2010 (9) TMI 1210 - HC - Income Tax

High Court of Calcutta Admits Appeal for Assessment Year 2001-02

The High Court of Calcutta admitted an appeal for the assessment year 2001-02 to address substantial questions of law regarding the Tribunal's decision ... Appeal admitted on three substantial questions of law concerning (i) the Tribunal following its own earlier order in preference to a Division Bench judgment of this Court, (ii) the applicability of that High Court judgment to the facts of the present case, and (iii) whether the assessee's case is covered by the explanation to section 73 of the Income Tax Act, 1961. Notice issued; appellant directed to file paper books within two months. The High Court of Calcutta admitted an appeal for the assessment year 2001-02 based on substantial questions of law. The questions included whether the Tribunal was justified in following its own order over a judgment of the High Court, and whether the case fell under the explanation to section 73 of the Income Tax Act, 1961. The appellant was directed to file paper books within two months.