PRINCIPAL COMMISSIONER OF INCOME TAX(TDS) , KOLKATA vs. NIRMAL KUMAR KEJRIWAL

In the result, the appeal filed by the

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE BIVAS PATTANAYAK

TDS) KOLKATA -Versus- NIRMAL KUMAR KEJRIWAL Appearance: Mr. Soumen Bhattacharyya, Adv. ...for the appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. ...for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE BIVAS PATTANAYAK Date : 22nd July, 2022. The Court : This appeal filed by the revenue under Section 260A of the Income

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

1) read with Section 195 of the Income Tax Act? (ix) Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in law in deleting the disallowance under Section 40(a)(i) of Rs.3,37,48,429/- paid as commission to non residents without considering the facts pertaining to such expenses were not produced

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

1) read with Section 195 of the Income Tax Act? (ix) Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in law in deleting the disallowance under Section 40(a)(i) of Rs.3,37,48,429/- paid as commission to non residents without considering the facts pertaining to such expenses were not produced

SMT. CHETNA JAIN vs. COMMISSIONER OF INCOME TAX

The appeal is allowed and the order passed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 20Th July, 2022. Appearance :- Mr. Ananda Sen, Adv. ….For Appellant. Mr. Smarajit Roychowdhury, Adv. …For Respondent

TDS from the tax payable by her for the assessment year 2005-06. The appellate authority by order dated 18th November, 2013 dismissed the application on the ground that the plea raised by the assessee was beyond the scope of Section 154 of the Act. The assessee filed appeal against the said order before the learned Tribunal. The learned Tribunal

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 :

TDS for information technology expense, information technology expense, patent registration charges, advances written off, excise duty debited to profit and loss account, disallowance under Section 40(a) for payment made for export commission, disallowance under Section 40(a) for payment made to foreign parties, bogus purchases, liquidated damages, income tax interest expense, commission to non-executive directors, disallowance under Section

PRINCIPAL COMM OF INCOME TAX -4, KOLKATA vs. M/S LINDE INDIA LIMITED

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

4 of 13 8. The learned Tribunal by an order dated February 17, 2016 allowed the appeal of the assessee in part and dismissed the appeal of the revenue. The learned Tribunal was pleased to hold that no disallowance could be made under Sections 40(a)(i)/ 40(a)(ia) of the Act. On the issue of capital gains

DEYS MEDICAL (U.P.) PRIVATE LIMITED vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 2 KOLKATA

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

4. The facts in a nutshell are that the appellant, pursuant to agreements dated April 1, 2004 and July 14, 2004, reimbursed the Cosmetics Manufacturing Company and the Medicine Manufacturing Company substantial sums towards various expenses incurred on its behalf. Specifically, the appellant reimbursed Rs.1,89,60,902/- towards advertisement expenses and Rs.57,08,489/- towards marketing staff expenses

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

1) of the Act. In response to such notices, the assessee’s authorised representative appeared before the Assessing Officer. With regard to the first issue, namely, the loss on derivative, the assessee claimed the loss arising from future option, loss on transaction entered on National Stock Exchange (NSE) as appeared in Form 10DB. As per the content of the said

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

4 of 12 has occurred in the previous assessment. Thus, the CIT(A) held that the assessee has proved its bona fide as an investor of shares and taking totality of the facts into consideration, the assessee was allowed to compute the income arising from purchase and sale of shares to be income arising from investment chargeable

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 :-

Section 37(1) of the Income Tax Act, 1961? 3 We have heard Mr. Tilak Mitra, learned standing Counsel for the appellant and Mr. Chayan Gupta, learned Counsel appearing for the respondent/assessee. We have heard elaborately the learned Counsel for the parties and carefully perused the materials placed on record. We find that the issue before us is entirely factual

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. DEBABRATA BANERJEE

Accordingly, the appeal fails and the same is dismissed

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Chaitali Chatterjee (Das) Date : 18Th July, 2025.

1) was issued and, subsequently, the case was transferred to the DCIT, Circle-34, Kolkata, who proceeded further for making the assessment. The said authority issued show cause notice dated 30.11.2015 calling upon the assessee to show cause on various issues concerning the assessment and the issues which were to be discussed included the issue relating

SAUMABHA DASGUPTA vs. THE COMMISSIONER OF INCOME TAX (APPEAL) 6 KOLKATA AND ANR

Bench: The Hon’Ble Justice Harish Tandon The Hon’Ble Justice Prasenjit Biswas Date: 5Th July, 2023 Appearance Mr. Raghunath Das, Advocate Ms. Monalisa Das, Advocate ….For The Appellant Mr. Prithu Dudheria, Advocate …For The Respondents The Court: This Is Virtually A Second Round Of Litigation Before This Court, Assailing An Order Of Income Tax Appellate Tribunal, Kolkata Bench “Sms” Kolkata Dismissing The Appeal Filed By The Assessee/Petitioner Pertaining To The Assessment Year 2009-10. While Filing The Income Tax Return, The Petitioner Disclosed The Income & Further Deducted The Amount Of Interest Paid On Personal Loan & Other Loans. At The Time Of Scrutiny, It Was Found That Substantial Amount Of Money Was Deposited In Cash With The Savings Bank Account By The Petitioner Who Is Admittedly A Medical Practitioner & Purchased A Ct Scan Machine For His Profession Or Business. The Department Was Of The View That The Personal Loan Cannot Be Equated With The Business Loan Where The Interest Is An Allowable

