance is placed upon decision in National Rayon Corporation (supra) to the effect that the amount was neither a reserve nor a provision for unascertained liability so as to attract clause (b) or (c) of Explanat…