THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. I.T.O., WARD - 1(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm]

capital gain. Accordingly we set aside the order of Ld. CIT(A) on this issue and direct the AO to delete the addition. 29. Issue raised in ground no. 9 is against the order of AO computing the deduction u/s 11(1)(a) @ 15% on the net income and not on the gross receipt of the ICC whereas

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO, WARD 1(3), EXEMPTION , KOLKATA

In the result, the appeal of the assessee is allowed