9911796707
TMI Blog2021 (4) TMI 871X X X X Extracts X X X X X X X X Extracts X X X X ..... ecision for assessment year 2009-2010, it concluded that the post-retirement medical scheme provision created a definite liability. In this behalf, Accounting Standard [AS] 15 issued by the ICAI is taken note of. We are informed by Mr. Ajit Sharma, learned senior standing counsel, who appears for the revenue that the revenue did carry the aspects referred to in paragraph 2 above in appeal to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly, we are of the view that insofar as the third aspect is concerned, no substantial question of law arises. Appeal admitted on second aspect - Whether the Tribunal misdirected itself in law and on facts in deleting from the taxable income of the assessee interest which accrued to Cooperative Electrical Supply Society Ltd., Siricilla? - ITA 91/2021 & CM APPL. 11216/2021 - - - Dated:- 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Supply Society Ltd, Siricilla, which was neither shown as taxable income of the said Society or the assessee. (iii) Interest income, which is sought to be taxed in the hands of the assessee, although, the same has already been offered to tax by various cooperative societies. 3. Insofar as the first issue is concerned, it is not in dispute that the Tribunal, based on its own decision in asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of law arose vis-a-vis the said aspect. 7. As regards the third aspect, the Tribunal, in paragraph 8 of the impugned order, has noted that the assessing officer made inquiries with the concerned cooperative societies and found that they had offered to tax, interest, which accrued to them 7.1 In view of this finding of fact, in our view, the same income [i.e., interest] cannot be taxed in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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