COMMISSIONER OF INCOME TAX, TDS, KOLKATA vs. M/S. A.B.P. PRIVATE LIMITED

In the result, the appeal [ITA/458/2008] filed by the revenue

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

2 “Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in law in holding that trade discount allowed by the assessee to INS accredited Advertising Agent was not in the nature of Commission and therefore not subjected to TDS under the provision of Section 194H of the Income

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S ITC LTD

Bench: The Learned Tribunal – One By The Assessee & The Other By The Revenue Which Have Been Disposed Of By A Common Order, Impugned In This Appeal. 2. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration :

37(1) of the Act being the personal liability of the assessee? 4 (h) Whether the Learned Income Tax Appellate Tribunal was justified in law in admitting fresh claim of ESOP raised by the assessee which was not made in the return of income and in the course of assessment and which involved fresh introduction and investigation of facts

THE PRINCIPAL COMM OF INCOME TAX 3 , KOLKATA vs. M/S SHALINI PROPERTIES & DEVELOPERS PVT LTD

The appeal stands dismissed, consequently the

Bench: : The Hon’Ble Justice T.S. Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Date: January 3, 2022. [Via Video Conference] Appearance : Mr. Tilak Mitra, Adv. Mr. A. Bhowmik, Adv. … For The Appellant/Revenue Mr. Chayan Gupta, Adv. Mr. Soumyajyoti Nandy, Adv. … For The Respondent The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 28Th February, 2017 Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata (The Tribunal) In Ita No. 171/Kol/2013 For The Assessment Year 2009-10. The Revenue Has Raised The Following Substantial Questions Of Law For Our Consideration :-

2. Whether on the facts and circumstances of the case the Learned Income Tax Appellate Tribunal has erred in law in not considering the provisions of Section 37 of the Income Tax Act, 1961 where under third party payment is not for business provisions and not allowable for deduction? 3. Whether on the facts and circumstance of the case

PRINCIPAL COMMISSIONER OF INCOME TAX-14, KOLKATA vs. PKS HOLDINGS

In the result, the appeal is partly allowed and the question nos

Bench: : The Hon’Ble Justice T.S. Sivagnanam

Section 43(5) of the Act and accordingly, disallowed the same. Further, the Assessing Officer observed that the transactions made through the stock broker had been held to be sham transactions when the Assessing Officer dealt with the issue relating to derivative loss and those findings will also be equally applicable to the issue relating to the loss in shares

PRINCIPAL COMMISSIONER OF INCOME TAX-3, KOLKATA vs. M/S. EIH LTD

In the result, the appeal filed by the revenue is

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

2 The revenue has raised the following substantial questions of law for consideration: (i) Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in law in deleting the disallowance of Rs.1,99,56,281/- being 60% of the aggregate expenditure incurred on running and maintenance of aircrafts without considering that the aircrafts were also

COMMISSIONER OF INCOME TAX 14 KOLKATA vs. RAMESH CHAND GUPTA

In the result, the appeal filed by the revenue is

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

2 The revenue has raised the following substantial questions of law for consideration: (i) Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in law in deleting the disallowance of Rs.1,99,56,281/- being 60% of the aggregate expenditure incurred on running and maintenance of aircrafts without considering that the aircrafts were also

PRINCIPAL COMM OF INCOME TAX, CENTRAL 1, KOLKATA vs. M/S BINANI INDUSTRIES LIMITED

The appeal is dismissed on the ground that the book profit as

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 24Th August, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. Madhur Agarwal Adv. Mr. Pranit Bag, Adv. Mr. A.K. Dey, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated March 02, 2016, Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In I.T.A. No.144/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Question Of Law :- “Whether The Amount Of Rs.12,65,75,000/-, Received By The Assessee On Account Of Forfeiture Of Shares Would Be Added To The Book Profits Of The

section 115JB Rs. 21,24,72,340 Less : Relief allowed as per Para 9 of the order Rs. 2,18,09,000 Rs. 19,06,63,340 Less : Dividend income Rs. 33,16,28,269 (-) Rs. 14,09,64,929 Add : Disallowance made by the assessee u/s. 14A Rs. 1,37,12,550 Book Profit

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL -1, KOLKATA vs. M/S BINANI INDUSTRIES LIMITED

The appeal is dismissed on the ground that the book profit as

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 24Th August, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. Madhur Agarwal Adv. Mr. Pranit Bag, Adv. Mr. A.K. Dey, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated March 02, 2016, Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In I.T.A. No.144/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Question Of Law :- “Whether The Amount Of Rs.12,65,75,000/-, Received By The Assessee On Account Of Forfeiture Of Shares Would Be Added To The Book Profits Of The

section 115JB Rs. 21,24,72,340 Less : Relief allowed as per Para 9 of the order Rs. 2,18,09,000 Rs. 19,06,63,340 Less : Dividend income Rs. 33,16,28,269 (-) Rs. 14,09,64,929 Add : Disallowance made by the assessee u/s. 14A Rs. 1,37,12,550 Book Profit

JET AGE SECURITIES PRIVATE LIMITED vs. COMMISSIONER OF INCOME TAX, KOLKATA-III

In the result, the appeal filed by the assessee is allowed and the

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

Section 94(7)(b) of the Act, had expired before the amendment was made by Finance (No. 2) Act, 2004 in respect of the units of mutual fund under consideration except in the case of units of M/s. Reliance Vision Fund in which the assessee incurred loss of Rs. 16,53,820/- and the dividend received