2021 (1) TMI 1282

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....stice Aniruddha Roy, Judge For the Appellant : Mr. P.K. Bhowmick with Mr. Ashok Bhowmick, Advocates. For the Respondent : Mr. J.P. Khaitan, Senior Advocate (VC) with Mr. Sanjay Bhaumik, Ms. Swapna Das, Mr. Siddhertho Das, Advocates. ORDER 1. Challenging the order passed by the Income Tax Appellate Tribunal passed in ITA No. 891/Kol/2017 for assessment year 2012-13 dated 31.05.2018, the....

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....ribunal has erred in law in deleting the additions made by the Assessing Officer on the question of Marked to Market loss in contravention to the provision of section 37(1) of the Income Tax Act, 1961 which stipulates that capital/speculation expenditure is not an allowable expenditure for deduction ? (iii) Whether on the facts and circumstances of the case the Learned Income Tax Appellat....

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....1 (Kol) of 2016 for the Assessment Year 2010-11. 4. In ITAT 320 of 2018 filed in this Court, order dated 14th February, 2018, passed by the Tribunal, was challenged. The aforesaid appeal was admitted only for issues pertaining to interpretation of Section 14A of the Income Tax Act, 1961 read with Rule 8D(2)(ii) of the Income Tax Rules, whereas the aforesaid two questions at Sr.Nos (i) & (ii), w....