PRINCIPAL COMMISSIONER OF INCOME TAX -3, KOLKATA vs. M/S. ITC LIMITED

Appeal is allowed to the extent indicated

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

4) of Page 55 of 77 section 45, the amount chargeable to income-tax as income of such specified entity under that sub-section which is attributable to the capital asset being transferred by the specified entity, calculated in the prescribed manner:] Provided ………: Provided ……… Provided ………. Provided ………. Provided ………. Provided ………. Provided ………. [Explanation. - For the purposes of this section,- (i)"foreign currency

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S ORCHID GRIHA NIRMAN PVT LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Dated January 31, 2022. [Via Video Conference] Appearance : Mr. P.K. Bhowmick, Adv. Mr. Asok Bhowmick, Adv. … For The Appellant Mr. J.P. Khaitan, Sr. Adv. Ms. Swapna Das, Adv. Mr. Siddharth Das, Adv. ..For The Respondent The Court :- We Have Heard Mr. P.K. Bhowmick, Learned Standing Counsel For The Appellant/Revenue Duly Assisted By Mr. Asok