PRINCIPAL COMMISSIONER OF INCOME TAX-5,KOKATA vs. M/S. L.G.W. LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : August 12, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. J.P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Of The Income Tax Appellate Tribunal “C” Bench, Kolkata (Tribunal) Dated 5Th October, 2018 In I.T.A. No.1786/Kol/2016 For The Assessment Year 2012-13. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration: - A) Whether On The Facts & In The Circumstances Of The Case, The Tribunal Has Misinterpreted Section 194C, More Particularly 194C (7) Of The Income Tax Act, 1961 Read With Rule 31A Of The Income

disallowance under Section 40(a)(ia) read with Section 194C of the Act.” 14. Even assuming that the assessee had not furnished

PRINCIPAL COMM OF INCOME TAX -4, KOLKATA vs. M/S LINDE INDIA LIMITED

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

disallowance made by the assessing officer under Section 40(a)(ia) of the Act only on the ground that the said amount was not debited to the profit and loss account by totally misreading the provisions laid down under Section 40(a)(ia) of the said Act. 13. On the issue regarding computation of long term capital gains

COMMISSIONER OF INCOME TAX (IT & TP) vs. M/S. DONGFANG ELECTRIC CORPORATION

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

14 then, the amount added or disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-section

M/S. V2 RETAIL LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-10, KOLKATA

The appeal is Allowed to

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

disallowed in the hands of the appellant- assessee on the ground of non-compliance of conditions of Section 43B. 14

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. BOTHRA SHIPPING SERVICES PVT LTD

In the result, the appeals are dismissed and the substantial

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

disallowed the deduction claimed under Section 80IA(4) of the Act. The assessee moved the Dispute Resolution Panel (DRP) contending that the assessing officer erred in not considering that the assessee had produced the Port certificate granted by the specified authority which certified that the infrastructural facility developed by the assessee is an integral part of the port

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. BOTHRA SHIPPING SERVICES PVT LTD

In the result, the appeals are dismissed and the substantial

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

disallowed the deduction claimed under Section 80IA(4) of the Act. The assessee moved the Dispute Resolution Panel (DRP) contending that the assessing officer erred in not considering that the assessee had produced the Port certificate granted by the specified authority which certified that the infrastructural facility developed by the assessee is an integral part of the port

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

section 32 of the Act. Thus, the tribunal concluded that the action of the Assessing Officer in disallowing the claim is based on the premise that the assessee has made a double claim which was found to be factually incorrect by the tribunal. Accordingly, the disallowance was directed to be deleted. ITAT 230 of 2017 Page 10 of 14

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

disallowance under section 14A was not correct and it will be in those cases where the assessee in his return has himself apportioned but the Assessing Officer was not accepting the said apportionment. In any event, the Assessing Officer will have to record its satisfaction to the said effect. . . . . . . . . . We also take note of the decision of this Court

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

disallowance under section 14A was not correct and it will be in those cases where the assessee in his return has himself apportioned but the Assessing Officer was not accepting the said apportionment. In any event, the Assessing Officer will have to record its satisfaction to the said effect. . . . . . . . . . We also take note of the decision of this Court

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

disallowance under section 14A was not correct and it will be in those cases where the assessee in his return has himself apportioned but the Assessing Officer was not accepting the said apportionment. In any event, the Assessing Officer will have to record its satisfaction to the said effect. . . . . . . . . . We also take note of the decision of this Court

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

disallowance under section 14A was not correct and it will be in those cases where the assessee in his return has himself apportioned but the Assessing Officer was not accepting the said apportionment. In any event, the Assessing Officer will have to record its satisfaction to the said effect. . . . . . . . . . We also take note of the decision of this Court

PRINCIPAL COMMISSIONER OF INCOME TAX-14, KOLKATA vs. PKS HOLDINGS

In the result, the appeal is partly allowed and the question nos

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

14, KOLKATA Vs M/S. PKS HOLDINGS BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM A N D THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : 3rd August, 2022. Appearance: Mr. Tilak Mitra, Adv. ...for the appellant. Mr. Ranjeet Kumar Murarka, Sr. Adv. Mr. Vivek Murarka, Adv. Mr. Dibanath Dey, Adv. ...for the respondent. The Court:- This appeal filed by the revenue under

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

section 11(1)(a) on administrative and establishment expenses of Rs.3,54,12,977/-. On this issue, the department has accepted the decision of Hon’ble Calcutta High Court in the case of Birla Janahit Trust reported in 208 ITR 372? (iv) Whether disallowance of set off of earlier years of losses of Rs.6,04,16,031/- The Income

COMMISSIONER OF INCOME TAX, KOLKATA-II, KOLKATA vs. M/S. KESORAM IDUSTRIES LIMITED

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 6Th May 2024. Appearance: Mr. Soumen Bhattacharjee, Advocate Mr. Ankan Das, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Ms. Nilanjana Banerjee Pal, Advocate. … For The Respondent. 1. Heard Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sm. Nilanjana Banerjee Pal, Learned Counsel For The Respondent Assessee. 2. This Appeal Was Admitted By This Court By Order Dated 31St July 2013 On The Following Substantial Question Of Law:- “Whether On Facts & In The Circumstances Of The Case, The Learned Income Tax Appellate Tribunal Erred In Law In Setting Aside The Order Under Section 147 Of The Income Tax, 1961?”

disallowed the claimed revenue expenditure of Rs.28,89,56,652/- towards interest paid and accordingly did not add Rs.2,89,68,884/- in the income of the assessee. These facts are very much evident from paragraph 8 and the computation part of the original assessment order dated 27.03.2000. CIT(A) did not consider the jurisdictional issue of initiation of proceedings

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. RUSSEL CREDIT LIMITED

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

disallowable capital loss. He set aside the order. Thereafter, the assessee appealed to the ITAT "B" Bench, Kolkata, which, by order dated October 23, 2024, upheld the AO's view in line with the CBDT Instruction dated May 2, 2016. Being aggrieved by the order, the revenue preferred the present appeals under Section 260A. 4. Learned counsel appearing

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

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

disallowance on depreciation and thus the net profit came to 5 Rs.77,41,629/-. The loss carried forward by the assessee from previous year was Rs.2,88,71,747/- and after adjusting the aforesaid net profit, the loss carried forward for the next year was Rs.2,11,30,118/-. In the admitted facts of the case, the respondent assessee

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. AAYUSH 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 commission of Rs. 14,118/- purportedly incurred by the assessee towards payment to brokers who allegedly entered into the share transactions at the behest of the assessee overlooking the fact that the entire transaction were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL -1, KOLKATA vs. SURAJ SAHANA

In the result, these appeals are allowed and the substantial

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

disallowance of commission of Rs. 14,118/- purportedly incurred by the assessee towards payment to brokers who allegedly entered into the share transactions at the behest of the assessee overlooking the fact that the entire transaction were stage managed with the object to facilitate the assessee to plough back its unaccounted income in the form of fictitious Long Term Capital