Gujarat High Court
Dudh Sagar Dairy'S Employees Credit & ... vs A.C.I.T on 20 November, 2003
Author: A.R.Dave
Bench: A.R.Dave, K.A.Puj
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No 408 of 2003
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DUDH SAGAR DAIRY'S EMPLOYEES CREDIT & SUPPLY CO-OP.SOC.LTD.
Versus
A.C.I.T.
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Appearance:
1. TAX APPEAL No. 408 of 2003
MR JP SHAH for Petitioner No. 1
.......... for Respondent No. 1
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CORAM : HON'BLE MR.JUSTICE A.R.DAVE
and
HON'BLE MR.JUSTICE K.A.PUJ
Date of Order: 20/11/2003
ORAL ORDER
(Per : HON'BLE MR.JUSTICE A.R.DAVE) One of us, namely, Justice K.A. Puj, had appeared in the past for the assessee. In the circumstances, this Bench was not inclined to take up the matter.However, upon request made by learned advocate Shri J.P. Shah and Senior Standing Counsel Shri Manish R. Bhatt appearing for the respondent authority, the matter is taken up. Senior Standing Counsel Shri Manish R. Bhatt has submitted that there is no objection if the matter is taken up by this Bench especially in view of the fact that several other appeals involving similar legal issues have been admitted by this Court in the past and the issue involved in this appeal is also an issue, which has been covered in the case of the assessee for the earlier assessment year. Tax Appeal No. 247/2002 on a similar legal issue has already been admitted. In the circumstances, this petition is admitted. The following substantial questions of law arise in this appeal:
(i) "Whether on the facts and in the circumstances of the case, loss of Rs.1,79,299/- incurred by the assessee Co-operative Society in the sale of note books to the children of the members, in accordance with the resolution of the society, is an allowable loss?"
(ii) "Whether on the facts and in the circumstances of the case the expenditure of Rs.3,47,136/-
expended after giving one presentation article to every member in accordance with the resolution of the managing committee is an allowable business expenditure under Section 37(1) of the Income-tax Act, 1961?"
To be heard with Tax Appeal No. 247/2002.
(A.R. DAVE,J.) (K.A. PUJ, J.) siji