RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

short term capital gains / long term capital gains does not warrant any disturbance and deserves to be accepted. Accordingly, the Grounds 1 to 3 raised by the assessee for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 are allowed. 7. The Ground No. 4 raised by the assessee for the Asst Year 2005-06 was stated

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

short term capital gains / long term capital gains does not warrant any disturbance and deserves to be accepted. Accordingly, the Grounds 1 to 3 raised by the assessee for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 are allowed. 7. The Ground No. 4 raised by the assessee for the Asst Year 2005-06 was stated

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

short term capital gains / long term capital gains does not warrant any disturbance and deserves to be accepted. Accordingly, the Grounds 1 to 3 raised by the assessee for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 are allowed. 7. The Ground No. 4 raised by the assessee for the Asst Year 2005-06 was stated

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

short term capital gains / long term capital gains does not warrant any disturbance and deserves to be accepted. Accordingly, the Grounds 1 to 3 raised by the assessee for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 are allowed. 7. The Ground No. 4 raised by the assessee for the Asst Year 2005-06 was stated

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:

short term capital gain of Rs 7,18,74,000/- in the facts of the case. The ld AO is accordingly directed to give benefit of the same to the assessee based on the correctness of the claim of brought forward loss figure made by the assessee. Accordingly, the Ground Nos. 5.1 & 5.2 raised by the assessee are allowed

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:

short term capital gain of Rs 7,18,74,000/- in the facts of the case. The ld AO is accordingly directed to give benefit of the same to the assessee based on the correctness of the claim of brought forward loss figure made by the assessee. Accordingly, the Ground Nos. 5.1 & 5.2 raised by the assessee are allowed

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

term and capital gains depending upon the period of holding. Accordingly, we hold that the ld CITA had rightly treated the gains as income from capital gains. Accordingly the ground raised by the revenue in this regard for the Asst Years 2006-07 and 2007-08 is dismissed. 6. ADDITION TOWARDS UNVERIFIED PURCHASES – Rs. 55,50,937/- GROUND

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

term and capital gains depending upon the period of holding. Accordingly, we hold that the ld CITA had rightly treated the gains as income from capital gains. Accordingly the ground raised by the revenue in this regard for the Asst Years 2006-07 and 2007-08 is dismissed. 6. ADDITION TOWARDS UNVERIFIED PURCHASES – Rs. 55,50,937/- GROUND

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. SHREE UMESH HIRANAND CHABLANI, KOLKATA

In the result, the appeal of revenue is dismissed

Bench: Shri M. Balaganesh, Am & Shri K. Narasimha Chary, Jm]

Short Term Capital Gains or Long Term Capital Gains. 3 Shree Umesh Hiranand Chablani, AY 2009-10 7. It is submitted by the learned AR that in the assessee’s own case for the AY 2008-09, in ITA 561//Kol/2012 a coordinate Bench of this Tribunal held that this sort of transactions give rise to only capital gains

SRI KANCHAN KAMAL MUKHOPADHYAY,KOLKATA vs. ITO, WD-20(2), KOLKATA, KOLKATA

In the result both the appeals of the assessee are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A Nos. 587 & 588/Kol/2014 Assessment Year : 2008-09 Shri Kanchan Kamal Mukhopadhyay -Vs.- I.T.O., Ward-20(2) Kolkata Kolkata. [Pan : Aanpm 2997 B] (Respondent) (Appellant) For The Appellant : Shri Rip Das, Fca For The Respondent : None Date Of Hearing : 10.07.2017. Date Of Pronouncement : 14.07.2017. Order Per N.V.Vasudevan, Jm

TDS. The AO further noticed that the assessee had earned Short term capital gain of Rs.96,434.42 on redemption of units

DCIT, CIRCLE-3(1), KOLKATA, KOLKATA vs. THE PEERLESS GEN. FIN. & INV. CO. LTD., KOLKATA

Appeal is dismissed

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2014-15

short term capital gain computed u/s 50 of the Act. 3. The Ld. CIT(A) has erred in law in deleting the addition of Rs.67,56,925/- u/s 14A disallowance as proportionate interest of Rs.67,56,925/- was computed under Rule 8D(2)(ii) read with Rule 8D of the I.T. Rule. 4. The Ld. CIT(A) has erred

SHRI KISHAN SARAF,KOLKATA vs. ACIT, CIRCLE - 45, KOLKATA, KOLKATA

In the result, appeal filed by the Revenue, on this issue, is dismissed

Bench: Shri A. T. Varkey, Jm &Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.2265/Kol/2014 िनधा"रणवष" / Assessment Year: 2008-09 Vs. A.C.I.T, Cir-45, Kolkata. Shri Kishan Saraf Krishna Building, Room No.817, Govt. Place(West), Kolkata – 224, A.J.C. Bose Road, Kolkata – 700 001. 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Akups4979 C (Assessee) .. (Revenue) & आयकरअपीलसं./Ita No.27/Kol/2015 िनधा"रणवष" / Assessment Year: 2008-09 A.C.I.T, Cir-45, Kolkata. Vs. Shri Kishan Saraf Krishna Building, Room No.817, Govt. Place(West), Kolkata 224, A.J.C. Bose Road, Kolkata – – 700 001. 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Akups 4979 C (Revenue) .. (Assessee) Assesseeby : Shri S.D Varma, Adv. Revenue By : Shri Saurabh Kumar, Acit, Dr सुनवाईकीतारीख/ Date Of Hearing : 05/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/12/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Cross-Appeal Filed By The Assessee & Revenue, Pertaining To Assessment Year 2008-09, Are Directed Against An Order Passed By The Ld. Commissioner Of Income Tax (Appeals)-Xxx, Kolkata In Appeal No.238/Cit(A)- Xxx/Cir-45/2013-14, Dated 29.10.2014, Which In Turn Arises Out Of An Order Passed

