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

43A as only\ntrading receipts can be considered as part of the income and the\nassessee is not a dealer of foreign exchange.\n4.5 Further, as regards the provisions of section 115JB of the Act, the\ndecision in Apollo Tyres Ltd. (supra) is also of no help to the assessee.\nIt has been held in the case of Apollo Tyres

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

43A as only\ntrading receipts can be considered as part of the income and the\nassessee is not a dealer of foreign exchange.\n4.5 Further, as regards the provisions of section 115JB of the Act, the\ndecision in Apollo Tyres Ltd. (supra) is also of no help to the assessee.\nIt has been held in the case of Apollo Tyres

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

43A as only\ntrading receipts can be considered as part of the income and the\nassessee is not a dealer of foreign exchange.\n4.5 Further, as regards the provisions of section 115JB of the Act, the\ndecision in Apollo Tyres Ltd. (supra) is also of no help to the assessee.\nIt has been held in the case of Apollo Tyres

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

43A as only\ntrading receipts can be considered as part of the income and the\nassessee is not a dealer of foreign exchange.\n4.5 Further, as regards the provisions of section 115JB of the Act, the\ndecision in Apollo Tyres Ltd. (supra) is also of no help to the assessee.\nIt has been held in the case of Apollo Tyres

D.C..I.T.,CIRCLE-5(2), KOLKATA vs. M/S SISECAM FLAT GLASS INDIA LTD. (FORMERLY HNG FLAT GLASS LTD.), KOLKATA

In the result, the appeal of revenue is dismissed and cross objection of assessee is allowed for statistical purpose

Bench: Hon’Ble Shri J. Sudhakar Reddy, Am & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2012-13

TDS u/s. 40(a)(ia) of the Act. On appeal the Ld. CIT(A) granted relief. 4. Aggrieved, the Revenue is in appeal before us on the following grounds:- 1. Whether on the facts and in the circumstances of the case, the Ld CIT(A) has erred in considering the monitoring fees within the preview of interest as per DTDA

DCIT, CIRCLE -5 KOLKATA, KOLKATA vs. M/S KESORAM INDUSTRIES LTD., KOLKATA

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

Bench: : Shri M. Balaganesh

43A of the Act. Since the revenue’s appeal for the Asst Year 2004-05 is pending before the Hon’ble Calcutta High Court wherein the notional exchange gain has not been subjected to tax, we deem it fit and appropriate, in the interest of justice and fair play, to direct the Learned AO , to decide the issue under appeal

IVL DHUNSERI PETROCHEM INDUSTRIES PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.1712/Kol/2024 (नििाारण वर्ा / Assessment Year : 2020-2021) Ivl Dhunseri Petrochem Vs Dcit, Circle-11(1), Kolkata Industries Pvt. Ltd. Dhunseri House, 4A Woodburn Park, L.R.Sarani, West Bengal-700020 Pan No. :Aafcd 5214 M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee By : Shri Akkal Dudhewala, Ca & Vidhi Ladia, Ca राजस्व की ओर से /Revenue By : Pradip Kumar Mondal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 19/03/2025 घोषणा की तारीख/Date Of Pronouncement : 23/04/2025 आदेश / O R D E R Rajesh Kumar, Am : This Is An Appeal Filed By The Assessee Against The Order Dated 26/07/2024, Passed By The Assessment Unit, National Faceless Assessment Centre U/S.143(3) R.W.S.144C(13) R.W.S.144B Of The Act, For The Assessment Year 2020-2021 On The Following Grounds :- 1.(A) For That On The Facts & In The Circumstances Of The Case & In Law, The Tpo Erred In Making A Downward Adjustment Of Rs.24,72,79,392/- In Respect Of The Transfer Value Of Power By The Captive Power Plant At Haldia, West Bengal. (B) For That On The Facts & In The Circumstances Of The Case & In Law, The Methodology Followed By The Assessee To Benchmark The Arm'S Length Value Of The Power Transferred By The Eligible Unit To The Non-Eligible Unit Fulfilled The Internal Cup Parameters & In That View Of The Matter The Transfer Pricing Adjustment Made By The Tpo Was Impermissible On The Given Facts & In Law. (C) For That On The Facts & In The Circumstances Of The Case & In Law, The Manner In Which The Drp/Tpo Has Benchmarked

TDS of Rs.1,47,89,550/- and TCS of Rs. 1,93,442/- while computing the tax payable/refundable. 5. For that on the facts and in the circumstances of the case and in law, the NFAC was unjustified in not granting credit for DDT taxes of Rs. 1,31,04,000/- paid

