Principal Commissioner Of Incometax, Central-1, Kolkata v. M/S. Ambica Capital Markets Limited

OD-22 ITAT/203/2018IA No.GA/2/2018 (Old No.GA/1628/2018) IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOMETAX, CENTRAL-1, KOLKATA -Versus- M/S. AMBICA CAPITAL MARKETS LIMITED Appearance:Mr. P. K. Bhowmick, Adv....for the appellant. Mr. Malay Dhar, Adv.Mr. Bhaskar Sengupta, Adv....for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 7[th] December, 2021. The Court : The appeal filed by the revenue under Section260A of the Income Tax Act, 1961 (the ‘Act’ in brevity) isdirected against the order dated 30[th] August, 2017 passed in ITANo.865-866/Kol/2017 by Income Tax Appellate Tribunal, “A” Bench,Kolkata for the assessment years 2009-10 and 2010-11. Learned counsel appearing for the appellant/revenue aswell as learned counsel appearing for the respondent/assessee submitted that the tax effect involved in this appeals are lessthan the threshold limit fixed under the circular issued by theCentral Board of Direct Taxes (CBDT). If such is the undisputed factual position, the revenuecannot pursue the appeal. Accordingly, the appeals are dismissedon the ground of law tax effect and the substantial questions oflaw are left open. The connected application for stay (IA No.GA/2/2018) alsostands closed. (T.S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.)