Exide Industries Ltd. v. Union of India

ACIT, Circle-8(2), Kolkata vs. Tata Steel Processing and Distribution Ltd., Kolkata

In the result, the cross objection of the assessee is partly allowed

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2237/Kol/2016 Assessment Year : 2011-12 Acit, Circle-8(2), Kolkata -Vs- Tata Steel Processing & Distribution Ltd. [Pan: Aabct 1029 L ] (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 2237/Kol/2016 Assessment Year : 2011-12 ACIT, Circle-8(2), Kolkata -vs- Tata Steel Processing and Distribution Ltd. [PAN: AABCT 1029 L ] (Appellant) (Respondent) C.O. No. 96/Kol/2016 (Arising out of I.T.A No. 2237/Kol/2016 ) Assessment Year : 2011-12 Tata Steel Processing and Distribution Ltd. -vs- ACIT, Circle-8(2), Kolkata [PAN: AABCT 1029 L ] (Appellant) (Respondent) For the Appellant : Shri Saurabh Kumar, Addl. CIT Sr. DR For the Respondent : Shri J.P. Khaitan, Sr. C…

ACIT, Cir-1(2), Kolkata vs. The Jute Corporation of India Ltd., Kolkata

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

…leave at the credit of employee computed based on actuarial valuation, as per details submitted before the Assessing Officer. The assessee has relied upon the judgment of jurisdictional High Court, Calcutta in the case of Exide Industries vs. Union of India [292 ITR 470 (Cal)]. Relying upon the said judgment rendered by the Hon’ble Jurisdictional High Court, the assessee did not consider the 9 The Jute Corporation of India Ltd. I T A N o . 2 3 0 5 / K o l / 2 0 1 7 C . O N o . 2 5 / K o l / 2 0 1 8 A s s e s s m e n t Y e a r : 2 0 1 1 - 1 2 I T A N o . 2 3 1 8 / K o l / 2 0 1 6 - Fo r A . Y. 2 0 0 8 - 0 9 afore…

The Jute Corporation of India Ltd., Kolkata vs. DCIT Cir.-1, Kolkata

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

…leave at the credit of employee computed based on actuarial valuation, as per details submitted before the Assessing Officer. The assessee has relied upon the judgment of jurisdictional High Court, Calcutta in the case of Exide Industries vs. Union of India [292 ITR 470 (Cal)]. Relying upon the said judgment rendered by the Hon’ble Jurisdictional High Court, the assessee did not consider the 9 The Jute Corporation of India Ltd. I T A N o . 2 3 0 5 / K o l / 2 0 1 7 C . O N o . 2 5 / K o l / 2 0 1 8 A s s e s s m e n t Y e a r : 2 0 1 1 - 1 2 I T A N o . 2 3 1 8 / K o l / 2 0 1 6 - Fo r A . Y. 2 0 0 8 - 0 9 afore…

Landis+Gyr Limited, South 24 Parganas vs. DCIT, Circle-1(A), Kolkata

In the result, the appeal of the assessee is partly allowed

Bench: Hon’Ble Shri J. Sudhakar Reddy, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A No. 524/Kol/2017 Assessment Year : 2012-13

…for leave encashment. Ld. counsel for the assessee stated that the deduction on account of provision for leave encashment was made on the basis of the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries Ltd. Vs. Union of India (2007) 292 ITR 470 (Cal) but he fairly conceded that subsequently Hon'ble Supreme Court has stayed this judgment of Hon'ble jurisdictional High Court vide order 08-05-2009 by following observations:- “Pending hearing and final disposal of the Civil Appeals, Department is restrained from recovering penalty and interest which has accrued till date. It is made clear t…

M/S. S R Batliboi & Company LLP, Kolkata vs. DCIT, Circle - 22, Kolkata

Bench: Shri S.S.Godara & Dr. A.L. Saini

…ase files perused. These three appeals are therefore disposed of vide instant common order. 3. Both the Learned Representatives are ad idem at the outset that that hon'ble jurisdictional high court’s decision in Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) had quashed this statutory provision itself to be ultra vires. Hon'ble apex court has stayed operation thereof vide order dated 08.05.2009. The Revenue’s civil appeal against the same is stated to be pending before the hon'ble apex court till date. 4. The assessee takes us first appeal ITA 2114/Kol/2017.It submits that the impugned disallow…

