THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

gains of business” in section 80P (2) of the Income-tax Act, 1961, emphasise that the income in respect of which deduction is sought by a cooperative society must constitute the operational income and not the other income which accrues to Page 18 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

gains of business” in section 80P (2) of the Income-tax Act, 1961, emphasise that the income in respect of which deduction is sought by a cooperative society must constitute the operational income and not the other income which accrues to Page 18 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. I.T.O., WARD - 1(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO, WARD 1(3), EXEMPTION , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO,WARD-1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

e) the revalued cost of acquisition should be ignored for capital gains purpose. Further a show cause notice dated 14-01-2019 [Notice No CIT(A)-20/Kol/AABCE4623R/2018-19/861] was served asking him to furnish various details along with documents. Vide the said notice the undersigned also asked the assessee to explain as to why entire exercise related to revaluation

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

e) the revalued cost of acquisition should be ignored for capital gains purpose. Further a show cause notice dated 14-01-2019 [Notice No CIT(A)-20/Kol/AABCE4623R/2018-19/861] was served asking him to furnish various details along with documents. Vide the said notice the undersigned also asked the assessee to explain as to why entire exercise related to revaluation

THE INSTITUTE OF INDIAN FOUNDRYMEN. ,KOLKATA vs. ITO, WARD-1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

THE INSTITUTE OF INDIAN FOUNDRYMEN ,KOLKATA vs. ITO, WARD- 1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

THE INSTITUTE OF INDIA FOUNDRYMEN,KOLKATA vs. ITO, WARD-1(3),EXEMPT, KOLKATA., KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

e) were merely powers incidental to the carrying out of that dominant and primary purpose; (ii) That the dominant or primary purpose of the promotion of commerce and trade in art silk, etc., was an object of public utility not involving the carrying on of any activity for profit within the meaning of s.2(15) and that the assessee

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]

22 I.T.A. No.312/Kol/2024 Assessment Year: 2017-18 Mega Engineers & Builders 11. This legal dichotomy emerging from the provisions of sub-section (2) of Section 115JB particularly having regard to the first proviso contained therein in case of a banking company, would convince us that machinery provision provided in sub-section (2) of section l15JB of the Act, would be rendered

RAM NIRANJAN BANKA,KOLKATA vs. A.C.I.T., CIRCLE - 40,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Ram Niranjan Banka Acit, Circle-40 1, Surti Bagan Street, Jorasanko, 3, Govt. Place (West), Vs. Kolkata-700073, West Bengal Kolkata-700001, West Bengal (Respondent) (Appellant) Pan No. Aedpb5273P Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 14.08.2025 Date Of Pronouncement: 21.11.2025

E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 26.02.2025 for the AY 2014-15. The ground No. 1 is general in nature and does not require any 2. adjudication. The issue raised in ground

SWETA SONTHALIA,KOLKATA vs. ITO, WARD 7(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Capital gains - Not to be charged on investment in certain bonds (2015 Amendment) - Assessment year 2009-10 - Whether amendment to section 54EC brought with effect from 1-4-2015 restricting investment in assets from sale consideration on sale of original asset to Rs. 50 lakhs is prospective in nature, thus; prior to assessment year 2015-16, it was possible

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

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

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. 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