PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA vs. KESORAM INDUSTRIES LTD.

The appeal is dismissed

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

56 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction [Income Tax] ORIGINAL SIDE ITA/131/2018 PRINCIPAL COMMISSIONER OF INCOME TAX- 2, KOLKATA VS KESORAM INDUSTRIES LTD BEFORE : THE HON’BLE JUSTICE SURYA PRAKASH KESARWANI And THE HON’BLE JUSTICE RAJARSHI BHARADWAJ Date : 22nd May, 2024 Appearance : Sri Smarajit Roy Chowdhury, Adv. ..for the appellant. Sri J.P. Khaitan, Sr. Adv. Smt. Nilanjana

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 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 the addition of Rs. 67,56,925/- under Section

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

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

56,90,244/-. ii) On account of not producing eight parties by the assessee during assessment proceedings under Section 133(6) of the Act, 1961: Rs.66,54,040/-. iii) On account of no reply submitted by six parties to notices under Section 133(6) of the Act, 1961: Rs.2,16,21,174/-. iv) On account of no reply received from

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

depreciation. The Learned Income Tax Appellate Tribunal has relied on the decision of the Hon’ble High Court in the case of Siliguri Regulated Market Committee (2014) 366 ITR 51, which has been accepted by the department. Moreover, on this issue, Hon’ble Supreme Court has dismissed departmental appeal in the case of Rajasthan and Gujarat Charitable Foundation, Poona

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

1. Heard Sri Prithu Dudheria, learned counsel for the appellant / Income Tax Department and Sri Akhilesh Kumar Gupta, learned counsel for the respondent/assessee. 2. This appeal was admitted by order dated 08.06.2018, on the following substantial questions of law:- “[i] Whether the decision of the Tribunal in confirming the order of the Assessing Officer passed under Section

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

1. Heard Sri Prithu Dudheria, learned counsel for the appellant / Income Tax Department and Sri Akhilesh Kumar Gupta, learned counsel for the respondent/assessee. 2. This appeal was admitted by order dated 08.06.2018, on the following substantial questions of law:- “[i] Whether the decision of the Tribunal in confirming the order of the Assessing Officer passed under Section

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

1, KOLKATA -Versus- M/S. GANESH REALTY AND MALL DEVELOPMENT PVT. LTD. Appearance: Mr. Tilak Mitra, Adv. ...for the appellant. Mr. Vivek Murarka, Adv. For the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 11th February, 2022. The Court : We have heard Mr. Tilak Mitra, learned standing counsel appearing for the appellant/revenue