M/S. S V Ghatalia & Associates LLP, Kolkata vs. DCIT, Circle - 22, Kolkata

Bench: Shri S.S.Godara & Dr. A.L. Saini

…ase files perused. These three appeals are therefore disposed of vide instant common order. 3. Both the Learned Representatives are ad idem at the outset that that hon'ble jurisdictional high court’s decision in Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) had quashed this statutory provision itself to be ultra vires. Hon'ble apex court has stayed operation thereof vide order dated 08.05.2009. The Revenue’s civil appeal against the same is stated to be pending before the hon'ble apex court till date. 4. The assessee takes us first appeal ITA 2114/Kol/2017.It submits that the impugned disallow…

M/S. S R Batliboi & Associates LLP, Kolkata vs. DCIT, Circle - 22, Kolkata

Bench: Shri S.S.Godara & Dr. A.L. Saini

…ase files perused. These three appeals are therefore disposed of vide instant common order. 3. Both the Learned Representatives are ad idem at the outset that that hon'ble jurisdictional high court’s decision in Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) had quashed this statutory provision itself to be ultra vires. Hon'ble apex court has stayed operation thereof vide order dated 08.05.2009. The Revenue’s civil appeal against the same is stated to be pending before the hon'ble apex court till date. 4. The assessee takes us first appeal ITA 2114/Kol/2017.It submits that the impugned disallow…

DCIT, Circle - 3(1), Kolkata vs. M/S. Tata Metaliks Limited, Kolkata

Bench: Shri S.S.Godara & Dr. A.L. Saini

…f ITA No.1153 & 1481/Kol/2017 A.Y. 2011-12 Tata Metaliks Ltd. vs. ITO Wd-3(2), Kol. Page 2 actual payment. Both parties inform us during the course of hearing that hon'ble jurisdictional high court’s decision in Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) quashing the statutory provision itself to be ultra vires. Hon'ble apex court has stayed operation thereof vide order dated 08.05.2009. It further emerges that this tribunal’s order in assessee’s case itself in preceding assessment year ITA 439/Kol/2016 has restored the very issue back to the Assessing Officer to be decided afresh after awa…

M/S Tata Metaliks Ltd., Kolkata vs. DCIT, Cir-3(1), Kolkata

Bench: Shri S.S.Godara & Dr. A.L. Saini

…f ITA No.1153 & 1481/Kol/2017 A.Y. 2011-12 Tata Metaliks Ltd. vs. ITO Wd-3(2), Kol. Page 2 actual payment. Both parties inform us during the course of hearing that hon'ble jurisdictional high court’s decision in Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) quashing the statutory provision itself to be ultra vires. Hon'ble apex court has stayed operation thereof vide order dated 08.05.2009. It further emerges that this tribunal’s order in assessee’s case itself in preceding assessment year ITA 439/Kol/2016 has restored the very issue back to the Assessing Officer to be decided afresh after awa…

M/S Indian Explosives Private Limited, Kolkata vs. DCIT, Cir-11(1), Kolkata

In the result, appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy& Sri S.S. Viswanethra Ravi] I.T.A. No. 1957/Kol/2017 Assessment Year: 2013-14 Indian Explosives Private Ltd.......................…..…….……………………………………………………..……Appellant 16C, Bepin Paul Road Kolkata – 700 026 [Pan: Aaaci 6548 N] Deputy Commissioner Of Income Tax, Circle-11(1), Kolkata..……….….….……………….......Respondent Appearances By: Miss Oindrila Bala & Shri Saurabh Kedia, A/R, Appeared On Behalf Of The Assessee. Shri Sanjay Paul, Addl. Cit, Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : June 24Th,2018 Date Of Pronouncing The Order : September 7Th,2018 Order Per J. Sudhakar Reddy, Am :- This Is An Appeal Filed By The Assessee Directed Against The Order Of The Ld. Assessing Officer, Dt. 26/07/2017, Passed U/S 144C(13) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2013-14. 2. Facts In Brief:-

