Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (5) TMI 213 - HC - Income TaxReceipt of fees after Discontinuation of legal profession after being elevated to the post of Judge of High Court - Taxability of income under the head 'Income from business or professions' - whether Tribunal fell into error in its consideration of Section 176(4)and holding that a sum of ₹ 67,86,669/- reported by the assessee in AY 2009-10 would not be subjected to tax - Held that:- Having regard to the previous rulings, judgments of this Court and the reasoning adopted and with the omission to carry forward things to bring to tax such amounts by indicating the relevant head of income under section 14, the question is fairly well-settled. This is also in accord with the ruling of the Supreme Court in CIT v. Ajaz Products Ltd.(1964 (10) TMI 21 - SUPREME Court) that the subject is not to be taxed unless the charging provision clearly says so. This view has been followed by the Tribunal in this case. One has to look merely at what is clearly said, nothing is to be read in, nothing is to be implied, there being no room for any intendment, one can only look fairly at the language used. See CIT vs. Justice R.M. Datta of Calcutta High Court [1989 (7) TMI 59 - CALCUTTA High Court] We are further of the opinion that the view expressed by the Tribunal is in conformity with the opinion of several High Courts and its own Benches in different States; furthermore, the revenue itself has not thought it appropriate to carry the matter in appeal to the Supreme Court, thus accepting the ruling. The court is also of the opinion that the Tribunal's reasoning does not call for any interference. - Decided in favour of assessee.
|