2023 (2) TMI 1358

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....For the Appellant Mr. Avra Mazumder, Adv. Mr. Ramesh Patodia, Adv. Mr. Samrat Das, Adv. For the Respondent ORDER The Court : - Heard learned Counsel for either side. This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated April 30, 2021 passed by the Income Tax Department Appellate Tribunal "C" Bench Kolkata (Tribunal) ....

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.... Officer especially when this is the only remedy available with the department to correct the error of the Assessing Officer ? (c) Whether on the facts and in the circumstances of the case the Learned Income Tax Appellate Tribunal erred in law in quashing the order passed under Section 263 of the Income Tax Act, 1961 restricting the power of Principal CIT in those cases where relevant enq....

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....That apart copy of the contract notes, copies of bank passbook, copies of ledger, accounts of brokers were also filed. Furthermore, the assessing officer took note of the fact that all transactions were on the stock exchange platform. After due verification the assessing officer did not find anything adverse in the claims made by the assessee. Accordingly, the Tribunal concluded that it is not a c....