OD-5 ITA/147/2009 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX)

ORIGINAL SIDE COMMISSIONER OF INCOME TAX (C)-

II -Versus-

M. K. FOUNDATION BEFORE :

THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA th Date : 9 February, 2023 Appearance :

Ms. Smita Das De, Adv.

…for the appellant.

Mr. J. P. Khaitan, Sr. Adv.

Ms. Swapna Das, Adv.

…for the respondent.

The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the ‘Act’ for th brevity) is directed against the order dated 30 September, 2008 passed by the Income Tax Appellate Tribunal, “B” Bench, Kolkata (the Tribunal) in IT(SS)A No.68/Kol/2006 for the block period from 01.04.1990 to 24.08.2000.

The appeal was admitted on the following substantial questions of law:

(a) Whether in the facts and circumstances of the case the Tribunal was justified in law to cancel the order of CIT by holding that the order of the assessment was not erroneous and prejudicial to the interest of the revenue despite the fact that the assessing officer failed to include the reserves and surplus of M/s. M.K. Shah Exports Ltd. with that of M/s. Safari Capitals Pvt. Ltd.

for quantification of