PRINCIPAL COMM OF INCOME TAX, CENTRAL 1, KOLKATA vs. M/S BINANI INDUSTRIES LIMITED
The appeal is dismissed on the ground that the book profit as
ITAT/196/2017HC Calcutta24 Aug 2022
Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 24Th August, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. Madhur Agarwal Adv. Mr. Pranit Bag, Adv. Mr. A.K. Dey, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated March 02, 2016, Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In I.T.A. No.144/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Question Of Law :- “Whether The Amount Of Rs.12,65,75,000/-, Received By The Assessee On Account Of Forfeiture Of Shares Would Be Added To The Book Profits Of The
Section 115JSection 14ASection 251Section 260A
section 115JB
Rs. 21,24,72,340
Less : Relief allowed as per Para 9 of the order
Rs. 2,18,09,000
Rs. 19,06,63,340
Less : Dividend income
Rs. 33,16,28,269
(-) Rs. 14,09,64,929
Add : Disallowance made by the assessee u/s. 14A
Rs. 1,37,12,550
Book Profit
