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

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

capital gains as provided u/s 48(ii). The issue of cost in this case is governed by section 49(iii)(e) read with sec 47(vib). The cost of acquisition therefore is to be taken which was in the hands of the previous owner of the property. Since the property was acquired by the previous owner before 1.4.1981 the cost

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

capital gains as provided u/s 48(ii). The issue of cost in this case is governed by section 49(iii)(e) read with sec 47(vib). The cost of acquisition therefore is to be taken which was in the hands of the previous owner of the property. Since the property was acquired by the previous owner before 1.4.1981 the cost

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

gains", and shall be deemed to be the income of the previous year in which the transfer took place. The transfer is defined under section 2(47) of the Act as under: 2(47) "transfer", in relation to a capital

ACID, CIRCLE-5(1), KOLKATA, KOLKATA vs. EMAMI REALTY LIMITED, KOLKATA

In the result, both the appeal of the Revenue and cross objections of the assessee are\ndismissed

2(19AA) r.w. Section 47(vi) of the Act. Since we have\nupheld the Ld. CIT(A)'s findings holding the scheme of demerger to be compliant with Section\n2(19AA) r.w. Section 47(vi) of the Act, we agree with the Ld. CIT(A) deleting this direction\nissued by the AO and dismiss these grounds as well.\n6.\nThis

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

gains arising there from should be computed as short- term capital asset. To examine the correctness of such decision, it is to necessary to take note of the definition of 'short-term capital asset' under section 2(42A). [Para 8] ■ In terms of the above definition, short-term capital asset means a capital asset held by an assessee

GAURAV VINIMAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

Gains by invoking the provisions of section 50D of the Act and assessed the total income of the assessee at ₹15,11,71,870/- u/s 143(3) of the Act. 3.1 Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who perused the assessment order, considered the submission of the assessee, the provisions

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

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

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

MADHUR COAL MINING PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

capital gains u/s 50D of the Act and assessed the total income at ₹16,61,52,180/-. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who, vide order dated 27.06.2025, dismissed the appeal of the assessee. ITA No.: 1784/KOL/2025 Assessment Year: 2015-16 Madhur Coal Mining Pvt. Ltd. 4. Aggrieved with the order

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

In the result, the appeal of the assessee is allowed

2) and u/s 142(1) of the Act along with\nquestionnaire were issued and served to the assessee. The reason\nfor selection in scrutiny in this case was large deduction claimed\nu/s 54F of the Act. The assessee during the year had sold\n36,00,000 shares of Emami Ltd. on 13.07.2020at total sale\nconsideration

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

47,32,736/-, which were disallowed under section 43B in the respective years in which they were created/debited. The ld AR submitted that the same was rightly claimed as deduction under section 43B in the year in which such provisions were written back and reversed/credited to the profit & loss Account. The ld. A.R. in defence of his argument relied

MAYURA MOHTA,MUMBAI vs. D.C.I.T., CIRCLE - 29,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-29 Mayura Mohta Aaykar Bhavan Dakshin, 2, Sumer Trinity Towers 202, Tower-I, New Prabhadevi Road, Gariahat Road (South), Vs. Prabha Devi, Mumbai-400 025 Kolkata-700031, West Bengal (Appellant) (Respondent) Pan No. Aevpm3232R Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Monalisha Pal Mukherjee, Dr Date Of Hearing: 16.12.2024 Date Of Pronouncement : 21.01.2025

capital gain, relevant observation of their Lordships reads as under: - “22. In addition to the fact that the term "transfer" has been defined under section 2(47

SEEMA SUREKA,KOLKATA vs. DCIT, CENTRAL CIRCLE - 3(3), KOLKATA

Appeal of the assessee is partly allowed

gain since the rate of\ntax prevailing for this assessment year was 30% u/s 115BBE of the Act.\nThis rate was enhanced to 60% from AY 2017-18 only. While the issue of\ntaxation would at best be a secondary consideration in deciding the merit\nof the case, it does have a certain persuasive value considering that the\nimpugned amount

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

section 2(47)(vi) which defines the term ‘transfer’. By referring to these two definitions, Ld. Sr. DR submitted that it can be easily inferred that the transaction of even leasehold property may yield long term capital gain

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

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 144B of the Act. 04. In the appellate proceedings, the ld. CIT (A) simply affirmed the order of ld. AO. 05. After hearing the rival contentions and perusing the materials available