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)

Income Tax (Appeals) was erred in law as well as in facts in confirming the addition made by the Ld. AO in treating the short-term capital gains

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)

Income Tax (Appeals) was erred in law as well as in facts in confirming the addition made by the Ld. AO in treating the short-term capital gains

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]

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

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]

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

KB CAPITAL MARKETS (P) LTD.,KOLKATA vs. D.C.I,.T CIR - 6 , KOLKATA., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

income. He analysed the duration of holding, frequency of transactions and conduct of the assessee and came to the following conclusions. :- “The above transactions are summarized in table-1 and table-2. In table-1, all the transactions which have been claimed by the assessee as Short Term Capital Gains have been summarized. In table-2, all the transactions which

DCIT CIR - 6,KOLKATA., KOLKATA vs. M/S K.B. CAPITAL MARKETS LTD., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

income. He analysed the duration of holding, frequency of transactions and conduct of the assessee and came to the following conclusions. :- “The above transactions are summarized in table-1 and table-2. In table-1, all the transactions which have been claimed by the assessee as Short Term Capital Gains have been summarized. In table-2, all the transactions which

INCOME TAX OFFICER-WARD-31(3), KOLKATA, KOLKATA vs. DILIP B BESAI (HUF), KOLKATA

In the result, the appeals of the revenue are dismissed

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

Capital Gains instead of Business Income as determined by the Assessing Officer" Ground. N0.2: "That. on the facts and in the circumstances of the case, the Ld, CIT(A) erred in overlooking CBDT Instruction No.4/2007 dated 15.06.2007, ignoring various decisions of higher courts and also ignoring the frequency of trade, limited holding period and huge volume of transactions undertaken

ACIT, CIRCLE - 31, KOLKATA, KOLKATA vs. PRADYUMNA DALMIA, KOLKATA

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

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

Capital Gain instead of Business Income without considering the frequency of purchase and sales of shares, period of holding and magnitude of transactions of shares . 2. The Ld.CIT(A) also erred in law without relying on CBDT Circular No. 4 of 2007 and the decision of Authority for Advance Ruling in 288 ITR 641 on this subject. 3.2. The Learned

RAVI JALAN,KOLKATA vs. ITO, WARD - 36(1), KOLKATA , KOLKATA

In the result, Ground r.w

addition made under the head “Capital Gain” as well as under the head “i head “Capital Gain” as well as under the head “income

ITO, WARD - 12(1), KOLKATA, KOLKATA vs. M/S. LYONS & ROSES PVT. LTD., KOLKATA

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

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

gain. Period of holding of such assets cannot determine its status or change it from investment (capital) to trading (stock in trade). The audited accounts for the Assessment Year 04-05 and the earlier years placed in the paper book made it clear that every year the assessee had acquired shares for trading purpose and separately also for investment purpose

MINAKSHI DAS,JALPAIGURI vs. I.T.O., WARD - 1(3),, SILIGURI

capital gain in the\nreturn of income filed by the assessee in response to notice u/s 148\nof the Act as stated hereinabove. Therefore, the said income as per\nthe computation of income of ₹29,58,850/- has been taken by the Id.\nAO as income of the assessee as per ITR and thereafter again made\nthe addition

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

capital gains of ₹89,11,086/- besides other income. Subsequently, the return was selected for scrutiny and order u/s 143(3) of the Act was passed wherein the Assessing Officer (hereinafter referred to as Ld. 'AO') made an addition

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

capital gains of ₹89,11,086/- besides other income. Subsequently, the return was selected for scrutiny and order u/s 143(3) of the Act was passed wherein the Assessing Officer (hereinafter referred to as Ld. 'AO') made an addition

EVEREST FINANCE & INVESTMENT COMPANY,KOLKATA vs. JCIT, RANGE-34, KOLKATA, KOLKATA

In the result, the appeals filed by the assessee (Ground No

Bench: Shri N.V. Vasudevan, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2056/Kol/2014 (िनधा"रणवष" / Assessment Year: 2011-12 Everest Finance & Investment Vs. J.C.I.T, Range - 34,Kolkata Co. M/S. G.P. Agarwal & Associates, 7A, K.S.Ray Road, 2Nd Floor, Kol - 1. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aabfe7233Q (Appellant) .. (Respondent) Appellantby :Shri S.S Gupta & Arvind Agarwal, Advocate Respondentby :Shri G. Mallikarjuna, Cit Dr सुनवाईकीतारीख/ Date Of Hearing : 12/07/2017 घोषणाकीतारीख/Date Of Pronouncement : 11/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2011-12, Is Directed Against The Order Passed By The Ld. Commissioner Of Income Tax (Appeals)-Xx, Kolkata, In Appeal No.232/Cit(A)-Xx/Range-34/2013-14/Kol, Dated 10.07.2014, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S.143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 24.01.2014. 2. The Grounds Of Appeal Raised By The Assessee Reads As Under:

addition made by the ld. JCIT in treating the short-term capital gain income of Rs.1,95,94,294/- as income

DCIT, CIR-36, KOLKATA, KOLKATA vs. SMT YAMINI KHANDELWAL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

addition to this, she had also undertaken intra-day transactions (same day purchase and same day sale) as speculation business income. It was submitted that the intention of investing in the stock market was always to earn capital gains

DCIT, CIR-36, KOLKATA, KOLKATA vs. SHRI SURAJ KHANDEL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

addition to this, she had also undertaken intra-day transactions (same day purchase and same day sale) as speculation business income. It was submitted that the intention of investing in the stock market was always to earn capital gains

YAMINI KHANDEL WAL,KOLKATA vs. ACIT, CIR-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

addition to this, she had also undertaken intra-day transactions (same day purchase and same day sale) as speculation business income. It was submitted that the intention of investing in the stock market was always to earn capital gains

SURAJ KHANDELWAL,KOLKATA vs. JCIT, RG-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

addition to this, she had also undertaken intra-day transactions (same day purchase and same day sale) as speculation business income. It was submitted that the intention of investing in the stock market was always to earn capital gains