2018 (6) TMI 1238

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..... Sourav Bagaria, Mr. G. S. Gupta, Advocates for the respondent ORDER The Court : These two matters cover two assessment years 2000-2001 and 2003-2004. The Commissioner (Appeals) held in favour of the assessee in either case and the orders of the Commissioner (Appeals) have been upheld by the Appellate Tribunal in the orders impugned. The order of the Commissioner (Appeals) in the latter case me....

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.... order of May 7, 2018, this Court relied on the Supreme Court judgments reported at 228 ITR 238 (Sahney Steel & Press Works V. CIT) and 306 ITR 392 (CIT V. Ponni Sugars & Chemicals Ltd.) to hold that it is the purpose of the grant under a scheme which is of paramount importance while assessing whether the money received thereunder ought to be treated as a revenue receipt or a capital receipt. In t....

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....r any interference. As far as the first issue is concerned, pertaining to the deduction of the interest paid on obtaining a loan, both the Commissioner (Appeals) and the Appellate Tribunal noticed an agreement between the assessee, the National Dairy Development Board and the West Bengal Cooperative Mill Producers Federation Limited to set up a joint venture company for the production of milk. Th....