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

15 April, 1989, and until the expiry of the period aforesaid, no notice has been issued to him under clause (i) of sub-section (1) of section 142 Commissioner or section 148 and the Assessing Officer or the Commissioner (Appeals) is satisfied that in respect of such assessment year such person has taxable income, then, such person shall

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

section 14A of the Income-tax Act for investments made in tax- free bonds/securities which yield tax-free dividend and interest to the assessee-banks in those situations where, interest-free own funds available with the assessee, exceeded their investments. With this conclusion, we unhesitatingly agree with the view taken by the learned Income-tax Appellate Tribunal favouring 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

section 14A of the Income-tax Act for investments made in tax- free bonds/securities which yield tax-free dividend and interest to the assessee-banks in those situations where, interest-free own funds available with the assessee, exceeded their investments. With this conclusion, we unhesitatingly agree with the view taken by the learned Income-tax Appellate Tribunal favouring 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

section 14A of the Income-tax Act for investments made in tax- free bonds/securities which yield tax-free dividend and interest to the assessee-banks in those situations where, interest-free own funds available with the assessee, exceeded their investments. With this conclusion, we unhesitatingly agree with the view taken by the learned Income-tax Appellate Tribunal favouring 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

section 14A of the Income-tax Act for investments made in tax- free bonds/securities which yield tax-free dividend and interest to the assessee-banks in those situations where, interest-free own funds available with the assessee, exceeded their investments. With this conclusion, we unhesitatingly agree with the view taken by the learned Income-tax Appellate Tribunal favouring the assessee

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

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

disallowance of Rs.9,75,16,996/- invoking the provisions of Section 43B of the Act, 1961 cannot be sustained and consequently, the impugned order to that extent deserves to be set aside. 15

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 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

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

Section 142(1) of the Act. In response to such notices, the assessee’s authorised representative appeared before the Assessing Officer. With regard to the first issue, namely, the loss on derivative, the assessee claimed the loss arising from future option, loss on transaction entered on National Stock Exchange (NSE) as appeared in Form 10DB. As per the content

PRINCIPAL COMMISSIONER OF INCOME TAX 1,KOLKATA vs. NISSIN ABC LOGISTICS P LTD

Accordingly, the appeal fails and dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Dated : November 15, 2022. Appearance: Mr. Tilak Mitra, Adv. …For Appellant Mr. J. P. Khaitan, Sr. Adv. Mr. A. Gupta, Adv. Mr. I. Banerjee, Adv. …For Respondent Ga/1/2022 The Court :- We Have Heard Mr. Tilak Mitra, Learned Standing Counsel For The Appellant & Mr. J. P. Khaitan, Learned Senior Counsel For The Respondent. There Is A Delay Of 210 Days In Filing This Appeal. We Have Perused The Affidavit Filed In Support Of The Petition & Found Sufficient Cause Has Been Shown For Condonation Of Delay. Accordingly, The Application Is Allowed & The Delay In Filing The Appeal Is Condoned.

15, 2022. Appearance: Mr. Tilak Mitra, Adv. …for appellant Mr. J. P. Khaitan, Sr. Adv. Mr. A. Gupta, Adv. Mr. I. Banerjee, Adv. …for respondent GA/1/2022 The Court :- We have heard Mr. Tilak Mitra, learned standing Counsel for the appellant and Mr. J. P. Khaitan, learned Senior Counsel for the respondent. There is a delay of 210 days in filing

PRINCIPAL COMMISSIONER OF INCOME TAX-I, KOLKATA vs. KOLKATA ASSAM ROADLINES PVT. LTD.

Bench: : The Hon’Ble Justice T.S. Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Date: November 30, 2021. Appearance : Mr. S. Roy Chowdhury, Adv. … For The Appellant The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act, In Brevity) Is Directed Against The Order Dated 5Th April, 2017 Passed By The Income Tax Appellate Tribunal, Kolkata Bench “C”, Kolkata In

15-I before payment or credit of such charges. Consequently, the Assessing Officer by order dated 26th March, 2013 held that the assessee had violated the provision of section 40[a][ia] of the Act in respect of lorry hire charges and the same was disallowed

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-4, KOLKATA vs. EVEREADY INDUSTRIES INDIA LIMITED

In the result, the appeal (ITAT/96/2017) fails and stands

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

Section 43B of the Act on account of provisions for leave encashment written back. The tribunal had re-appreciated the factual position and examined the consistent practice followed by the assessee in obtaining valuation report for ascertaining the incremental leave encashment liability and after taking note of the entire facts, came to the conclusion that the final statements drawn

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

15,00,000/- for the A.Y. 2003-04, Rs. 25,00,000/- for the A.Y. 2004-05 and Rs. 11,58,000/- for the A.Y. 2005-06 respectively on account of ‘Guest House Expenses’? e) Whether on the facts and circumstances of the case and in law, the Learned Income Tax Appellate Tribunal, “C” Bench, was justified in reversing

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:

section 4(1)”. Secondly, it must be “computed in the manner laid down in the Act.” If either of these conditions fails, the income will not be a part of the total income that can be brought to charge.” The Supreme Court held that if the capital was not chargeable to tax during the period between

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S SURENDRA STEELS PVT LTD

In the result, the appeal fails and the substantial question of law is

Bench: : The Hon’Ble Acting Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 3Rd April, 2023 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Subash Agarwal, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 20Th May, 2022 Passed By The Income Tax Appellate Tribunal, `B’ Bench, Kolkata In Ita No.78/Kol./2022 For The Assessment Year 2019-20. The Revenue Has Raised The Following Substantial Question Of Law For Consideration : - “Whether The Learned Income Tax Appellate Tribunal Has Committed Substantial Error In Law In Deleting The Addition Made On Account Of Disallowance Of Deduction Under Section 80-Ic Of The Act ? ”

15 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/23/2023 IA NO. GA/2/2023 PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL 1, KOLKATA VS. M/S. SURENDRA STEELS PVT. LTD. BEFORE : THE HON’BLE ACTING CHIEF JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : 3rd April, 2023 Appearance : Mr. Soumen Bhattacharjee, Adv. ….for appellant Mr. Subash