Supreme Court · 1999 INSC 92 · Decided 10 March 1999
Oberoi Hotel PVT. LTD. v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1999 INSC 92 · [1999] 1 S.C.R. 955
- Case number
- CIVIL APPEAL No. 7418/1994
- Decided
- 10 March 1999
- Bench
- S.P. BHARUCHA, M.B. SHAH, N. SANTOSH HEGDE (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 28(ii)
Headnote
HOTEL PVT. LTD. A v. COMMISSIONER OF INCOME TAX MARCH 10, 1999 [S.P. BHARUCHA, M.B. SHAH AND B N. SANTOSH HEGDE, JJ.) Income Tax Act, 1961 : Section 28(ii). Compensation-For tem1inatio11 of agreement-Capital or revenue c receipt--Detemiination of-AY 1979-8()-Assessee operated a hotel belonging to period--Assessee also had the right to -" opt for its purchase in case the owner desired to tr an sf er the same during the D said period-Subsequently by a supplemental agreement assessee gave up its .... right to purchase the hotel, thus entitling it to receive a certain amount of
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