Calcutta High Court
Commissioner Of Income Tax vs Gayatri Chakraborty on 30 April, 2018
Author: Aniruddha Bose
Bench: Aniruddha Bose
ORDER SHEET
G.A.No.1124 of 2016
With
ITAT No.160 of 2016
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction (Income Tax)
ORIGINAL SIDE
COMMISSIONER OF INCOME TAX, KOLKATA-1, KOLKATA
Versus
GAYATRI CHAKRABORTY
The Hon'ble JUSTICE ANIRUDDHA BOSE
AND
The Hon'ble JUSTICE AMITABHA CHATTERJEE
Date:30th April,2018.
Appearance :
Mr.P.K. Bhowmick, Advocate.
...for Appellant/Revenue.
Mr.J.P.Khaitan, Sr. Advocate.
Mr. Siddhartha Das, Advocate.
Mr. G.S. Gupta, Advocate.
...for Respondent/Assessee.
The Court :-Heard Mr. Bhowmick, learned Counsel appearing for the Revenue.
We admit the appeal on the following ground, which involves substantial point of law :-
Whether the Tribunal in the decision under appeal, had rightly come to the conclusion that the transactions between the Assessee and the company in which she had 25.24% equity stake were part of a mutual running or current account and could not constitute deemed dividend in terms of Section 2(22) (e) of the Income Tax Act, 1961 for the assessment year involved in this appeal, having regard to the decision of the 2 Supreme Court in the case of Commissioner of Income-Tax Vs. Mukundray K. Shah reported in [2007] 290 ITR 433 (SC) ?
This order disposes of the stay petition, which is registered as GA. No.1124 of 2016.
We, however, shall hear out the appeal itself on the basis of the stay petition as we are apprised jointly by the learned Counsel for the parties that the stay petition contains all the materials required for adjudicating the appeal. All formalities for making the appeal ready, including the requirement for filing of paper books, shall stand dispensed with on consent of the learned Advocates for the parties.
This appeal being ITAT No.160 of 2016 be listed on 1st May, 2018 at 10:30 am.
(ANIRUDDHA BOSE, J.) (AMITABHA CHATTERJEE, J.) nm