Itta/551/2012 Of The Commissioner Of Income Tax-1, Hyderabad v. Dr.vijay Kumar Datla

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE Ms. JUSTICE G. ROHINI I.T.T.A. No.551 OF 2012 Date: 16.07.2013 Between: The Commissioner of Income Tax-I,Hyderabad. ….Appellant And Dr. Vijay Kumar Datla …Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAAND THE HON’BLE Ms. JUSTICE G. ROHINI I.T.T.A. No. 551 of 2012 ORDER:(Per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) It is submitted by Sri K.Vasantha Kumar, learned counsel for therespondent that the sole respondent - Dr. Vijaya Kumar Datla died intestateduring the pendency of this appeal and he has left behind his daughter Mrs.Mahima Datla. Therefore, on oral application of Sri J.V. Prasad, learnedcounsel for the appellant, the said Mahima Datla is brought on record. Thefactum of death of Dr. Vijay Kumar Datla be recorded and we direct theregistry to delete the name of Dr.Vijay Kumar Datla and incorporate the nameof Mrs. Mahima Datla. We have heard the learned counsel for the appellant and gone throughthe impugned judgment and order of the learned Tribunal. The learned Tribunal on fact found that the assessee received certainamount in lieu of stopping his business and setting up similar line of businessand this income was capital in nature. When on fact it was found that incomewas of capital nature, the law will automatically follow and following theSupreme Court decisions, the learned Tribunal came to the finding that it was for giving up the right to set up a similar business and it amounts to loss ofsource of assessee’s income. The receipt in the hands of the assessee wasa capital receipt. Accordingly, the views taken by the learned Tribunal werenot interfered with. In view of this situation discussed above, we do not find any reason orpoint to admit the appeal. Accordingly, the appeal is dismissed. _____________________ K.J. SENGUPTA, CJ Date: 16.07.2013KLP/ES ______________ G. ROHINI, J