Commissioner Of Income Tax vs Bhor Industries Ltd.
2003 Latest Caselaw 283 Bom

Citation : 2003 Latest Caselaw 283 Bom
Judgement Date : 26 February, 2003

Bombay High Court

Commissioner Of Income Tax vs Bhor Industries Ltd. on 26 February, 2003

Equivalent citations: (2003) 183 CTR Bom 291

Author: S Kapadia

Bench: S Kapadia, J Devadhar

JUDGMENT

S.H. Kapadia, J.

1. The following question of law has been referred to us by way of Department's appeal for asst. yr. 1994-95 : "Whether, on the fact and circumstances of the case and in law, the Hon'ble Tribunal erred in allowing the appeal of the assessee by excluding the sum of Rs. 20 crores received by the assessee being the compensation for the relinquishment of its tenancy right for the Cadell Road factory premises."

2. In view of the judgment of this Court in the case of Cadell Weaving Mill Co. (P) Ltd. v. CIT (2001) 249 ITR 265 (Bom), the question is answered in the negative i.e., in favour of the assessee and against the Department.

3. Appeal is accordingly disposed of with no order as to costs.

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