2013 (11) TMI 1436

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..... nt appeal has been filed under Section 260-A of the Income-tax Act,1961, hereinafter referred to as "the Act ", against the order dated 25.10.2000 passed by the Income Tax Appellate Tribunal (Bench Lucknow). The Department has proposed the following substantial questions of law, said to be arising out of the Tribunal's order.: '(1) Whether on the facts and in the circumstances of the case, the In .....

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..... pplicable to this case on the issue whether Nirgam Mulya was includible in the purchase price? (4) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was correct in coming to the conclusion that it followed from the decision of Hon'ble Supreme Court in the case of A. Sanyasi Rao (219 ITR 330) that Nirgam Mulya was a part of the purchase price for the purp .....

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..... ion. He had filed return of income declaring his total income of Rs.3,60,000/-. The proceedings under Section 143(3) of the Act were initiated and the Assessing Officer while passing the assessment order treated the Nirgam Mulya as not consideration for grant of exclusive privilege for selling country liquor. Accordingly, 40% of the purchase price of the country liquor including Nirgam Mulya or Ex .....

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