Mere pendency of PIL would not extinguish liability of assessee to pay tax on income received

HIGH COURT OF KARNATAKA Commissioner of Income-tax versus Sapthagiri Enterprises IT Appeal No. 1139 of 2006 Date of Pronouncement – 05.03.2013 JUDGMENT Sreedhar Rao, J The revenue has preferred this appeal challenging the order passed by the Income Tax Appellate Tribunal (hereinafter referred to as ‘the Tribunal’) wherein it has held that the amount received by the assessee was wrapped with the litigation and the assessee had not become the absolute owner of the sum received and he was not liable to pay tax for the assessment year 1993-94. 2. The assessee- Firm...