PRINCIPAL COMMISSIONER OF INCOME TAX -3, KOLKATA vs. M/S. ITC LIMITED
Appeal is allowed to the extent indicated
ITA/125/2018HC Calcutta27 Jun 2024
Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ
2 of the Foreign Exchange
Management Act, 1999 (42 of 1999);]”
Section 45 (1) of The Income Tax Act 1961:-
“(1) Any profit or 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 and 54H, be
chargeable to Income