JNJ FINANCE COMPANY PVT LTD. vs. COMMISSIONER OF INCOME TAX, KOLKATA-I

Appeal stands dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 11Th May, 2022. Appearance : Ms. Swapna Das, Adv. Mr. Siddhartha Das, Adv. …For Appellant Ms. Smita Das De, Adv. …For Respondent The Court : This Appeal By The Assessee Filed Under Section 260A Of The Income Tax Act, 1961 (The Act For Brevity) Is Directed Against The Order Dated August 10, 2015, Passed By The Income Tax Appellate Tribunal “B” Bench, Kolkata In I.T.A. No. 888/Kol/2014 For The Assessment Year 2008- 09. The Assessee Has Raised The Following Substantial Questions Of Law For Consideration :- I) Whether On The Facts & Circumstances Of The Case, The Learned Tribunal Is Correct In Law & On Facts In Holding That The Order Dated 27.12.2010 Passed In Pursuance Of The Proceedings U/S 147 On Specific Issue & Wherein The Subject Matter Of The Share

147 on specific issue and wherein the subject matter of the share 2 capital was not involved can be revised u/s 263 and as such the order u/s 263 is barred by limitation? ii) Whether the Learned Tribunal was justified in holding that the first proviso to section 68, which has been inserted by the Finance Act, 2012 with effect