Supreme Court rules leasing rights not 'goods' or 'sale' for tax purposes.

The Supreme Court dismissed civil appeals by the Department for Assessment Year 1994-1995, holding that leasing rights do not qualify as 'goods' and transferring such rights does not amount to a 'sale'. The decision aligned with the precedent set in CIT v. B. Suresh [2009] 313 ITR 149/178 Taxman 457 (SC), ruling in favor of the assessee and not awarding costs.

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The Supreme Court dismissed civil appeals by the Department concerning Assessment Year 1994-1995. The issue was whether leasing rights can be considered as 'goods' and if transferring such rights would constitute a 'sale'. The court ruled in favor of the assessee based on the case of CIT v. B. Suresh [2009] 313 ITR 149/178 Taxman 457 (SC). No costs were awarded.

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