Allowing the appeal of the assessee the Tribunal held that , Amount withdrawn from NABARD deposit account accordance with tea development Scheme 2007 was not utilised the entire amount with in year in which withdrawal was made but utilised partly after the end of said year amount cannot be taxed by deeming fiction .( AY. 2011-12)
Stewart Holl ( India) Ltd v.Dy.CIT ( 2018) 170 ITD 1 /193 TTJ 878/166 DTR 143 ( Kol) (Trib)
S.33AB: Tea development account – Amount withdrawn from NABARD deposit account accordance with tea development Scheme 2007 was not utilised the entire amount with in year in which withdrawal was made but utilised partly after the end of said year amount cannot be taxed by deeming fiction [ S.33AB(7), 139(1)]