Asian Financial Services Ltd. v. CIT

70 Taxmann.com 9High Court2016#7579 most cited
15

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Also reported as

293 CTR 240

Sections most often in play

Section 10(34)Section 142(1)Section 143(1)Section 143(2)Section 14ASection 234BSection 250Section 43(5)

Issues it is cited on

section 73section 43(5)speculation lossspeculative transactionsection 43section 28section 143(1)transferindiaprescribedbusinesscompany

Judgments citing Asian Financial Services Ltd. v. CIT

THE COMMISSIONER OF INCOME TAX, KOLKATA -II, KOLKATA vs. M/S. MADANLAL LIMITED

ITA/51/2013HC Calcutta28 Jul 2025

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Chaitali Chatterjee (Das) Date : 28Th July, 2025. Appearance : Mr. Aryak Dutt, Adv. Mr. Prithu Dudhoria, Adv. …For Appellant.

Section 260ASection 28Section 43Section 43(5)Section 73Section 73(4)

…OD-3 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION [INCOME TAX] ORIGINAL SIDE ITA/51/2013 IA NO: GA/2/2013(Old No:GA/435/2013) THE COMMISSIONER OF INCOME TAX, KOLKATA -II, KOLKATA VS M/S. MADANLAL LIMITED BEFORE : THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM -A N D- HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS) DATE : 28th July, 2025. Appearance : Mr. Aryak Dutt, Adv. Mr. Prithu Dudhoria, Adv. …for appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Sanjay Bhaumik, Adv. Mr. Saumya Kejriwal, Adv. Ms. Ananya Rath, Adv. Mr. Navin Mittal, Adv. Mr. Debarghya Banerje…

BRIGHT PAINTS PVT LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX - 12(1)(2), MUMBAI

In the result, the ground no

ITA 6817/MUM/2024[2014-15]Status: DisposedITAT Mumbai27 Jun 2025AY 2014-15

Bench: MS. KAVITHA RAJAGOPAL (Judicial Member), SHRI OMKARESHWAR CHIDARA (Accountant Member)

For Appellant: Shri. Nitesh JoshiFor Respondent: Shri. Leyaqat Ali, SR. DR
Section 143(1)Section 143(2)Section 143(3)(ii)Section 14ASection 250Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SHRI OMKARESHWAR CHIDARA, AM Bright Paints Pvt. Ltd. Dy. Commissioner of Income Tax 11, Happy Home, 244, Waterfield – 12(1)(2) Road, Bandra – 400050. Pratishtha Bhavan, Church Gate, Vs. Maharshi Karve Road, Mumbai – 400020. PAN/GIR No. AAACB1696E (Appellant) : (Respondent) Assessee by : Shri. Nitesh Joshi Respondent by : Shri. Leyaqat Ali, SR. DR. Date of Hearing : 20.06.2025 Date of Pronouncement : 27.06.2025 O R D E R Per Kavitha Rajagopal, J M: This appeal has been filed by the assessee, challenging the order of the l…

AMOL CAPITAL MARKETS PRIVATE LIMITED,MUMBAI vs. ITO 4(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 783/MUM/2019[2014-15]Status: DisposedITAT Mumbai18 Aug 2023AY 2014-15

Bench: Shri Aby T Varkey & Shri Amarjit Singhamol Capital Markets Vs. Ito 4(1)(1) Private Limited Room No. 636, Aayakar A-106, Motalibai Wadia Bhavan, M.K. Road, Bldg, 22-D Sa Brelvi Mumbai - 400020 Street, Road, Fort, Mumbai – 400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcs8022N Appellant .. Respondent [ Appellant By : Rahul Hakani Respondent By : Manoj Kumar Sinha Date Of Hearing 03.08.2023 Date Of Pronouncement 18.08.2023 आदेश / O R D E R Per Amarjit Singh (Am): The Solitary Ground Of Appeal Of The Assessee Is Directed Against The Order Of Ld. Cit(A) In Confirming The Action Of Assessing Officer Of Denying Set Off Of Profit Of F. & O. Transactions & Profit Of Non-Delivery Based Share Against Brought Forward Business Loss. 2. Fact In Brief Is That Return Of Income Declaring Income At Rs.Nil Was Filed On 25.09.2014. The Assessment U/S 143(3) Of The Act Was Completed On 15.12.2016. The Assessing Officer Has Treated The Brought Forward Loss On The Trading Of F & O As Speculative Loss By Invoking Explanation To Sec. 73 Of The Act & Has Not Allowed The Same To Be Set

