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Tax Appeal No.2 of 2005. Case: Commissioner Of Income Tax Vs Manjara Shetkari Sahakari Sakhar Karkhana Ltd. High Court of Bombay (India)

Judgment Cited in Precedent Map Related
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Case NumberTax Appeal No.2 of 2005
CounselAlok Sharma, N D Sonavane, V D Hon
JudgesP. V. Hardas, J.
IssueMaharashtra Co-operative Societies Act, 1960 - Section 2(4)
Judgement DateAugust 20, 2008
CourtHigh Court of Bombay (India)

Judgment:

This Tax appeal has been filed against the orderof the Income Tax Appellate Tribunal, Mumbai Bench(Special Bench), dated 19.8.2004. This Tax Appeal cameto be admitted on the following substantial question oflaw:-

"(i) Whether the payments made by a cooperativesociety (cooperative sugar factory) to itsmembers or non members towards purchase price ofsugar cane supplied, in excess of the price asfixed by the Commissioner of Sugar (Registrar ofCooperative Societies representing the State)i.e. State advised price, is liable to bedisallowed under Section 40-A (2) of the IncomeTax Act, 1961 and computed as taxable income ofthe assessee?"

Learned Asstt. Solicitor General appearing onbehalf of the appellant and learned Counsel appearing onbehalf of respondent have invited our attention to thejudgment of the Division Bench of this Court rendered inIncome Tax Appeal No.318 of 2007 with Income Tax AppealNo.314 of 2007, 317 of 2007 and other connected matters,dated 14th August, 2007. The Division Bench in theaforesaid judgment was considering the followingsubstantial questions of law:-

"1. Whether the Appellate Tribunal was right inlaw in holding that provisions of Section 40A (2)(a) are not applicable to a co-operative Society?

  1. Whether, on the facts and in thecircumstances of the case, the Appellate Tribunalwas right in holding that the additional paymentover and above the statutory minimum price (SMP)was...

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