2024 (2) TMI 1482

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..... was actually received by the respondent assessee and the purchase of share assets and allotment of share by the assessee was under barter system - HELD THAT:- We have no hesitation to hold that substantial question of law raised in this appeal has to be answered against the appellant/revenue in the light of the decision of this Court in ITM/S ABHIJEET ENTERPRISE LTD. [ 2023 (11) TMI 1312 - CALCUTT .....

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..... dv. for respondent The Court :- We have heard learned Counsel on either side. It appears that there is a delay of 1132 days in filing the appeal, though the explanation offered is not fully satisfactory, since this appeal has been filed under Section 260A of the Income Tax Act, we are required to examine as to whether any substantial questions of law arise for consideration. Therefore, we exercise .....

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..... ets and allotment of share by the assessee was under barter system ? After we have elaborately heard the learned Advocates for the parties we have no hesitation to hold that substantial question of law raised in this appeal has to be answered against the appellant/revenuer in the light of the decision of this Court in ITAT/187/2023 dated 17.11.2023 in the case of ITAT/187/2023 PRINCIPAL COMMISSION .....

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