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TMI Blog2015 (2) TMI 901X X X X Extracts X X X X X X X X Extracts X X X X ..... s an appeal by the appellant-Revenue challenging the order of the Income-tax Appellate Tribunal, Baroda, dated September 18, 2001, rendered in I. T. A. No. 3547/Ahd/95, raising the following question of law for the consideration of this court : "Whether, on the facts and in the circumstances of the case, the Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come of the respondent-assessee under the head "Income from other sources". 3. Being aggrieved thereby, the respondent-assessee preferred an appeal before the Commissioner of Income-tax (Appeals), which partly allowed the said appeal but confirmed the assessment by the Assessing Officer to the aforesaid extent. Hence, the respondent-assessee carried the matter before the Income-tax Appellate Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ature termination of the agreement, the lessor paid the assessee, therein, a sum of Rs. 35,00,000. The Assessing Officer sought to assess the aforesaid sum as "Income from other sources" under section 10(3) read with section 56 of the Act. When an appeal was preferred, the Commissioner of Income-tax (Appeals) held that the assessee was liable to pay tax on capital gains on the amount of Rs. 35,00, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ince income derived from a source falling under a specific head has to be computed under the appropriate section and no other. A tenancy right is a capital asset and its surrender would attract section 45 and the gains derived would be assessable, if at all, only under the head 'Capital gains'. That being so, it cannot be treated as a casual and nonrecurring receipt under section 10(3) and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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