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<h1>SC Dismisses Special Leave Petition Despite Condoning Delay</h1> <h3>Commissioner of Income-tax- III, Bangalore Versus Sapthagiri Distilleries Ltd.</h3> SC dismissed the Special Leave Petition after finding no legal grounds for interference, despite condoning the delay. - Commissioner of Income-tax- III, ... Nature of receipt - Compensation for termination of lease agreement - Held that:- HC order confirmed [2014 (6) TMI 262 - KARNATAKA HIGH COURT] as the amount received is a capital receipt and not liable to tax under Section 55(2)(a) of the Act - Decided against revenue The Supreme Court dismissed the Special Leave Petition after hearing from the Additional Solicitor General and finding no legal grounds for interference. Delay was condoned.