Commissioner Of Income Tax v. Kalpataru Colours & Chemicalsreported In 2010 (328) Itr 451 (Bombay)?”

ORDER IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (INCOME TAX)ORIGINAL SIDE OD – 7 ITA/73/2011 IA NO: GA/2/2010 (Old No: GA/3227/2010) COMMISSIONER OF INCOME TAX, KOLKATA – XIIVERSUSM/S. TARA EXPORTS BEFORE: The Hon'ble Justice SURYA PRAKASH KESARWANI The Hon'ble Justice RAJARSHI BHARADWAJ Date : 6[th] December 2023. Appearance: Mr. S.S. Sarkar, Advocate… for appellant.Mr. Avra Mazumder, AdvocateMr. B.N. Paul, AdvocateMr. Samrat Das, AdvocateMs. Elina Dey, Advocate… for respondent. 1.Heard learned counsel for the appellant and learned counsel for therespondent. 2.This appeal has been admitted by order dated 14.02.2011, on thefollowing substantial question of law:- “Whether the Learned Tribunal below committed substantialerror of law in allowing the appeal of the assessee by relyingupon the decision of the Special Bench ITAT Mumbai in the caseof M/s. Top Man Exports & Ors., which has been set aside bythe Division Bench of the Bombay High Court in the case of Commissioner of Income Tax Vs. Kalpataru Colours & Chemicalsreported in 2010 (328) ITR 451 (Bombay)?” 3.Both the learned counsel for the parties jointly state that the questionraised in the present appeal is squarely covered by the judgment ofHon'ble Supreme Court in Topman Exports v. Commissioner of IncomeTax, Mumbai reported in 342 ITR 49 SC and another judgment ofHon'ble Supreme Court in Johnson G. Onmen v. Commissioner ofIncome Tax (Central) reported in (2023) 295 Taxman 221 (SC) on thequestion of prospectivity of the Tax Amendment Laws, 2005. Both thelearned counsel for the parties jointly state that the afore-quotedsubstantial question of law is covered by the judgment in the case ofTopman Exports (supra) against the revenue and therefore, the questionneeds to be answered in negative i.e. in favour of the assessee andagainst the revenue. 4.In view of the aforesaid, the appeal is dismissed. The substantialquestion of law as framed above is answered in favour of the assesseeand against the revenue.question of law as framed above is answered in favour of the assesseeand against the revenue. (SURYA PRAKASH KESARWANI, J.) S. Kumar (RAJARSHI BHARADWAJ, J.)