PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S BRITANNIA INDUSTRIES LTD

Accordingly, the appeal fails and is dismissed

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

disallowed. 5. According to the PCIT, the assessing officer failed to verify the above issues and therefore it was proposed to invoke Section 263 of the Act. 6. With regard to the first query, the assessee in their response dated 24.03.2021 stated that the allegation is factually incorrect. It was stated that the assessee has suo moto added back

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. HALDIA PETROCHEMICALS LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 13Th January, 2023 Appearance : Mr. Aryak Dutta, Adv. Mr. Amit Sharma, Adv. ..For Appellant Mr. Ajay Gaggar, Adv. Mr. Hiranyak Gangopadhyay, Adv. …For Respondent

section 148 of the Act as bad in law thereby deleting the addition made on the basis of disallowance of Rs.6,92,90

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

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

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 eleven

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

PRINCIPAL COMM OF INCOME TAX, CENTRAL 1, KOLKATA vs. M/S BINANI INDUSTRIES LIMITED

The appeal is dismissed on the ground that the book profit as

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 24Th August, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. Madhur Agarwal Adv. Mr. Pranit Bag, Adv. Mr. A.K. Dey, 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 Dated March 02, 2016, Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In I.T.A. No.144/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Question Of Law :- “Whether The Amount Of Rs.12,65,75,000/-, Received By The Assessee On Account Of Forfeiture Of Shares Would Be Added To The Book Profits Of The

90,47,340 Less : Relief allowed in appeal as per Para 12 Rs. 12,65,75,000 Revised net profit for the purpose of section 115JB Rs. 21,24,72,340 Less : Relief allowed as per Para 9 of the order Rs. 2,18,09,000 Rs. 19,06,63,340 Less : Dividend income

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL -1, KOLKATA vs. M/S BINANI INDUSTRIES LIMITED

The appeal is dismissed on the ground that the book profit as

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 24Th August, 2022 Appearance : Ms. Smita Das De, Adv. ….For Appellant Mr. Madhur Agarwal Adv. Mr. Pranit Bag, Adv. Mr. A.K. Dey, 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 Dated March 02, 2016, Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In I.T.A. No.144/Kol/2013 For The Assessment Year 2009-10. The Appeal Was Admitted On The Following Substantial Question Of Law :- “Whether The Amount Of Rs.12,65,75,000/-, Received By The Assessee On Account Of Forfeiture Of Shares Would Be Added To The Book Profits Of The

90,47,340 Less : Relief allowed in appeal as per Para 12 Rs. 12,65,75,000 Revised net profit for the purpose of section 115JB Rs. 21,24,72,340 Less : Relief allowed as per Para 9 of the order Rs. 2,18,09,000 Rs. 19,06,63,340 Less : Dividend income

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S COSMIC FERRO ALLOYS LTD

In the result, all the appeals of the assessee are allowed

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

90,000/- on the basis of the order of NCLT dated 16/01/2018 without appreciating the fact that distribution of assets on account of dues to the Income Tax Department are governed under Section 53(1)(i) of the Insolvency and Bankruptcy Code 2016. ii. Whether the Learned Tribunal has committed substantial error in law by deleting the addition on account

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S COSMIC FERRO ALLOYS LTD

In the result, all the appeals of the assessee are allowed

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

90,000/- on the basis of the order of NCLT dated 16/01/2018 without appreciating the fact that distribution of assets on account of dues to the Income Tax Department are governed under Section 53(1)(i) of the Insolvency and Bankruptcy Code 2016. ii. Whether the Learned Tribunal has committed substantial error in law by deleting the addition on account

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S COSMIC FERRO ALLOYS LTD

In the result, all the appeals of the assessee are allowed

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

90,000/- on the basis of the order of NCLT dated 16/01/2018 without appreciating the fact that distribution of assets on account of dues to the Income Tax Department are governed under Section 53(1)(i) of the Insolvency and Bankruptcy Code 2016. ii. Whether the Learned Tribunal has committed substantial error in law by deleting the addition on account

PRINCIPAL COMMISSIONER OF INCOME TAX, SILIGURI vs. PRAKASHO DEVI SARIA

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX-18, KOLKATA vs. SRI VIKASH GOEL

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX ,BURDWAN vs. BIJAYA TAH

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1, KOLKATA vs. KRISHNA KUMAR PARSURAMKA

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PR CIT 9, KOLKATA vs. MANISHA TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA vs. GITESH TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. POOJA JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. SHRI MAHENDRA KUMAR PERIWAL

In the result, these appeals are allowed and the substantial

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

Section 260 A of the Income Tax Act 1961 (the Act of brevity) are directed against the common order dated 26.06.2019 passed by the Income Tax Appellate Tribunal (Single Member Bench), Kolkata in a batch of 90 appeals. The respondents in these appeals are the assessees. The assessments were completed by the respective assessing officers by passing individual orders