PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S EMPORIS PROPERTIES PVT LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 30Th March, 2023 Appearance : Ms. Smita Das De, Adv. ...For The Appellant Mr. J. P. Khaitan, Sr. Adv. Mr. G. S. Gupta, Adv. ...For The 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 22Nd September, 2022 Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata (The Tribunal) In

capital asset under the provisions contained in Section 2(4) of the Act. The assessee submitted their audited financial statement for the financial year 2012-13 to substantiate their claim. Further, it was stated that the profit and loss statement for the year ended 31st March, 2013 clearly indicates that the said land was their stock-in-trade. Further