Supreme Court · 2004 INSC 501 · Decided 8 September 2004
Siddheshwar Sahakari Sakhar Karkhana LTD. v. C.I.T., Kolhapur and ORS.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 501 · [2004] SUPP. 4 S.C.R. 155
- Case number
- CIVIL APPEAL No. 6973/2000
- Decided
- 8 September 2004
- Bench
- RUMA PAL, P. VENKATARAMA REDDI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 263
Headnote
B Income Tax Act, 1961-Compulsory deductions from cane growers made by sugar co-operative societies-repayment on occurrence of specified event of repayment of govt. loans-Held, is a deposit-Events not uncertain­ Further Held, deposits belong to members-Dominion with such members. C Refundable member's accounts-Refund on the happening of certain event-Held, such clear deposits liable to be excluded from the income of the co-operative societies. Maharashtra Co-operative Societies Act, 1960-Deduction made by assessee societies from cane growers-Towards various funds such as Chief
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