DARJEELING DISTRICT CENTRAL CO.OP. BANK LTD. ,DARJEELING vs. ACIT(OSD)(TDS)WD-5(3), DARJEELING, , DARJEELING.

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

TDS), Ward-5(3), Darjeeling on 16-03-2018 u/s.201(1)/201(1A) of the Income Tax Act, 1961 demanding Rs.26,24,748/- for non deduction of tax at source under section 194A

M/S. HOOGHLY DISTRICT CENTRAL CO-OPERATIVE BANK LTD.,HOOGHLY vs. D.C.I.T., CIRCLE - 23(), HOOGHLY, HOOGHLY

In the result, all the appeals of the assessee are allowed for statistical purposes

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

section 201(1) of the I. T Act, interest shall be payable from the date on which such tax was deductible to the date of furnishing of return of income by such payee. Assessment Years : 2016-2017 to 2018-2019 M/s. Hooghly District Central Cooperative Bank Limited Interest in such a case will be levied at 1% for every month

M/S. HOOGHLY DISTRICT CENTRAL CO-OPERATIVE BANK LTD.,HOOGHLY vs. D.C.I.T., CIRCLE - 23(), HOOGHLY, HOOGHLY

In the result, all the appeals of the assessee are allowed for statistical purposes

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

section 201(1) of the I. T Act, interest shall be payable from the date on which such tax was deductible to the date of furnishing of return of income by such payee. Assessment Years : 2016-2017 to 2018-2019 M/s. Hooghly District Central Cooperative Bank Limited Interest in such a case will be levied at 1% for every month

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]

1,28,350/- and Sanskriti Sarees Rs. 76,250/-. However, the TDS on the above payments were made at the rate of 2% u/s 194C whereas as a matter of fact, 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

MAITHAN CERAMIC LTD.,,KOLKATA vs. ACIT, CIRCLE 7(1),, KOLKATA

In the result, appeal of the assessee is dismissed

TDS of 274,795/-\nwas duly deducted under Section 194A of the Act. (Page-90)\nDuring the course of the assessment proceedings, notice/s 142(1

ITO, WD-41(2), KOLKATA, KOLKATA vs. SHRI SAJJAN KUMAR SHARMA, KOLKATA

In the result, the appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm ] I.T.A No.687/Kol/2014 Assessment Year : 2007-08

194A of the act, and where such tax has not been deducted or after deducted has not been paid; (A) in a case where the tax was deductible and was so deducted during the last month of the previous year, on or before the due date specified in sub-section (1) of section 139 ; or (B) in any other case

M/S INDUSTRIAL PERFORATION INDIA (P) LTD,KOLKATA vs. I.T.O. WD - 5(4),KOLKATA, KOLKATA

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

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

TDS and also has failed to produce the persons to whom these payments were made, therefore the expenses on account of bill discounting and serves charges amounting to Rs.1,45,654/- is disallowed. The addition made by the Assessing Officer is upheld and this ground of appeal is dismissed. 16. Before us, the ld.AR contended that the section 194H

UNITED BANK OF INDIA,KOLKATA vs. D.C.I.T CIR- 6,KOLKATA, KOLKATA

In the result, the appeal of the revenue in ITA No

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

TDS on the subject mentioned expenditure to the satisfaction of the Learned AO. Accordingly, the ground no. 3 raised by the assessee is allowed for statistical purposes. 5. The next issue to be decided in this appeal is whether disallowance u/s 14A of the Act to the tune of Rs. 1,21,00,000/- could be added to the book

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S CHAMPION COMMERCIAL CO. LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Dcit, Circle-10(1), V/S. M/S Champion P-7, Chowringhee Commercial Co. Ltd., Square, 3Rd Floor, P-15, Cit Road, Kolkata-69 Kolkata-73 [Pan No.Aabcc 2373 G] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Saurabh Kumar, Addl. Cit-Sr-Dr अपीलाथ" क" ओर से/By Appellant Shri Manoj Kataruka, Advocate ""यथ" क" ओर से/By Respondent 26-02-2018 सुनवाई क" तार"ख/Date Of Hearing 27-04-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-4, Kolkata Dated 04.04.2016. Assessment Was Framed By Dcit, Circle-10(1), Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 10.02.2016 For Assessment Year 2013-14. The Revenue Has Raised The Following Grounds:- “I. That On The Facts Of The Case Ld. Cit(A) Has Erred In Deleting The Addition Of Rs.2,50,938/- On A Wrong Appreciation Of Facts Ignoring The Provisions Of Section 37(1) Overrule The Judicial Pronouncement Of Cit Vs. Calcutta Agency Limited (1951) (191) Itr (Sc) Ii. That On The Facts & Circumstances Of The Case Ld. Cit(A) Has Erred In Deleting The Addition Of Rs.13,91,404/- On A Wrong Appreciation Of Facts Ignoring The Provisions Of Section 37 Of The It Act, 1961. Iii. That On The Facts Of The Case Ld. Cit(A) Has Erred In Deleting The Addition Of Rs.20,25,329/- On Wrong Appreciation Of Facts Ignoring The

