2018 (8) TMI 985

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...., SC, FOR INCOME TAX DEPT. For The RESPONDENT : SRI.E.K.NANDAKUMAR (SR.), SRI.P.BENNY THOMAS, SRI.P.GOPINATH AND SRI.K.JOHN MATHAI JUDGMENT Vinod Chandran, J. The three appeals by the Revenue arise from the order of the Income Tax Appellate Tribunal allowing the assessee's appeals for the assessment years 2001-02, 2002-03 and 2003-04. The question arising in all the years is as to ....

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.... deduction claimed on the contribution made to the Fishermen's Welfare Fund. The third question for that year alone is framed as follows: "3. Whether the assessee is entitled to the deduction on contributions paid towards Fishermen's Welfare Fund, which Fund was declared unconstitutional by the judgment of the Honourable Supreme Court in AIR 2002 SC 973 [Koluthara Exports Ltd. v. ....

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....of the undertaking for any assessment year, its profits and gains had not been included by application of the provisions of this section as it stood immediately before its substitution by the Finance Act, 2000, the undertaking shall be entitled to deduction referred to in this sub-section only for the unexpired period of the aforesaid ten consecutive assessment years." Admittedly, the assessee ....

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....nswer the first question of law in favour of the assessee and against the Revenue. In view of the answer we have given to question No.1, we are of the opinion that question No.2 need not be answered; which issue is answered by another Division Bench, which we follow. The question remaining is with respect to the deduction, insofar as the contribution made to the Fishermen's Welfare Fund. Th....