The Commissioner Of Income Tax – Ii, Pune v. Shellac Investments Private Limited
High Court
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The Commissioner Of Income Tax – Ii, Pune v. Shellac Investments Private Limited
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Case summary
In The Commissioner Of Income Tax – Ii, Pune v. Shellac Investments Private Limited, the High Court decided the matter.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1870 OF 2011
The Commissioner of Income Tax – II, Pune..Appellant.
Versus
Shellac Investments Private Limited..Respondent.
Mr.Vimal Gupta, Senior Advocate i/by Ms.Padma Divakar for the appellant.Mr.Mihir Naniwadekar for the respondent.
CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 23[rd] January 2013
P.C. :
1.Heard. Admit on the following substantial question of law.
“Whether on the facts and circumstances of the case and in law, the Tribunal was justified in holding that the gain received by the assessee as a result of fluctuation in the exchange rate is a capital receipt ?” (Section 28 of the I.T. Act, 1961)
2.To be heard along with Income Tax Appeal Nos.4810 of 2010, 5316 of 2010 and 1096 of 2011.
(M.S. Sanklecha, J.)
(J.P. Devadhar, J.)
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