1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.445 OF 1997 The Commissioner of Income Tax Nashik .. Applicant. V/s. Shetkari S.S.K. Limited, Killari.. Respondent. Mr.A.S. Rao with Mr.Pankaj Kapoor for the applicant. Mr.S.N. Inamdar with Mr.P. Vaidya for the respondent. CORAM : V.C. DAGA & CORAM : V.C. DAGA & CORAM : V.C. DAGA & J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. DATED : 12TH APRIL, 2005. DATED : 12TH APRIL, 2005. DATED : 12TH APRIL, 2005. P.C. : 1. Heard the learned counsel for the applicant. The Tribunal has referred following questions for the opinion of this Court, reading as under : Whether on the facts and in the circumstances of the case the Tribunal, relying on the decision of its Special Bench in the case of Shri Chhatrapati SSK Ltd. (198 ITR 78 - AT) was right in deleting following additions by holding that the various funds and deposits collected by the assessee society out of the sugarcane purchase price payable to the cane growers are not trading receipts of the assessee ? Assessment Year 1985-86 1989-90 1990-91 ----------------------------- 1. Non-refundable dep. 115244 887185 910570 2. Int. on NRD 360433 814930 - 3. Cane Dev. Fund - 1255612 48808 4. Hutment fund - 156951 - 5. Flood Relief fund - 302192 39407 6. C.M. Fund - 156951 - 2 2. In so far as all other items except cane development fund are concerned, the issue is covered by the decision of the Apex Court in the case of Siddheshwar S.S.K. Ltd. V/s. CIT [(2004) 270 ITR 1 Siddheshwar S.S.K. Ltd. V/s. CIT [(2004) 270 ITR 1 Siddheshwar S.S.K. Ltd. V/s. CIT [(2004) 270 ITR 1 (SC)] (SC)] (SC)] in favour of the assessee and against the revenue. So far as Cane Development Fund is concerned, the issue will have to be referred back to the Tribunal for consideration afresh as per the judgment of the Apex Court in the case of Siddheshwar S.S.K. Ltd. (supra) as such the said issue stands remitted back to the Tribunal for consideration afresh. 3. The reference is disposed of in the above terms with no order as to costs. (V.C. DAGA, J.) (J.P. DEVADHAR, J.)