The Commissioner Of Income Tax-3 v. Mrs. P.s. Aggarwal
High Court
18 Feb 2009 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax-3 v. Mrs. P.s. Aggarwal
Date of order
18 Feb 2009
Assessment year(s)
—
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In The Commissioner Of Income Tax-3 v. Mrs. P.s. Aggarwal, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.108 OF 2009
The Commissioner of Income Tax-3 ..Appellant -versus
MRS. P.S. Aggarwal .. Respondents
Mr.P.S.Sahadevan, for the appellant.Mr A.K.Jasani i/b Mr P.C.Tripathi
CORAM: F.I.REBELLO & R.S.MOHITE, JJ.DATED: 18[th] February,2009
P.C.
1. Revenue is in appeal on the followingquestions of law.
Whether in the facts and circumstances of thecase and in law the Hon'ble ITAT was right inaccepting assessee's reversing CIT(A)'s orderwhereby he had confirmed the addition made byAO, and holding that the impugned amount wasreceived by the Assessee-Director from CitiBank in consideration of restrictive covenantfor two years and not from DBS, and that thesame was capital receipt not liable to tax?
this Court in Commissioner of Income Tax -vs-Narendra D Desai (2008) 214 CTR (Bom) 190, 20081 DTR. Considering above judgment, question
shall
not arise. Consequently appeal
dismissed.
(R.S.MOHITE, J) (F.I.REBELLO, J)
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