PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-I, KOLKATA vs. VIVEK MUNDRA

In the result, the connected application for stay IA

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

condonation of delay (IA No.GA/1/2018 (old No.GA/593/2018) is allowed. 2 Re: ITAT/59/2018: This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the ‘Act’ in brevity) is directed against the order dated 2nd June, 2017 passed by the Income Tax Appellate Tribunal, “C” Bench, Kolkata (the ‘Tribunal’ in short) ITA No.2171/Kol/2014

MA/S SKYSCRAPER PROJECTS PVT LTD. vs. ADDITIONAL COMMISSIONER OF INCOME TAX, CIRCLE-10(2), KOLKATA

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

condone delay application, GA 1 of 2025, is allowed. The issue involved in the instant case is whether the learned Tribunal was justified in setting aside the order passed by the Appellate authority namely, Commissioner of Income Tax (Appeal - 4), Kolkata [CIT(A)] and remanding the matter to the Assessing Officer to consider whether addition is required to be made

PRINCIPAL COMMISSIONER OF INCOME TAX ASANSOL vs. M/S EASTERN COALFIELDS LTD

In the result, the appeal filed by the revenue is dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : September 27, 2022. Appearance: Ms. Smita Das De, Adv. … For Appellant Mr. Rajeev Kumar Agarwal, Adv. …For Respondent. Ga/1/2022 The Court :- We Have Heard Ms. Smita Das De, Learned Standing Counsel For The Appellant & Mr. Rajeev Kumar Agarwal, Learned Counsel For The Respondent. There Is A Delay Of 511 Days In Filing The Appeal. On Perusal Of The Application We Are Satisfied That Sufficient Cause Has Been Shown For Not Being Able To Prefer The Appeal Within The Period Of Limitation. The Delay In Filing The Appeal Is Condoned. Accordingly, The Application For Condonation Of Delay Is Allowed.

condonation of delay is allowed. ITAT/153/2022 This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated September 24, 2020 passed by the Income Tax Appellate Tribunal ‘B’ Bench Kolkata (Tribunal) in ITA Nos. 890 & 891 [Kol] of 2019 for the assessment year 2009-2010. The revenue

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 ?

79,36,337/- against the short term gain computed on depreciable assets under Section 50 of the Income Tax Act, 1961 thereby misread and misinterpreted the said provision of law and so the direction of Tribunal is perverse ? C. Whether the Learned Tribunal has committed substantial error in law in confirming the decision of Ld. CIT(A) for deleting

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1,KOLKATA vs. M/S.BOHRA G AND N N BROTHERS PRIVATE LIMITED

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

condone the delay. Accordingly, IA GA No.1 of 2021 stands disposed of. This appeal of revenue filed under Section 260A of the Income Tax Act, 1961 (the ‘Act’ in brevity) is directed against the order dated 28th February, 2019 passed by the Income Tax Appellate Tribunal, Kolkata “A” Bench (the ‘Tribunal’ in short) in IT(SS)A No.89/Kol/2017

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, 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. 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 CENTRAL -1, KOLKATA vs. SURAJ SAHANA

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 vs. MUKESH SARAOGI (HUF)

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

PRINCIPAL COMMISSIONER OF INCOME TAX-12, KOLKATA vs. MUKTA 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-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-SILIGURI vs. SHEKHAR 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 ,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 9, KOLKATA vs. PUSPA DEVI 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

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

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