2016 (6) TMI 1128

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....r Respondent : Mr. S. N.Dutta, Advocate The Court : This appeal is directed against a judgement and order dated 26th November, 2010 passed by the learned Income Tax Appellate Tribunal, "B" Bench, Kolkata in ITA 1620/Kol/2008 and ITA 1721 (Kol)/2008 both pertaining to the assessment year 2004-05. What had happened was that the earlier appeal was an appeal by the assessee and the subsequent appea....

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....n of the Supreme Court in the case of Commissioner of Income Tax vs. alom Extrusions Ltd. reported in (2009) 319 ITR 306. 3. Whether the learned Tribunal below committed substantial error of law in reversing the finding of the CIT(Appeals) on the question of transaction cost on capital gain on sale of property which is a perverse finding of fact without any material or evidence." Both Mr.Dut....

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....at the CIT had permitted the assessee to adduce new evidence, that too, without giving an opportunity of rebuttal to the revenue, which is why there was violation of Rule 46A and ultimately at the time of hearing of the appeal, the learned Tribunal came to the finding that the deduction was allowed by the CIT (Appeal) on evidence. Mr. Dutta has not disputed that there was evidence on record. There....