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 ?

exemption under Section 54E in respect of capital gains arising out of transfer of capital asset on which depreciation has been

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

Exemption) – 1, Kolkata, who was the assessing 3 officer, completed the assessment under Section 143(3) determining the total income of the assessee at Rs.41,615/-. In the return of income the assessee claimed depreciation

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S UNIVERSAL CABLES LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : November 03, 2022. Appearance: Mr. Prithu Dudhoria, Adv. …For Appellant Mr. J.P. Khaitan, Sr. Adv. Mr. Sanjay Bhowmick, Adv. Ms. Swapna Das, Adv. Mr. Siddhertha Das, Adv. …For Respondent The Court :- This Appeal Filed By The Assessee Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 30Th November, 2022 Passed By The Income Tax Appellate Tribunal “A” Bench, Kolkata In Itat No. 1461/Kol/2019 For The Assessment Years 2014-15. The Assessee Has Raised The Following Substantial Questions Of Law For Consideration :- I) Whether The Assessee Was Entitled To Get Benefit Of Additional Depreciation @10% Amounting To Rs.1,35,64,743/- On The Assets Purchased & Put To Use On Latter Half Of The Financial Year 2012-13 Or Not ? Ii) Whether The Provisions Of Sec. 14A R.W. Rules, 1962 Could Be Invoked To Determine The Expenses Related To The Exempt Income Or Not ? We Have Heard Mr. Prithu Dudhoria, Learned Counsel For The Appellant & Mr. J.P. Khaitan, Learned Senior Advocate Duly Assisted By Mr. Sanjay Bhowmick, Learned Counsel For The For The Respondent.

depreciation @10% amounting to Rs.1,35,64,743/- on the assets purchased and put to use on latter half of the Financial Year 2012-13 or not ? ii) Whether the provisions of sec. 14A r.w. Rules, 1962 could be invoked to determine the expenses related to the exempt

PRINCIPAL COMMISSIONER OF INCOME TAX EXEMPTION,KOLKATA vs. MAA SARASWATI GYAN MANDIR EDUCATION SOCIETY

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 26Th July, 2022 Appearance :- Mr. Soumen Bhattacharjee, Adv. … For Appellant Mr. S.M. Surana, Adv. Mr. Bhaskar Sengupta, Adv. Md. Afzal Ansari, Adv. … For Respondent

EXEMPTION), KOLKATA VERSUS MAA SARASWATI GYAN MANDIR EDUCATION SOCIETY BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE BIVAS PATTANAYAK Date : 26th July, 2022 Appearance :- Mr. Soumen Bhattacharjee, Adv. … For Appellant Mr. S.M. Surana, Adv. Mr. Bhaskar Sengupta, Adv. Md. Afzal Ansari, Adv. … For Respondent The Court : We have heard Mr. Soumen Bhattacharjee, learned Counsel appearing

PRINCIPAL COMMISIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S SHALIMAR PELLET FEEDS LIMITED

In the result, the substantial questions of law framed

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

depreciation amounting to 3 Rs.14,68,279/- in the Assessment Year 2009-10 as claimed by the assessee since the same is entitled to 15% on lorries, which was not used for the business of hire ?” We have heard Ms. Smita Das De, learned standing counsel for the revenue and Mr. Abhratosh Majumdar, learned senior counsel assisted by Ms. Swapna

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

Appeal is allowed to the extent indicated

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

depreciation on the same will be claimed by ITC. However, it is mutually agreed that in the event of termination of this Agreement in the manner referred to in Article XVII below or on expiry of this Agreement by efflux of time the Assets will belong to EHIL and ITC shall have no right to them. An inventory of Fixed

COMMISSIONER OF INCOME TAX (EXEMPTION) , KOLKATA vs. B.P.PODDAR FOUNDATION FOR EDUCATION

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

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

EXEMPTION), KOLKATA VERSUS B.P. PODDAR FOUNDATION FOR EDUCATION Appearance:- Mr. Vipul Kundalia, Senior Advocate. Mr. Anurag Roy, Advocate. .….For the Appellant. Mr. Saurabh Bagaria, Advocate. Mr. Saumya Kejriwal, Advocate. Mr. G.S. Gupta, Advocate. …..For the Respondent. ITAT NO. 143 OF 2021 Page 2 of 16 JUDGMENT (Judgment of the Court was delivered by T.S.SIVAGNANAM, J.) 1. This appeal filed

PRINCIPAL COMMISSIONER OF INCOME TAX -4, KOLKATA vs. M/S. RELIANCE CHEMOTEX INDUSTRIES LTD

In the result, the appeal filed by the revenue stands

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

depreciation and commission to foreign and Indian agents. The other issue was with regard to the restricting the disallowance under Section 14A of the Act read with Rule 8D of the Income Tax Rules, 1962. On the first three issues we find that the tribunal has made a thorough factual exercise and took note of the documents and details noted