(Sanjiv Khanna and J.K. Maheshwari, JJ.)
Commissioner of Income Tax, West Bengal __________ Appellant;
v.
SBI Home Financer Limited ______________________ Respondent.
Civil Appeal No. 3548 of 2007, decided on September 13, 2022
The Order of the court was delivered by
Order
1. We have heard the learned senior counsel for the Revenue and the learned amicus curiae, who have taken us through the relevant clauses of the agreements dated 08.12.1993 (Annexure P-1) and 30.12.1994 (Annexure P-2). On construing the relevant clauses, it is apparent that the respondent-assessee had become the owner of the plant and machinery. Further the lease rentals in entirety have been taxed as a revenue receipt/income accrued and taxable.
2. In view of the aforesaid factual background, we do not find any good ground and reason to interfere with the final conclusion and decision of the High Court. Accordingly, the appeal is dismissed.
3. Pending application(s), if any, shall stand disposed of.
SUPREME COURT OF INDIA
RECORD OF PROCEEDINGS
Civil Appeal No(s). 3548/2007
Commissioner of Income Tax, West Bengal.….Appellant(s)
v.
SBI Home Financer Limited.….Respondent(s)
(Mr. S.K. Bagaria, Senior Advocate may be shown in the cause list.)
Date: 13-09-2022 This appeal was called on for hearing today.
(Before Sanjiv Khanna and J.K. Maheshwari, JJ.)
UPON hearing the counsel the Court made the following
ORDER
4. The appeal is dismissed in terms of the signed order.
5. Pending application(s), if any, shall stand disposed of.
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