TaxTMI 
TaxTMI 
TaxTMI 
2022 (5) TMI 1058
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..... The assessee's first and foremost substantial ground raised in the instant case seeks to reverse both the lower authorities action rejecting its stand of having not treated an amount of Rs.1,01,11,934/- received from other sugar co-operatives as income in the course of assessment framed on 29,02.2000 as upheld in the CIT(A) order. It emerges with the able assistance coming from the Revenue side that this is second round of proceeding between the parties before the Tribunal. Learned coordinate bench's earlier order dated 31.03.2007 had upheld Revenue's stand that the assessee's impugned amount received from other sugar cooperatives represented its taxable income only. The assessee thereafter appears to have filed its Tax Appeal ITA No. 139....
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....r was thereafter taken to the ITAT and Hon'ble ITAT Pune Bench vide its order dated 31/03/2007 confirmed the stand taken by the lower authorities by mentioning as under:- 14.6 It is not in dispute that the assessee had received a sum of Rs. 1,01,11,934/- being the cane price of the sugar sold to other sugar factories. This is undoubtedly a revenue receipt in the hands of the .assessee. The assessee has not been able to point out the nexus and link between the cane development und and expenses made therefrom as to the cane price received by the assessee for the cane' supplied by the assessee to other factories. The excess cane available with the assessee has been supplied by the assessee to other sugar factories and, therefore, th....
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....EMONY EXPENSES The written submission of which are as under:- GROUND NO. 1 1) CANE PRICE RECEIPT NOT SHOWN AS INCOME Rs. 1,01,11,934 The learned: Assessing Officer erred in disallowing and adding back an amount of 1,01,11,934/- towards Cane Price Receipt Not Shown as Income. In this .reqard it is stated as under: In this season 1990-91 and 1991-92, The Society had suffered a loss of Rs. 2, 71,37,840i- in respect of Sugar Can diverted to other Sugar Factories (as per the specific' Direction from Commissioner of Sugar Pune M. S.) The society is always facing the problem of Surplus Sugar cane in the area of operation, and it is the responsibility of the society to crush all the sugar cane and therefore society enters into an....
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....the income of our society and there is no question of adding the amount to the Total Income of the Assessee. The society is Selling Surplus Sugar Cane to other Sugar factories, but at the same time the society enters into an agreement with those sugar factories for Harvesting and Transportation Expenses, but many times dispute takes place regarding payment osf H&T therefore such payment is shown as Receivable under' head Differed Revenue Expenditure (Expenses) and the amount of Rs.l,51,91,083.53/- is carried forward since the Financial Year 1994-1995 and in the financial year 1995-96 Entry for Rectification of Mistake was passed for the amount of Rs.1,08, 72,627.32/- and the balance of Rs.43,18,457/- is carried forward since the fina....
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....f such receipt to cane development fund is immaterial and the same is nothing but appropriation of income. I am therefore of the opinion that the amount of Rs. 1,01,11,934/- has been rightly included by the AO in the income of the appellant. The order of the AO is accordingly found in order and the same is confirmed. However; it is observed that. the AO has omitted to add the amount of Rs. 1,01,11,934/- in the computation of total income forming part of the assessment order, The AO is accordingly directed to rectify this mistake and add the same to the total income while giving effect to this order." 4. Mr. Walimbe vehemently could hardly rebut the clinging fact that the CIT(A)'s detailed discussion has failed to comply with their lordshi....