2016 (11) TMI 728

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..... he High Court which facts have not been controverted by the assessee, it appears that the respondent had transferred the licence on June 25, 2005 to one Shankarlal Patidar and the forfeiture of the said licence took place thereafter on August 1, 2005. If that be so, the loss, if any, on account of forfeiture was sustained not by the respondent-assessee but by the transferee-Shankarlal Patidar. .....

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..... dent : Shalu Sharma, Advocate JUDGMENT 1. Leave granted. 2. The challenge in this appeal by the Revenue is against the order of the High Court of Madhya Pradesh passed in I. T. A. No. 59 of 2013 by which the High Court has upheld the orders of the Income-tax Appellate Tribunal and the learned Commissioner of Income-tax (Appeals) deleting the addition of the licence fee paid by the asse .....

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..... respondent had transferred the licence on June 25, 2005 to one Shankarlal Patidar and the forfeiture of the said licence took place thereafter on August 1, 2005. If that be so, the loss, if any, on account of forfeiture was sustained not by the respondent-assessee but by the transferee-Shankarlal Patidar. 5. In view of the above and as the learned Tribunal and the High Court have overlooked the .....

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