2018 (8) TMI 1996

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....filed by the Revenue relating to the same assessee on similar issues were heard together and are being disposed of by this consolidated order for the sake of convenience. In order to adjudicate the issues, reference is being made to the facts in ITA No.2726/PUN/2016, relating to assessment year 2012-13. 3. The Revenue in ITA No.2726/PUN/2016, relating to assessment year 2012-13 has raised the following grounds of appeal:- "1) Whether on the facts and in the circumstances of the case and in law, the learned CIT (Appeals) was justified in holding that the payment of rate difference of Rs. 41,73,35,710/- after the closure of the accounting year do not amount to distribution of profits, as the amount to be paid was not out of the pr....

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.... ii) CIT Vs. (1) Solapur Dist. Co-op. Milk Producers and Process Union Ltd. (2) Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd. (2009) 315 ITR 304 (Bom) iii) CIT Vs. Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd. in Income Tax Appeal No.1156 of 2014 with Income Tax Appeal No.1157 of 2014, judgment dated 27.10.2016 iv) ACIT Vs. Kolhapur Zilla Sah. Dudh Utpadak Sangh Ltd. in ITA No.578 to 580/PUN/2016, A.Ys. 2009-10 to 2011-12, decided on 27.02.2018 5. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of Assessing Officer. 6. We have heard the rival contentions and perused the record. Briefly, in the facts of the case, the assessee was Co-operative societ....

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....being substantive law in nature and content de hors the decision of Hon'ble Supreme Court reported in 224 ITR 557?" 8. The decision on question No.(a) was as under:- "3. Reg. Question (a):- (a) The impugned order of the Tribunal dismissed the Revenue's Appeal before it on the issue raised herein by following the decision of this Court in CIT v/s. Kolahpur Zilla Sahakari Dudh Utpadak Sangh Ltd. 315 ITR 304. (b) It is an agreed position between the parties that the issue raised herein stands concluded by the decision of this Court in Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd. (supra) in favour of the Respondent-Assessee. (c) In the above view, the question as framed does not give rise to any sub....