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2015 (6) TMI 1213 - ITAT LUCKNOWCharacterization of income - income from sale of tender documents - Addition under the head “income from other sources” - CIT-A Treated the receipt as capital receipt - HELD THAT:- We find that undisputedly the assessee has earned income from sale of tender documents during the course of setting up of plant. Since the assessee has earned income before commencement of the business of the assessee, it was to be capitalized and the assessee accordingly treated the receipt as capital receipt and adjusted against expenses reducing the cost of the project. CIT(A) examined this issue in the light of various judicial pronouncements and thereafter treated the receipt as capital receipt. Since no infirmity has been pointed out in the order of the ld. CIT(A) during the course of hearing, we find no justification to interfere with his order. We accordingly confirm the order of the ld. CIT(A) in both the assessment years. - Decided against revenue.
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