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| The Tax Publishers2020 TaxPub(DT) 1109 (Chhattisgarh-HC) INCOME TAX ACT, 1961
Section 143(3)
Concession component received by assessee Government company in the course of implementing government projects of Public Distribution System (PDS) as its agent, the surplus of which, if any, was refundable or adjustable in future was not income of assessee.
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Assessment - Additions to income - Concession component received by assessee Government company in course of implementing government projects of Public Distribution System (PDS) -
Case of revenue was that according to assessee's own admittance, there was change in method of accounting adopted during relevant financial year, as mentioned in Form 3CD. Addition was made for concession component received by assessee Government company in course of implementing government projects of Public Distribution System (PDS). Held: CIT(A) was justified in deleting addition made by AO by stating that surplus earned from functioning of PDS on behalf of Government could not be taxed in hands of assessee. Concession component received by assessee Government company in the course of implementing government projects of PDS as its agent, the surplus of which, if any, was refundable or adjustable in future was not income of assessee.
REFERRED : Bharat Sanchar Nigam Ltd. (BSNL) v. UOI (2006) 282 ITR 273 (SC) : 2006 TaxPub(DT) 1454 (SC) New Jehangir Vakil Mills Co. Ltd. v. CIT (1963) 49 ITR 137 (SC) : 1963 TaxPub(DT) 0456 (SC) DCIT, GNR Circle, Ghandhinagar v. Gujarat State Civil Supplies Corporation Ltd. [ITA.No.334/Ahd/2014 with C.O.186/Ahd/2014, dt. 1-6-2017] Luxor Writing Instruments (P) Ltd. v. Dy. CIT [IT Appeal No. 3816 (Delhi) of 2011, dt. 29-2-2012]
FAVOUR : In assessee's favour
A.Y. :
IN THE CHHATTISGARH HIGH COURT
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