Calcutta High Court
Commissioner Of Income Tax vs M/S. H. K. Financiers Pvt. Ltd on 5 May, 2011
Author: Bhaskar Bhattacharya
Bench: Bhaskar Bhattacharya
ITAT No. 106 of 2011
GA No. 1158 of 2011
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction [Income Tax]
ORIGINAL SIDE
COMMISSIONER OF INCOME TAX, KOLKATA-III, KOLKATA
Versus
M/S. H. K. FINANCIERS PVT. LTD.
For Appellant : Mr. S. B. Saraf, Advocate
BEFORE:
The Hon'ble JUSTICE BHATTACHARYA
The Hon'ble JUSTICE RAGHUNATH BHATTACHARYYA
Date : 5th May, 2011.
This appeal will be heard on the following substantial question
of law:
" Whether the learned Tribunal below committed substantial
error of law in holding that the transactions in question are in the nature of
income from capital gain by overlooking the fact that out of 220 transactions
the ratio between purchase and sale was of 59:41 and holding period in
respect of 77 sale transactions was for more than 12 months and for 13th
transaction which was for less than 12 months which is an indication that
the profit arose out of regular business activity."
Let notice of this appeal be served by the department on the
respondent on usual course.
Let requisite number of informal paper book containing all relevant papers used before the authority below be filed within two months from date. In default, the appeal will stand dismissed.
Liberty to mention after filing of paper book for inclusion in the hearing list.
Urgent photostat certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(BHASKAR BHATTACHARYA, J.) (RAGHUNATH BHATTACHARYYA, J.) sm.
AR[CR]