Principal Commissioner Of Income Tax vs Ual Industries Limited
2026 Latest Caselaw 2032 Cal/2

Calcutta High Court

Principal Commissioner Of Income Tax vs Ual Industries Limited on 18 March, 2026

Author: Rajarshi Bharadwaj

Bench: Rajarshi Bharadwaj

                                               1



OD - 19
                             IN THE HIGH COURT AT CALCUTTA
                              Special Jurisdiction [Income Tax]

                                        ORIGINAL SIDE
                                         ITAT/243/2025
                                 IA NO: GA/1/2026, GA/2/2026
                   PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-2, KOLKATA
                                               VS
                                    UAL INDUSTRIES LIMITED
BEFORE :
THE HON'BLE JUSTICE RAJARSHI BHARADWAJ
                     And
THE HON'BLE JUSTICE UDAY KUMAR
Date : 18th March, 2026
                                                                                  Appearance :
                                                                      Ms. Sanjukta Gupta, Adv.
                                                                      Ms. Sukanya Dutta, Adv.
                                                                               ...for appellant.

                                                               Mr. Pratyush Jhunjhunwala, Adv.
                                                                        Mr.Siddharth Das, Adv.
                                                                         Ms.Swapna Das, Adv.
                                                                               ...for respondent.

The Court : There is a delay of 37 days in filing the appeal. We are satisfied with

the explanation offered for not preferring the appeal within time. Therefore, the delay is

condoned. The application is allowed.

IA No.GA/1/2026 is disposed of.

Learned counsel appearing for the appellant submits that the tax effect in the

instant appeal is Rs.86,03,332/- for the Assessment Year 2012-13. Although the tax effect

in the instant case is less than the prescribed limit of CBDT Circular but the instant case

falls under the exceptional clause (h) of Para No.3.1 of the CBDT's latest Circular

No.05/2024 dated 15.03.2024.

Learned counsel further submits that no documentary evidence has been filed

before the authorities by the assessee to prove the genuineness and creditworthiness of

the transactions and the companies.

We have heard the learned counsels for the parties. Perused the documents and

more specifically the order dated 25th February, 2025 passed by the learned Tribunal.

We do not find any substantial question of law arising from the appeal and, as such, the

appeal and the application [GA/2/2026] are dismissed.

(RAJARSHI BHARADWAJ, J.)

(UDAY KUMAR, J.)

sd/