ITO, WD-2(4), KOLKATA, KOLKATA vs. M/S SUVRIDHI CAPITAL MARKETS LTD., KOLKATA
In the result, both the appeals filed by the Revenue (ITA No
ITA 830/KOL/2015[2008-2009]Status: DisposedITAT Kolkata31 Aug 2017AY 2008-2009
Bench: Shri N. V. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.830 & 831/Kol/2015 (िनधा"रण वष" / Assessment Year: 2008-09 & 2010-11) Vs. M/S Suvridhi Capital I.T.O., Ward – 2(4), Kolkata Markets Ltd. 516, Kamalalaya Centre, 156A, Lelin Sarani, Kolkata – 700 013. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs 4092 F ( Appellant) .. (Respondent) Appellant By :Shri G. H. Sema, Acit(Dr) Respondent By :Shri Ashis Kumar Rustogi, Fca सुनवाई की तारीख / Date Of Hearing : 17/08/2017 घोषणा की तारीख/Date Of Pronouncement : 31/08/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: These Two Captioned Appeals Filed By The Revenue Pertaining To Assessment Year 2008-09 & 2010-11, Are Directed By Order Passed By The Ld. Commissioner Of Income Tax (Appeals), Which Is In Turn Arises Out Of Assessment Orders Passed By The Assessing Officer U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’). 2. Since These Two Appeals Filed By The Revenue Pertain To Same Assessee, Different Assessment Years & Identical Issues Are Involved, Therefore, These Have Been Clubbed & Heard Together & A Consolidated Order Is Being Passed For The Sake Of Convenience & Brevity. The Revenue`S Appeal In Ita No.830/Kol/2015, Assessment Year 2008-09, Is Taken As A Lead Case.
For Appellant: Shri G. H. Sema, ACIT(DR)For Respondent: Shri Ashis Kumar Rustogi, FCA
Section 143(1)Section 143(2)Section 143(3)Section 43(5)Section 73
43(5) is concerned, it follows that both will have the same treatment as far as application of Explanation to Sec.73 is concerned. Accordingly, aggregation of the share trading loss and profit from derivative transactions should be done before the Explanation to Section 73 of the Act, is applied.
It was further submitted by the assessee that the said view
