SHRI SAROJ KUMAR PODDAR,KOLKATA vs. DCIT, CIRCLE - 6(1), KOLKATA , KOLKATA
In the result, appeal of the assessee is allowed for statistical purposes
ITA 1695/KOL/2017[2014-15]Status: DisposedITAT Kolkata16 Nov 2018AY 2014-15
Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Shri S.S.Godara, Jm] Assessment Year : 2014-15 Shri Saroj Kumar Poddar -Versus- D.C.I.T., Circle-6(1) Kolkata Kolkata (Pan: Aftpp 2386 N) (Appellant) (Respondent) For The Appellant: Shri J.D.Mistry, Sr.Counsel, Sri Ronak G.Doshi & Shri A.K.Gupta, Ar For The Respondent: Shri Girish Dave, Special Counsel & Shri P.K.Srihari, Cit Date Of Hearing : 21.08.2018. Date Of Pronouncement : 16.11.2018 Order Per J.Sudhakar Reddy, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The Commissioner Of Income Tax-(A)-2, Kolkata Dated 10.07..2017 Passed U/S 250 Of The Income Tax Act, 1961 (The ‘Act ‘) Relating To A.Y. 2014-15, Wherein The Order Passed By The Assessing Officer U/S 143(3) Of The Income Tax Act, 1961 (The ‘ Act’ ) Dated 30.12.2016 Was Confirmed.
For Appellant: Shri J.D.Mistry, Sr.Counsel, Sri Ronak G.Doshi &For Respondent: Shri Girish Dave, Special Counsel & Shri P.K.Srihari, CIT
Section 143(3)Section 250
119. Therefore, even if the amount of Rs.200 Crore received by the assessee as Severance Compensation is deemed to be a capital receipt and even if it is understood that the Compensation was not to be received by the other members of the Group as held earlier in this Assessment Order, the said Compensation of Rs.200 Crs would be taxable
