M/S CHATTA SUGAR CO. LTD,MATHURA vs. A.C.I..T CIRCLE-3, MATHURA

In the result, the appeal of the assessee is allowed

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh[Assessment Year: 2009-10]

253 (SC) and the decision of Merino Ply and Chemicals Ltd. vs CIT (1994) 209 ITR 508 (Cal) and observed that in this case the grant received by the assessee was to discharge its trading liability and thus it constituted trading receipt and not capital receipts as claimed by the assessee. The AO held that the subject receipt was clearly

SARITA AGRAWAL,GWALIOR vs. ACIT, GWALIOR

In the result, appeal of the assessee is allowed for statistical purposes