COMMISSIONER OF INCOME TAX Vs. CHATTAN CEMENT INDUSTRIES

JUDGEMENT

(1.) THESE four 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 2006 -2007, 2007 -2008 & 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 Section 80 -IB of the Income Tax Act should be treated as Revenue Receipt or Capital Receipt.

(2.) IN ITA no. 169/2012, this Court has already taken the view that it must be regarded as Capital Receiptin 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).

(3.) THE appeals are, accordingly, dismissed.