DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

14A read with Rule 8D for the purpose of computation of Book Profit u/s. 115JB of the Act? 9. “Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred to decipher the intrinsic purpose of accounting standard 29. The Ld. CIT(A) has erred to recognize the provisions which cannot

ACIT, CIRCLE - 13(2), KOLKATA , KOLKATA vs. M/S. PADMA LOGISTICS & KHANIJ PRIVATE LIMITED , KOLKATA

In the result, the revenue’s appeal is partly allowed for statistical purposes

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

section 14A read with rule 8D(2)(iii), which is issue in the appellant’s appeal, is restored to the file of the AO for recomputation in line with the direction given above.” So, we set aside the order of the Ld. CIT(A) on this issue for the limited purpose of recomputing the disallowance as per Rule

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB of the Act?\n9. \"Whether on the facts and in the circumstances of the case and in law,\nthe Ld. CIT(A) has erred to decipher the intrinsic purpose of accounting\nstandard 29. The Ld. CIT(A) has erred to recognize the provisions which\ncannot

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB of the Act?\n9. “Whether on the facts and in the circumstances of the case and in law,\nthe Ld. CIT(A) has erred to decipher the intrinsic purpose of accounting\nstandard 29. The Ld. CIT(A) has erred to recognize the provisions which\ncannot

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB of the Act?\n9. “Whether on the facts and in the circumstances of the case and in law,\nthe Ld. CIT(A) has erred to decipher the intrinsic purpose of accounting\nstandard 29. The Ld. CIT(A) has erred to recognize the provisions which\ncannot

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Eih Ltd V/S. Dcit, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [Pan No.Aaace 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date Of Hearing 16-05-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Dispute Resolution Panel-2, (Drp For Short) Dated 17.10.2016. Assessment Was Framed By Dcit, Circle-8(1), Kolkata U/S 144C(13)/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.11.2016 For Assessment Year 2012-13 & Grounds Raised By Assessee Read As Under:- “1.0 Determination Of Arm'S Length Price For Corporate Guarantee Fees 1.1 On The Facts & In The Circumstances Of The Case & In Law, The Learned Transfer Pricing Officer (Hereinafter Referred To As "Ld, Tpo") & Accordingly Learned Assessing Officer (Hereinafter Referred To As "Ld. Ao") Erred In Treating The Corporate Guarantee Extended By The Appellant To Its Associated Enterprise (Ae) As International Transaction & Dispute Resolution Panel (Hereinafter Referred To As "Ld, Panel") Erred In Confirming The Same As An International Transaction Without Appreciating The Fact That It Does Not Fall Within The Ambit Of "International Transaction" U/S 92B Of The Act. 1.2 The Ld.Ao/Tpo & The Ld. Panel Failed To Appreciate The Fact That Corporate Guarantee Has Been Advanced By The Appellant As A Matter Of Commercial Prudence To Protect The Business Interest Of The Group By Fulfilling

14A of the Act read with Rule 8D of the Rules. Similarly, investments made in subsidiary companies would have to be reckoned as strategic investments and hence the same should be excluded while working out the disallowance under Rule 8D(2)(iii) of the Rules. Similarly, the investments which had yielded dividend income alone , are to be considered ITA No.117/Kol/2017

ALLAHABAD BANK,KOLKATA vs. ADD.CIT,RANGE-6, KOLKATA, KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

1,57,227 in respect of indirect expenses attributed to the earning of dividends, and it has even the case of revenue that this disallowance for indirect expenses is unfair or unreasonable. 10. In view of the above discussions, while uphold the conclusions arrived at by the learned CIT(A), we also make it clear that, in our humble understanding

EIH LTD.,KOLKATA vs. THE DCIT, CIR-8(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

1) of Section 14A of the Act have been satisfied. 3.3 On the facts and circumstances of the case and in law, the ld. Panel erred in confirming disallowance of Rs. 2,20,81,366/- u/s 14A made by the Ld. AO based on surmise and conjecture without having recorded any reasoned satisfaction under section 14A

