COMMISSIONER OF INCOME TAX (EXEMPTION) , KOLKATA vs. B.P.PODDAR FOUNDATION FOR EDUCATION
In the result, the appeal filed by the revenue is dismissed and the
ITAT/143/2021HC Calcutta13 Sept 2022
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
Section 11(5)Section 13(1)(b)Section 13(1)(c)Section 13(1)(d)Section 133ASection 142(1)Section 143Section 143(2)Section 147Section 148
65,97,000/- with M/s. Nissan
Developers and Properties Pvt. Ltd. and Poddar Projects Ltd. respectively and
both these companies are specified persons of the assessee. Therefore, the
Assessing Officer held that these amounts are to be taxed separately at
Maximum Marginal Rate in terms of the proviso to Section 164(2) of the Act.
Further, the Assessing Officer pointed
