DCIT, CIR-3(1), KOLKATA, KOLKATA vs. M/S TATA METALIKS LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

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

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause (2) of Part

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause (2) of Part

M/S TATA METALIKS LTD.,KOLKATA vs. DCIT, CIR-3(1), KOLKATA, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause (2) of Part

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

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

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause (2) of Part

TATA METALIKS LIMITED,KOLKATA vs. DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA

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

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause (2) of Part

SPLENDOUR VILLA MAKERS PVT. LTD. ,KOLKATA vs. ACIT,CIR-12(2),KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 734/Kol/2023 Assessment Year: 2015-2016 Splendour Villa Makers Pvt. Ltd.,……………Appellant Flat-4D, Lansdown Heights, 6, Sarat Bose Road, Bhowanipur, Kolkata-700020 [Pan:Aahcs9726M] -Vs.- Assistant Commissioner Of Income Tax,..…Respondent Circle-12(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Miraj D. Shah, A.R., Appeared On Behalf Of The Assessee Shri B.K. Singh, Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : June 05, 2024 Date Of Pronouncing The Order : July 25, 2024 O R D E R

sections 143(2) and 142(1) were issued and served upon the assessee. On scrutiny of the accounts, it revealed to the ld. Assessing Officer that the assessee has sold flats No.1402B and 1402C. It did not credit its profit & loss account by the gain from the sale of capital asset (flats). The ld. Assessing Officer confronted the assessee

THE UNITED PROVINCES SUGAR COMPANY LTD., ,KOLKATA vs. ITO, WARD - 12(2), KOLKATA

In the result, appeal of the assessee is allowed

gains, taxable u/s 45 of the Act and realisation of capital due to improvement of capital asset by way of external realisation of capital due to improvement of capital asset by way of external realisation of capital due to improvement of capital asset by way of external development over a long period of time. r a long period of time

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

gain on marked-to- market forex loss in AY 2009-10. It is also stated that Marked-to-market foreign exchange loss is an ‘expenditure' allowable as deduction under section 37 of the Act and Marked-to-market loss is not notional or contingent in nature, but 'crystallized loss'allowable as deduction under section 37 of the Act in view

A.C.I.T.,CIRCLE-2(1), KOLKATA vs. M/S INDIA POWER CORPORATION LTD., KOLKATA

In the result, the appeal of revenue stands dismissed and the Cross Objection of assessee are partly allowed

Bench: Shri A. T. Varkey, Hon’Ble & Dr. M. L. Meena, Hon’Ble]

capital gains for the purposes of computing book profits under section 115J of the Act. Further, under clause 2 of Part

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

gain on marked-to-\nmarket forex loss in AY 2009-10. It is also stated that Marked-to-market\nforeign exchange loss is an ‘expenditure' allowable as deduction under\nsection 37 of the Act and Marked-to-market loss is not notional or\ncontingent in nature, but 'crystallized loss'allowable as deduction\nunder section 37 of the Act in view

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

gain on marked-to-\nmarket forex loss in AY 2009-10. It is also stated that Marked-to-market\nforeign exchange loss is an ‘expenditure' allowable as deduction under\nsection 37 of the Act and Marked-to-market loss is not notional or\ncontingent in nature, but 'crystallized loss'allowable as deduction\nunder section 37 of the Act in view

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

gain on marked-to-\nmarket forex loss in AY 2009-10. It is also stated that Marked-to-market\nforeign exchange loss is an ‘expenditure' allowable as deduction under\nsection 37 of the Act and Marked-to-market loss is not notional or\ncontingent in nature, but 'crystallized loss'allowable as deduction\nunder section 37 of the Act in view

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

gain on marked-to-\nmarket forex loss in AY 2009-10. It is also stated that Marked-to-market\nforeign exchange loss is an ‘expenditure' allowable as deduction under\nsection 37 of the Act and Marked-to-market loss is not notional or\ncontingent in nature, but 'crystallized loss'allowable as deduction\nunder section 37 of the Act in view

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

gain on marked-to-\nmarket forex loss in AY 2009-10. It is also stated that Marked-to-market\nforeign exchange loss is an ‘expenditure' allowable as deduction under\nsection 37 of the Act and Marked-to-market loss is not notional or\ncontingent in nature, but 'crystallized loss'allowable as deduction\nunder section 37 of the Act in view

DCIT, CIRCLE - 1, KOLKATA, KOLKATA vs. M/S. GLOSTER JUTE MILLS LIMITED, KOLKATA

In the result, appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No.95/Kol/2011 Assessment Year : 2007-08

gain on sale of depreciable asset exempt u/s 50 cannot be taxed as income under the provisions of section 115JA. The appellant has also placed reliance on the decision of Suraj Jewellary 21 SOT 79 (Mum.) wherein it was held that even where for computing MAT profit u/s 115JB of the Act, the business profit shown in the Profit

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

LUXMI TEA CO. LTD.,KOLKATA vs. PCIT, CEN-2, KOLKATA, KOLKATA

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] I.T.A No. 731/Kol/2015 Assessment Year : 2010-11 Luxmi Co. Ltd. -Vs.- C.I.T., Central-2 Kolkata Kolkata [Pan : Aaact 8466 A] (Respondent) (Appellant) For The Appellant : Shri Soumitra Chowdhury, Advocate For The Respondent : Shri Niraj Kumar, Cit Date Of Hearing : 25.01.2017. Date Of Pronouncement : 03.02.2017. Order

Capital gains 1,95,54,032 Income tax on other Business Income @30% 1,13,99,547 22,79,909 81,54,486 24,46,346 Add:Surcharge @ 10% 47,26,255 4,72,625 Add: Education Cess @ 3% 51,98,880 Total Income tax payable 1,55,966 Less : tax Deducted at source 53,54,847 Advance Income

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

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

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