PRINCIPAL COMMISSIONER OF INCOME TAX -3, KOLKATA vs. M/S. ITC LIMITED

Appeal is allowed to the extent indicated

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in Sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G

PRINCIPAL COMM OF INCOME TAX 1, KOLKATA vs. M/S KILBURN ENGINEERING LTD

The appeal is dismissed and the substantial questions of law are

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : September 13, 2022. Appearance: Ms. Smita Das De, Adv. … For Appellant Ms. Manju Agarwal, Adv. …For Respondent The Court :- This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Passed By The Income Tax Appellate Tribunal “A” Bench, Kolkata (Tribunal) Dated 11Th March, 2018 In I.T.A. No. 1987/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Questions Of Law:- I) Whether The Income Tax Appellate Tribunal Erred In Law In Overlooking The Terms & Conditions As Provided In Section 139(5) Of The Income Tax Act, 1961 ? Ii) Whether The Illegal Validation Of The Deposit Made Beyond The Period Legalized Or Validated As Omission, Thereby, The Assessee Getting The