Short Term Capital Gain. 2.For that, the Ld. CIT(A)-XXX, Kolkata has erred in law and on facts in holding that income arising out of sale of shares held up to 90 days or less is to be taxed as business income and the income arising out of sale of shares held for more than 90 days

ACIT, CIRCLE-45, KOLKATA, KOLKATA vs. SHRI KISHAN SARAF, KOLKATA

In the result, appeal filed by the Revenue, on this issue, is dismissed

Bench: Shri A. T. Varkey, Jm &Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.2265/Kol/2014 िनधा"रणवष" / Assessment Year: 2008-09 Vs. A.C.I.T, Cir-45, Kolkata. Shri Kishan Saraf Krishna Building, Room No.817, Govt. Place(West), Kolkata – 224, A.J.C. Bose Road, Kolkata – 700 001. 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Akups4979 C (Assessee) .. (Revenue) & आयकरअपीलसं./Ita No.27/Kol/2015 िनधा"रणवष" / Assessment Year: 2008-09 A.C.I.T, Cir-45, Kolkata. Vs. Shri Kishan Saraf Krishna Building, Room No.817, Govt. Place(West), Kolkata 224, A.J.C. Bose Road, Kolkata – – 700 001. 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Akups 4979 C (Revenue) .. (Assessee) Assesseeby : Shri S.D Varma, Adv. Revenue By : Shri Saurabh Kumar, Acit, Dr सुनवाईकीतारीख/ Date Of Hearing : 05/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/12/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Cross-Appeal Filed By The Assessee & Revenue, Pertaining To Assessment Year 2008-09, Are Directed Against An Order Passed By The Ld. Commissioner Of Income Tax (Appeals)-Xxx, Kolkata In Appeal No.238/Cit(A)- Xxx/Cir-45/2013-14, Dated 29.10.2014, Which In Turn Arises Out Of An Order Passed

Short Term Capital Gain. 2.For that, the Ld. CIT(A)-XXX, Kolkata has erred in law and on facts in holding that income arising out of sale of shares held up to 90 days or less is to be taxed as business income and the income arising out of sale of shares held for more than 90 days

TAPAN KUMAR DAS,KOLKATA vs. ITO, WD-50(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee on ground No

Short term Capital Gain amounting to Rs.52,033.34 and no tax on Long term Capital Gain amounting to Rs.5,75,394.30 on the basis of surmises, suspicion and conjectures and devoid of any logic whatsoever. 4.1 Brief facts qua the issue are that the Assessing officer on the basis of data available before him from Form No. 26AS

SUVAPRASANNA BHATTACHARYA,KOLKATA vs. ACIT, CIRCLE - 55, KOLKATA, KOLKATA

In the result, appeal filed by assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Waseem Ahmedassessment Year :2006-07 Suvaprasanna Bhatacharya V/S. Acit, Circle-55, Bh-167, Salt Lake, Sector- 54/1, Rafi Ahmed Ii, Kolkata-700 016 Kidwai Road, [Pan No.Aedpb 2611 R] Kolkata – 700 016 .. अपीलाथ" /Appellant ""यथ"/Respondent

short term capital gains of Rs.10,38,108/- which will be taxed at special rate of 10%. Assessed u/s.143(3) of the I.T.Act, 1961. Issue demand notice. Penalty proceeding u/s.271(1)( c) initiated. Tax calculation is given shown below. Tax 21,69,024 Add Surcharge 21,902 Education cess 47,719 Total 24,33,645 Less TDS

UTTAM DAS,KOLKATA vs. I.T.O., WARD - 2(3), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Sri Rajpal Yadav & Sri Rakesh Mishra

Gain or Short-Term Capital Loss is baseless and devoid of any application of mind. The only transaction that the assessee had in the scrip of Global Capital Markets Limited was that of purchase of 5,000 shares on 28.03.2011 and another 5000 shares on 29.03.2011. The same may be verified from the Contract Note issued by the broker - Motilal

SHREE GOVIND PROPERTY & INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1),, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Term Capital Gains of Rs. 28,80,542/ in its return of income under the head Profits and Gains of Business and Profession instead of the correct business ITA No.: 2166/KOL/2025 Assessment Year: 2018-19 Shree Govind Property & Investments Pvt. Ltd. income of Rs. 58,525/- and had duly filed a revised computation of income during the assessment proceedings

BIJNI DOOARS TEA COMPANY LTD. ,KOLKATA vs. PCIT, KOL-2, KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2018-19 Bijni Dooars Tea Company Principal Commissioner Of Ltd. Income-Tax, Kolkata-2, 4Th Floor, Room No. 1, Kolkata. Vs. Shantiniketan, 8, Camac Street, Kolkata-700017. (Pan: Aabcb1013E) (Appellant) (Respondent)

Short Term Capital Gains as per the normal provisions of the Act.. .. there was no malafide intention of the assessee company to make such a mistake." (page 22 of the Paper Book) First of all, the AR of the assessee admits that mistakes have been made. Secondly, he also admits that particulars of DOT are part and parcel

JCIT(OSD), CIRCLE - 10, KOLKATA, KOLKATA vs. TOLLYGUNGE ESTATES PVT. LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

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

capital gains in accordance with IT Act, 1961 and tax accordingly. Therefore, assessee’s ground no. 1 & 2 are allowed.” Being aggrieved by this order of Ld. CIT(A) Revenue is in appeal before us. Shri Sanjay Bhattacharya, Ld. Authorized Representative appearing on behalf of assessee and Shri Niloy Baran Som, Ld. Departmental Representative appearing on behalf of Revenue