SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

10 Shuvro Chattaraj, AY: 2015-16 arose in the AY 2013-14 only is incorrect. Further, submission in this regard are as under: a. “He failed to consider that the assessee had entered into two different development agreements dated 03.11.2011 (AY 2013-14) and 26.09.2014 (AY. Thus, the observation that the Capital gain aroused in AY 2013-14 only

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

gains under section 48 of the Act. Sub-clause (i) of that Section states that expenditure incurred wholly and exclusively in connection with the transfer of capital asset has to be deducted from full value consideration received or accruing. Preamble of the Conveyance Deed executed by the assessee along with Shri Nita Basu reads as under :— 'THIS INDENTURE made this

SAROJ BAID,KOLKATA vs. ITO, WARD - 36(3), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

section 10(38) of I.T. Act 1961 for long term capital gain of Rs. 68,87,029/- earned by your appellant on sale of 26000 shares of NCL Research & Financial Services Ltd. (3) Ld. Income Tax Officer has erred in law as well in fact in denying conclusion on transaction of so called penny stocks without providing to your appellant

SAROJ BAID,KOLKATA vs. ITO, WARD 36(3), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

section 10(38) of I.T. Act 1961 for long term capital gain of Rs. 68,87,029/- earned by your appellant on sale of 26000 shares of NCL Research & Financial Services Ltd. (3) Ld. Income Tax Officer has erred in law as well in fact in denying conclusion on transaction of so called penny stocks without providing to your appellant

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain to different entities. In reply to Question No. 17, he stated Page 8 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year

PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain to different entities. In reply to Question No. 17, he stated Page 8 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year

M/S. GATEWAY FINANCIAL SERVICES LTD., ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain to different entities. In reply to Question No. 17, he stated Page 8 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain to different entities. In reply to Question No. 17, he stated Page 8 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year

SWETA SONTHALIA,KOLKATA vs. ITO, WARD 7(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

ii) Saurabh Prasannavadan Vakil vs. ITO Ward-1(2)(4) (Now DCIT 1(1)(1), Vadodara in ITA NO. 975/Ahd/2024 dated of order 15.10.2024 (Ahmedabad ITAT). 3 I.T.A. No. 207/Kol/2025 Assessment Year: 2013-14 Sweta Sonthalia iii) CIT vs. Smt. Neena Krishna Menon [2021] 123 taxmann.com 205 (Karnataka) dated of order 19.11.2020 (Karnataka High Court) iv) Rajendra Harjivandas Prajapati

SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed

10 cotthas 11 chattak\n38 Sq feet situated at 13 B.T. Road owned by Sint. Saroj Goenka (PAN:ADXPG1677K) (5 Cotthas 4\nChattak 29 sq ft) and Smt. Santosh Goenka (PAN: ADXPG9550F) (5 cotthas 7 Chattak 9 sq\nft) (hereinafter referred to as the owners] and which has been taken on rent by the Diwakar Viniyog Pvt\nLtd from

ORIENTAL CHARITABLE FOUNDATION,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2017-18

14 of his order. The assessee further states that it has restricted its claim of application of income to the gross income for the relevant period in its computation of taxable income relating to the previous year ended at 31.03.2017 and not taken benefit of carry forward of loss in relation to the total application of Rs.9

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

In the result, the appeal of the Revenue is allowed and the Cross Objection filed by the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

14. It is imperative upon us to take note of this provision, the relevant part reads as under:- “Expenditure on scientific research 35. (1) In respect of expenditure on scientific research, the following deductions shall be allowed- (i).................. (ii) [an amount equal to [one and three-fourth] times of any sum paid] to a [research association] which

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

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

ii) of section 28 is restrictive in its scope as far as taxation of compensation is concerned ; a large segment of compensation receipts in connection with business and employment is out of the purview of taxation leading to base erosion and revenue loss. Therefore, it is proposed to amend section 28 of the Act to provide that any compensation received

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

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

ii) of section 28 is restrictive in its scope as far as taxation of compensation is concerned ; a large segment of compensation receipts in connection with business and employment is out of the purview of taxation leading to base erosion and revenue loss. Therefore, it is proposed to amend section 28 of the Act to provide that any compensation received

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

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

ii) of section 28 is restrictive in its scope as far as taxation of compensation is concerned ; a large segment of compensation receipts in connection with business and employment is out of the purview of taxation leading to base erosion and revenue loss. Therefore, it is proposed to amend section 28 of the Act to provide that any compensation received

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

14. It is imperative upon us to take note of this provision, the relevant part reads as under:- “Expenditure on scientific research 35. (1) In respect of expenditure on scientific research, the following deductions shall be allowed- (i).................. (ii) [an amount equal to [one and three-fourth] times of any sum paid] to a [research association] which

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

14. It is imperative upon us to take note of this provision, the relevant part reads as under:- “Expenditure on scientific research 35. (1) In respect of expenditure on scientific research, the following deductions shall be allowed- (i).................. (ii) [an amount equal to [one and three-fourth] times of any sum paid] to a [research association] which

M/S H.K.DUTTA & CO.,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

14. It is imperative upon us to take note of this provision, the relevant part reads as under:- “Expenditure on scientific research 35. (1) In respect of expenditure on scientific research, the following deductions shall be allowed- (i).................. (ii) [an amount equal to [one and three-fourth] times of any sum paid] to a [research association] which