ACIT(IT), CIRCLE - 1(1) , KOLKATA vs. M/S. CATHAY PACIFIC AIRWAYS LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2015-16 Assistant Commissioner Of M/S. Cathay Pacific Airways Income Tax (It), Circle-1(1), Limited Kolkata. C/O Pricewaterhouse-Coopers Vs. Ltd., Plot Y-14, Block-Ep, Sector-V, Salt Lake, Kolkata- 700091. (Pan: Aabcc5644E) (Appellant) (Respondent) Present For: Appellant By : Shri Amal Kamat, Cit, Dr Respondent By : Shri J. P. Khaitan, Sr. Advocate & Shri Pratyush Jhunjhunwala, Advocate

43A, in the case of an assessee, being a non-resident, engaged in the business of operation of aircraft, a sum equal to five per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head “Profits and gains of business

ORIENT PAPER & INDUSTRIES LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey

43A of the 1948 Act lays down the terms and conditions for determining the tariff for supply of electricity. The said provision makes it clear that tariff is determined on the basis of various parameters. That apart, it is only upon granting of specific consent that a private entity could set up a power generating unit. However, such a unit

EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

TDS letter dated 08.03.2016 6.Large amount of Point no. 5 of our 138 sundry creditors letter dated 08.03.2016 7.Low Net Profit or Point no. 3 & 5 of our 138 & 140 Loss shown from letter dtd.21.12.15 and Large Gross Receipts point no.4 of letter dtd.08.03.16 He contended that all these seven issues were duly considered and examined by the Assessing Officer

M/S. BANDHAN BANK LTD. (ERSTWHILE GHOSH FINANCE LTD),KOLKATA vs. DCIT,CIR-5(1), KOL, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2016-17

TDS could be given if the proof was asked for by the Assessing Officer in terms of section 139(9) of the Income Tax Act, 1961, but not in case where the assessee had placed the proof on record without filing a revised return under section 139(5) of the Income Tax Act, 1961. Thus, documents placed on record with

M/S VODAFONE EAST LTD.(FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. A.D.I.T RANGE - 7,KOL., KOLKATA

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

Bench: Shri Mahavir Singh & Shri M. Balaganesh

TDS provisions for international roaming charges of Rs.10,64,45,346/- is allowed. 10. Disallowance of Penalty paid to Department of Telecommunications- Rs.5,05,000/- The next issue to be decided in this appeal is as to whether the sum paid as penalty to Department of Telecommunications (DOT) by the assessee would fall under the Explanation to section

CATHAY PACIFIC AIRWAYS LIMITED,KOLKATA vs. ACIT,CIRCLE-(1), IT-KOL. , KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalita.420/Kol/2023 &

43A, in the case of an assessee, being a non-resident, engaged in the business of operation of aircraft, a sum equal to five per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head “Profits and gains of business

HONG KONG DRAGON AIRLINES LIMITED,KOLKATA vs. ACIT,CIR-1(1), IT-KOLKATA, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalita.420/Kol/2023 &

43A, in the case of an assessee, being a non-resident, engaged in the business of operation of aircraft, a sum equal to five per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head “Profits and gains of business

CATHAY PACIFIC AIRWAYS LTD. ,KOLKATA vs. ACIT, CIR-1(1), IT,KOL, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalita.420/Kol/2023 &

43A, in the case of an assessee, being a non-resident, engaged in the business of operation of aircraft, a sum equal to five per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head “Profits and gains of business

DCIT, CC-2(4), KOLKATA, KOLKATA vs. M/S BALAJI AGRO PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Central Circle-2(4), M/S Balaji Agro Pvt. Ltd. Aaykar Bhavan Poorva, A5-6 Sarkarpool Maheshtala, 4Th Floor, 110 Shantipally, E.M. New Budge Budge Trunk Rd. Vs. Bypass, Kolkata-700107 Gopalpur 24 Paraganas South West Bengal Kolkata-700143, West Bengal (Appellant) (Respondent) Pan No. Aabcb9078M Assessee By : Shri Miraj D Shah, Ar Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 16.07.2025 Date Of Pronouncement: 30.07.2025

43A of the Act besides, issuing notice u/s 143(2) of the Act. During the course of assessment proceedings, the ld. AO on the basis of incriminating material and perusal of the submission of the assessee observed that the assessee has taken loan of ₹75,00,000/- from Everlight Vincom Private Limited on which interest