PRINCIPAL COMMISSIONER OF INCOME TAX-12,KOLKATA vs. M/S.SOORAJMULL NAGARMULL

In the result, the appeal is dismissed and the substantial questions of

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital nature at the time when they were received. The present case is one of a trading liability being earlier allowed as a deduction and which is sought to be recalled under Section 41(1) of the Act. At the cost of repetition it may be added that in CIT Vs. Kesaria Tea Company Ltd. (supra) the revenue sought

JET AGE SECURITIES PRIVATE LIMITED vs. COMMISSIONER OF INCOME TAX, KOLKATA-III

In the result, the appeal filed by the assessee is allowed and the