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 u/s. 194A of the Act and/or whether the exclusive provisions mentioned in clause (v) of sec. 194A(3) of the Act are applicable to the Cooperative Bank when interest is paid to a co-operative society which is also a member of the State Cooperative Bank. It is stated that both the lower authorities misunderstood the provisions of section

DARJEELING DISTRICT CENTRAL CO-OP. BANK LTD. ,DARJEELING vs. ACIT, CIR-3(1),SILIGURI. , SILIGURI

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

TDS u/s. 194A of the Act and/or whether the exclusive provisions mentioned in clause (v) of sec. 194A(3) of the Act are applicable to the Cooperative Bank when interest is paid to a co-operative society which is also a member of the State Cooperative Bank. It is stated that both the lower authorities misunderstood the provisions of section

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

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)\nissued seeking details of unsecured loan raised during the financial\nyear 2010-11, indicating the name(s), complete postal address and\nPAN(s) of the loan creditors, the assessee furnished the loan\nconfirmation and produced

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

3 is also dismissed. 5.10. Ground no.4:- The ground no. 4 is relates calculating the interest for default period and credit of TDS already paid. Interest levy u/s 201(1 A) is mandatory and to be calculated in following manner:- (1) Interest for failure to deduct tax at source/delay in payment of TDS As per section 201, if any person

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

3 is also dismissed. 5.10. Ground no.4:- The ground no. 4 is relates calculating the interest for default period and credit of TDS already paid. Interest levy u/s 201(1 A) is mandatory and to be calculated in following manner:- (1) Interest for failure to deduct tax at source/delay in payment of TDS As per section 201, if any person

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

section 194A of the Act are applicable only in respect of interest on term deposits and not in respect of demand deposits. The Learned AO did not agree with this proposition and sought to disallow the interest on matured term deposits to the tune of Rs. 21,66,00,000/- for violation of TDS provisions and made disallowance

ACIT, CIRCLE-41, NADIA, NADIA vs. M/S SAKTINAGAR SAMABAY KRISHI UNNYAN SAMITY LTD., NADIA

In the result, the appeal of the revenue is dismissed

3) of Section 194A which provided that TDS need not be deducted if payment by a co-operative society is made

ITO, WD-8(1), KOLKATA, KOLKATA vs. M/S BATRAM PROPERTIES PVT. LTD., KOLKATA

In the result the appeal by the revenue is treated as allowed for statistical purposes

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr. Arjun Lal Saini, Am] I.T.A No.983/Kol/2016 Assessment Year : 2009-10 I.T.O., Ward-8(1) -Vs.- M/S. Batram Properties Pvt. Ltd. Kolkata Kolkata [Pan : Aaccb 0291 R] (Respondent) (Appellant) For The Appellant : Shri Soumyajit Dasgupta, Addl.Cit For The Respondent : Shri Soumitra Choudhury, Advocate Date Of Hearing : 28.11.2017. Date Of Pronouncement : 01.12.2017. Order Per N.V.Vasudevan, Jm

section 194A(3)(iii) of the Act covers only cases where the only business of an assessee is business of insurance. It was his submission that the assessee was a non banking finance company and business of financing was its primary business. It was further submitted by him that the purpose of allowing exemption from TDS

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

3 To individuals who submitted their 9,58,708 Nil 15G 4. to an individual (non-taxable) 4,511 Nil 19,86,233 1,82,797 The assessee also submitted that the parties (individual) who have field Form 15G were not subject to TDS under section 194A

M/S KHALSA BROTHERS,DURGAPUR vs. ACIT, CIR-2, DURGAPUR, DURGAPUR

In the result, the appeal filed by the assessee (in Ground No

3. However, in this appeal, the assessee has raised six grounds of appeals, but at the time of hearing, the main grievance of the assessee has been confined to ground Nos.4, 5 and 6 only and other grounds were not pressed. 4. Ground No.4 raised by the assessee relates to addition of Rs.54

ACIT, CIRCLE - 3, ASANSOL, ASANSOL vs. M/S. SANJAY TRANSPORT AGENCY, BURDWAN

In the result, the appeal of revenue is partly allowed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

TDS. This view of ours is fortified by the decision of Coordinate Bench of Mumbai Tribunal in the case of Vipin P.Mehta in ITA No.3317/M/2010 dated 20th May, 2011, wherein it is held as under: “6.We have carefully considered the facts and the rival contentions. Section 194A provides for deduction of tax from the interest paid by the assessee

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) Any person, not being an individual or a Hindu undivided family, who is responsible for paying17 to a resident any income

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’).

3 SCR 235 at 251, it is observed (at page 1059 of AIR 1962 SC): The division of law into two broad categories of substantive law and procedural law is well-known. Broadly stated, whereas substantive law defines and provides for rights, duties and liabilities, it is the function of the procedural law to deal with the application of substantive

ITO, WD-1(3), KOLKATA, KOLKATA vs. THE INSTITUTE OF INDIAN FOUNDRYMEN, KOLKATA

In the result, the appeal filed by the Revenue, is dismissed

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Ito(E), Wd-1(3), Kolkata Vs. The Institute Of Indian Foundrymen 6Th Floor, 10B, Middleton Row, Kolkata Iif Center, 335, Rajdanga Main – 700 071. Road, East Kolkata Township, P.O. Kolkata – 700 107. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatt 6606 M (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

section required to be credited on accrual basis. 3. That on the facts and circumstances of the case, the CIT(A) has erred in allowing relief to the assessee ignoring the fact that TDS of Rs.4,94,685/- was claimed in the return of income while the income on such TDS was not credited in the I/E accounts as required

AXIX OVERSEAS LTD,KOLKATA vs. ITO, WARD - 7(1), KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

3 Interest on car loan Rs. 80,558 4 Interest on TDS Rs. 6,315 5 Interest on term loan (SBI) Rs. 13,15,661 6 Interest on CC a/c Rs. 56,06,714 7 Interest on LC Rs. 81,77,928 Total Rs.1,71,36,916 The assessee, during the course of assessment proceedings, submitted that unsecured loan

I.T.O WD - 6(2),KOLKATA., KOLKATA vs. M/S AXIX OVERSEAS LTD, KOLKATA

In the result, Revenue’s appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

3 Interest on car loan Rs. 80,558 4 Interest on TDS Rs. 6,315 5 Interest on term loan (SBI) Rs. 13,15,661 6 Interest on CC a/c Rs. 56,06,714 7 Interest on LC Rs. 81,77,928 Total Rs.1,71,36,916 The assessee, during the course of assessment proceedings, submitted that unsecured loan

ACIT, CIRCLE - 25, KOLKATA , KOLKATA vs. SMT. CHAMPA NANDI, KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle-25, Kolkata Vs. Smt. Champa Nandi 1St Floor, Aayakar Bhawan Dakshin, 2, Flat No.Ud-0606, Udita Gariahat Road (South), Kolkata – 700 068. Complex, 1050/1, Survey Park, E.M. Byepass, Kolkata – 700 075. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abqpn 6470 L (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

section 194A is not attracted and as such no TDS had been deducted. However, the assessing officer rejected the contention of the assessee and noted that since the assessee had not submitted any documentary evidence or legal/judicial explanation in support of above set of arguments of the assessee which claims that 3

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

194A does not distinguish between the payment of interest or the reimbursement of interest and it clearly provides that any interest amount is paid the TDS has to be deducted on such interest expenses. The CIT(A) by placing reliance in the case of Grand Prix Fab Pvt. Ltd. reported in 128 TTJ 60 (Delhi) and in the case