DCIT, CIR-8(1), KOLKATA, KOLKATA vs. M/S EIH LTD., KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

1) of Section 14A of the Act have been satisfied. 3.3 On the facts and circumstances of the case and in law, the ld. Panel erred in confirming disallowance of Rs. 2,20,81,366/- u/s 14A made by the Ld. AO based on surmise and conjecture without having recorded any reasoned satisfaction under section 14A

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

14A of the Act for\nthe purpose of computation of MAT is upheld as Hon'ble Supreme Court\nhave held in the case of Apollo Tyres (supra) that section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

TDS provisions, the assessee could be declared to be an assessee in default under section 201, but no disallowance could be made by invoking the provisions of section 40(a)(ia). 4. We have heard the arguments of both the sides and also perused the relevant material available on record. Although the ld. D.R. has relied on the decision

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

TDS provisions, the assessee could be declared to be an assessee in default under section 201, but no disallowance could be made by invoking the provisions of section 40(a)(ia). 4. We have heard the arguments of both the sides and also perused the relevant material available on record. Although the ld. D.R. has relied on the decision

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

TDS should have been deducted at the rate of 10% u/s 194A of the Act. Finally, the AO disallowed 30% of the above interest payment being disallowance u/s 40a(ia) of the Act. In our opinion the provisions of Section 40a(ia) cannot be invoked where there is a short deduction of tax at source but in a case, where

M/S CAPITAL TOURS(INDIA) PVT. LTD ,KOLKATA vs. ITO, WARD-12(1), KOLKATA

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.507/Kol/2020 Assessment Year: 2015-16 M/S Capital Tours (India) Pvt. Ltd..............................………...…..…Appellant 1, J Embassy Building, 4, Shakepeare Sarani, Kolkata- 700 071. [Pan: Aabcc2821K] Vs. Ito, Ward-12(1), Kolkata......................................................…..…..Respondent Appearances By: Shri Miraj D Shah, Ar, Appeared On Behalf Of The Appellant. Shri P. P Barman, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 17, 2023 Date Of Pronouncing The Order : March 16, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 07.06.2019 Of The Commissioner Of Income Tax (Appeals)-17, Kolkata [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That The Order Passed By The Ld. Cit (Appeals)-17, Kolkata U/S 250 Confirming The Additions & Disallowances Made By Learned Assessing Officer Is Wrong In The Law & Facts Of The Case. 2. That The Ld. Cit (Appeals) - 17, Kolkata Erred In Law As Well As On Facts Of The Case By Confirming The Disallowance Of Employee'S Contribution For

TDS instead of 30% as specified in Sec 40(a)(ia) of the Income tax Act, 1961. 7. That the Ld. CIT (Appeals) 17, Kolkata erred in law as well as on facts of the case by confirming the disallowance on estimate basis being 50% of Misc. Expenses of Rs.3,77,039/- amounting to Rs. 1,88,520/- and addition

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. RUNGTA MINES LTD., KOLKATA

In the result, the appeal of revenue is partly allowed for statistical purposes

section 37(1) is not attracted. In view of the above, it is to be held that the disallowance of Rs.6,55,30,392/- as made by the AO in the impugned order is not sustainable in law therefore on the facts of the case the addition of Rs.6,55,30,392/- is deleted.” 3 I.T.A No.1531/Kol/2017 M/s. Rngta Mines

ORIENT PAPER & INDUSTRIES LIMITED,KOLKATA vs. J.C.I.T RANGE - 6,KOLKATA, KOLKATA

In the result, the appeal in ITA 430/Kol/2013 of assessee is partly allowed and appeal in ITA 648/Kol/2013 of the revenue is dismissed

Bench: : Shri P.M.Jagtap & Shri S.S. Viswanethra Ravi

14A of the Act read with Rule 8D. Ground No. 1 is accordingly allowed.” M/s. Orient Paper & Industries Limited 6. Heard rival submissions and perused the relevant material on record. We find that the issue on hand is covered by the order of Kolkata Tribunal supra and following the same, we confirm the order of CIT-A and delete