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
section 28 falls under the chapter profits and gains of business or profession. the same would only include a receipt which is revenue in nature and not a capital receipt.
Reliance is placed by the Appellant on the following decisions-
(i) CIT Vs. David Lopez Menezes (336 ITR 337)(Bo01)
(ii) Carnival Investment Ltd Vs. ITO (ITA 568/Ko1/2011) affirmed
