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]

25 days in filing of cross objections by the assessee before us. The assessee had contested the issue of disallowance u/s 14A of the Act in its cross objections. The assessee had stated in the affidavit for condonation of delay that the assessee had come to know of the decision of the co-ordinate bench of this tribunal

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]

25 days in filing of cross objections by the assessee before us. The assessee had contested the issue of disallowance u/s 14A of the Act in its cross objections. The assessee had stated in the affidavit for condonation of delay that the assessee had come to know of the decision of the co-ordinate bench of this tribunal

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

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

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

25,53,07,990/-. Subsequently a revised return was filed by the assessee on 04.03.2016 1 Assessment Year: 2014-2015 The Peerless General Finance & Investment Company Limited declaring the same total income but claiming higher amount of Long-Term Capital Loss of Rs.109.80 crores on transfer of Government Securities. During the course of assessment proceedings, the claim of the assessee

SOUMITRA CHOUDHURY ,KOLKATA vs. ACIT, CIRCLE - 22 , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

section 10(38) of the Act in his return. The A.O. disallowed appellant's claim of Long Term Capital Gain u/s 10(38) and held it as bogus Long Term Capital Gain for Rs.70,25,200/-. The A.O. has discussed the facts of the case on Page No. 2 to 13 of his assessment order. The sale was made through

PURUSHOTTAM DAS AGARWAL ,KOLKATA vs. ITO, WARD - 35(1) , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

section 10(38) of the Act in his return. The A.O. disallowed appellant's claim of Long Term Capital Gain u/s 10(38) and held it as bogus Long Term Capital Gain for Rs.70,25,200/-. The A.O. has discussed the facts of the case on Page No. 2 to 13 of his assessment order. The sale was made through

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:

iii) of the Rules as 3 A.Yrs.2011-12 has been held by the decision of this tribunal in the case of REI Agro Ltd reported in 144 ITD 141. But we find that if the disallowance made under second limb of Rule 8D(2) of the Rules is deleted, then the disallowance made by the ld AO would remain

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:

iii) of the Rules as 3 A.Yrs.2011-12 has been held by the decision of this tribunal in the case of REI Agro Ltd reported in 144 ITD 141. But we find that if the disallowance made under second limb of Rule 8D(2) of the Rules is deleted, then the disallowance made by the ld AO would remain

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

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

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

section 80-IB(10)(a) of the Act is "shall", but it would not necessarily mean that in every case, it shall be taken to be mandatory requirement instead would depend upon the intent of the Legislature and not the language in which the provision is clothed. The meaning and the intent of the Legislature would be gathered

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

10% share in the profit/loss and the fourth company's share was 70%. The partnership business was deemed to have commenced on and from April 1, 2005. A supplemental deed of partnership was executed on March 13, 2006 between the four partners which inter alia, provided that the said firm can avail loan/credit facilities from commercial banks/financial institutions by mortgaging/charging

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

10% share in the profit/loss and the fourth company's share was 70%. The partnership business was deemed to have commenced on and from April 1, 2005. A supplemental deed of partnership was executed on March 13, 2006 between the four partners which inter alia, provided that the said firm can avail loan/credit facilities from commercial banks/financial institutions by mortgaging/charging

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Eih Ltd V/S. Dcit, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [Pan No.Aaace 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date Of Hearing 16-05-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Dispute Resolution Panel-2, (Drp For Short) Dated 17.10.2016. Assessment Was Framed By Dcit, Circle-8(1), Kolkata U/S 144C(13)/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.11.2016 For Assessment Year 2012-13 & Grounds Raised By Assessee Read As Under:- “1.0 Determination Of Arm'S Length Price For Corporate Guarantee Fees 1.1 On The Facts & In The Circumstances Of The Case & In Law, The Learned Transfer Pricing Officer (Hereinafter Referred To As "Ld, Tpo") & Accordingly Learned Assessing Officer (Hereinafter Referred To As "Ld. Ao") Erred In Treating The Corporate Guarantee Extended By The Appellant To Its Associated Enterprise (Ae) As International Transaction & Dispute Resolution Panel (Hereinafter Referred To As "Ld, Panel") Erred In Confirming The Same As An International Transaction Without Appreciating The Fact That It Does Not Fall Within The Ambit Of "International Transaction" U/S 92B Of The Act. 1.2 The Ld.Ao/Tpo & The Ld. Panel Failed To Appreciate The Fact That Corporate Guarantee Has Been Advanced By The Appellant As A Matter Of Commercial Prudence To Protect The Business Interest Of The Group By Fulfilling

