In Brief
The Supreme Court disposed of two Special Leave Petitions filed by the Income Tax Commissioner challenging a High Court judgment in a tax dispute involving Khoday Breweries Ltd. The case concerned whether amounts collected by the assessee to meet contingent sales tax liabilities—which were subsequently refunded—constituted taxable income, and whether an agreement enhancing lease rent was genuine. The Court upheld the High Court's factual findings that the collected amounts had been refunded and the lease agreement was not a sham, and dismissed the petitions, leaving open remedies available to the Revenue under law.">
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