PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. M/S. THE PEERLESS GENERAL FINANCE AND INVESTMENT CO. LTD.

In the result, the appeal is dismissed and the substantial questions of law

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : 12Th September, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Abhijit Chatterjee, Sr. Adv. Mr. Gopal Ram Sharma, Adv. …For Respondent The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated 22Nd July, 2020, Passed By The Income Tax Appellate Tribunal, Kolkata Bench, `D Virtual Court’, Kolkata (Tribunal) In Ita No. 1486/Kol/2019, For The Assessment Year 2014-15. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration :- A. Whether The Learned Tribunal Has Committed Substantial Error In Law In Confirming The Decision Of Learned Commissioner Of Income Tax (Appeals) In Allowing Long Term Capital Loss Of Rs. 1,09,80,30,873/- On Transfer Of Government Securities After Applying Cost Inflation Index On Sale Of Government Securities & Holding He Government Securities Are Not Bond & Debentures For The Purpose Of 3Rd Proviso To Section 48 Of The Act (4Th Proviso After Amendment) Which Is Petently Wrong & Latently Irregular ?

Section 37(1) of the Income Tax Act, 1961, which is not in accordance with law and as such present because it is a part of Income Tax ? We have heard Mr. Soumen Bhattacharjee, learned standing Counsel appearing for the appellant/revenue and Mr. Abhijit Chatterjee, learned Senior Counsel, assisted by Mr. Gopal Ram Sharma, learned Advocate for the respondent/assessee

PR COMMISSIONER OF INCOME TAX 1 vs. SHRI RAMESH PRASAD SAO

Accordingly, the appeal fails and is dismissed

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

condone the delay in filing the appeal. The assessee is a company engaged in the business of mining iron ore and manganese. It filed its return of income for the assessment year under consideration i.e. A.Y. 2014-15 and the assessment was completed under Section 143(3) of the Act by order dated 29th December, 2006. During the course

PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA vs. HINDUSTAN GUM AND CHEMICALS LTD

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

condonation of delay of 497 days in filing thereof. The following substantial questions of law were sought to be raised :- ITAT/40/2020 2 (i) Whether on the facts and circumstances of the case the Learned Income Tax Appellate Tribunal is justified in law in not considering the CBDT Instruction No. 3/2010 dated 23rd March, 2010 which stipulates that notional loss

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-5, KOLKATA vs. M/S MERLIN RESOURCES PRIVATE LIMITED

Bench: HON'BLE JUSTICE I. P. MUKERJI,HON'BLE JUSTICE MD. NIZAMUDDIN

condonation of delay of 497 days in filing thereof. The following substantial questions of law were sought to be raised :- ITAT/40/2020 2 (i) Whether on the facts and circumstances of the case the Learned Income Tax Appellate Tribunal is justified in law in not considering the CBDT Instruction No. 3/2010 dated 23rd March, 2010 which stipulates that notional loss

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. PREMIER TIE UP PVT LTD

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

delaying a decision on such application cannot midway turn around and decide not to pursue the challenge application, and then prefer an independent application under Section 14 of the Act before the Court, basically on the same ground raised in the former, urging that de jure inability of the arbitrator disqualifies him to continue proceedings. The learned Judge was right

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

Accordingly, the appeal fails and is dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 9Th January, 2023 Appearance : Mr. Prithu Dudhoria, Adv. ….For Appellant Mr. Avra Majumder, Adv. Mr. Binayak Gupta, Adv. Mr. Suman Bhowmick, Adv. …For The Respondent The Court : We Have Heard Mr. Prithu Dudhoria, Learned Standing Counsel Appearing For The Appellant & Mr. Avra Majumder, Learned Counsel Appearing For The Respondent/Assessee. Though There Is No Satisfactory Explanation For The Inordinate Delay Of 1018 Days In Filing The Appeal, Since We Are Inclined To Take Up The Main Appeal Itself For Consideration & To Ascertain As To Whether Any Substantial Question Of Law Arises For Consideration, We Exercise Discretion & Condone The Delay In Filing The Appeal. For Such Reason, The Application Being Ia No.:Ga/1/2022 Is Allowed.

condone the delay in filing the appeal. For such reason, the application being IA No.:GA/1/2022 is allowed. 2 ITAT/241/2022 This appeal filed by the revenue under Section 260A of the Income Tax Act (the Act, for brevity) is directed against the order dated 6th September, 2019 passed by the Income Tax Appellate Tribunal, `C’ Bench, Kolkata (Tribunal) in I.T.A

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S COSMIC FERRO ALLOYS LTD

In the result, all the appeals of the assessee are allowed

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

delay is condoned. The application being GA/1/2025 is allowed. Learned counsel appearing for the appellant files affidavit of service not only in respect of the respondent/assessee but also in respect of the resolution professional appointed by NCLT under Insolvency and Bankruptcy Code, 2016. Involvement of tax in this matter is only Rs.60,37,174/-. However, learned 2 counsel appearing

PRINCIPAL COMMISSIONER OF INCOME TAX ,KOLKATA -12 ,KOLKATA vs. SRI RAGHU NANDAN MODI

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 26Th July, 2022 Appearance : Mr. Prithu Dudhoria, Adv… For The Appellant. Mr. Sohom Sen, Adv. ….For Respondent. Ga/1/2018 The Court : There Is A Delay Of 124 Days In Filing The Appeal. We Have Perused The Affidavit Filed In Support Of The Petition & Find That Sufficient Cause Has Been Shown For Not Having Preferred The Appeal Within The Time. Hence, The Delay Is Condoned. The Application Is Allowed.

delay is condoned. The application is allowed. ITAT/175/2018 We have heard Mr. Prithu Dudhoria, learned standing Counsel for the appellant and Mr. Sohom Sen, learned Advocate for the respondent. 2 This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 11th August, 2017 passed by the Income

PRINCIPAL COMMISSIONER OF INCOME TAX ,BURDWAN vs. BIJAYA TAH

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX -5,KOLKATA vs. SWATI BAJAJ

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. POOJA JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA vs. GITESH TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX, SILIGURI vs. PRAKASHO DEVI SARIA

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX-15, KOLKATA vs. SMT. BABITA AGARWAL

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX, SILIGURI vs. SRI SATYA NARAYAN SARIA

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1, KOLKATA vs. KRISHNA KUMAR PARSURAMKA

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. JEMISH SHAH

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed

PR CIT 9, KOLKATA vs. MANISHA TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 263 could not have been exercised and such power could have been exercised only when the assessing officer failed to conduct an enquiry which is not the case of the assessee before this Court. With regard to under what circumstances the power under Section 263 could be invoked and the parameters to be fulfilled, reliance was placed