Calcutta High Court
Commissioner Of Income Tax vs Shri Praveen Kumar Agarwal on 6 August, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
ITA No.486 of 2008
G.A.No.2070 of 2008
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction(Income Tax)
ORIGINAL SIDE
COMMISSIONER OF INCOME TAX, KOLKATA-I, Appellant
Versus
SHRI PRAVEEN KUMAR AGARWAL Respondent
BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE And The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 6th August, 2008.
The Court : After hearing the learned Counsel for the appellant the appeal is admitted and the following substantial questions of law are referred for adjudication:
"I. Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in upholding the order of the Commissioner of Income Tax (Appeals) whereby the Assessing Officer was directed to make addition to the extent of peak credit although the assessee failed to disclose the source of cash received by him and deposited in various bank accounts of different companies for making the black money while in contravention with the provisions of Section 68 of the Income Tax Act, 1961? 2 II. Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in coming to the conclusion that the higher of increase in peak of commission in each of the Assessment Year falling within the block period should be considered as undisclosed income of the assessee and in restricting the disallowance confirmed by the Commissioner of Income Tax (Appeals) to Rs.50,93,227/- as against Rs.70,99,118/-?
Let paper book be prepared by the appellant and be served upon the respondent within eight weeks from date.
Let the appeal appear in the list eleven 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.) 3