MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

gains attributable to revaluation of the asset is not subject to MAT liability. It is, therefore, proposed to amend section 115JB to provide that the book profit for the purpose of section 115JB shall be increased by the amount standing in the revaluation reserve relating to the revalued asset which has been retired or disposed, if the same

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, the appeal of the Revenue is dismissed

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

gains attributable to revaluation of the asset is not subject to MAT liability. It is, therefore, proposed to amend section 115JB to provide that the book profit for the purpose of section 115JB shall be increased by the amount standing in the revaluation reserve relating to the 14 Assessment Year: 2010-2011 M/s. UCO Bank revalued asset which has been

ACIT(E), CIR -1, KOLKATA, KOLKATA vs. WEST BENGAL TRANSPORT WORKERS SOCIAL SECURITY SCHEME, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviacit(E), Vs West Bengal Transport Workers Circle-1, 5Th Floor, Social Security Scheme, 10B, Middleton Row, 6, Church Lane, 4Th Floor, Kolkata-700071. Kolkata-700001. Pan-Aaalw0133G (Appellant) (Respondent) Appellant By Sh. Sankar Halder, Addl. Cit, Sr.Dr Respondent By Sh.S.M.Surana, Advocate Date Of Hearing 29.11.2018 Date Of Pronouncement 26.02.2019 Order Per S.S. Viswanethra Ravithis Appeal Filed By The Revenue Against The Order Dated 26.04.2016 Passed By Cit(A)-25, Kolkata For Ay 2011-12 Of The Income Tax Act, 1961 (In Short “Act”).

10b, Middleton Row, 6, Church Lane, 4th Floor, Kolkata-700071. Kolkata-700001. PAN-AAALW0133G (Appellant) (Respondent) Appellant by Sh. Sankar Halder, Addl. CIT, Sr.DR Respondent by Sh.S.M.Surana, Advocate Date of Hearing 29.11.2018 Date of Pronouncement 26.02.2019 ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER This appeal filed by the Revenue against the order dated 26.04.2016 passed by CIT(A)-25, Kolkata

HINDUSTAN GUM & CHEMICALS LTD.,KOLKATA vs. THE DCIT, CIR-12, KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

iii) of Form 3CD. In response the assessee replied that it had procured LDO/FO/LPG etc as consumables at concessional rate on the strength of Form No. 26 and 40 prescribed under Sales Tax Act. However, the sales tax authorities held that it is neither raw material nor processing material and consumables and raised a demand of Rs. 7.16 lacs which

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S HINDUSTAN GUMS & CHEMICAL LTD., KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

iii) of Form 3CD. In response the assessee replied that it had procured LDO/FO/LPG etc as consumables at concessional rate on the strength of Form No. 26 and 40 prescribed under Sales Tax Act. However, the sales tax authorities held that it is neither raw material nor processing material and consumables and raised a demand of Rs. 7.16 lacs which

DCIT, CIRCLE-12(1), KOLKATA, KOLKATA vs. M/S HINDUSTHAN GUM & CHEMICALS 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 M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1410/Kol/2016 Assessment Year : 2010-11 Hindustan Gum & Chemicals Ltd. -Vs- Dcit, Circle-12(1), Kolkata [Pan: Aaach 7214 E] (Appellant) (Respondent) I.T.A No. 1601 /Kol/2016 Assessment Year : 2010-11 Dcit, Circle-12(1), Kolkata -Vs- Hindustan Gum & Chemicals Ltd. [Pan: Aaach 7214 E] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Advocate Shri Vinod Sharma, Ca For The Respondent : Shri Sallong Yaden, Addl. Cit

section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 11.03.2014 for the Assessment Years 2010-11. Hindustan Gum & Chemicals Ltd. A.Yr. 2010-11 2. Disallowance u/s 14A read with Rule 8D of the Rules: Ground No.1 of assessment year 2010-11 Ground No. 3 of assessment year 2010-11 The brief facts of this issue

HINDUSTAN GUM & CHEMICALS LTD.,KOLKATA vs. THE DCIT, CIR-12(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 M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1410/Kol/2016 Assessment Year : 2010-11 Hindustan Gum & Chemicals Ltd. -Vs- Dcit, Circle-12(1), Kolkata [Pan: Aaach 7214 E] (Appellant) (Respondent) I.T.A No. 1601 /Kol/2016 Assessment Year : 2010-11 Dcit, Circle-12(1), Kolkata -Vs- Hindustan Gum & Chemicals Ltd. [Pan: Aaach 7214 E] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Advocate Shri Vinod Sharma, Ca For The Respondent : Shri Sallong Yaden, Addl. Cit

section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 11.03.2014 for the Assessment Years 2010-11. Hindustan Gum & Chemicals Ltd. A.Yr. 2010-11 2. Disallowance u/s 14A read with Rule 8D of the Rules: Ground No.1 of assessment year 2010-11 Ground No. 3 of assessment year 2010-11 The brief facts of this issue

ACIT, CIRCLE-33, KOLKATA, KOLKATA vs. CENTRAL BANK OF INDIA EMPLOYEES COOPERATIVE SOCIETY LIMITED, KOLKATA

Appeal is allowed for statistical purposes in above terms

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:1014-15

10B, Middleton Row, Employees Co-operative V/s. 3rd Floor, Kolkata-71 Society Ltd., 10 Nellie Sengupta Sarani, Kolkata-700087 [PAN No.AAAAC 3869 N] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Rabin Chaudhury, Addl. CIT-SR-DR अपीलाथ" क" ओर से/By Appellant Shri Sanjay Bhattacharya, FCA ""यथ" क" ओर से/By Respondent Shri G. Banerjee, FCA 01-11-2018 सुनवाई क" तार

