BANI BROTO BANERJEE ,KOLKATA vs. CIT(A), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 520/Kol/2023 Assessment Year: 2014-2015 Bani Broto Banerjee,…………………..…………Appellant Sanskriti, Flat – 3A, 148, Rashbehari Avenue, Near Deshapriya Park, Kolkata-700029 [Pan:Abppb0424P] -Vs.- Commissioner Of Income Tax (Appeals),……Respondent Aayakar Bhawan Dakshin, 2, Gariahat Road (South), Kolkata-700031 Appearances By: Shri Akshay Ringasia, C.A., Appeared On Behalf Of The Assessee Smt. Ranu Bisws, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : September 24, 2024 Date Of Pronouncing The Order : November 18, 2024 O R D E R

104 rendered in the case of ACIT -vs.- C. Ramabrahmam. In this judgment, we find that Tribunal has discussed an identical issue and recorded the following finding:- “8. We have considered submissions of both parties at length and also perused the relevant findings of the Assessing Officer as well as CIT(A). Regarding the issue of capital gains, it transpires

WHITEPIN TIE-UP LTD.,HOWRAH vs. ITO, WD-1(4), KOLKATA, KOLKATA

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

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2011-12

104/- income Exempt Long Term 4,51,20,300 85.90 57,54,412/- Capital Gain Total exempt 5,25,30,851 100 66,99,516/- The assessee also submitted that expenses in relation to long term capital gain were claimed as per the provisions of section

D.C.I.T.CC - XXVIII,KOL., KOLKATA vs. M/S BINANI INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

104 (Bom.) In all these cases, the Courts were dealing with the issue of inclusion of Capital gains in the computation of "Book Profits", but such capital gains were otherwise chargeable to capital gain tax u/s 45 of the Act under the normal provisions of the Act. However, here is the case that the profits and gains arising on transfer

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

gains of business. Relevant extract from the judgement reported in 147 taxmann.com 285 is as under: “Learned senior advocate appearing on behalf of the respondent-assessee states that in view of the amendment vide the Finance Act, 2022 with retrospective effect from 1-4-2005 to section 40(a)(ii) of the Income-tax Act, 1961, the present appeal

SRI KANCHAN KAMAL MUKHOPADHYAY,KOLKATA vs. ITO, WD-20(2), KOLKATA, KOLKATA

In the result both the appeals of the assessee are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A Nos. 587 & 588/Kol/2014 Assessment Year : 2008-09 Shri Kanchan Kamal Mukhopadhyay -Vs.- I.T.O., Ward-20(2) Kolkata Kolkata. [Pan : Aanpm 2997 B] (Respondent) (Appellant) For The Appellant : Shri Rip Das, Fca For The Respondent : None Date Of Hearing : 10.07.2017. Date Of Pronouncement : 14.07.2017. Order Per N.V.Vasudevan, Jm

104. The TDS certificate based on which credit for TDS was claimed was issued by State Bank of India Sales Tax Building (Munshibazar)branch in respect of payment of income of Rs.39,832/- to the assessee. This sum of Rs.39,832/- had not been offered to tax by the assessee in the return of income filed earlier and therefore

DCIT, CIR-33, KOLKATA, KOLKATA vs. M/S ESTATE OF LATE LAI YUN HSIANG LIU, AOP, KOLKATA

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

capital gain amounting to Rs.4,46,87,346/- [Rs.9,39,46,450 – Rs.4,92,59,104] was added to the total income of the assessee. 4. Aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the ld. CIT(A) who has deleted the addition made by AO.Theld CIT(A) noted that there was no income

SHALINI AGARWAL,KOLKATA vs. ITO, WARD-45(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed as indicated above

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

capital gains of Rs.77,94,104/- for A.Y. 2015-16 by initiating the proceedings under 4 A.Y. 2013-2014 Shalini Agarwal section

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

104) the CBDT has taken a contradictory approach while dealing with the charge of FBT with regard to the aforesaid expenses. The CBDT has clarified that these allowances fall within the meaning of 'salary' as defined in clause (1) of section 17 of the Income-tax Act (though not taxable because of specific exemption) and, any expenditure incurred

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

104) the CBDT has taken a contradictory approach while dealing with the charge of FBT with regard to the aforesaid expenses. The CBDT has clarified that these allowances fall within the meaning of 'salary' as defined in clause (1) of section 17 of the Income-tax Act (though not taxable because of specific exemption) and, any expenditure incurred

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

104) the CBDT has taken a contradictory approach while dealing with the charge of FBT with regard to the aforesaid expenses. The CBDT has clarified that these allowances fall within the meaning of 'salary' as defined in clause (1) of section 17 of the Income-tax Act (though not taxable because of specific exemption) and, any expenditure incurred

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

104) the CBDT has taken a contradictory approach while dealing with the charge of FBT with regard to the aforesaid expenses. The CBDT has clarified that these allowances fall within the meaning of 'salary' as defined in clause (1) of section 17 of the Income-tax Act (though not taxable because of specific exemption) and, any expenditure incurred

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

104) the CBDT has taken a contradictory approach while dealing with the charge of FBT with regard to the aforesaid expenses. The CBDT has clarified that these allowances fall within the meaning of 'salary' as defined in clause (1) of section 17 of the Income-tax Act (though not taxable because of specific exemption) and, any expenditure incurred

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77,94,104

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77,94,104

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77,94,104

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77,94,104

D.C.I.T., CIRCLE-10, KOLKATA, KOLKATA vs. M/S RAMUK SCAN INVESTMENT PVT.LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

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

sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee) laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head “profits and gains of business or profession”. We find that this issue is directly addressed

DEPUTY COMMISSOENR OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

gain, etc. Accordingly, the assessee was called upon to furnish the details which were furnished by the assessee by submitting that the ITA Nos.1728 & 1729/KOL/2024 Dollar Holding Pvt. Ltd; A.Y. 15-16 and 17-18 amalgamating company as on the date of merger had investments amounting to ₹93,01,00,000/- which was acquired by the assessee company pursuant