Principal Commissioner Of Income ... vs Uco Bank
2021 Latest Caselaw 1410 Cal/2

OD-2

                    IN THE HIGH COURT AT CALCUTTA
                      Special Jurisdiction [Income Tax]
                               ORIGINAL SIDE


                               ITAT/217/2017

                 IA NO:GA/2/2017 [OLD NO:GA/1852/2017]

              PRINCIPAL COMMISSIONER OF INCOME TAX, LTU
                                 VS.
                              UCO BANK
                               ............

BEFORE:

The Hon'ble JUSTICE T. S. SIVAGNANAM AND The Hon'ble JUSTICE HIRANMAY BHATTACHARYYA Date : 10th November, 2021.

[VIA VIDEO CONFERENCE]

Mr. Debasish Chowdhury, Advocate for the appellant.

Mr. J. P. Khaitan, Senior Advocate, Ms. Swapna Das, Ms. S. Das, Mr. S. Bhowmick, Advocates... for the respondent.

The Court : After hearing the learned counsel for the appellant we

admit the appeal on the following substantial questions of law. The other

substantial questions of law are left open for the present.

1. Whether on the facts and in the circumstances of the case Ld.

Tribunal has erred in law as well as on facts in placing reliance

on the judgment of M/s. UCO Bank in ITA No.1768/Kol/2009

dated 27.11.2015 for the assessment year 2002-03 and

disregarding the provision of section 115JB of the IT Act, 1961

read with explanation 3 to Section 115JB [2] of the IT Act,

1961 and ignoring the inclusive definition of company under

Section 115JB of the IT Act, 1961 ?

2. Whether on the facts and in the circumstances of the case Ld.

Tribunal has erred in law as well as on facts in placing reliance

on the judgment of M/s. UCO Bank in ITA No.1768/Kol/2009

dated 27.11.2015 for the assessment year 2002-03 and

disregarding the provision of section 115JB of the IT Act, 1961

for the disallowance as per Rule 8D[2][iii] of the Income Tax

Rules, 1962 ?

3. Whether on the facts and in the circumstances of the case Ld.

Tribunal has erred in law as well as on facts in placing reliance

on the judgment of M/s. UCO Bank in ITA No.1768/Kol/2009

dated 27.11.2015 for the assessment year 2002-03 and

disregarding the provision of section 115JB of the IT Act, 1961

for the disallowance on the account of provision credited for

Bad and Doubtful debt ?

The appellant shall file a requisite number of informal paper books

within ten weeks from date.

Let this matter be tagged along with ITAT/363/2016.

Prayer for stay is refused.

(T. S. SIVAGNANAM, J.)

(HIRANMAY BHATTACHARYYA, J. )

pkd./GH