PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. ARSHIA GLOBAL TRADECOM PRIVATE LIMITED

In the result, the appeal filed by the revenue is allowed

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

investment in shares by the assessee therein and the income earned by it from sale of shares had to be treated as business income and not as capital gains and while considering the said issue, the Court also examined as to the validity of the reopening. Furthermore, it was not the case where the assessing officer received information from

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. RAM RATAN MODI