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 :-

15(SC). The operative portion of the judgment reads as follows:- “1. In the return filed by the respondent/assessee for the Assessment Year 1989-90 the assessee had disclosed that it had sold its loading platform M.V. Priyadarshni for a sum of Rs. 1,37,25,000/- on which it had earned some capital gains. On the said capital gains

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

Section 32(1)(iia) of the Act. Earlier the revenue had challenged the order passed by the Tribunal in ITA No.313 of 2008. The said appeal of the revenue was allowed and the order passed by the Tribunal was set aside on the ground that there was absolutely no application of mind by the Tribunal to the evidence which

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

15. The word ‘license’ has not been defined under the Act of 1961. It has been defined under Section 52 of the Easement Act, 1882, as under:- “52. Lincece, Defined-Where one person grants to another, or to a definite number of other persons, a right to do, or continue to do, in or upon the immovable property

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? b) Whether of the facts and circumstances of the case and in law, the Learned Income Tax Appellate Tribunal, “C” Bench, ITAT 230 of 2017 Page 3 of 14 was justified in reversing the finding of CIT (Appeals) in deleting the addition

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 ?

15(SC), wherein it was held that the assessee therein is entitled to exemption under Section 54E in respect of capital gains arising out of transfer of capital asset on which depreciation

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

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 “actually allowed.” Hence we find no merit in the civil appeals filed by the Department.” The next judgment cited by Mr. Majumdar in the case of Jayshree Tea and Industries Limited vs. Union of India reported in 285 ITR 506 (Cal) wherein a Division Bench of this Court held that Rule 8 was applicable to the additional income

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

15, 2022 passed by the Income Tax Appellate Tribunal, C Bench, Kolkata (Tribunal) in ITA No. 636/Kol/2018 for the Assessment Year 2013-14. The assessee has raised the following substantial questions of law for consideration: i) Whether the Learned Tribunal failed to consider that where the deduction under Section 801C was granted for substantial expansion for an initial assessment year

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 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

Section 40A(2)(b) of the Income Tax Act, 1961 to M/s. Shalimar Hatcheries Ltd. as submitted by the assessee itself ? v) Whether the Income Tax Appellate Tribunal erred in allowing 30% 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

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S GANESH REALTY AND MALL DEVELOPMENT PVT LTD

Accordingly, the appeal fails and the same stands dismissed

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

depreciation of Rs.8,04,49,959/- when 3 the nature of receipts is not in the nature of Business? We have heard Mr. Tilak Mitra, learned standing counsel appearing for the appellant/revenue and Mr. Vivek Murarka, learned standing counsel appearing for the respondent/assessee. The short question which falls for consideration is whether the treatment of the income as licence

COMMISSIONER OF INCOME TAX, KOL-III vs. M/S. KOTHARI GLOBAL LTD.

The appeals are dismissed

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

15) On a perusal of the said provision, it is evident that it is a sine qua non that there should be an allowance or deduction claimed by the assessee in any assessment for any year in respect of loss, expenditure or trading liability incurred by the assessee. Then, subsequently, during any previous year, if the creditor remits or waives

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.

15 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/183/2022 IA NO. GA/2/2022 PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA Vs M/S. UNIVERSAL CABLES LTD. BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : NOVEMBER 03, 2022. Appearance: Mr. Prithu Dudhoria, Adv. …for appellant Mr. J.P. Khaitan