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Income Tax Appellate Tribunal, KOLKATA BENCH “D” KOLKATA
Before: Shri J.Sudhakar Reddy & Shri S.S.Godara
Shri Prashent Gupta, Staff अपीलाथ� क� ओर से/By Appellant Shri S. Halder, SR-DR ��यथ� क� ओर से/By Respondent 19-12-2018 सुनवाई क� तार�ख/Date of Hearing 26-12-2018 घोषणा क� तार�ख/Date of Pronouncement आदेश /O R D E R PER S.S.Godara, Judicial Member:- This assessee’s appeal for assessment year 2007-08 arises against the Commissioner of Income Tax (Appeals)-3, Kolkata’s order dated 13.02.2018 passed in case No.1183/CIT(A)-3/Circle-8(1)/15-16 Kol, involving proceedings 144r.w.s.147 r.w.s143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file(s) perused.
It emerges at the outset that the assessee has raised various substantive grounds inter alia challenging validity of the re-opening in question finally culminating in depreciation disallowance of ₹6,18,309/-, disallowance of loss on sale of vehicle amounting to ₹1,66,904/- and also treating profit on sale of land as Long Term Capital Gains instead of Short Term Capital Gains; respectively. The CIT(A)’s order under