SUPREME COURT OF INDIA
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SPECIAL LEAVE TO APPEAL (C) NO. 7521 OF 2016
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Deputy Commissioner of Income-tax........................................................Appellant.
v.
Vadodara District Co-op. Sugarcane Growners Union Ltd.......................Respondent |
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KURIAN JOSEPH AND ROHINTON FALI NARIMAN, JJ.
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| Date :AUGUST 26, 2016 |
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| Appearances |
A.N.S. Nadkarni, ASG, Ms. Meenakshi Grover, Rupesh Kumar and Mrs. Anil Katiyar, Advs. for the Petitioner.
D.N. Ray, Lokesh K. Choudhary and Mrs. Sumita Ray, Advs. for the Respondent.
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Section 4 read with section 147 of the Income Tax Act, 1961 — Income — SLP dismissed against High Court's ruling that mere payment of cane price in excess to SMP could not by ipso facto and/or per se be said to be distribution of profits leading to formation of belief that income had escaped assessment — Deputy Commissioner of Income Tax vs. Vadodara District Co-op Sugarcane Growners Union ltd.
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ORDER
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1. Delay condoned.
2. We find no reasons to entertain the appeal leave petition, which is, accordingly dismissed.
3. Pending application(s) shall stand disposed of
4. However, the question of law is kept open.
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[2016] 242 TAXMAN 110 (SC) |
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