gain for all other provisions and is eligible for set off u/s 74 against brought forward loss from long term capital asset. 6.3 On the facts and in the circumstances of the case & in law, the Ld. Panel while confirming the action of Ld. AO grossly erred in not applying the ratio decidendi laid down in the decision

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S COMMAND CONSTRUCTIONS PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 571/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Command Constructions Private Ltd. [Pan: Aaccc5075A ] (Appellant) (Respondent)

10% share in the profit/loss and the fourth company's share was 70%. The partnership business was deemed to have commenced on and from April 1, 2005. A supplemental deed of partnership was executed on March 13, 2006 between the four partners which inter alia, provided that the said firm can avail loan/credit facilities from commercial banks/financial institutions by mortgaging/charging

INCOME TAX OFFICER-WARD-23(3), KOLKATA, KOLKATA vs. SUDIP ROY, KOLKATA

In the result, Revenue’s appeal is allowed partly

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2007-08

25 lakh in the bonds to claim deduction u/s 54EC of the Act from the income of LTCG. However, AO disagreed with the working of LTCG of the assessee as detailed below:- Appellant’s 1/8th undivided Particulars AO’ observation share (Rs) Sale price (gross consideration) 8137500.00 8137500.00 Brokerage and commission 182,671.00 182,671.00 Net sale price (net consideration

ACIT, CIRCLE - 7, KOLKATA, KOLKATA vs. C.D. EQUIFINANCE PVT. LTD., KOLKATA

In the result, all the appeals filed by the Revenue are dismissed, while the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

section 143(3), an appeal was preferred by the assessee before the ld. CIT(Appeals) disputing, inter alia, the treatment given by the Assessing Officer to the profit of Rs.3,67,36,507/- from the transactions of purchase and sale of shares as business income instead of short-term capital gain. During the course of appellate proceedings, elaborate submissions were

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

iii) Hon’ble ITAT ‘A’ Bench Kolkata in the case of Surya Prakash Toshniwal (HUF) Ward 41(3) Kolkata. The above judgement is squarely effaceable in the present case of your appellant. (13) Ld I.T O. has erred in law as well as in fact in addition a sum of Rs. 34,695/- for unexplained expenditure towards commission changed

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

iii) Hon’ble ITAT ‘A’ Bench Kolkata in the case of Surya Prakash Toshniwal (HUF) Ward 41(3) Kolkata. The above judgement is squarely effaceable in the present case of your appellant. (13) Ld I.T O. has erred in law as well as in fact in addition a sum of Rs. 34,695/- for unexplained expenditure towards commission changed

INFINITY INFOTECH PARKS LTD.,KOLKATA vs. PCIT-1, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Shri Rajesh Kumar, Am ]

iii) income from property; (iv) profits and gains of business, profession or vocation; (v) income from other sources; and (vi) capital gains. The scheme of the Act is that income-tax is one tax. Section 6 only classifies the taxable income under different heads for the purpose of computation of the net income of the assessee. Though for the purpose

SRI GOVINDDEO EDUCATIONAL INSTITUTE ,KOLKATA vs. ITO(EXEMPTION) WARD-1(3) , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sonjoy Sarma (Judicial Member), Shri Sanjay Awasthi (Accountant Member)

25,00,000/- 2 I.T.A. No. 718/Kol/2024 Sri Govinddeo Educational Institute b. Expenses for running Rs. 8,50,874/- school c. Service Charges Rs. 67,416/- d. Misc. Expenses Rs. 2,411/- e. Auditor Rs. 6,742/- Remuneration Total Rs. 34,27,443/- 5. The Ld. AO during the assessment proceedings observed that out of two schools situated in Village