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

Accordingly, the appeal fails and it is dismissed

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

depreciation claimed in the profit and loss account was depreciation claimed as per the Companies Act 1956 and that depreciation

THE COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION & TRA vs. JOY PARTNERSHIP MINING CENTRE

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

depreciation, the entire amount of depreciation computed incorrectly at Rs. 18,74,034/- is disallowed and added back to the total

PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA vs. MCLEOD RUSSEL INDIA LTD.

Would be that the agricultural income itself would become liable

Bench: : The Hon’Ble Justice T.S. Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Date: November 30, 2021. Appearance : Mr. P. K. Bhowmik, Adv. Mr. Soumen Bhattacharjee, Adv. … For The Appellant Mr. Asim Chaudhury, Adv. …For The Respondent The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act, In Brevity) Is Against The Order Dated 8Th October, 2015 Passed By The Income Tax Appellate Tribunal “C” Bench, Kolkata In Ita Nos. 262 & 263/Kol/2013 For The Assessment Years 2008-09 & 2009-10. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration:

depreciation is required to be taken into account because that is the depreciation “actually allowed.” Hence we find no merit

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

depreciation on the same life 3 saving machine but law permits depreciation to the extent of 40% and it would

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

depreciation on the same life 3 saving machine but law permits depreciation to the extent of 40% and it would

PRINCIPAL COMMISSIONER OF INCOME TAX,CENTRAL -1, KOLKATA vs. SHALIMAR PELLET FEEDS LTD.

In the result the appeals in so far as the assessment

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

depreciation, suppression of sale and disallowance in case of depreciation was not based on incriminating material ignoring the fact that

PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL-1), KOLKATA vs. RAMKRISHNA FORGING LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 27Th July, 2022 Appearance : Mr. Tilak Mitra, Adv., ….For Appellant Mr. S.M. Surana, Adv. Ms. Swapna Das, Adv. Mr. Siddhartha Das, Adv. …For Respondent The Court : This Appeal Filed By Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 13Th February 2019 Passed By The Income Tax Appellate Tribunal “A” Bench, Kolkata In I.T.(Ss).A. No. 09 (Kol) Of 2017 Relating To The A.Y. 2010-2011.. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration :- (I) Whether On The Facts & Circumstances Of The Case, The Provision For Allowing Additional Depreciation Of Remaining 50% Is Allowable In The Subsequent Year I.E. Assessment Year 2010-11, Although The Statute Allowed The Same W.E.F. 01.04.2016 ? (Ii) Whether On The Facts & Circumstances Of The Case, The Learned Income Tax Appellate Tribunal Erred On Facts By Not Appreciating The Legal Provisions That Disallowance Of The Claim Of The Remaining Additional

depreciation under Section 32(1)(iia) could be allowed on same in that year, balance additional depreciation of 10% could

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

In the result, the appeal (ITA/62/2018) is dismissed

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

depreciation was contrary to law or not? (ii) Whether the finding of the Tribunal in permitting deduction of lease rent

PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. ANANDA BAZAR PATRIKA PVT LTD

Accordingly the appeal ITAT/173/2021 fails and is dismissed

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

depreciation on assets purchased and acquired before 31.03.2002 as because as per Section 32(1)(iia) additional depreciation can only

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA 4.KOLKATA vs. M/S. V2 RETAIL LIMITED

The appeal stands disposed of on

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

depreciation under Section 32(I)(iia) read with proviso (B) is allowable to the assessee despite the fact that proviso

BHAG CHAND CHHABRA A HINDU UNDIVIDED FAMILY vs. PRINCIPAL COMMISSIONER OF INCOME TAX 12

In the result, the appeal (ITA/62/2018) is dismissed

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

depreciation was contrary to law or not? (ii) Whether the finding of the Tribunal in permitting deduction of lease rent

COMMISSIONER OF INCOME TAX (EXEMPTION) KOLKATA vs. INTEGRATED EDUCATION & RESEARCH CENTRE FOR ENGINEERING & MAN

The appeal stands dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 28Th July, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Dwip Raj Basu, 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 1St June, 2016, Passed By The Income Tax Appellate Tribunal “C” Bench, Kolkata In Ita No. 620/Kol/2016 For The Assessment Year 2012-13. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration. I) Whether On The Facts & In The Circumstances Of The Case, The Learned Tribunal Erred In Law In Not Considering That Allowing Depreciation In Respect Of A Depreciable Asset For Which The Assessee

depreciation in respect of a depreciable asset for which the assessee 2 has already claimed deduction under section 35(2)(iv) of the Income

PRINCIPAL COMMISSIONER OF INCOME TAX-3 , KOLKATA vs. M/S. DAMODAR VALLEY CORPORATION

The appeal stands dismissed

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

depreciation @20% under Section 32(1)(iia) which was allowed by the A.O. without any enquiry? b) Whether on the facts

M/S. DEVELOPMENT CONSULTANTS PVT. LTD. vs. COMMISSIONER OF INCOME TAX, KOLKATA-IV, & ANR.

The appeal is allowed

Bench: :

depreciation on account of write back of depreciation could have been allowed when the assessee failed to make such a claim

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

Accordingly, the appeal fails and is dismissed

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

depreciation debited in books in relation to scientific research assets. Thereafter, another show cause notice was issued on 23.12.2018 requiring

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA 4 vs. EVEREADY INDUSTRIES INDIA LIMITED

In the result, the appeal (ITAT/233/2018) is dismissed and the

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 30Th November, 2021 Appearance :-

depreciable asset and non-depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied

M/S C AND E LIMITED vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX KOLKATA 4 KOLKATA

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

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

depreciation. The assessee furnished their written submissions and appeared before the PCIT in person. It was contended that proceedings under

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 ?

depreciable assets under Section 50 of the Income Tax Act, 1961 thereby misread and misinterpreted the said provision of law and so the direction