PRINCIPAL COMMISSIONER OF INCOME TAX -3, KOLKATA vs. M/S. ITC LIMITED

Appeal is allowed to the extent indicated

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

3 SCC 127 (paras 7 to 11), it is contended that the Hon'ble Supreme Court has examined two types of situations; firstly, compensation paid in respect of rights arising under the trading contract and, secondly, Where the compensation is paid as a solacium for loss of office. In the first type of cases the receipt would be revenue receipt