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

Capital Gain” as declared by the Assessee. Gr.No.1 & 2 raised by the Assessee are accordingly allowed. In view of the decision on ground No.1 & 2, we are of the view that the other connected grounds of appeal No.3 to 6 are either consequential or do not call for any adjudication. 21. Ground No.7 raised by the assessee and ground

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)

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 to be not pressed

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)

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 to be not pressed

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)

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 to be not pressed

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)

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 to be not pressed

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]

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 NO. 2 IN ITA NO. 1064/Kol/2010 FOR AY 2006-07 The brief facts of this issue is that the assessee made purchases from the following parties :- Mayur

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]

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 NO. 2 IN ITA NO. 1064/Kol/2010 FOR AY 2006-07 The brief facts of this issue is that the assessee made purchases from the following parties :- Mayur

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 to the extent of ₹89,11,086/- as per computation of income submitted, out of which a sum of ₹88,98,508/- was reported to have been against the sale of land. On examination of Schedule 6 of the Audited Balance Sheet as submitted, it was found that there was deduction

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 to the extent of ₹89,11,086/- as per computation of income submitted, out of which a sum of ₹88,98,508/- was reported to have been against the sale of land. On examination of Schedule 6 of the Audited Balance Sheet as submitted, it was found that there was deduction

D.C.I.T.,CIRCLE-3(1), KOLKATA vs. SMT. SHIKHA ROY, KOLKATA

In the result, appeal of the revenue is dismissed

capital gains on amount received after deducting certain assessee was liable to pay capital gains on amount received after deducting

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)

Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources … 1,85,35,810/- Gross Total Income 1,85,35,810/- Less : Short Term Capital Loss brought forward adjusted NIL Deduction

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)

Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources … 1,85,35,810/- Gross Total Income 1,85,35,810/- Less : Short Term Capital Loss brought forward adjusted NIL Deduction

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)

Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources … 1,85,35,810/- Gross Total Income 1,85,35,810/- Less : Short Term Capital Loss brought forward adjusted NIL Deduction

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)

Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources … 1,85,35,810/- Gross Total Income 1,85,35,810/- Less : Short Term Capital Loss brought forward adjusted NIL Deduction

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

capital gain on sale of the building in question, which is a depreciable asset, after deducting the opening written down

SMT SARBANI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

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

deduction of Rs. 50 lakhs against the investment made on 03.06.2009 in the NH Bond and also the investment in land for Rs.3,50,000/- and computed revised long term capital gain

SMT SAKI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

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

deduction of Rs. 50 lakhs against the investment made on 03.06.2009 in the NH Bond and also the investment in land for Rs.3,50,000/- and computed revised long term capital gain

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:

gain and treat the assessee as an Investor. 9. In the result, the appeal filed by the assessee( Ground No.1 to 4), is allowed. 10. The Ground Nos. 5, 6 and 7 raised by the assessee relate to the issue of disallowance of ( Cost of acquisition of shares), interest of Rs.24,87,354/-. 11. The facts leading to the issue