Itxa/1040/2007 Of The Commissionrer Of Income-Tax-13,Mum v. M/S Shantilal Kunverji And Co

Mr.A.K. Jasani i/by M.P.Savla & Co. for theRespondent. CORAM : F.I. REBELLO &R.S. MOHITE, JJ.DATE : 17TH MARCH, 2009 PC : 1. Revenue is in appeal on the following questions. the Tribunal is right in holding that interestas well as tax refund and sales tax commissionreceived by the respondent is a business incomewhen the same has no nexus with the business ofthe respondent and therefore should have beentreated as income from other sources?2. In so far as Question(a) is concerned, we find thatthe matter was issue before the learned bench of thiscourt in the case of Alfa Laval India Ltd. Vs.Dy.Commissioner of Income tax reported in 266 ITR419.Against that judgment an appeal was preferred to theSupreme Court. The question of law however, was leftopen. However, considering the judgment of thecoordinate judgment of this court and nothing has beenbrought to our attention to take a view different from the view of the coordinate bench, in our opinion, question (a) would not survive. 3. In so far as Questions (b) and (c) are concerned,the amount involved is Rs.66,240/- and Rs.1,11,977/-.Considering that these are too small amounts, we do not propose to go into the said issues. For the aforesaid reasons, appeal dismissed. (R.S. MOHITE, J.)