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 under section 11(1A) of the Act since the tax effect on this issue is less than the threshold limit? (iii) Whether disallowance

M/S. SHEO SHAKTI COKE INDUSTRIES vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 37, KOLKATA

In the result, the writ petition is dismissed

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

exemption from tax under Rule 33A of the West Bengal Value Added Tax Rules, 2005 (the Rules) in respect of the sales made to the writ petitioner amounting to Rs. 18,60,65,057/-. The assessing authority of the said bank disallowed

COMMISSIONER OF INCOME TAX (LARGE TAX PAYERS UNIT) KOLKATA vs. M/S CENTURY PLYBOARDS (I) LTD

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

disallowed and earning of exempt income. The respondents as earlier noted, have failed to substantiate their argument that the assessee

COMMISSIONER OF INCOME TAX (LARGE TAX PAYERS UNIT), KOLKATA vs. M/S. CENTURY PLYBOARDS (I) LTD

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

disallowed and earning of exempt income. The respondents as earlier noted, have failed to substantiate their argument that the assessee

COMMISSIONER OF INCOME TAX (LARGE TAX PAYERS UNIT) KOLKATA vs. CENTURY PLYBOARDS (INDIA) LTD.

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

disallowed and earning of exempt income. The respondents as earlier noted, have failed to substantiate their argument that the assessee

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S SUVARNA COMMERCIAL PVT LTD

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

disallowed and earning of exempt income. The respondents as earlier noted, have failed to substantiate their argument that the assessee

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. M/S STEEL AUTHORITY OF INDIA EMPLOYEES CO OPERATIVE CREDIT SOCIETY LTD

In the result, the appeals filed by the revenue are dismissed and the

Bench: : The Hon’Ble Acting Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 10Th April, 2023 Appearance : Ms. Smita Das De, Adv. …For The Appellant Mr. Saumya Kejriwal, Adv. Mr. G.S. Gupta, Adv. …For The Respondent The Court : We Have Heard Ms. Smita Das De, Learned Standing Counsel For The Appellant & Mr. Saumya Kejriwal, Learned Counsel For The Respondent. There Is A Delay Of 168 Days In Filing These Appeals.

disallowances under Section 14A of the said Act was not applicable on the exempt income earned by the assessee ? b) Whether

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. M/S STEEL AUTHORITY OF INDIA EMPLOYEES CO OPERATIVE CREDIT SOCIETY LTD

In the result, the appeals filed by the revenue are dismissed and the

Bench: : The Hon’Ble Acting Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 10Th April, 2023 Appearance : Ms. Smita Das De, Adv. …For The Appellant Mr. Saumya Kejriwal, Adv. Mr. G.S. Gupta, Adv. …For The Respondent The Court : We Have Heard Ms. Smita Das De, Learned Standing Counsel For The Appellant & Mr. Saumya Kejriwal, Learned Counsel For The Respondent. There Is A Delay Of 168 Days In Filing These Appeals.

disallowances under Section 14A of the said Act was not applicable on the exempt income earned by the assessee ? b) Whether

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. RAGHVENDRA MOHTA

The appeal is dismissed and the substantial questions of

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Chaitali Chatterjee (Das) Date : 5Th May, 2025.

disallowing the assessee’s claim of exemption of bogus LTCG without going into the merits of the case and examining

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

disallowance under the said provision cannot exceed the exempt income. We find no error in approach of the tribunal. Thus

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. ISG TRADERS LTD

Accordingly, the appeal fails and dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : September 12, 2022. Appearance: Mr. Prithu Dudhoria, Adv. … For Appellant Mr. Moloy Dhar, Adv. …For Respondent The Court : Heard Mr. Prithu Dudhoria, Learned Standing Counsel For The Appellant & Mr. Moloy Dhar, Advocate Learned Advocate For The Respondent. There Is A Delay Of 559 Days In Filing The Appeal. Though The Explanation Offered Is Not Fully Satisfactory, Since We Have Suggested That The Appeal Itslef Can Be Heard & Submissions Were Heard On The Merits Of The Matter We Exercise Discretion & Condone The Delay In Filing The Appeal. The Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act (The Act) Is Directed Against The Order Dated 5Th June, 2020 Passed By The Learned Income Tax Appellate Tribunal “B” Bench Kolkata In Ita No. 1610/Kol/2019 For The Assessment Year 2012-13.

disallowance under Section 14A of the Act is to be restricted to the amount of exempt income only and not to a higher

PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA vs. M/S. SREI INFRASTRUCTURE FINANCE LIMITED

Accordingly the same stands dismissed without

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Hiranmay Bhattacharyya Date : 24Th May, 2024. Appearance : Mr. Aryak Dutt, Adv. Mr. Prithu Dudhoria, Adv. …For Appellant.

disallowance u/s 14A can be done considering only those investment which yielded exempt income during 4 the year whereas explicit

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S EDMOND FINVEST PVT LTD

Bench: : The Hon’Ble The Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 26Th February, 2024. Appearance : Mr. Amit Sharma, Adv. …For Appellant Mr. Pratyush Jhunjhunwala, Adv. …For Respondent The Court :- Heard Learned Counsel On Both Sides. This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 16Th May, 2023 Passed By The Income Tax Appellate Tribunal ‘B’ Bench, Kolkata In I.T.A. No. 96/Kol/2021 For The Assessment Year 2015-2016. The Revenue Has Raised The Following Substantial Questions Of Low For Consideration :- I) Whether The Learned Income Tax Appellate Tribunal Has Committed Substantial Error In Law In Upholding The Order Of The Commissioner Of Income Tax (Appeals) Deleting The Addition Made Under Section 68 Of The Income Tax Act, 1961 On Account Of Unexplained Unsecured Loan Transactions & Interest Expense Corresponding To Such Unexplained Loan Transactions By Holding That The Assessing Officer

disallowance under Section 14A of the Income Tax Act, 1961 is not dependent on the amount of exempt income earned

PRINCIPAL COMM OF INCOME TAX CENTRAL , KOLKATA 2 vs. M/S HOOGLY MILLS CO LTD

The appeal stands disposed of on the ground of low tax

Bench: : The Hon’Ble Justice T.S. Sivagnanam

disallowance under Section 14A of the Income Tax Act, 1961 cannot be made in a year in which no exempt

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. JEMISH SHAH

In the result, these appeals are allowed and the substantial

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

disallowance of Long Term Capital Gains of Rs. 28,23,500/- overlooking the fact that the entire transactions were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital Gains of Rs. 28,23,500/- and claim bogus exemption

PRINCIPAL COMMISSIONER OF INCOME TAX-SILIGURI vs. SHEKHAR AGARWAL

In the result, these appeals are allowed and the substantial

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

disallowance of Long Term Capital Gains of Rs. 28,23,500/- overlooking the fact that the entire transactions were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital Gains of Rs. 28,23,500/- and claim bogus exemption

PRINCIPAL COMMISSIONER OF INCOME TAX, SILIGURI vs. SRI SATYA NARAYAN SARIA

In the result, these appeals are allowed and the substantial

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

disallowance of Long Term Capital Gains of Rs. 28,23,500/- overlooking the fact that the entire transactions were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital Gains of Rs. 28,23,500/- and claim bogus exemption

PRINCIPAL COMMISSIONER OF INCOME TAX ASANSOL KOLKATA vs. RAKESH JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

disallowance of Long Term Capital Gains of Rs. 28,23,500/- overlooking the fact that the entire transactions were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital Gains of Rs. 28,23,500/- and claim bogus exemption