COMMISSIONER OF INCOME TAX Vs. HARBHAJAN KOUR PROP

JUDGEMENT

(1.) THESE appeals by the Revenue filed under Section 260 -A of the Income Tax Act are directed against the order passed by the Income Tax Appellate Tribunal, Amritsar Bench in respect of the assessment years 2008 -2009 & 2009 -2010. In all these appeals, the issue raised is whether the assessment is to be made on the basis that refund of excise duty claimed by the Assessee in view of Section80 -IB of the Income Tax Act should be treated as Revenue Receipt or Capital Receipt. In ITA no.2169/2012, this Court has already taken the view that it must be regarded as Capital Receipt in view of the judgment of the Division Bench of this Court in M/s Shree Balaji Alloys v. CIT and anr. (2011) 333 ITR 335 (J&K).

(2.) MR . Thakur, learned senior counsel for the Revenue has not been able to successfully distinguish the issues raised in the instant appeals and the one which has already been decided in ITA no. 169/2012. The matter is squarely covered against the revenue bythe Division Bench judgment of this Court in M/s Shree Balaji Alloys case (supra) and the subsequent Division Bench order passed on 12.11.2012 in ITA no.169/2012. Therefore, no substantive question of law warranting admission of the appeal would arise.