DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

147 ITD 323 wherein it was held that such mark to market losses are allowable. Further the same stands allowable in view of the decision of Mumbai Special Bench in case of DCIT-vs-Bank of Bahrain & Kuwait [6 taxman.com 110]." I have perused the fact of the case and submission made by the appellant I agree with the view

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

147 ITD 323 wherein it was held that such mark to market losses are allowable. Further the same stands allowable in view of the decision of Mumbai Special Bench in case of DCIT-vs-Bank of Bahrain & Kuwait [6 taxman.com 110]." I have perused the fact of the case and submission made by the appellant I agree with the view

THE UNITED PROVINCES SUGAR COMPANY LTD., ,KOLKATA vs. ITO, WARD - 12(2), KOLKATA

In the result, appeal of the assessee is allowed

reassessment proceedings the ITO made addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of ostensible transactions in hundi