PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. M/S. AMBITION AGENCIES PRIVATE LIMITED

Bench: : The Hon’Ble Justice T.S.Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Dated : November 15, 2021. [Via Video Conference] Appearance : Mr. P.K. Bhowmick, Advocate …For The Appellant Mr. Pranit Bag, Advocate …For Respondent The Court :- This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act In Brevity) Is Directed Against The Order Dated 9Th November, 2016 Passed By The Income Tax Appellate Tribunal “C” Bench Kolkata (Tribunal) In I.T.A. No.713/Kol/2011 For The

68 of Income Tax Act, 1961 by disregarding that the assessee could not satisfactorily explain the genuineness of the transactions and creditworthiness of the share applicants in question ? (b) Whether on the facts and in the circumstances of the case the Learned Tribunal, erred in law in holding that the manner in which the Learned CIT (Appeals) remanded the issue