Calcutta High Court
Commissioenr Of Income Tax vs M/S. Century Vision Pvt Ltd on 16 September, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
ITA No. 681 of 2008
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ/Civil Appellate/Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
COMMISSIOENR OF INCOME TAX, KOLKATA-II Plaintiff/Petitioner/Applicant
Versus
M/S. CENTURY VISION PVT LTD. Defendant/Respondent
BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 16th September, 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:
"1. Whether on the facts and circumstances of the case, the ITAT was justified by not considering the question that can any adjustment be made within the less on purchase and sale of shares before ascertaining the applicability of explanation to Section 73 of the Income tax Act?
2. Whether the Hon'ble ITAT was justified in not considering the question that whether share trading loss of Rs.18,08,182/- considering expenses of Rs.1,50,452/- as relatable to share trading busienss is hit by explanation Section 73 of the Income Tax Act?
Let the Paper Book be filed within 8 weeks after Vacation, Let the matter to appear 12 weeks after vacation.
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/