KRISHAK BHARTI COOPERATIVE LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

Allowed, subject to just exceptions.

Allowed, subject to the appellant filing legible copies of the annexures, at least three days before the next date of hearing. ITA 504/2022 3. This appeal is directed against the order dated 26.07.2022 passed by the Income Tax Appellate Tribunal concerning Assessment Year (AY) 2015-2016.

The issue which arises for consideration is: whether lump sum payment made towards lease premium should be treated under capital expenditure? 5. Ms Surekha Raman, learned counsel for the appellant/assessee, has fairly placed before us, an order of the coordinate bench of this Court dated 29.07.2022 in ITA No. 236/2022. 5.1 The coordinate bench, following the decision dated 12.07.2012 rendered by another coordinate bench in ITA No. 205/2010 titled KrishakBharti Cooperative Vs. Deputy Commissioner of Income Taxhas dismissed the appeal. 6. We have been informed by Ms Surekha Raman, that a Special Leave Petition (SLP) i.e., SLP(C) No. 19399/2016 has been preferred vis-a-vis the decision rendered by the coordinate bench of this Court in ITA No. 205/2010, which is pending consideration. 7. Accordingly, the instant appeal is closed, with a caveat,that if the Supreme Court was to reach a different conclusion, parties will abide by the decision so rendered.