2011 (2) TMI 139

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....appellant.   Mr. Rajesh Garg, Advocate for the respondent.   ADARSH KUMAR GOEL, J.   This appeal has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, "the Act") against the order of the Income Tax Appellate Tribunal, Chandigarh in I.T.A. No.53/Chandi/2009 for the assessment year 2002-03 proposing to raise following substantial questi....

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....ion of the assessee that income of Rs.10,90,82,220/- claimed exempt under section 10(29), is income received from the FCI for the storage of food grains and not a trading receipt as held by the Assessing Officer whereas the Hon'ble Punjab & Haryana High Court in assessee's own case in ITR No.120 of 1998 dated 06.09.2006 and ITR No.63 of 1998 dated 31.10.2006 has already decided that such an income....

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....ppreciating the fact that Revenue has never deviated from its stand of denying exemption u/s 10(29) of the Income Tax Act, 1961 to any income not being in the nature of "storage charges" since assessment year 1992-93 except for the fact that the nature of income of Rs.10,90,82,000/- was for the first time discovered after detailed enquiry that the same was not in the nature of "storage charges" an....