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T. S. SIVAGNANAM, HIRANMAY BHATTACHARYYA
Principal Commissioner Of Income Tax-1, Kolkata – Appellant
Versus
Orchid Griha Nirman Private Limited, Kolkata – Respondent
JUDGMENT
1. These three appeals filed by the revenue under section 260 a of the Income Tax act, 1961 (act of brevity) are directed against three separate orders the details of which are as follows:-
(i) ITaT 164 of 2017 has been filed challenging the order dated 16.11.2016 passed by the Income Tax appellate Tribunal 'B' Bench Calcutta, (tribunal) in ITa No. 2270/Kol/2013 for the assessment Year 2008-09.
(ii) ITaT No. 239 of 2017 has been filed challenging the order dated 15.03.2017 passed by the Income Tax appellate Tribunal 'C' Bench Calcutta, (tribunal) in ITa No. 2260/Kol/2013 for the assessment Year 2008-09.
(iii) ITaT No. 250 of 2017 has been filed challenging the order dated 19.10.2016 passed by the Income Tax appellate Tribunal 'a' Bench Calcutta, (tribunal) in ITa No. 2269/Kol/2013 for the assessment Year 2008-09.
2. all the three appeals were heard together as the issues arising in all the three appeals were identical though the assessee were different companies. Furthermore, the tribunal followed the decision in ITa No. 2269/Kol/2013, (impugned in ITaT No. 250 of 2017), in the other two appeals and therefore, the appeals were taken up together.
3. The revenue has raised the fol
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Mere reduction in profit-sharing ratio of existing partners upon new partner's admission into firm, without retirement, does not constitute transfer u/s 2(47); amount credited from new contribution n....
Discounts given for prompt payment are legitimate business expenses and cannot be disallowed without corroborating evidence, particularly following a search where no incriminating materials were seiz....
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