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Addl. Commissioner of Income Tax Vs. Bazpur Co-operative Sugar Factory Ltd. - Court Judgment

LegalCrystal Citation
SubjectDirect Taxation
CourtAllahabad High Court
Decided On
Case NumberI.T. Ref. No. 702 of 1974
Reported in(1978)7CTR(All)311
AppellantAddl. Commissioner of Income Tax
RespondentBazpur Co-operative Sugar Factory Ltd.
Excerpt:
- interpretation of statutes definition clause: [markandey katju & h.l. dattu, jj] meaning given to an expression in one statute cannot be applied to another statute......in the aforesaid decision. we answer the question in the affirmative in favour of the assessee and against the department. the assessee will be entitled to costs which are assessed at rs......
Judgment:

Satish Chandra, C.J. - For the assessment year 1961-62, the Tribunal referred to this Court the question whether the amount credited to Loss-Equalization and Capital Redemption Fund after making deduction from the price paid for sugarcane by the members of the assessees, was revenue in nature and so liable to tax. This Court in C.I.T. U.P. vs. the Bazpur Co-operative Sugar Factory Ltd., Bazpur answered the question in the affirmative in favour of the assessee and against the department. It was held that the aforesaid receipt was not revenue in nature and hence was not taxable.

2. In the present reference the same question has been referred by the Tribunal in respect of the assessment year 1960-61. For the reasons given in the aforesaid decision. We answer the question in the affirmative in favour of the assessee and against the department. The assessee will be entitled to costs which are assessed at Rs. 200/-.


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