1 IN SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO(S).2478/2006 COMMISSIONER OF INCOME TAX-I. PUNE APPELLANT(S) VERSUS V.V. PATIL SAHKARI SAKHAR KARKHANA LTD. RESPONDENT(S) ORDER Following substantial question of law was raised by Revenue in appeal against judgment of Income Tax Appellate Tribunal: Whether, on facts and circumstances of cases involved herein, various funds/deposits; such as (I) Non-refundable Deposit ('NRD' for short); (ii) C.M. Relief Fund; (iii) Hutment Fund; (iv) Area Development Fund; (v) Education Fund, sometime referred to as Sane Guruji Education Fund and/or Education Fund; Cane Development Fund; (vi) Flood Relief Fund; (vii) Interest on NRD; collected by assessee Karkhana out of sugar cane price payable to cane growers are trading receipts of assessee as held by Supreme Court in case of C.I.T. Vs. Bazpur Cooperative Sugar Factory Ltd., (1988) 172 ITR 321? High Court relying upon its earlier judgment dated 07.01.2002 passed in ITA No. 1160 of 2000 dismissed appeal. Signature Not Verified Mr. Adhyaru, learned senior counsel appearing for Revenue Digitally signed by ASHWANI KUMAR Date: 2017.02.27 has drawn our attention to judgment of this Court rendered 16:29:21 IST Reason: subsequently, in case of Siddheshwar Sahakari Sakhar Karkhana Ltd. vs. C.I.T., Kolhapur & Ors. (2004) 270 ITR 1, where identical 2 question of law came up for consideration and after answering same, this Court had remitted matter to Income Tax Appellate Tribunal for fresh determination in relation to deduction qua Area Development Fund. Following aforesaid judgment, this appeal is allowed and impugned judgment of High Court is set aside. matter is referred back to Income Tax Appellate Tribunal for fresh consideration. J. [A.K. SIKRI] J. [ASHOK BHUSHAN] NEW DELHI; FEBRUARY 22, 2017. 3 ITEM NO.106 COURT NO.8 SECTION IIIA SUPREME COURT OF INDIA RECORD OF PROCEEDINGS Civil Appeal No(s). 2478/2006 COMMISSIONER OF INCOME TAX-I. PUNE Appellant(s) VERSUS V.V. PATIL SAHKARI SAKHAR KARKHANA LTD. Respondent(s) Date : 22/02/2017 This appeal was called on for hearing today. CORAM : HON'BLE MR. JUSTICE A.K. SIKRI HON'BLE MR. JUSTICE ASHOK BHUSHAN For Appellant(s) Mr. Yashyank Adhyaru, Sr.Adv. Mrs. Anil Katiyar,Adv. For Respondent(s) Ms. Kavita Jha, Adv. Ms. Shivani Khandekar, Adv. Mr. Bhargava V. Desair, Adv. Ms. Akriti Dewan, Adv. Mr. Prakash Kumar, Adv. UPON hearing counsel Court made following ORDER appeal is allowed in terms of signed order. Pending application(s), if any, stands disposed of accordingly. (Ashwani Thakur) (Mala Kumari Sharma) COURT MASTER COURT MASTER (Signed order is placed on file) (Appearance Slip on behalf of appellants has not been provided.) Commissioner of Income-tax -I, Pune v. V.V. Patil Sahkari Sakhar Karkhana Ltd