2025 (5) TMI 1093

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....rayan Rai, Sr. Adv. and Mr. Soumen Bhattacharjee, Adv. For the Respondent : Mr. Avra Mazumder, Adv., Mr. Girdhar Dhelia, Adv., Mr. Suman Bhowmik, Adv., Mr. Samrat Das, Adv., Ms. Elina Dey, Adv. and Mr. Sourendra Nath Banerjee, Adv. ... ORDER: The Court :- This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 [the Act] is directed against the order dated 30.1.2024....

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....ompany from the company was not proved and also whose nature and source is not explained? c. Whether the learned Tribunal has committed substantial error in law in holding that the assessee has proved the identity and genuineness of transaction, ignoring the decision of the Hon'ble Supreme Court in the case of Novodaya Cstle [P] Ltd. [2015] 59 Taxmann.com 18[SC] wherein the Apex court hel....

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....has committed substantial error in law in not considering the judicial Principles laid down in the matter of Pr. CIT 5, Kolkata Vs Swati Bajaj reported in 2022 SCC Online 1572 [Cal] ?" The learned Tribunal had allowed the assessee's appeal on the ground that the source of verification provision was inserted under section 68 on and from Finance Act, 2012 with effect from 1.4.2013 and it cannot h....