Calcutta High Court
Commissioner Of Income Tax vs Sanat Kumar Bhattacharya on 12 August, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
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ORDER SHEET
IN THE HIGH COURT AT CALCUTTA
SPECIAL JURISDICTION (INCOME TAX)
ORIGINAL SIDE
G. A. No. 1399 of 2008
I. T. A. No. 295 of 2008
Commissioner of Income Tax, Kolkata-XVIII
Versus
Sanat Kumar Bhattacharya
BEFORE :
The Hon'ble Justice Pinaki Chandra Ghose
And
The Hon'ble Justice Sankar Prasad Mitra
___________________________________________________________
Date: 12.08.2008
___________________________________________________________
After hearing the learned Advocates for the parties and
perusing the application for condonation of delay, we are
satisfied with the grounds stated in the petition. Accordingly,
the delay is condoned. The application under Section 5 of the
Limitation Act is allowed. G.A.No.1399 of 2008 is, thus, disposed
of.
We now take up the application for admission of the appeal.
After hearing the learned Advocates for the parties, the appeal is
admitted and the following substantial questions of law are
referred for adjudication:
"(a) Whether on the facts and in the circumstances of the case the Income Tax Appellate
Tribunal was justified in holding that the provisions of Section 44AD is not applicable to
the case in view of the turnover being higher that Rs.40,00,000/- and erred in directing the
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Assessing Officer to estimate net profit at the rate of 5% instead of 8% assessed by the
Assessing Officer?
(b) Whether on the facts and in the circumstances of the case the Income Tax Appellate
Tribunal was justified in deleting the entire addition made on account of bogus loans and
erred in not considering the matter in the light of the principles laid down by the Hon'ble
Calcutta High Court in the case Hindustan Tea Trading Company Ltd. (263ITR 289
(Cal))?"
Let the paper book be prepared by the appellant and be served
upon the respondent within eight weeks from date.
Let the appeal appear twelve weeks hence. All parties concerned are to act on a xerox signed copy of this order on the usual undertakings.
Urgent 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. ) AKGoswami