Aloke Chakrabarti J. - (1.) This is an appeal under Section 260A of the Income-tax Act, 1961, against the judgment and order of the Income-tax Appellate Tribunal, C Bench, Calcutta, dated January 21, 1999.
(2.) The facts relevant for the present purpose are that the assessee-company filed its return on December 31, 1999, declaring total income of Rs. 12,14,520 under the heads "Business" and "Other sources". The return was initially processed under Section 143(1)(a). In the preceding years, the assessee-company carried on business of trading in jute goods and shares and debentures of companies. The assessee also earned service charges and export handling commission for rendering various services to the parties. The assessee further earned interest on fixed deposit, debentures/ bonds and dividends on shares apart from income from agricultural activities.
(3.) Heard Mr. J. P. Khaitan, learned counsel for the appellant, and Mr. Dipak Deb, learned counsel for the Revenue.;