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

gain, and viii. Other incomes not pertaining to the operations Similarly, the following expenses which are non-operating and provisions are excluded from operating expenses: i. Provisions other than provisions for bad debts ii. Loss on sale of assets/investments iii. Loss on revaluation of assets iv. Foreign exchange loss v. Other expenses not pertaining to the operations. Similarly, extra ordinary

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

gain, and viii. Other incomes not pertaining to the operations Similarly, the following expenses which are non-operating and provisions are excluded from operating expenses: i. Provisions other than provisions for bad debts ii. Loss on sale of assets/investments iii. Loss on revaluation of assets iv. Foreign exchange loss v. Other expenses not pertaining to the operations. Similarly, extra ordinary

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

iii) The adjusted price arrived at under sub-clause (ii) is taken to be an arm's length price in respect of the property transferred or services provided in the international transaction [or the specified domestic transaction] ;" 7 AT&S India Pvt. Ltd. Assessment Year: 2013-14 The term 'comparable uncontrolled transaction' has not been defined

ITO, WARD - 7(2), KOLKATA, KOLKATA vs. M/S. WIZARD ENTERPRISES PVT. LTD., KOLKATA

In the result, the appeals of the revenue are dismissed and cross objections of the assessee are allowed as stated above

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

capital goods. The assessee has furnished the Registration under the Software Technology Park Scheme of India vide approval No. STPIM/PCMG/PSE/02/199-7492 dated 17.2.2003 registering the assessee as an 100% EOU. The copy of the said certificate is enclosed at pages 105 to 109 of the paper book alongwith the copy of the agreement entered into by the assessee company with STPI

DIPSC LIMITED,KOLKATA vs. D.C.I T CIR - VI,KOLKATA, KOLKATA

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

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2007-08

gains attributable to revaluation of the asset is not subject to MAT liability. It is, therefore, proposed to amend section 115JB to provide that the book profit for the purpose of section 115JB shall be increased by the amount standing in the revaluation reserve relating to the revalued asset which has been retired or disposed, if the same

ACIT, CIRCLE-32, KOLKATA, KOLKATA vs. MRS. ISHITA MOHATTA, KOLKATA

In the result the Cross Objection, No

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Acit, Cir-32, Kolkata Vs. Mrs. Ishita Mohatta 10B, Middleton Row, 3Rd Floor, Kolkata – 24, Park Street, Magma House, 9Th Floor, Kolkata – 700 071. 700 016. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) .. & Co No.45/Kol/2018 (Assessment Year: 2013-14) Vs. Acit, Cir-32, Kolkata Mrs. Ishita Mohatta 24, Park Street, Magma House, 9Th 10B, Middleton Row, 3Rd Floor, Floor, Kolkata – 700 016. Kolkata – 700 071. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

10B, Middleton Row, 3rd Floor, Floor, Kolkata – 700 016. Kolkata – 700 071. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AJFPK 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) .. Assessee by : Shri Kapil Mondal, JCIT, Sr. DR Respondent by : Shri S. Jhajharia, AR सुनवाई क" तार"ख / Date of Hearing : 19/09/2018 घोषणा क" तार"ख/Date of Pronouncement: 28/11/2018 आदेश

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. I M C LTD, KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

capital gain income in the revised return of income which is within the provisions of the law. As such the AO has not brought any defect in the books of accounts and in the revised return. The assessee has been showing investments in the audited financial statements. The ld. DR has also not brought anything on record to controvert

M/S. IMC LTD.,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

capital gain income in the revised return of income which is within the provisions of the law. As such the AO has not brought any defect in the books of accounts and in the revised return. The assessee has been showing investments in the audited financial statements. The ld. DR has also not brought anything on record to controvert

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. IMC LTD., KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

capital gain income in the revised return of income which is within the provisions of the law. As such the AO has not brought any defect in the books of accounts and in the revised return. The assessee has been showing investments in the audited financial statements. The ld. DR has also not brought anything on record to controvert

I.T.O WD - 7(2),KOLKATA., KOLKATA vs. M/S WIZARD ENTERPRISES PVT LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: : Shri S.S Viswanethra Ravi

capital goods. The assessee has furnished the Registration under the Software Technology Park Scheme of India vide approval No. STPIM/PCMG/PSE/02/199-7492 dated 17.2.2003 registering the assessee as an 100% EOU. The copy of the said certificate is enclosed at pages 105 to 109 of the paper book alongwith the copy of the agreement entered into by the assessee company with STPI

LIMTEX INFOTECH LTD.,,KOLKATA vs. ITO, WARD - 7(4), KOLKATA , KOLKATA

In the result, the appeals of the revenue are dismissed and cross objections of the assessee are allowed as stated above

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1368/Kol/2017 Assessment Year : 2010-11 Limtex Infotech Ltd. -Vs- Ito, Ward-7(4), Kolkata. [Pan: Aabcl 0088 R] (Appellant) (Respondent)

capital goods. The assessee has furnished the Registration under the Software Technology Park Scheme of India vide approval No. STPIM/PCMG/PSE/02/199-7492 dated 17.2.2003 registering the assessee as an 100% EOU. The copy of the said certificate is enclosed at pages 105 to 109 of the paper book alongwith the copy of the agreement entered into by the assessee company with STPI