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

Section 143(3) of the Income Tax Act, 1961 (hereinafter Page 5 of 77 referred to as ‘the Act, 1961’) relating to the assessment year 2006-07. 6. In appeal filed by the respondent ITC before the CIT[Appeal], the appeal was allowed and the receipt of the aforesaid amount of Rs.32.42 crores was held to be a capital receipt

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

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

depreciation of Rs.2,39,93,843/-. 15. The ITAT has allowed the cross objection of the assessee on the preliminary issue of jurisdiction of the assessing officer for reassessment under Section 147 of the Act, 1961 that the reassessment proceeding was based on change of opinion. The findings recorded by the ITAT in 11 this regard in paragraphs

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

Section 35, in the sub column A1 the figure debited to the statement of profit and loss has been shown as ITAT NO. 211 OF 2022 REPORTABLE Page 7 of 10 Rs. 219,556,764/- in column A(ii)the amount admissible (net depreciation and asset written off) Rs. 206, 111,599/- has been mentioned. In column

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

depreciation etc. Aggrieved by such order the assessee preferred an appeal before the leaned Tribunal. It was contended before the Tribunal that the CIT(A) failed to take note of the material irregularity committed by the Assessing Officer while initiating proceedings under Section 148 of the Act for reopening assessment under Section 147 without noting the vital fact that

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

20 contains trial balance for the period from 1.4.2012 to 31.3.2013 which are part of the regular books of account of the assessee and there is nothing incriminating therein and in any case the seized documents pertain to the assessment year 2013-14 and cannot be termed as 8 incriminating for the assessment year 2009-10. Thus, the argument

PRINCIPAL COMMISSIONER OF INCOME TAX, KOL-3, KOLKATA vs. SIKARIA INFRAPROJECTS PVT. LTD.

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

20 of its order, concluded in paragraph 21 and 22 as under: “It is well-settled that in a best judgment assessment there is always a certain degree of guess work. No doubt the authorities concerned should try to make an honest and fair estimate of the income even in a best judgment assessment, and should not act totally arbitrarily