For Appellant: Rahul HakaniFor Respondent: Manoj Kumar Sinha
Section 143(3)Section 43Section 43(5)Section 73

…P a g e | 1 Amol Capital Markets Pvt. Ltd. Vs. ITO 4(1)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Amol Capital Markets Vs. ITO 4(1)(1) Private Limited Room No. 636, Aayakar A-106, Motalibai Wadia Bhavan, M.K. Road, Bldg, 22-D SA Brelvi Mumbai - 400020 Street, Road, Fort, Mumbai – 400001 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AADCS8022N Appellant .. Respondent [ Appellant by : Rahul Hakani Respondent by : Manoj Kumar Sinha Date of Hearing 03.08.2023 Date of Pronouncement 18.08.2023 आदेश / O R D E R Per Amarjit Sin…

DCIT 14(1)(1), MUMBAI vs. BLUE BERRY TRADING CO P.LTD, MUMBAI

In the result appeal of the Revenue is dismissed

ITA 3568/MUM/2016[2011-12]Status: DisposedITAT Mumbai08 Aug 2022AY 2011-12
Section 143(3)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE , JUDICIAL MEMBER The Dy. Commissioner of Vs. M/s. Blue Berry Trading Co. Income Tax 14(1)(1) Pvt. Ltd., Room No.460, 4th Floor C/62, Vibgyor Tower 9th Aayakar Bhavan Floor, Bandra Kurla M.K.Road, Mumbai-400020 Complex, Bandra (E) Mumbai – 400 051 PAN/GIR No.AABCB5512E (Appellant) .. (Respondent) Assessee by Shri Nitesh Joshi Revenue by Shri Ajay Chandra Date of Hearing 10/05/2022 Date of Pronouncement 08/08/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.3568…

WEALTHY SKY DEVELOPMENT PRIVATE LIMITED,JAIPUR vs. PR.CIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 15/JPR/2021[2016-17]Status: DisposedITAT Jaipur27 Jun 2022AY 2016-17
For Appellant: Shri Bhupendra Shah, CAFor Respondent: Shri Sanjay Dhariwal, CIT
Section 143(3)Section 263Section 43(5)(d)Section 73Section 73(4)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH-B ,VC, JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 15/JP/2021 Assessment Year : 2016-17. cuke Wealthy Sky Development P. Ltd., Principal Commissioner of Vs. 30, Kishan Nagar, Janpath Shyam Income-tax-1, Nagar Ext. Area, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACK 7048 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri Bhupendra Shah, CA j…

DCIT, CIR - 4(2)(1), MUMBAI vs. M/S.OHM STOCK BROKER P. LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1445/MUM/2020[2014-15]Status: DisposedITAT Mumbai21 Jun 2022AY 2014-15

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle – 4(2)(1) V. M/S. Ohm Stock Brokers Pvt. Ltd., Room No. 642, 6Th Floor 301-A, Poonam Chambers Aayakar Bhavan, M.K. Road B-Wing, Dr. A.B. Road Mumbai - 400020 Worli, Mumbai -400018 Pan: Aaaco3526E (Appellant) (Respondent) Assessee By : None Department By : Shri M.P. Ahuja

For Appellant: NoneFor Respondent: Shri M.P. Ahuja
Section 143(1)Section 143(2)Section 43(5)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT – Circle – 4(2)(1) v. M/s. Ohm Stock Brokers Pvt. Ltd., Room No. 642, 6th Floor 301-A, Poonam Chambers Aayakar Bhavan, M.K. Road B-Wing, Dr. A.B. Road Mumbai - 400020 Worli, Mumbai -400018 PAN: AAACO3526E (Appellant) (Respondent) Assessee by : None Department by : Shri M.P. Ahuja Date of Hearing : 25.05.2022 Date of Pronouncement : 21.06.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the revenue against order of Learned Commissi…

