PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. SHRI MAHENDRA KUMAR PERIWAL
In the result, these appeals are allowed and the substantial
ITAT/136/2021HC Calcutta14 Jun 2022
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
13) of the Act which defines the term
“business”. Elaborate reference was made to the decision of the Hon’ble
Supreme Court in G. Venkataswami Naidu and Company Versus CIT 35
to explain as to how the adventure is in the nature of trade. It is submitted
that the Hon’ble Supreme Court has laid down the test
