(M.R. Shah and B.V. Nagarathna, JJ.)
Petition(s) for Special Leave to Appeal (C) No(s). 1877-1884/2022, decided on February 21, 2022
PTL Enterprises Ltd. ______________________________ Petitioner;
v.
Deputy Commissioner of Income Tax Circle 4(1) … Respondent(s).
(For Admission and IA No. 17476/2022-Permission to File Additional Documents/Facts/Annexures)
Petition(s) for Special Leave to Appeal (C) No(s). 1877-1884/2022; ITA No. 193/2012; ITA No. 185/2013; ITA No. 200/2013; ITA No. 206/2013; ITA No. 207/2013; ITA No. 227/2013; ITA No. 92/2014; ITA No. 93/2014; and IA No. 17476/2022
The Order of the court was delivered by
Order
1. Both the Income Tax Appellate Tribunal (ITAT) as well as the High Court have rightly held that the rental income to be treated as “income from other sources”. We are in complete agreement with the view taken by the ITAT as well as the High Court. On the other two questions/issues also, namely, on “quality loss” and on “penalty/stores and spares”, we are in complete agreement with the ITAT as well as the High Court.
2. we see no reason to interfere with the impugned judgment and order(s) passed by the High Court in exercise of powers under Article 136 of the Constitution of India.
3. The Special Leave Petitions stand dismissed.
4. Pending application stands disposed of.
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