2009 (4) TMI 86

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....Respondents. JUDGMENT The judgment of the court was delivered by K. RAVIRAJA PANDIAN, J. - The appeals are filed by the revenue against the order of the Income Tax Appellate Tribunal, Madras A Bench dated 16.7.2003 made in I.T.A.No.1118, 1119/Mds/1996 and 1795 and 1796/Mds/1998 respectively. The relevant assessment years are 1991-92, 1992-93, 1993-94 and 1994-95. The substantial questions....

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....  The first appellate authority held that the amount received on account of higher free sale of sugar was a revenue receipt includible in the total income of the assessee and confirmed the order of the assessing officer. The addition is confirmed on account of excise duty debited in the profit and loss account which was in fact was not an ascertained liability or a real liability of the excis....

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....ever, the excise duty rebate or excise duty incentive would not form part of income from business assessable to tax under Section 28(iv) of the Income Tax Act, 1961. For coming to the said conclusion the Division Bench relied on the decision of this court in the case of Commissioner of Income Tax Vs. Ponni Sugars and Chemicals Ltd., reported in 260 ITR 605. 5. In the case of Commissioner of Inc....