The Chief Commissioner Of Income Tax Mumbai City-Xvi, Mumbai v. Appellant Respondent

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORIGINAL SIDE INCOME TAX APPEAL NO.266 OF 2002 The Chief Commissioner of Income TaxMumbai City-XVI, Mumbai.vs. AppellantRespondent Dr. Balkrishna Gidithuri, Mumbai Mr. K. R.Chaudhary with Mr. Vijay Kantharia i/b. Mr.H. D. Rathod for the appellant. Mr. K. Shivram i/b. Mr. K. Gopal for therespondent. CORAM: R. M. LODHA &J.P.DEVADHAR,JJ DATED: 16th August 2004 P.C. Heard. 2. In this appeal, the following substantial questions of law have been proposed: "1. Whether on the facts and in circumstances of the case and in law, Tribunal was justified in holding that the of Rs. 1 crore received by the assessee having surrendered tenancy right is not in nature of casual and non-recurring receipt u/s.10(3) of the Act, 1961?2. Whether on the facts and in circumstances of the case and in law, Tribunal was justified in holding that the of Rs. 1 crore received by the assessee having surrendered a tenancy rights is also taxable under the head Other sources u/s. 56of the Act? thethesumforthe thethesumfornot petition against said judgment is pending before the Supreme Court. consequential to the decision on question (1). revenue, the said questions cannot be said to besubstantial questions of law. 6. Appeal, therefore, does not deserve to be admitted and is dismissed. (R.M.LODHA, J.) (J.P. DEVADHAR,J.)