ITO, Ward - 56(2), Kolkata vs. M/S. Pks Holdings, Kolkata
In the result, appeal of the Revenue is partly allowed for statistical purposes
ITA 1677/KOL/2011[2007-08]Status: DisposedITAT Kolkata01 Jun 2016AY 2007-08
Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A No. 1677/Kol/2011 Assessment Year : 2007-08 I.T.O., Ward-56(2) -Vs.- M/S. Pks .Holdings Kolkata Kolkata [Pan : Aaifp7778G] (Appellant) (Respondent) For The Appellant : Smt. Ranu Biswas, Jcit, Sr.Dr For The Respondent : Shri A.K.Updhay, Ar
For Appellant: Smt. Ranu Biswas, JCIT, Sr.DRFor Respondent: Shri A.K.Updhay, AR
Section 88E
…the Assessee. The CIT(A) held that the decision of the Hon’ble Bombay High Court in the case of Smt. Nayantara O. Agarwal vs. CIT 207 ITR 639 (Bom) and decision of the Hon’ble Calcutta High Court in the case of CIT Vs. Shekhawati Rajputana Trading Co (P) Ltd. 236 ITR 950 (Cal), were not applicable to the case of the Assessee, as the transactions in those cases were collusive in nature and not a real transaction with unrelated parties, as in the case of the Assessee. Similarly, the CIT(A) held that the decision of ITAT Mumbai in the case of Bombay Oil Industries Ltd. Vs. Dy. CIT [2002] 82 ITD 626 (Mum) was also a…
