D.C.I.T.,CIRCLE-2(2), KOLKATA vs. M/S SHALIMAR WIRES INDUSTRIES LTD., KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2013-14

36. Let us sum up our discussions on this part of the scheme of Section 9, so far as tax implications on commission agency business carried out by non-residents for Indian principals is concerned. It does not need much of a cerebral exercise to find out whether the income ITA No.1354/Kol/2019 A.Y. 2013-14 DCIT

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. ITO (INTERNATIONAL TAXATION) WARD, KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

TDS-3 Vs M/s Bajaj Hindusthan Ltd [ ITA No. 63/Mum/09]. I however find the submissions of the ld. AR to be untenable in the context of the amendments brought in Section 9(1)(vii) by the Legislature in the Finance Act, 2010. 5. The Explanation to Section 9(2) was inserted by the Legislature which clarified that irrespective whether services

ACIT, CIRCLE - 25, KOLKATA, KOLKATA vs. SRI SUBHATOSH MAJUMDER, KOLKATA

In the result, the appeal of the Revenue is allowed for statistical purpose

Bench: Shri A.T. Varkery, Jm & Dr. Arjun Lal Saini, Am ]

TDS and consequently, the deletion of disallowance by CIT(A) is confirmed. This common issue of all the three appeals of revenue is dismissed.” 14. From the foregoing findings of the Tribunal, it is quite evident that the Tribunal had upheld the assessee’s claim for non-deduction of tax at source having regard to the pre- amended provisions

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

36. Let us sum up our discussions on this part of the scheme of Section 9, so far as tax implications on commission agency business carried out by non-residents for Indian principals is concerned. It does not need much of a cerebral exercise to find out whether the income from the business carried on by a non-resident assessee

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

36. Let us sum up our discussions on this part of the scheme of Section 9, so far as tax implications on commission agency business carried out by non-residents for Indian principals is concerned. It does not need much of a cerebral exercise to find out whether the income from the business carried on by a non-resident assessee

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2, JALPAIGURI, JALPAIGURI

vii) of sub-section (1) of section 9;\n(iii) “professional services” shall have the same mean-ing as in clause (a) of\nthe Explanation to section 194J;\n(iv) “work” shall have the same meaning as in Explanation III* to section\n194C;\n[(v) “rent” shall have the same meaning as in clause (i) to the Explanation\nto section

ACIT, CIRCLE - 52, KOLKATA, KOLKATA vs. SHRI SUBHOTOSH MAJUMDAR, KOLKATA

In the result, the appeals of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

1)(vii)(b) of the Act and therefore assessee had obligation to deduct TDS u/s. 195 of the Act. According to AO, failure to do so had attracted provisions of section 40(a)(i) of the Act. Accordingly, the payments made to non-residents amounting to Rs.5,38,36

ACIT, CIRCLE - 52, KOLKATA, KOLKATA vs. SHRI SUBHOTOSH MAJUMDER, KOLKATA

In the result, the appeals of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

1)(vii)(b) of the Act and therefore assessee had obligation to deduct TDS u/s. 195 of the Act. According to AO, failure to do so had attracted provisions of section 40(a)(i) of the Act. Accordingly, the payments made to non-residents amounting to Rs.5,38,36

DCIT,CIRCLE-52, KOLKATA, KOLKATA vs. SRI SUBHOTOSH MAJUMDER . S. JAMUMBDER &CO,, KOLKATA

In the result, the appeals of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

1)(vii)(b) of the Act and therefore assessee had obligation to deduct TDS u/s. 195 of the Act. According to AO, failure to do so had attracted provisions of section 40(a)(i) of the Act. Accordingly, the payments made to non-residents amounting to Rs.5,38,36

VANTAGE ADVERTISING PRIVATE LIMITED,CHENNAI vs. DCIT, CIR-12(2), KOLKATA, KOLKATA

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

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am]

36.(1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (i) to (vi) xxxx xxxx xxxx (vii) subject to the provisions of sub-section (2), the amount of any bad debt or part thereof which is written off as irrecoverable