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA [Before Sri J. Sudhakar Reddy, Accountant Member& Sri S.S. Viswanethra Ravi, Judicial Member] I.T.A. No. 1957/Kol/2017 Assessment Year: 2013-14 Indian Explosives Private Ltd.......................…..…….……………………………………………………..……Appellant 16C, Bepin Paul Road Kolkata – 700 026 [PAN: AAACI 6548 N] Deputy Commissioner of Income Tax, Circle-11(1), Kolkata..……….….….……………….......Respondent Appearances by: Miss Oindrila Bala & Shri Saurabh Kedia, A/R, appeared on behalf of the assessee. Shri Sanjay Paul, Addl. CIT, DR appearing on behalf of the Revenue. Da…

Tata Steel Processing and Distribution Ltd., Kolkata vs. DCIT, Cir-8(2), Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 508/Kol/2016 Assessment Year : 2010-11 Tata Steel Processing & Distribution Ltd. -Vs- Dcit, Circle-8(2), Kolkata [Pan: Aabct 1029 L] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Counsel Shri P. Jhunjhunwala, Ar For The Respondent : Shri S. Dasgupta, Addl. Cit Dr Date Of Hearing : 09.08.2018 Date Of Pronouncement : 24.08.2018

…provision for leave encashment for Rs 38,50,798/- and claimed the same as deduction by following the 2 Tata Steel Processing and Distribution Ltd. A.Yr. 2010-11 decision of the Hon’ble Jurisdictional High Court in the case of Exide Industries Ltd reported in 292 ITR 470 (Cal). The ld AO sought to disallow the same in terms of section 43B(f) of the Act as the same was not paid within the due date of filing the return of income. The ld AO observed that the said decision has been stayed by the Hon’ble Supreme Court and accordingly disallowed the provision for leave encashment on the ground that the same is allowabl…

M/S Indian Explosives Private Limited, Kolkata vs. DCIT, Cir-11(1), Kolkata

Bench: Sri S.S. Godara& Sri M. Balaganesh] I.T.A. No. 2336/Kol/2016 Assessment Year: 2012-13 Indian Explosives P. Ltd..................................…..…….……………………………………………………..……Appellant 16C, Bepin Paul Road Kolkata – 700 026 [Pan: Aaaci 6548 N]

…itted back to the Assessing Officer for taking a fresh call after the hon’ble apex court’s decision in the Revenue’s special leave petition converted to appeal staying operation of hon’ble jurisdictional high court’s judgment in Exide Industries Ltd. vs. UOI, 292 ITR 470, deleting identical disallowance as well as holding the statutory provision itself to be unconstitutional. We accept this fair stand and direct the Assessing Officer to keep the instant issue in abeyance to be decided after the hon’ble apex court’s final verdict in the department’s appeal hereinabove. This second substantive ground is taken as al…

Second Vivekananda Bridge Tollywayco.Pvt. Ltd., Kolkata vs. DCIT, Cir-2(2), Kolkata

