Ita/61/2022 Principal Commissioner Of Income Tax, Central-1, Kolkata v. M/S. Kalinga Metalics Ltd

ORDER IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE O – 149 ITA/61/2022 PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1, KOLKATA VS M/S. KALINGA METALICS LTD. BEFORE : THE HON’BLE JUSTICE SURYA PRAKASH KESARWANI AND THE HON’BLE JUSTICE AJAY KUMAR GUPTA Date : 3[rd] July 2024. Appearance: Mr. Smarajit Roychowdhury, Advocate Mr. Soumen Bhattacharjee, Advocate ... for appellant. Mr. Agnibesh Sengupta, Advocate Ms. Pritha Basu, Advocate Mr. Saptarshi Kar, Advocate ... for respondent. 1.Heard Sri Smarajit Roychowdhury, learned senior standing counsel for the appellant and Sri Agnibesh Sengupta, learned counsel for the respondent. the appellant and Sri Agnibesh Sengupta, learned counsel for the respondent. 2.Both the learned counsel for the parties jointly state that the questions involved in the present appeal are squarely covered by the judgment of Hon’ble Supreme Court in the case of Principal Commissioner of Income Tax, Central-3 v. Abhisar Buildwell (P) Limited [2003] 149 taxmann.com 399 (SC) and in view thereof the present appeal deserves to be dismissed and the substantial questions of law deserve to be answered in favour of the assessee and against the Revenue. involved in the present appeal are squarely covered by the judgment of Hon’ble Supreme Court in the case of Principal Commissioner of Income Tax, Central-3 v. Abhisar Buildwell (P) Limited [2003] 149 taxmann.com 399 (SC) and in view thereof the present appeal deserves to be dismissed and the substantial questions of law deserve to be answered in favour of the assessee and against the Revenue. 3.In view of the statements jointly made by learned counsel for the parties, the appeal is dismissed. The substantial questions of law as framed in the order dated 24.06.2022 are answered in favour of the assessee and against the respondent. parties, the appeal is dismissed. The substantial questions of law as framed in the order dated 24.06.2022 are answered in favour of the assessee and against the respondent. (SURYA PRAKASH KESARWANI, J.) S. Kumar (AJAY KUMAR GUPTA, J.)