M/S MERLINS,KOLKATA vs. A.C.I.T.,CILCLE-31, KOLKATA
In the result, the appeal of the assessee is allowed
ITA 1999/KOL/2019[2013-14]Status: DisposedITAT Kolkata23 Jun 2021AY 2013-14
Bench: Shri P.M. Jagtap(Kz)] [Through Virtual Court] I.T.A. No. 1999/Kol/2019 Assessment Year: 2013-14 M/S. Merlins......................................…………………………..................................................Appellant 22, Prince Anwar Shah Road, Kolkata – 700 033. [Pan: Aatfm 9672 P] Vs Acit, Circle – 31, Kolkata...................…………………………………………………..............Respondent Kolkata. Appearances By: Shri Rakesh Jain, Ar Appearing On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit, Sr. Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : May 13, 2021 Date Of Pronouncing The Order : June 23, 2021 Order
Section 143(1)Section 143(3)Section 147Section 148Section 14ASection 80H
capital gain arising from the sale of shares as raised in the reasons recorded, he had no jurisdiction to make the additions on other two issues and the additions so made by him and confirmed by the Ld. CIT(A) are not sustainable in law. He has relied inter alia on the decision of Hon’ble Delhi High Court