Appeal is partly allowed accordingly

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2012-13 Second Vivekananda V/S. Dcit, Circle-2(2), Bridge Tollway Co. Pvt. Aayakar Bhawan, P-7, Ltd., Block Gp, Sector-V, Chowringhee Square, Salt Lake Electronics Kolkata-69 Complex, Kolkata-91 [Pan No.Aahcs 8573 Q] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri S. Rudra, Advocate अपीलाथ" क" ओर से/By Appellant Shri G. Hangshing, Cit-Dr ""यथ" क" ओर से/By Respondent 21-06-2018 सुनवाई क" तार"ख/Date Of Hearing 11-07-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Calls Into Question The Commissioner Of Income Tax (Appeals)-1, Kolkata’S Order Dated 04.11.2016 Passed In Case No.1221/Cit(A)-1/C-2(2)/2015-16 Upholding Assessing Officer’S Action Disallowing Its Depreciation Claimed Of ₹41,99,22,054 In Respect Of Licence To Collect The Toll Revenue Of The Second Vivekananda Bridge (Treated As The Relevant Intangible Asset) & Disallowing Leave Encashment Provision Of ₹1,84,562/- U/S 43B(F) In Assessment Order Dated 11.05.2015, Involving Proceeding U/S 143(3) Of The Income Tax Act, 1961; In Short As ‘The Act’. 2. We Come To Former Issue Of Depreciation Disallowance In Respect Of Assessee’S Licence To Collect Toll Charges On The Second Vivekananda Bridge.

…s leave encashment provision of ₹1,84,562/- made by both the lower authorities u/s 43B(f) of the Act. 6. Both parties are ad idem during the course of hearing that hon'ble jurisdictional high court’s decision on Exide Industries Ltd. vs. Union of India (207) 292 ITR 470 (Cal) is both deleting the impugned disallowance as well as declaring the statutory provision itself as unconstitunal stands stayed in Revenue’s appeal preferred in hon'ble apex court. We therefore direct the ITA No.19/Kol/2017 A.Y. 2012-13 Second Vivekananda Bridge Tollway Co. Ltd. Vs. DCIT, Cir-2(2), Kol. Page 12 assessing authority to keep the…

Indian Explosives Pvt. Ltd., Kolkata vs. The JCIT, R-11, Kolkata

Appeals are partly allowed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ] Assessment Years : 2010-11 Indian Explosives Limited Vs D.C.I.T. Circle-11(1), Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent) Assessment Year : 2011-12 Indian Explosives Limited Vs J.C.I.T. Range-11, Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent)

…itted back to the Assessing Officer for taking a fresh call after the hon’ble apex court’s decision in the Revenue’s special leave petition converted to appeal staying operation of hon’ble jurisdictional high court’s judgment in Exide Industries Ltd. vs. UOI, 292 ITR 470, deleting identical disallowance as well as holding the statutory provision itself to be unconstitutional. We accept this fair stand and direct the Assessing Officer to keep the instant issue in abeyance to be decided after the hon’ble apex court’s final verdict in the department’s appeal hereinabove. This second substantive ground is taken as a…

Indian Explosives Ltd., Kolkata vs. DCIT, Cir-11(1), Kolkata

Appeals are partly allowed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ] Assessment Years : 2010-11 Indian Explosives Limited Vs D.C.I.T. Circle-11(1), Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent) Assessment Year : 2011-12 Indian Explosives Limited Vs J.C.I.T. Range-11, Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent)

…itted back to the Assessing Officer for taking a fresh call after the hon’ble apex court’s decision in the Revenue’s special leave petition converted to appeal staying operation of hon’ble jurisdictional high court’s judgment in Exide Industries Ltd. vs. UOI, 292 ITR 470, deleting identical disallowance as well as holding the statutory provision itself to be unconstitutional. We accept this fair stand and direct the Assessing Officer to keep the instant issue in abeyance to be decided after the hon’ble apex court’s final verdict in the department’s appeal hereinabove. This second substantive ground is taken as a…

DCIT, Cir-6, Kolkata vs. M/S Cesc Ltd., Kolkata

In the result, the appeal of revenue is dismissed and appeal of assessee is partly allowed for statistical purposes

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11

…llowability of provision for leave encashment in terms of sub-section (f) of section 43B of the Income Tax Act. The assessee had advanced its claim relying on the decision of the Hon’ble Kolkata High Court in the case of M/s. Exide Industries Ltd. reported in 292 ITR 470. However, the Assessing Officer did not accept the assessee’s claim observing that Department has preferred a Special Leave Petition before the Hon’ble Supreme Court and stay of the order of the Hon’ble Kolkata High Court was granted by the Hon’ble Apex Court. Ld. senior counsel submitted that under identical circumstances, Tribunal has restored…