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Section 143(3)2 Section 14A2 Section 2(14)2

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S THE DIAMOND COMPANY LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 326/KOL/2014[2009-10]Status: DisposedITAT Kolkata24 Aug 2016AY 2009-10

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2009-10

Section 111ASection 143(2)Section 143(3)Section 14ASection 2(14)

Charitable Trust [1994] 206 ITR 152/73 Taxman 380(Cal). Redemption of ITA No.326/Kol/2014 A.Y. 2009-10 DCIT Cir-12 Kol. vs. M/s The Diamond Co. Ltd. Page 4 preference shares by a company; squarely comes within the phrase ‘sale, exchange, or relinquishment of the asset’ and, consequently, it is treated as transfer – Anarkali Sarabhai v. CIT [1977] 90 Taxman