DEYS MEDICAL (U.P.) PRIVATE LIMITED vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 2 KOLKATA

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

16. The revenue submits that due to the absence of tax deduction at source by the appellant, the disallowance of these payments under Section

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

16. Section 29 of the Act provides that the income chargeable to income tax under the head profits and gains of business and profession shall be computed in accordance with the provisions contained in Sections 30 to 43 B of the Act. Page 8 of 13 17. Section 40 starts with a non obstante clause. It provides that certain amounts

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

Section 43B of the Act, 1961. Therefore, the disallowance of Rs.9,75,16,996/- invoking the provisions of Section 43B of the Act, 1961 cannot

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

16 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE IA NO.GA/2/2018 (Old No.GA/3402/2018) ITAT/308/2018 PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA -Versus- M/S. RELIANCE CHEMOTEX INDUSTRIES LTD. Appearance : Mr. P.K. Bhowmik, for the appellant. Mr. J.P. Khaitan, Sr. Adv., Mr. Akhilesh Kumar Gupta, Adv., Mr. Asim Chatterjee, Adv., Mr. Soham

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

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-section, be deemed to represent the income in respect of which particulars have been concealed. Explanation 2.- Where the source of any receipt, deposit, outgoing or investment in any assessment year is claimed by any person

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 COMMISSIONER OF INCOME TAX 2, KOLKATA vs. M/S KESORAM INDUSTRIES LTD

In the result, the appeal is dismissed and it is held that substantial

Bench: :

section 68 of the Income Tax Act, 1961, stating that the said ground was not relevant to the order of the lower authorities ? We have heard Mr. Prithu Dudhoria, learned standing counsel appearing for the appellant/revenue and Mr. J.P. Khaitan, learned Senior Advocate for the respondent/assessee. It is pointed out by the learned Senior Counsel appearing for the respondent/assessee that

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 2 KOLKATA vs. RAM RATAN MODI

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

disallowed the interest expenditure to the tune of Rs. 67.65 crores on the ITAT NO. 157 OF 2022 REPORTABLE Page 13 of 16 reason that amount of Rs. 89.02 crores was utilized for non- business purpose and we note that for these precise reasons that no substantial addition was made in the hands of the assessee because the entire money

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

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

16,38,000/- for the A.Y. 2003-04, Rs. 67,03,000/- for the A.Y. 2004-05 and Rs. 1,38,23,000/- for the A.Y. 2005-06 respectively on account of ‘Environmental Expenditure’? g) 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, KOL-3, KOLKATA vs. SIKARIA INFRAPROJECTS PVT. LTD.

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

16,21,174/-. iv) On account of no reply received from eleven parties pursuant to notices under Section 133(6) of the Act, 1961: Rs.4,89,43,299/-. 4 iv) Penalty amount not disallowed

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:

16. In our view, in cases where rule 8 applies, the income which is brought to tax as “business income” is only 40 per cent of the composite income and consequently proportionate depreciation is required to be taken into account because that is the depreciation “actually allowed.” Hence we find no merit in the civil appeals filed by the Department

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. BALMER LAWRIE AND CO LTD

In the result, the appeal filed by the revenue is dismissed on the ground

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

Section 115JB of the Act. The CIT(A) after considering the above factual details pointed out that the assessee case revolves around the fact that out of its loan of Rs. 13.00 crores advanced for the purpose of its business, Rs. 11.82 crores had turned bad and though investment was initially propelled by business expediency and was subsequently thrust