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. D,C,I.T., CIRCLE - 2, JALPAIGURI, JALPAIGURI

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

vii) of sub-section (1) of section 9; (iii) “professional services” shall have the same mean­ing as in clause (a) of the Explanation to section 194J; (iv) “work” shall have the same meaning as in Explanation III* to section 194C; [(v) “rent” shall have the same meaning as in clause (i) to the Explanation to section 194-I; (vi) “royalty

THE ROYAL BANK OF SCOTLAND N.V.,KOLKATA vs. DCIT, (IT) - 2(1), KOLKATA, KOLKATA

Accordingly, the Ground Nos. (iv) to (vi) raised by the revenue are dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 503/Kol/2016 Assessment Year : 2011-12 Dcit (It), Circle-2(1), Kolkata -Vs- M/S Royal Bank Of Scotland N.V. [Pan: Aacca 6818 K] (Appellant) (Respondent) I.T.A No. 505/Kol/2016 Assessment Year : 2011-12 M/S Royal Bank Of Scotland N.V. -Vs- Dcit (It), Circle-2(1), Kolkata [Pan: Aacca 6818 K] (Appellant) (Respondent)

vii)(b) OF THE ACT Ground No. (ii) of Revenue Appeal The brief facts of this issue are that the assessee claimed provision for bad and doubtful debts u/s 36(1)(viia)(b) of the Act before setting off the brought forward losses. During the year under consideration, the bank has claimed deduction of provision for bad and doubtful debts

DCIT, CIR-2(1), KOLKATA, KOLKATA vs. M/S ROYAL BANK OF SCOTLAND N.V., KOLKATA

Accordingly, the Ground Nos. (iv) to (vi) raised by the revenue are dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 503/Kol/2016 Assessment Year : 2011-12 Dcit (It), Circle-2(1), Kolkata -Vs- M/S Royal Bank Of Scotland N.V. [Pan: Aacca 6818 K] (Appellant) (Respondent) I.T.A No. 505/Kol/2016 Assessment Year : 2011-12 M/S Royal Bank Of Scotland N.V. -Vs- Dcit (It), Circle-2(1), Kolkata [Pan: Aacca 6818 K] (Appellant) (Respondent)

vii)(b) OF THE ACT Ground No. (ii) of Revenue Appeal The brief facts of this issue are that the assessee claimed provision for bad and doubtful debts u/s 36(1)(viia)(b) of the Act before setting off the brought forward losses. During the year under consideration, the bank has claimed deduction of provision for bad and doubtful debts

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. JCIT (TDS), RANGE - 6, SILIGURI

vii) of sub-section (1) of section 9;\n(iii) “professional services” shall have the same mean-ing as in clause (a) of\nthe Explanation to section 194J;\n(iv) “work” shall have the same meaning as in Explanation III* to section\n194C;\n[(v) “rent” shall have the same meaning as in clause (i) to the Explanation\nto section

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. DDIT, INTERNATIONAL TAXATION - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

vii)(c) of the Act; • Without prejudice to the above, payments made by the Assessee to Appledore was not FTS in terms of Article 13(4)( c) of the DT AA and accordingly was not taxable; • As such, tax under section 195 of the Act was not required to be deducted by the Assessee, on payments made to Appledore. According

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. ADIT (INTERNATIONAL TAXATION) - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

vii)(c) of the Act; • Without prejudice to the above, payments made by the Assessee to Appledore was not FTS in terms of Article 13(4)( c) of the DT AA and accordingly was not taxable; • As such, tax under section 195 of the Act was not required to be deducted by the Assessee, on payments made to Appledore. According

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

36. We have heard the rival contentions of both the parties and perused the materials available on record. At the outset, we find that issue under consideration has already been decided by the co-ordinate Bench of this Tribunal in assessee’s own case (supra) for statistical purpose. The relevant extract of this order is reproduced below:- 6.2. We have

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:

36 months prior to its sale, does not lose its character of being a long term capital asset, even though it might get taxed as short term capital gain in terms of deeming fiction provided u/s 50 of the Act. Reliance in this regard is placed on the decision of Hon’ble Supreme Court in the case