TDS on the interest payment made to banking company to which the Banking Regulation Act, 1949 applies. The relevant extract of provision of Section 194A is reproduced below:- 14[Interest other than "Interest on securities". 15194A. 16(1

SUBIR ENGINEERING WORKS PVT. LTD.,KOLKATA vs. ACIT, CIR-2, DURGAPUR, DURGAPUR

In the result, the appeal of assessee is partly allowed

Bench: The Ao That Post Dated Cheques For Short As Pdcs Were Issued Against Such Loan To The Said Finance Company & Therefore, The Assessee Was Not In A Position To Deduct Tax At Source On Interest Payments. This Explanation Of The Assessee Was Not Acceptable To Ao & As Such Added Said Amount 1 Of Rs.6,74,976/- To The Total Income Of Assessee For Violation Of Section 194A Of The Act By Invoking The Provisions U/Sec 40(A)(Ia) Of The Act.

TDS as per section 194A(1) of the Act and confirmed the disallowance made by the AO. 7. Before us the ld.AR

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

1) of the Act- provision for foreseeable loss made in accordance with guidelines of AS-7 and duly debited in audited accounts of company is an allowable expenditure. The Tribunal decided the case in favour of the assessee and held that 'yes' it is an allowable expenditure. The Tribunal while deciding this issue has also considered the decision of Mazagon

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

1) of the Act- provision for foreseeable loss made in accordance with guidelines of AS-7 and duly debited in audited accounts of company is an allowable expenditure. The Tribunal decided the case in favour of the assessee and held that 'yes' it is an allowable expenditure. The Tribunal while deciding this issue has also considered the decision of Mazagon

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

1) of the Act- provision for foreseeable loss made in accordance with guidelines of AS-7 and duly debited in audited accounts of company is an allowable expenditure. The Tribunal decided the case in favour of the assessee and held that 'yes' it is an allowable expenditure. The Tribunal while deciding this issue has also considered the decision of Mazagon

TURNER MORRISON LTD. ,KOLKATA vs. DCIT, CIR, KOL, KOLKATA

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2020-21

1-4-1989], respectively. 7.5 Part F concerns Interest chargeable in certain cases. Lastly, Part G provides for provisions for the levy of fees in certain cases. 8. As would be evident, Chapter XVII of the Act puts in place a legislative scheme for the collection of taxes by various modes, which includes direct levy [See Section 191], deduction

SANDERSONS & MORGANS,KOLKATA vs. ACIT, CIRCLE - 54, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2004-05 (Appellant ) (Respondent) Sandersans & Morgans -Versus- A.C.I.T., Circle-54, Kolkata Kolkata (Pan:Abbfs 4291 B) For The Appellant : Shri J.P.Khaitan & Shri S.Basu, Advocate For The Respondent : Shri D.Banerjee, Jcit Date Of Hearing : 21.09.2015. Date Of Pronouncement : 23.09.2015 Order Per Shri M.Balaganesh, Am 1. This Appeal Of The Revenue Arises Out Of The Order Of The Learned Cita In Appeal No. 85/Cit(A)-Xxxvii/Acit-54/08-09. Dated 18.03.2009 For The Asst Year 2004-05 Arising Out Of The Order Of The Learned Assessing Officer Framed U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

1) and sub-section (2) and also the assessment year for which such credit may be given.” For the sake of convenience, the said rule 37BA is reproduced hereunder:- Rule 37BA – Credit for tax deducted at source for the purposes of section 199 “(4) Credit for tax deducted at source and paid to the account of the Central Government shall

ITO, WD-58(1), KOLKATA, KOLKATA vs. M/S ITD-ITD CEM JV (CONSORTIUM OF ITD ITD CEMENTATION), KOLKATA

In the result, the appeal of the revenue is dismissed

1) of the Act. 12. The assessee challenged the same before the CIT(A). The assessee contended that the AO failed to appreciate the reimbursement of actual expenses made to the Co venture are not subjected to TDS and not covered by section from 194A

M/S TWENTY FIRST CENTURY SECURITIES LTD.,KOLKATA vs. THE ITO, WD-59(4) (TDS), KOLKATA, KOLKATA

In the result both the appeals are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

section 194A of the Act after deducting the tax at source @ 1% plus surcharge and education cess thereon. Similar certificate has been issued in the case of M/s. MKJ Enterprises Ltd.. It was contended by him that the aforesaid certificate is only with reference to the person by whom income is payable and mention of the quantum of income

SUBHAG MERCANTILE (P) LTD.,KOLKATA vs. ITO, TDS WD-59(3), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S. Viswanethra Raviassessment Year :2004-05

1,82,797 The assessee also submitted that the parties (individual) who have field Form 15G were not subject to TDS under section 194A