ITO , WD 2(2)(3), MUMBAI vs. PLAZA SECURITIES LTD., MUMBAI

In the result, the appeal of the revenue is dismissed

ITA 2472/MUM/2021[2010-11]Status: DisposedITAT Mumbai15 Jun 2022AY 2010-11

Bench: Shri Vikas Awasthy & Shri Amarjit Singhincome Tax Officer, Vs. M/S Plaza Securities Ltd. Ward-2(2)(3) 8-B, Rajbahadur Motilal Room No. 542, 5 Th Floor, Mansion, 11/43 Aayakar Bhavan, M.K. Tamarind Street For, Road, Churchgate, Mumbai - 400023 Mumbai – 400 020 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaacp8335L Respondent .. Appellant

For Appellant: N.R. AgarwalFor Respondent: Ms. Vranda U. Matkar
Section 143Section 143(1)Section 143(3)Section 43(5)(d)

…elying on the decision of ITAT, Ahmedabad, in the case of ITO Vs Upkar Retails Pvt. Ltd. (ITA No. 2237/Ahd/2014) notwithstanding that on similar issue Revenue has not accepted decision of the Calcutta high Court in Asian Financial Services Ltd. Vs. CIT (2017) 293 CTR 240 (Cal) and on which SLP is pending." 2. The fact in brief is that the assessee has filed return of income declaring a total loss of Rs.34,57,764/- on 31.03.2016. The return was processed u/s 143(1) of the Act. Thereafter assessment u/s 143(3) r.w.s 147 of the Act was completed on 31.03.2016. During the course of assessment the A.O has treated loss…

P.K.C.PRABHU,MADURAI vs. ASST. COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE-3, MADURAI

The appeal stands allowed in terms of our above order

ITA 10/CHNY/2021[2014-15]Status: DisposedITAT Chennai05 May 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Kumar (Advocate) – Ld. ARFor Respondent: Shri ARV Sreenivasan (Addl.CIT) – Ld. Sr. DR
Section 143(3)Section 43(5)Section 43(5)(d)Section 73Section 73(4)

…Ld. CIT(A) upheld the action of Ld. AO. This decision of Hon’ble Delhi High Court in DLF Commercial Developers Ltd. (supra) was held to be applicable. The favorable decision of Hon’ble Calcutta High Court in the case of Asian Financial Services Ltd. V/s CIT (70 Taxmann.com 9) as relied upon by assessee was not to be followed since the Special Leave Petition of the department was admitted by Hon’ble Apex Court. Aggrieved, the assessee is in further appeal before us. Our findings & Adjudication 6. We find that Hon’ble Apex Court in Snowtex Investment Ltd. Vs Pr. CIT (105 Taxmann.com 282) has observed that the prov…

DCIT 4 (1)(1), MUMBAI vs. DHARAMSHI SECURITIES P LTD., MUMBAI

The appeal stand dismissed

ITA 6789/MUM/2019[2014-15]Status: DisposedITAT Mumbai27 Jul 2021AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकर अपील िं./ I.T.A. No.6789/Mum/2019 (धििाारण वर्ा / Assessment Year: 2014-15) Dcit-4(1)(1) M/S Dharamshi Securities Limited 6Th Floor, 640, Aaykar Bhawan बनाम/ 1073, Quest, Behind Beau Monde Towers M.K.Road, Mumbai – 400 020 Rajabhau Desai Marg, Prabhadevi Vs. Mumbai – 400 025 Pan No.: Aaacd-3924-G (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Paresh Shaparia- Ld. Ar Revenue By : Shri Sunil Jha- Ld. Cit-Dr ुनवाई की तारीख/ : 25/05/2021 Date Of Hearing घोषणा की तारीख / : 27/07/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Paresh Shaparia- Ld. ARFor Respondent: Shri Sunil Jha- Ld. CIT-DR
Section 143(3)Section 43(5)Section 43(5)(d)Section 73Section 73(1)

