Calcutta High Court
Principal Commissioner Of Income Tax vs M/S. Qualitron Commodities (P) Ltd on 20 July, 2022
Author: T.S. Sivagnanam
Bench: T.S. Sivagnanam
OD-12
IN THE HIGH COURT AT CALCUTTA
SPECIAL JURISDICTION (INCOME TAX)
ORIGINAL SIDE
ITAT/41/2021
IA NO: GA/2/2021
PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA
VS.
M/S. QUALITRON COMMODITIES (P) LTD.
BEFORE :
THE HON'BLE JUSTICE T.S. SIVAGNANAM
And
THE HON'BLE JUSTICE BIVAS PATTANAYAK
Date : 20th July, 2022.
Appearance :-
Mr. Vipul Kundalia, Adv.
Mr. Anurag Roy, Adv.
....for appellant.
The Court:- We have heard Mr. Vipul Kundalia, learned
Standing Counsel appearing for the appellant.
The appeal is admitted on the following substantial questions of
law:-
(a) Whether in the facts and circumstances and law point of the
case, the Learned Tribunal has erred in its judgement that 'no
addition could have been made u/s 68 of the Act because the
money in question was received in earlier years and not in the
relevant assessment year under consideration' contradicts the
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reason for selection of this case under scrutiny through CASS
and "Large Share Premium received" during this year ?
(b) Whether the Learned Tribunal was correct in observing that
the assessment is held to be invalid and bad in law and
without valid jurisdiction since the A.O. has finalized the order
hurriedly by serving notices through affixture at the last
available address and notices to the Director through
mail/speed post?
(c) Whether the orders of the learned Tribunal dated 21st August,
2018 is totally perverse and bad in law?
The appellant shall file requisite numbers of informal paper
books prepared out of Court within eight weeks from date serving
copies thereof to the learned Advocate for the respondent. List the
appeal for hearing after ten weeks.
Settlement of index and all other formalities are dispensed with. The learned Advocate for the appellant shall serve notice of this appeal to the learned Advocate for the respondent.
The application for stay stands closed.
(T.S. SIVAGNANAM, J.) (BIVAS PATTANAYAK, J.) SN/GHAR(CR)