9911796707
TMI Blog2018 (12) TMI 1757X X X X Extracts X X X X X X X X Extracts X X X X ..... as followed in the assessee's case, we do not propose to take a different view. In terms of the earlier order passed by the Tribunal and as confirmed by this Court in M/S MANIPAL FINANCE CORPORATION LTD [2014 (10) TMI 706 - KARNATAKA HIGH COURT] the substantial questions of law are answered in favour of the assessee and against the Revenue. - Income Tax Appeal No.99 Of 2009 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Assessing Officer completed the assessment under Section 143(3) of the Income Tax Act, 1961, (for short, 'the Act') by making additions of ₹ 2,93,72,000/- of the forfeited principal portion of settlement amount treating it as a revenue receipt and as income from business. Aggrieved by the same, an appeal was filed before the Commissioner of Income Tax (Appeals), which was dismiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er order of the Tribunal was followed in the assessee's case, we do not propose to take a different view. In terms of the earlier order passed by the Tribunal and as confirmed by this Court in income Tax Appeal Nos.794 and 795 of 2008, disposed off on 7-10-2014, the substantial questions of law are answered in favour of the assessee ane against the Revenue. The appeal is, accordingly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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