Section 80HHC – Leasing rights can be considered as goods -SC

SUPREME COURT OF INDIA Commissioner of Income-tax, Mumbai v. Romesh Sharma CIVIL APPEAL NOS. 6093 & 6094 OF 2008 Date of Pronouncement – SEPTEMBER 4, 2012 ORDER These civil appeals filed by the Department concern Assessment Year 1994-1995. The issue involved in these appeals is, whether leasing rights can be considered to be ‘goods’ and whether transfer of such rights would constitute ‘sale’?” This issue is answered in favour of the assessee in the case of CIT v. B. Suresh [2009] 313 ITR 149. Following the said decision, these civil appe...