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TMI Blog2008 (2) TMI 328X X X X Extracts X X X X X X X X Extracts X X X X ..... Rakesh Kumar Garg, J -1. This judgment shall dispose of ITA No.363 and 364 of 2004 as the proposed substantial questions of law involved in both the appeals are similar. For the sake of disposal of these appeals, the facts are being taken from ITA No.363 of 2004. 2. The Revenue has filed this appeal under Section 260-A of the Income Tax Act, 1961 (for brevity "the Act") challenging the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of CIT (A) deleting the addition of Rs.7,00,037/- made on account of unutilized contract receipts collected in the shape of labour welfare fund? 3. Briefly the facts of the case are that during assessment year 1993-94 the assessee collected Rs.13,70,548/- and spent Rs.6,70,511/-. The balance left over at the end of the year at Rs.7,00,037/- was disclosed as a liability. The decision to collect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Pvt. Ltd. (1979) 116 ITR 60(SC) and a judgment of this Court in the case of Commissioner of Income Tax Versus Gheru Lal Bal Chand 111 ITR 134. The appeal filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) was also dismissed by the Tribunal. 5. It is pertinent to mention here that vide order dated 1.10.2007, this Court has found that the question No.1 as proposed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount so received for a set purposes of welfare fund. The amount which remained unspent at the end of the year was not assessee's own money but a liability. Thus the Tribunal did not commit any error in dismissing the appeal of the Revenue. Our view also finds support from the decision of the Apex Court in Commissioner of Income Tax Versus Sitaldass Tirathdass 41 ITR 367(SC). 9. Even o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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