Calcutta High Court
C. I. T. Kolkata - Iii vs Bright Investment (P) Ltd on 3 March, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
ITA No. 446 of 2004
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ/Civil Appellate/Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
C. I. T. KOLKATA - III Plaintiff/Petitioner/Applicant
Versus
BRIGHT INVESTMENT (P) LTD. Defendant/Respondent
BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 3rd March, 2008.
The Court :- After hearing the learned Counsel appearing for the appellant the appeal is admitted and the following substantial question of law is referred for adjudication:-
"Whether on the facts and circumstances of the case the Income Tax Appellate Tribunal was justified in law in holding that the assessee's principal business has been granting loans and advances and as such the principal business of the assessee was not within the ambit of Explanation to Section - 73 of the Income Tax Act, 1961?"
Let the Paper Book be prepared by the appellant and be served upon the respondent within 8 weeks from date. Let the appeal appear 10 weeks hence.
All parties concerned are to act on a signed copy of the minutes of this order on the usual undertakings.
Urgent xerox certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(PINAKI CHANDRA GHOSE, J.) (SANKAR PRASAD MITRA, J.) dg/