ACIT, CIRCLE - 7(1) , KOLKATA vs. M/S. BRITANNIA INDUSTRIES LTD., , KOLKATA

In the result, appeal of the revenue in ITA No

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Ble

deemed to be a short term capital gain. 20. Section 112 of the Act which provides for concessional rate of tax on long term capital gain is only applicable on transfer of long term capital asset. The long term capital asset is defined under Section 2(29A) of the Act as capital asset which is not a short-term capital

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

ACIT, CIRCLE - 6(2), KOLKATA vs. M/S. NAGREEKA SYNTHETICS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is allowed for statistical purposes and the cross-objection by the assessee are dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 427/Kol/2019 Assessment Year: 2009-10 Asst. Commissioner Of Income Tax, M/S. Nagreeka Synthetics Pvt. Ltd. Circle-6(2), Kolkata Vs 6Th Floor, Jain Chamber 18, R.N. Mukherjee Road Kolkata - 700001 [Pan : Aaacn8691D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) C.O. No. 19/Kol/2021 Assessment Year: 2009-10 M/S. Nagreeka Synthetics Pvt. Ltd. Asst. Commissioner Of Income 6Th Floor, Jain Chamber Vs Tax, Circle-6(2), Kolkata 18, R.N. Mukherjee Road Kolkata - 700001 [Pan : Aaacn8691D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.D. Verma, Advocate Revenue By : Shri Abhijit Kundu, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 05/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 09/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- 4, Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 21/06/2018, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2009- 10. The Assessee Has Filed A Cross-Objection Being C.O. No. 19/Kol/2021. 2. The Registry Has Pointed Out That There Is A Delay Of 965 Days In Filing The Cross-Objection By The Assessee. The Assessee Has Filed A 2

capital gains and income from other sources and w.e.f. 01/04/2015, even the companies whose principle business is that of trading in shares and that of banking or of granting of loans and advance then in case of such companies other than those referred above, it along with its main 5 I.T.A. No. 427/Kol/2019 Assessment Year: 2009-10 C.O. No. 19/Kol/2021

DCIT, CIR-8, KOLKATA ,KOLKATA vs. OBEROI HOTELS PVT. LTD. , KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

Dividend Income when in the preceding assessment year the disallowance was only to the extent of Rs.1 Lakh. 9. For that the Ld.CIT(A) is wrong in rejecting the claim for deduction U/s 80-O. 10. For that the Ld.CIT(A) is not justified in rejecting the claim for relief U/s 90 ignoring the provisions of the DTAA with

OBEROI HOTELS PRIVATE LIMITED.,KOLKATA vs. DCIT,CIR-8, KOLKATA, KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

Dividend Income when in the preceding assessment year the disallowance was only to the extent of Rs.1 Lakh. 9. For that the Ld.CIT(A) is wrong in rejecting the claim for deduction U/s 80-O. 10. For that the Ld.CIT(A) is not justified in rejecting the claim for relief U/s 90 ignoring the provisions of the DTAA with

OBEROI HOTELS PRIVATE LIMITED,KOLKATA vs. DCIT,CIR-8, KOLKATA. , KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

Dividend Income when in the preceding assessment year the disallowance was only to the extent of Rs.1 Lakh. 9. For that the Ld.CIT(A) is wrong in rejecting the claim for deduction U/s 80-O. 10. For that the Ld.CIT(A) is not justified in rejecting the claim for relief U/s 90 ignoring the provisions of the DTAA with

ARATI RAY,KOLKATA vs. DCIT, CEN. CIR. -3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit

SAMIT RAY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit

MALIKA ROY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit

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)

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 of both

SHRI BUDHRAJ AGARWAL,KOLKATA vs. ITO, WARD-43(6) , KOLKATA

In the result, the appeal filed by the assessee is allowed in the legal issue as well as on merit

Bench: Sri Rajesh Kumar & Sonjoy Sarma

Capital Gain were raised in course of the assessment proceedings against which the appellant filed evidences in support of the transactions as well as the genuineness of the company (which is a profit making dividend paying company) and report of analyst in support of rise in prices of the shares. 5. For that the Ld. Pr. CIT erred in setting

MANISH COMPANY PVT. LTD.,KOLKATA vs. I.T.O., WARD-9(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2017-18

dividend income and the disallowance was made towards earning of such exempt income. It is strongly contended by the Ld. Counsel that assessee has not earned any exempt income during the year and therefore no disallowance is warranted under section 14A of the Act read with rule 8D. 6. Per contra, Ld. Senior DR referred to the amendment made

GRAPHITE INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

dividend during the year under consideration from the securities sold during the year. Hence, provisions of Section 94(7) does not get attracted. Further no STT has been levied on sale or purchase of any securities. 15.3. Please also explain as to why the provisions of Explanation to Section 73 should not be applied in your case. In this regard

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

capital gains’ in respect of the money so received or the market value of the other assets on the date of distribution, as reduced by the amount assessed as dividend within the meaning of sub- clause (c ) of Clause (22) of Section 2 and the sum so arrived at shall be deemed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

capital gains’ in respect of the money so received or the market value of the other assets on the date of distribution, as reduced by the amount assessed as dividend within the meaning of sub- clause (c ) of Clause (22) of Section 2 and the sum so arrived at shall be deemed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

capital gains’ in respect of the money so received or the market value of the other assets on the date of distribution, as reduced by the amount assessed as dividend within the meaning of sub- clause (c ) of Clause (22) of Section 2 and the sum so arrived at shall be deemed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

capital gains’ in respect of the money so received or the market value of the other assets on the date of distribution, as reduced by the amount assessed as dividend within the meaning of sub- clause (c ) of Clause (22) of Section 2 and the sum so arrived at shall be deemed

INCOME TAX OFFICER, KOLKATA vs. MILESTONE FINSTOCK PVT. LTD., KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2012-13 Ito, Ward-12(1), Kolkata…..…………..………….……….……….……Appellant Vs. Milestone Finstock Pvt. Ltd..……...…………………….....……...…..…..Respondent 62A, Hazra Road, Kol-700019. [Pan: Aaccm0280B] Appearances By: Shri Mohit Mrinal, Cit-Dr, Appeared On Behalf Of The Appellant. Shri N S Saini, Ar & Priyanka Salarpuria, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 07, 2026 Date Of Pronouncing The Order : February 24, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 24.09.2020 Of The Cit(Appeals)-4, Kolkata (Hereinafter Referred To As The “Cit(A)”) Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2012–13. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 1075 Days & The Revenue Has Filed An Affidavit For Condonation Of The Delay. The Contents Of The Said Affidavit Are As Under: Milestone Finstock Pvt. Ltd

Capital gains” and “Income from other sources”], or a company the principal business of which is the business of banking or the granting of loans and advances) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this section, be deemed to be carrying on a speculation business to the extent