SMT SAKI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

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

2(47)(v) of the Act. The Commissioner then read Section 45 of the Act to imply that capital gains

KB CAPITAL MARKETS (P) LTD.,KOLKATA vs. D.C.I,.T CIR - 6 , KOLKATA., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

47,217/-. The income earned from investments and short term capital gains (against which no expenses have been shown) is almost 5 times from the business income against which all the establishment and other expenses have been claimed. The appellant has not claimed any expenditure even on short term capital gain which would have reduced income chargeable at the rate

DCIT CIR - 6,KOLKATA., KOLKATA vs. M/S K.B. CAPITAL MARKETS LTD., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

47,217/-. The income earned from investments and short term capital gains (against which no expenses have been shown) is almost 5 times from the business income against which all the establishment and other expenses have been claimed. The appellant has not claimed any expenditure even on short term capital gain which would have reduced income chargeable at the rate

ABC INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE 11(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Abc India Limited Dcit, Circle 11(1) 40/8, Ballygunj, Circular Road, Aayakar Bhawan, Chowringhee Kolkata, West Bengal-700019 Square, Kolkata-700069 Vs. West Bengal (Appellant) (Respondent) Pan No. Aacca2035J Assessee By : Shri S.K. Pransukhka, Ar Revenue By : Shri Sanjib Kumar Paul, Dr Date Of Hearing: 16.02.2026 Date Of Pronouncement: 15.04.2026

capital gain in accordance with the definition of proviso u/s 2(47)(i) & (ii) of the Act. Since, the assessee company was a member of the cooperative society and possession was given for the exclusive enjoyment of the property and consideration was also received which transaction was covered in the provision of Section

THE PEERLESS GEN. FIN. & INV. CO. LTD.,KOLKATA vs. DCIT, CIRCLE-3(1), KOLKATA, KOLKATA

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

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

47) of the Act and computed long term capital loss on transfer of the said rights at Rs.36,60,000/- in AY 2015-16. The said investment being a capital asset and disclosed as such in the audited accounts of the company was duly disclosed before the department in AY 2012-13, 2013-14 and 2014-15 and assessments

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

section 45(2) by adopting a Fair Market Value of the land as per report from the DVO. The Assessing Officer computed the Long Term Capital Gains at Rs. 4,31,47

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

section 45(2) by adopting a Fair Market Value of the land as per report from the DVO. The Assessing Officer computed the Long Term Capital Gains at Rs. 4,31,47

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

section 45(2) by adopting a Fair Market Value of the land as per report from the DVO. The Assessing Officer computed the Long Term Capital Gains at Rs. 4,31,47

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

section 45(2) by adopting a Fair Market Value of the land as per report from the DVO. The Assessing Officer computed the Long Term Capital Gains at Rs. 4,31,47

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

section 45(2) by adopting a Fair Market Value of the land as per report from the DVO. The Assessing Officer computed the Long Term Capital Gains at Rs. 4,31,47

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

47 taxmann.com 189)(Bangaore- Trib.) 4. National Coal Development Corporation Staff Co-operative Credit Society Ltd. Vs DCIT (ITA No 1564/Kol/2011) 5. Southern Technologies Ltd. Vs JCIT, Coimbatore (2010) (187 Taxman 346) (SC) 10.2 The AO has further held that income earned from investments made by the appellant with a ‘co-operative bank' would not be eligible for exemption

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

47 taxmann.com 189)(Bangaore- Trib.) 4. National Coal Development Corporation Staff Co-operative Credit Society Ltd. Vs DCIT (ITA No 1564/Kol/2011) 5. Southern Technologies Ltd. Vs JCIT, Coimbatore (2010) (187 Taxman 346) (SC) 10.2 The AO has further held that income earned from investments made by the appellant with a ‘co-operative bank' would not be eligible for exemption

EMAMI INDRASTRUCTURE LIMITED,KOLKATA vs. ITO, WD-12(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed in part

gains. In the above noted two cases (i.e. 1 and 2), transfer of capital asset between holding and subsidiary company is chargeable to tax by virtue of section 47

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

47,070/- for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 respectively. The assessee had declared long term capital gains for the Asst Years 2007-08 and 2008-09 in the sums of Rs 5,18,754/- and Rs 44,01,695/- which has been accepted by the revenue and this goes to prove that

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

47,070/- for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 respectively. The assessee had declared long term capital gains for the Asst Years 2007-08 and 2008-09 in the sums of Rs 5,18,754/- and Rs 44,01,695/- which has been accepted by the revenue and this goes to prove that

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

47,070/- for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 respectively. The assessee had declared long term capital gains for the Asst Years 2007-08 and 2008-09 in the sums of Rs 5,18,754/- and Rs 44,01,695/- which has been accepted by the revenue and this goes to prove that

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

47,070/- for the Asst Years 2005-06 , 2006-07 , 2007-08 and 2008-09 respectively. The assessee had declared long term capital gains for the Asst Years 2007-08 and 2008-09 in the sums of Rs 5,18,754/- and Rs 44,01,695/- which has been accepted by the revenue and this goes to prove that

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]

47. The Ld. A.R also referred to the computation provisions as contained in Section 48 of the Act and submitted that the section itself enumerates mode of computation of gain from sale of capital asset . The Ld. A.R vehemently submitted that the capital asset as defined in section 2