Calcutta High Court
Commissioner Of Income Tax vs Jet Age Securities Pvt.Ltd on 9 June, 2010
Author: Mohit S. Shah
Bench: Mohit S. Shah, Kalyan Jyoti Sengupta
GA No. 1141 of 2010
ITAT 74 of 2010
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction (Income-tax)
Original Side
COMMISSIONER OF INCOME TAX,KOL-III Appellant
Versus
JET AGE SECURITIES PVT.LTD. Respondent
For Appellant : Mr. S.Mukherjee, Advocate For Respondent :
BEFORE:
The Hon'ble CHIEF JUSTICE MOHIT S. SHAH AND The Hon'ble JUSTICE KALYAN JYOTI SENGUPTA Date : 9th June, 2010.
THE COURT : The appeal is admitted in terms of the following substantial question of law for the assessment year 2005-06.
"Whether on the facts and in the circumstances of the case and on a true and proper interpretation of section 94(7) the ITAT was justified in interpreting that the section has a retrospective application and 2 GA No. 1141 of 2010 ITAT 74 of 2010 accordingly whether it was justified in giving the benefit of such interpretation to the assessee by reversing the orders of the assessing officer as also the CIT(A) ?" The appellant is directed to file requisite numbers of paper book within three months from date.
The appellant shall serve notice of appeal on the respondents.
The stay application is disposed of. Parties are to act on a signed photostat copy of this order on the usual undertakings.
( MOHIT S. SHAH, C.J.) ( SENGUPTA, J.) Rsg.
Asst.Registrar (CR)