…the assessee also pleaded for allowance of transaction charges as normal business expenditure. 4.2 The ld. CIT(A), in the light of assessee’s submissions, noted the decision of Hon’ble Calcutta High Court in the case of Asian Financial Services Ltd. V/s CIT (70 Taxmann.com 9). This decision, after considering the aforesaid decision of Hon’ble Delhi High Court in DLF Commercial Developers Ltd. (supra) held that the loss in derivatives would be a business loss and not speculative loss. The Ld. CIT(A) also observed that this controversy has finally been settled down by Hon’ble Supreme Court in the case of Snowtex…

KETUL CHEM PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 4528/MUM/2018[2015-16]Status: DisposedITAT Mumbai04 Nov 2020AY 2015-16

Bench: Shri Satbeer Singh Godara, Jm & Shri M.Balaganesh, Am M/S.Ketul Chem Private Vs. Dc Cc-2(2), 806, 8Th Floor Limited Western Edge-I, Pratishtha Bhavan Kanakia Spaces, Unit Old Cgo Building No.403, 4Th Floor M.K.Road, Mumbai -400020 Above Metro Shopping Mall Western Express Highway Borivali (East) Mumbai – 400 066 Pan/Gir No.Aaack5766A (Appellant) .. (Respondent) Assessee By Shri Ajay R Singh, Ar Revenue By Shri R Bhoopathi, Dr Date Of Hearing 15/10/2020 Date Of Pronouncement 04/11/2020

Section 143(3)Section 2Section 43(5)Section 43(5)(d)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT), ‘H‘ BENCH MUMBAI BEFORE SHRI SATBEER SINGH GODARA, JM & SHRI M.BALAGANESH, AM M/s.Ketul Chem Private Vs. DC CC-2(2), 806, 8th Floor Limited Western Edge-I, Pratishtha Bhavan Kanakia Spaces, Unit Old CGO Building No.403, 4th Floor M.K.Road, Mumbai -400020 Above Metro Shopping Mall Western Express Highway Borivali (East) Mumbai – 400 066 PAN/GIR No.AAACK5766A (Appellant) .. (Respondent) Assessee by Shri Ajay R Singh, AR Revenue by Shri R Bhoopathi, DR Date of Hearing 15/10/2020 Date of Pronouncement 04/11/2020 आदेश / O R D E R PER M. BALAGANESH (A.M): This…

AMOL CAPITAL MARKETS PVT. LTD,MUMBAI vs. ITO 4(1)(1), MUMBAI

In the result, appeal filed by the assessee for assessment year 2013-2014

ITA 1503/MUM/2019[2013-14]Status: DisposedITAT Mumbai20 May 2020AY 2013-14

Bench: Shri Rajesh Kumar (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2013-14 Amol Capital Market Pvt. Ltd., The Dcit-4(1)(1), A-106, Motalibai Wadia Bldg, Room No. 636, Aaykar Bhavan, 22-D Sa Brelvi Street, Road, M.K. Road, Fort, Mumbai - 400001 Vs. Mumbai - 400020 Pan: Aadcs8022N (Appellant) (Respondent)

For Appellant: Shri Venugopal Nair (AR)For Respondent: Shri Michael Jerald (DR)
Section 143Section 14ASection 43Section 73

…ment of the Hon’ble Supreme Court in the case of Snowtex Investment Limited vs. PCIT (Supreme Court) Civil Appeal No 4483 of 2019 (arising out of SLP(C) No. 20017 of 2017, judgment of the Hon’ble Calcutta High Court in the case of Asian Financial Services Ltd.293 CTR 240 (Cal), decision of the Delhi Bench of the ITAT in the case of M/s Sucon India Ltd. vs. JCIT ITA No.6203/Del/2015, decision of Mumbai Bench of the ITAT in the case of ITO vs. M/s Arandi Investments Pvt. Ltd. ITA No.2330/Mum/2016 and the decision of 3 Assessment Year: 2013-14 the Ahmadabad Bench of the Tribunal in the case of Magic share Traders L…

ESSAR SHIPPING LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 5, MUMBAI

In the result, appeal of the assessee is allowed as indicated above

ITA 3156/MUM/2018[2011-12]Status: DisposedITAT Mumbai30 Sept 2019AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Essar Shipping Limited V. Pr. Cit-5 Essar House, 11, K.K. Marg Room No. 501 Mahalaxmi, Mumbai – 400 034 Aayakar Bhavan, M.K. Road Mumbai-400 020 Pan: Aacce3707D (Appellant) (Respondent) Assessee By : Shri Vijay Mehta Department By : Shri D.G. Pansari

