The Commissioner of Income-tax-I Pune v. Indapur Sahkari Sakhar Karkhana Ltd
[Citation -2013-LL-1018-103]
| Citation | 2013-LL-1018-103 |
|---|---|
| Appellant Name | The Commissioner of Income-tax-I Pune |
| Respondent Name | Indapur Sahkari Sakhar Karkhana Ltd. |
| Court | SUPREME COURT |
| Relevant Act | Income-tax |
| Date of Order | 18/10/2013 |
| Judgment | View Judgment |
| Keyword Tags | overriding title |
| Bot Summary: | 21.10.2011 while issuing notice this Court has observed as follows: Issue notice as to why the matter should not be remitted to the concerned Commissioner of Income Tax in terms of the order of this Court in the case of Deputy Commissioner of Income Tax, Nashik vs. Shri Satpuda Tapi Parisar SSK Limited, reported in 326 ITR 42. In the aforesaid decision this Court, inter alia, has observed as under: In a given case, if the assessee has made a provision in its accounts, then the assessing officer shall enquire whether such provision is made out of profits or from gross receipts and whether such differential payment is relatable to the cost of the sugarcane or whether it is relatable to the division of profits amongst the members of the Society One of the points which will also arise for determination by the assessing officer will be on the theory of overriding title in the matter of accrual or application of income. In each of these cases, the assessing officer will decide the question as to whether the obligation is attached to income or to its source. In view of the above, the impugned judgment and order passed by the High Court is set aside and the matter is remanded back to the concerned Commissioner of Income Tax in terms of the order of this Court in the case of Deputy Commissioner of Income Tax,. 29793/2011 C.I.T-I PUNE Petitioner(s) VERSUS INDAPUR SAHKARI SAKHAR KHARKHANA LTD. Respondent(s) for c/delay in filing SLP and office report) Date: 18/10/2013 This Petition was called on for hearing today. For Respondent(s) UPON hearing counsel the Court made the following ORDER Though served, no one appears for the respondent. The Civil Appeal is disposed of in terms of the signed order. |