2011 (11) TMI 698

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....SUSHMA CHOWLA, J.M. : The appeal by the assessee is against the order of the Commissioner of Income Tax (Appeals)-I, Ludhiana dated 15.01.2010 relating to assessment year 2005-06 against the order passed u/s 143(3) of Income Tax Act, 1961. 2. The assessee has raised the following grounds of appeal: "1. That the Ld. CIT(A) has erred in law and on facts while taxing the capital receip....

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....y kindly be granted and/or other reliefs deemed fit and proper under the circumstances of the case may kindly be granted." 3. The learned A.R. for the assessee fairly admitted that the issue has been decided against the assessee by the Tribunal in appeals relating to assessment years 2003-04 and 2004-05. The learned A.R. for the assessee further pointed out that the issues raised in the present....

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....Officer has no objection to the same. 5. We have heard the rival contentions and perused the record. The issue raised in the present appeal is in connection with the taxation of the sales tax subsidy received by the assessee from the Govt. of Gujarat. The assessee had also received similar sales tax subsidy in assessment years 2003-04 and 2004-05. The Tribunal in ITA Nos.592 & 824/Chandi/2007 r....

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.... 7. The assessee has filed a declaration under section 158A(1) of the Income Tax Act, under which it is provided that where identical question of law is pending before the High Court or the Supreme Court, the assessee at its option can furnish the declaration under section 158A(1) of the Act, that where the issues are identical the decision in the appeals pending before the Hon'ble High Court....