For Appellant: Shri Vijay MehtaFor Respondent: Shri D.G. Pansari
Section 143(1)Section 144C(1)Section 263Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER M/s. Essar Shipping Limited v. Pr. CIT-5 Essar House, 11, K.K. Marg Room No. 501 Mahalaxmi, Mumbai – 400 034 Aayakar Bhavan, M.K. Road Mumbai-400 020 PAN: AACCE3707D (Appellant) (Respondent) Assessee by : Shri Vijay Mehta Department by : Shri D.G. Pansari Date of Hearing : 27.09.2019 Date of Pronouncement : 30.09.2019 O R D E R PER C.N. PRASAD (JM) 1. This appeal is filed by the assessee against the order of the Ld. Principal Commissioner of Income Tax–…

MAGIC SHARE TRADERS LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-2(1)(2), AHMEDABAD

In the result, the assessee gets relief as claimed in Ground Nos

ITA 770/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad31 Oct 2018AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr

For Appellant: Shri S. N. Soparkar, A.R
Section 14ASection 28Section 43(5)Section 73

…cannot apply to loss in F&O activity which are expressly excluded from being regarded as ‘speculative business’ under s.43(5)(d) of the Act. For this proposition, the learned senior counsel relied upon the decision in the case of Asian Financial Services Ltd. 293 CTR 240 (Cal.) and Upkar Retail (P.) Ltd. 94 taxmann.com 450 (Ahd.). 7.2 Secondly, Explanation to Section 73 of the Act does not also apply because income under the head ‘income from business & profession’ is less than income under the other head of income. For this legal proposition, the learned senior counsel relied upon the decision rendered in the c…

ASIA SUGAR INDUSTRIES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 1809/DEL/2015[2011-12]Status: DisposedITAT Delhi20 Sept 2018AY 2011-12

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2011-12 M/S. Asia Sugar Industries Vs. Acit, Pvt. Ltd., Central Circle-5, New Delhi 6-B, Jor Bagh Lane, New Delhi Pan :Aaaca2286D (Appellant) (Respondent)

Section 132Section 142(1)Section 143(2)Section 143(3)Section 251(2)Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘A’, NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2011-12 M/s. Asia Sugar Industries Vs. ACIT, Pvt. Ltd., Central Circle-5, New Delhi 6-B, Jor Bagh Lane, New Delhi PAN :AAACA2286D (Appellant) (Respondent) Assessee by Shri Rahul Khare, Adv. Department by Shri Ravi Kant Gupta, Sr.DR Date of hearing 02.08.2018 Date of pronouncement 20.09.2018 ORDER PER O.P. KANT, AM: This appeal by the assessee is directed against order dated 16/02/2015 passed by the Ld. Commissioner of Income-tax (Appeals)-24, New Delhi…

M/S SADHANA STOCKS & SECURITIES PVT. LTD.,MUMBAI vs. PCIT-4, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 759/KOL/2017[2012-13]Status: DisposedITAT Kolkata22 Dec 2017AY 2012-13

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 143(3)Section 263Section 43(5)

…Assessment Year: 2012-2013 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘B’ BENCH, KOLKATA Before Shri P.M. Jagtap, Accountant Member and Shri S.S. Viswanethra Ravi, Judicial Member I.T.A. No. 759/KOL./2017 Assessment year: 2012-2013 M/s. Sadhana Stocks & Securities Pvt. Limited,...........................Appellant Flat No. 2701/2702, Raheja Atlantis Society, Ganpatrao Jadam Marg, Lower Parel, Mumbai-400 013 [PAN: AADCS 5139 E] -Vs.- Principal Commissioner of Income Tax-4, Kolkata,..........…….....Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700 069 Appearances by: Shri Rajesh S. Shah, C.A., for…

Asian Financial Services Ltd. v. CIT (70 Taxmann.com 9) — Cited in 15 Judgments | BharatTax