In Brief
The Supreme Court dismissed special leave petitions filed by the Commissioner of Income Tax challenging a High Court decision. The High Court had found that amounts collected by Khoday Breweries Ltd to meet a contingent sales tax liability were subsequently refunded to the original payees, and that the agreement enhancing lease rent was a genuine transaction, not a sham arrangement. Accepting these factual findings, the Supreme Court disposed of the petitions, allowing the Revenue to pursue any other available legal remedies if it deemed necessary.
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