Calcutta High Court
Principal Commissioner Of Income Tax-2 vs Lokenath Saraf Securities Pvt. Ltd on 12 December, 2019
Author: Arijit Banerjee
Bench: Arijit Banerjee
ORDER SHEET
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction
[Income Tax]
ORIGINAL SIDE
ITAT 289 of 2017
GA 2673 of 2017
GA 2674 of 2017
PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA
Versus
LOKENATH SARAF SECURITIES PVT. LTD.
BEFORE:
The Hon'ble CHIEF JUSTICE THOTTATHIL B. RADHAKRISHNAN
And
The Hon'ble JUSTICE ARIJIT BANERJEE
Date : 12th December, 2019.
Mr. Pranit Bag, Adv.
Mr. Soumyadeep Biswas, Adv.
..for Respondent
The Court : This appeal under the Income Tax Act, 1961 is filed by the department.
It is seen that this appeal does not deserve to be further prosecuted having regard to the policy decision of the department which does not call for continued prosecution of the matter the value of which is below Rs.1 crore. This position is acceded to on behalf of the department.
We do not see any reason to retain this appeal and we dismiss the same along with the connected applications leaving open the questions of law raised.
(THOTTATHIL B. RADHAKRISHNAN, CJ.) (ARIJIT BANERJEE, J.) sm