Section 32(1) of the Income Tax Act. The department assailed the order of Tribunal before this Court and the said appeal was disposed of modifying the order relatable to the percentage of depreciation without interfering and touching upon the merit and the other part of the order of the Tribunal. This Court held that the petitioner is entitled

PRINCIPAL COMMISSIONER OF INCOME TAX 5,KOLKATA vs. ADITYA SARAF HUF

Bench: The Hon’Ble Justice Harish Tandon The Hon’Ble Justice Prasenjit Biswas Date: 5Th July, 2023 Appearance Mr. Raghunath Das, Advocate Ms. Monalisa Das, Advocate ….For The Appellant Mr. Prithu Dudheria, Advocate …For The Respondents The Court: This Is Virtually A Second Round Of Litigation Before This Court, Assailing An Order Of Income Tax Appellate Tribunal, Kolkata Bench “Sms” Kolkata Dismissing The Appeal Filed By The Assessee/Petitioner Pertaining To The Assessment Year 2009-10. While Filing The Income Tax Return, The Petitioner Disclosed The Income & Further Deducted The Amount Of Interest Paid On Personal Loan & Other Loans. At The Time Of Scrutiny, It Was Found That Substantial Amount Of Money Was Deposited In Cash With The Savings Bank Account By The Petitioner Who Is Admittedly A Medical Practitioner & Purchased A Ct Scan Machine For His Profession Or Business. The Department Was Of The View That The Personal Loan Cannot Be Equated With The Business Loan Where The Interest Is An Allowable

Section 32(1) of the Income Tax Act. The department assailed the order of Tribunal before this Court and the said appeal was disposed of modifying the order relatable to the percentage of depreciation without interfering and touching upon the merit and the other part of the order of the Tribunal. This Court held that the petitioner is entitled

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. M/S SREELEATHERS

Accordingly, the appeal fails and is dismissed

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE BIVAS PATTANAYAK

4 of 14 further stated that they availed loans during peak season of their business activity and after the season is over, the loan is repaid along with interest after deducting taxes on source. Thus, the assessee contended that the identity of the lender has been established, genuineness of the transaction has been proved and the creditworthiness of the lender

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. TAPAN KANTI ROY

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

4 of the learned Tribunal’s order is read as follows:- “We have carefully considered the rival submissions and also gone through the documents before us. Right at the outset, it deserves to be mentioned that the provisions of section 68 of the Act cast an onus on any assessee to prove a loan transaction from the point of verifiability

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

1,37,12,550 Book Profit (-) Rs. 12,72,52,379 Tax thereon NIL Less : TDS Rs.30,51,616/- Refundable Rs.30,51,616/- 3 From the above computation, it is seen that the book profit is a negative balance. Therefore, even assuming that we are to take it for consideration the question of law which has been admitted and assuming

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

1,37,12,550 Book Profit (-) Rs. 12,72,52,379 Tax thereon NIL Less : TDS Rs.30,51,616/- Refundable Rs.30,51,616/- 3 From the above computation, it is seen that the book profit is a negative balance. Therefore, even assuming that we are to take it for consideration the question of law which has been admitted and assuming

COMMISSIONER OF INCOME TAX, KOLKATA XIX, KOLKATA vs. M/S SANDERSON AND MORGANS

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 7Th February, 2024 Appearance: Mr. Vipul Kundalia, Adv. Mr. Soumen Bhattacharjee, Adv. ...For The Appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. Ms. Swapna Das, Adv. Mr. Asit Kumar De, Adv. ...For The Respondent. 1. Heard Sri Vipul Kundalia, Learned Senior Standing Counsel Along With Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant/Department & Sri J. P. Khaitan, Learned Senior Counsel Assisted By Sri Ananda Sen, Smt. Swapna Das & Sri Asit Kumar De, Learned Advocates For The Respondent/Assessee.

1. Heard Sri Vipul Kundalia, learned senior standing counsel along with Sri Soumen Bhattacharjee, learned junior standing counsel for the appellant/Department and Sri J. P. Khaitan, learned senior counsel assisted by Sri Ananda Sen, Smt. Swapna Das and Sri Asit Kumar De, learned Advocates for the respondent/assessee. 2 2. This appeal was admitted by an order dated

COMMISSIONER OF INCOME TAX, CENTRAL II, KOLKATA vs. HALDIRAM BHUJIWALA LIMITED

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 7Th February, 2024 Appearance: Mr. Vipul Kundalia, Adv. Mr. Soumen Bhattacharjee, Adv. ...For The Appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. Ms. Swapna Das, Adv. Mr. Asit Kumar De, Adv. ...For The Respondent. 1. Heard Sri Vipul Kundalia, Learned Senior Standing Counsel Along With Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant/Department & Sri J. P. Khaitan, Learned Senior Counsel Assisted By Sri Ananda Sen, Smt. Swapna Das & Sri Asit Kumar De, Learned Advocates For The Respondent/Assessee.

1. Heard Sri Vipul Kundalia, learned senior standing counsel along with Sri Soumen Bhattacharjee, learned junior standing counsel for the appellant/Department and Sri J. P. Khaitan, learned senior counsel assisted by Sri Ananda Sen, Smt. Swapna Das and Sri Asit Kumar De, learned Advocates for the respondent/assessee. 2 2. This appeal was admitted by an order dated