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

12. According to the assessee, it was after considering the facts, claims and supporting documents that the AO passed the order, hence it cannot be said that order is erroneous on want of enquiry. The AO has rightly treated such capital gains on long term capital asset only. The asset was acquired in 1998 and gifted to the assessee

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

12. Per contra, ld. D.R. supported the order of authorities below. 13. We have heard the rival submissions, perused the material available on record and seen the computation of capital gains under section

RITA GUPTA,KOLKATA vs. DCIT, CEN. CIR.2(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

capital gain accruing on transfer of listed securities on payment of STT is granted under Section 10(38) of the Act. The said provision is part of Chapter III of the Income-tax Act, 1961 which bears the title 'Income which do not form part of the total income'. If one carefully analyzes various sub-sections of Section 10 then

RUSSEL CREDIT LIMITED,KOLKATA vs. PCIT, KOL, KOLKATA

The appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Sanjay Awasthiassessment Year: 2018-19

section was passed on 27.02.2023, setting aside the order u/s 143(3) of the Act dated 08.03.2021 on the following grounds: (a) Treatment of gain from transfer of 34 unquoted preference shares of ICICI Bank Ltd as long-term capital gain (hereafter ‘LTCG’) of Rs. 12

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

RAMAUTAR SARAF (HUF),KOLKATA vs. ITO, WARD 59(3),, KOLKATA

In the result, the appeal of the assessee is allowed

capital gains\nmade by him for the purpose of purchasing and/or acquiring the aforesaid assets.\nWe find therefore that on this ground also, the assessee is liable to succeed. The\nappeals are, accordingly, allowed and the judgment of the High Court is set\naside.'\n12. In view of the interpretation given to the word \"utilized\" used in section

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

section 54F of the Income Tax Act,\n1961 and had claimed before the Hon'ble CIT(A) in writing during the first\nappellate proceedings that his taxable capital gains was for Rs.44,63,518 only.\nSale proceeds of 3.55 Acres of land\nRs.4,17,00,000/-\nLess: Cost of acquisition of 2.81\nAcres of land in the hand

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

In the result, the appeal of the assessee is allowed

gains from transfer of any long-term capital not\nbeing a residential house could claim benefit under the said Section provided, any one of\nthe following three conditions were satisfied; (i) the assessee had within a period of one\nyear before the sale, purchased a residential house; (ii) within two years after the date of\ntransfer of the original capital

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

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

12,857/- adjustment of interest (refer para 2 above) Long Term Capital Gains 9,91,00,694/- 3 Bani Broto Banerjee 5. Dissatisfied with this working, the assessee carried the matter in appeal before the ld. CIT(Appeals). The ld. CIT(Appeals) has accepted the contention of the assessee with regard to admissibility of expenditure incurred for furniture and fixtures

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

section 11 treats revenue and capital receipts differently. Since the computation of income of the trust is to be done as per the commercial principles, therefore, applying the commercial principles, if the capital receipt is no longer continuing as capital receipt because of the violation of the conditions, then it is liable to be included as a revenue receipt. 12

SKYBRIDGE REAL ESTATES LLP,KOLKATA vs. D.C.I.T., CIRCLE - 34, KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Skybridge Real Estates Llp Dcit, Circle -34, 24, Hemant Basu Sarani, Aaykar Bhavan Poorva, 110, Mangalam-A, 5Th Floor, Room Shanti Pally, E.M. Bypass, Vs. No.507, Kolkata-700001, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Acvfs7139R Assessee By : Shri N.S. Saini, Ar Revenue By : Ms. Ruchika Sharma, Dr Date Of Hearing: 21.11.2024 Date Of Pronouncement : 02.12.2024

12,62,661/- as business income by reducing the same from the capital gain. Similarly, the Long-Term Capital Gain of ₹1,47,27,000/- which the assessee has claimed as exempt, rejected and treated as business income of the assessee in the assessment framed u/s 143(3) read with section

MINAKSHI DAS,JALPAIGURI vs. I.T.O., WARD - 1(3),, SILIGURI

CAPITAL GAIN\nSale of Items as per list enclosed\n45,45,100\nLess: (cost of acquisition etc.)\n(-) 1741068\nIndexed Cost of Acquisition\n2804032\nINCOMEFROM OTHER SOURCE\nINCOME FROMINTEREST\nInterest from Saving Bank A/c\nS/B Int.\n63565\nInterest on F.d. with banks\nF.D Int\n15885.\nINCOME FROMOTHERS\nLIC commission\n79,450\n85370\n85,370\nGROSS TOTAL INCOME\nLess:- Deduction under

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

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

capital gains tax as per provisionsof Section 55 (2) (a) of the Act and erroneously proceeded on such unwarranted assumption wrongfully and illegallyattributed to the assessee's Counsel?" Let the Paper Book be filed within 8 weeks from date. Let the appeal be listed for hearing 12