2025 (8) TMI 457

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....E H. S. THANGKHIEW, AND HON'BLE MR. JUSTICE B. BHATTACHARJEE, JUDGE Appearance: For the Petitioner/Applicant(s): Mr. N. Dasgupta, Adv. Ms. A. Synrem, Adv. For the Respondent(s): Mr. S.C. Keyal, Adv. Mr. S. Pandey, Adv. JUDGMENT AND ORDER (ORAL) PER H.S. THANGKHIEW, JUDGE: 1. The writ petitioner is before this Court in this 3rd round of litigation, alleging that the respondents ha....

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...., asserting that the withholding of the balance amount was arbitrary and contrary to law, inasmuch as, as the transaction in question had resulted in a capital loss, no tax liability arises. He thus prays that directions be issued to the respondents to pass final orders for closure of the CGDS Account, in compliance with the order of this Court dated 06.09.2024, within a stipulated time frame. ....

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....ion 148 of the Act, since the immovable property transaction was required to be filed, even if there was a loss on the said transfer of the capital asset, and asserts that, though the petitioner claims to have filed a revised return on 03.09.2024, the same was prior to the order of this Court dated 06.09.2024. The learned counsel however concedes that the respondents are agreeable to examine the p....

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.... the sale proceeds of the transaction was parked mistakenly in the CGDS Account, though as claimed by the assessee, there was a capital loss. As Capital Gain is a subject matter of the assessment proceedings for the assessment year 2018-19, in the considered view of this Court, and as per the submission of the learned counsel for the respondents, it is directed that the petitioner shall file her r....