Commissioner Of Income Tax,Kolkata-Iv v. M/S. The Diamond Co. Ltd

ITA/110/2010 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX,KOLKATA-IV -Versus- M/S. THE DIAMOND CO. LTD. BEFORE :THE HON’BLE JUSTICE SURYA PRAKASH KESARWANIAndTHE HON’BLE JUSTICE RAJARSHI BHARADWAJDate : 1[st] December, 2023 Appearance:Mr. Tilak Mitra, Adv....for the appellant.Ms. D. Mukherji, Adv....for the respondent. The Court : Heard learned counsel for the appellantand learned counsel for the respondent. Both the learned counsel for the parties jointly pointout that the Income Tax Department had filed appeal before theIncome Tax Appellate Tribunal, ‘B’ Bench, Kolkata confining theappeal to the following ground:“On the facts and in the circumstances of thecase, Ld. CIT(A) erred in treating the business incomeof Rs.2,53,03,344/- as capital gain violating thedecision of Hon’ble Supreme Court in the case of G.Venkataswami Naidu & Co. –vs.- CIT [35 ITR 594 (SC)]”. In view of the aforesaid facts, learned counsel forthe parties pointed out that the tax effect would be less thanthe limit prescribed vide Circular No.17/2019 dated 8[th] August,2019 fixing the limit for filing of appeal by the Department.From the perusal of the report we also find that paper book hasnot yet been filed by the appellant despite a clear directiongiven by this Court by order dated 23[rd] December, 2015.In view of the aforesaid, the appeal (ITA/110/2010) isdismissed being below the monetary limit fixed under theaforesaid circular. (SURYA PRAKASH KESARWANI, J.) (RAJARSHI BHARADWAJ, J.) As.