The Commissioner of Income-tax, Patiala v. Sourthern Bottlers Pvt. Ltd - 2020-LL-0210-35

Citation	2020-LL-0210-35
Appellant Name	The Commissioner of Income-tax, Patiala
Respondent Name	Sourthern Bottlers Pvt. Ltd.
Court	HIGH COURT OF PUNJAB & HARYANA
Relevant Act	Income-tax
Date of Order	10/02/2020
Assessment Year	1994-95
Judgment	View Judgment
Keyword Tags	capital receipt • tax effect • tenancy right
Bot Summary:	Mr. Alok Mittal, Advocate for the respondent. This appeal has been filed under Section 260A of the Income Tax Act-1961 against the order of the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh passed in ITA No. 528/Chandi/98 and 551/Chandi/98 on 19.4.2000 for the assessment year :1994-95 claiming following questions of law :- Whether on the facts and circumstances of the case, the ITAT was right in law in holding that the receipt of Rs. 3 crores for surrendering the tenancy rights is a capital receipt and hence it is not exigible to tax particularly when such receipt is casual in nature and is accordingly liable to tax in view of the provisions of Section 10(3) of the Income- tax Act, 1961 2. Counsel for the appellant states that he has not been able to ascertain about the tax effect. Learned counsel for the respondent states that tax effect is below that mentioned in the Circular No.3 of 2018 dated ANURADHA 11.07.2018 issued by the Central Board of Direct Taxes, further amended 2020.02.13 16:45 I attest to the accuracy and integrity of this document ITA No. 10-2001 2 vide Circular No.17 of 2019 dated 08.08.2019 read with Letter No.F.No. In the circumstances, the appeal stands dismissed with liberty to the appellant to revive the same if the tax effect is higher than the limit prescribed in the said circular. Since the main case has been decided, the pending application, if any, also stands disposed of. JUDGE JUDGE 10.2.2020 anuradha Whether speaking/reasoned - Yes/No Whether reportable - Yes/No ANURADHA 2020.02.13 16:45 I attest to the accuracy and integrity of this document.

ITA No. 10-2001 (O&M) 1 IN HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 405 ITA No. 10-2001 (O&M) Date of Decision : 10.2.2020 Commissioner of Income-Tax, Patiala Appellant Versus M/s Sourthern Bottlers Pvt. Ltd. Respondent CORAM : HON'BLE MR.JUSTICE AJAY TEWARI : HON'BLE MR.JUSTICE AVNEESH JHINGAN Present : Mr. Kunal Sharma, Sr. Standing counsel for appellant. Mr. Alok Mittal, Advocate for respondent. AJAY TEWARI, J. (Oral) 1. This appeal has been filed under Section 260A of Income Tax Act-1961 against order of Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh passed in ITA No. 528/Chandi/98 and 551/Chandi/98 on 19.4.2000 for assessment year :1994-95 claiming following questions of law :- Whether on facts and circumstances of case, ITAT was right in law in holding that receipt of Rs. 3 crores for surrendering tenancy rights is capital receipt and hence it is not exigible to tax particularly when such receipt is casual in nature and is accordingly liable to tax in view of provisions of Section 10(3) of Income- tax Act, 1961 ? 2. Counsel for appellant states that he has not been able to ascertain about tax effect. Learned counsel for respondent states that tax effect is below that mentioned in Circular No.3 of 2018 dated ANURADHA 11.07.2018 issued by Central Board of Direct Taxes, further amended 2020.02.13 16:45 I attest to accuracy and integrity of this document ITA No. 10-2001 (O&M) 2 vide Circular No.17 of 2019 dated 08.08.2019 read with Letter No.F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019 3. In circumstances, appeal stands dismissed with liberty to appellant to revive same if tax effect is higher than limit prescribed in said circular. 4. Since main case has been decided, pending application, if any, also stands disposed of. (AJAY TEWARI) JUDGE (AVNEESH JHINGAN) JUDGE 10.2.2020 anuradha Whether speaking/reasoned - Yes/No Whether reportable - Yes/No ANURADHA 2020.02.13 16:45 I attest to accuracy and integrity of this document Commissioner of Income-tax, Patiala v. Sourthern Bottlers Pvt. Ltd

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