C. I. T. Kolkata - II v. Poddar Cotton Dealers (P) Ltd
[Citation -2014-LL-0826-48]

Citation 2014-LL-0826-48
Appellant Name C. I. T. Kolkata - II
Respondent Name Poddar Cotton Dealers (P) Ltd.
Relevant Act Income-tax
Date of Order 26/08/2014
Judgment View Judgment
Keyword Tags bad debt

ORDER SHEET ITA 795 OF 2004 IN HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE C. I. T. KOLKATA - II Versus PODDAR COTTON DEALERS (P) LTD. BEFORE: Hon'ble JUSTICE SOUMITRA PAL Hon'ble JUSTICE ARINDAM SINHA Date : 26th August, 2014. For Appellant /Revenue : Mr.M.P.Agarwal,Advocate Court : This appeal under section 260A of Income Tax Act 1961 has been preferred by appellant/revenue against order dated 23rd June, 2004 passed by Income Tax Appellate Tribunal, B Bench, Kolkata in ITA No.1785/KOL/2003 for assessment year 1998-99 on following questions : 1. Whether, on facts and circumstances of case, Income-tax Appellate Tribunal was correct in allowing sum of Rs.1,91,15,395 as bad debt in respect of amounts due from sister concern. 2. Whether, on facts and in circumstances of case, Income-tax Appellate Tribunal has erred in allowing long term capital 2 loss of Rs.1,47,000 in respect of forfeiture of shares due to non- payment of outstanding call money ? Heard Mr.M.P.Agarwal, learned advocate for appellant. Perused order passed by learned Tribunal. We find that no substantial question of law arises out of said order and therefore, appeal and application are dismissed. Urgent certified copy of this order, if applied for, be given to appearing parties on priority basis. (SOUMITRA PAL, J.) (ARINDAM SINHA, J.) ssaha AR(CR) C. I. T. Kolkata - II v. Poddar Cotton Dealers (P) Ltd
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