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)

21,28,212/- for the Asst Year 2005-06 declared under the head ‘Capital Gains’ is to be treated as ‘Business Income’. Similar treatment was given for Asst Years 2006-07 , 2007-08 & 2008-09 also except with variance in figures. 3. Before the ld CITA, the assessee reiterated the same submissions before the ld CITA as was made before

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)

21,28,212/- for the Asst Year 2005-06 declared under the head ‘Capital Gains’ is to be treated as ‘Business Income’. Similar treatment was given for Asst Years 2006-07 , 2007-08 & 2008-09 also except with variance in figures. 3. Before the ld CITA, the assessee reiterated the same submissions before the ld CITA as was made before

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

section 2(29A) and 2(42A) of the Income Tax Act, 1961 (Act). (f) the assessee relied on several judicial pronouncements in support of its claim that income from sale of shares held as investment can give rise only to income under the head ‘capital gain’ and that the assessee can be both a dealer in shares holding shares

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

section 2(29A) and 2(42A) of the Income Tax Act, 1961 (Act). (f) the assessee relied on several judicial pronouncements in support of its claim that income from sale of shares held as investment can give rise only to income under the head ‘capital gain’ and that the assessee can be both a dealer in shares holding shares

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

21 (SC). 5.8.1. The above tests have again been reiterated by the CBDT in its Circular issued on this subject. Keeping in mind, the above broad principles, we shall now examine the case of the assessee. The assessee during the previous year had entered into transactions of purchase of shares giving rise to short term capital gain

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

21 (SC). 5.8.1. The above tests have again been reiterated by the CBDT in its Circular issued on this subject. Keeping in mind, the above broad principles, we shall now examine the case of the assessee. The assessee during the previous year had entered into transactions of purchase of shares giving rise to short term capital gain

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

Gain from Bonds and Right to property respectively as claimed by the assessee was allowed by the Assessing Officer and keeping in view this error allegedly committed by the Assessing Officer, the ld. Pr. CIT exercising his power conferred upon him under section 263 revised/set aside the order of the Assessing Officer passed under section 143(3) on this issue

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

gains with the help of sections 49 and 47 of the Act but did not press the technical aspect of the case and accordingly the appeal which was part- heard was refixed and not treated to be as part-heard. 10. In the course of the appeal before us, the Ld. AR as well as the Ld. DR made arguments

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

gains with the help of sections 49 and 47 of the Act but did not press the technical aspect of the case and accordingly the appeal which was part- heard was refixed and not treated to be as part-heard. 10. In the course of the appeal before us, the Ld. AR as well as the Ld. DR made arguments

D.C.I.T.,CIRCLE-3(1), KOLKATA vs. SMT. SHIKHA ROY, KOLKATA

In the result, appeal of the revenue is dismissed

Section 2(47) of the Ac of the Act and on various case-law for the proposition that law for the proposition that transfer of tenancy rights would tantamount to transfer of capital asset. He submitted transfer of tenancy rights would tantamount to transfer of capital asset. He submitted transfer of tenancy rights would tantamount to transfer of capital asset

ACIT, CIRCLE - 31, KOLKATA, KOLKATA vs. PRADYUMNA DALMIA, KOLKATA

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

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

capital gain, depending upon the period of the holding. A finding of fact has been arrived at by the Tribunal as regards the existence of two distinct types of transactions namely, those by way of investment on one hand and those for the purposes of business on the other hand. Question (a) above, does not raise any substantial question

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

section 54F was to be allowed as per law. 20. The assessee had shown capital gains being the instalment of sale proceeds received in AY 2013-14 and 2014-15 at Rs. 38,00,000/- and Rs. 24,00,000/- respectively, which was not correct. It has been judicially held that income is to be assessed in the correct

YAMINI KHANDEL WAL,KOLKATA vs. ACIT, CIR-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

21,31,636/- ii) Short Term Capital Gains in listed securities & units 2,05,68,467/- a) On listed securities … b) On listed units … (-) 69,341/- 2,04,99,126/- iii) Long Term Capital Gains NIL Net Long Term Capital Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources

DCIT, CIR-36, KOLKATA, KOLKATA vs. SHRI SURAJ KHANDEL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

21,31,636/- ii) Short Term Capital Gains in listed securities & units 2,05,68,467/- a) On listed securities … b) On listed units … (-) 69,341/- 2,04,99,126/- iii) Long Term Capital Gains NIL Net Long Term Capital Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources

DCIT, CIR-36, KOLKATA, KOLKATA vs. SMT YAMINI KHANDELWAL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

21,31,636/- ii) Short Term Capital Gains in listed securities & units 2,05,68,467/- a) On listed securities … b) On listed units … (-) 69,341/- 2,04,99,126/- iii) Long Term Capital Gains NIL Net Long Term Capital Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources

SURAJ KHANDELWAL,KOLKATA vs. JCIT, RG-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

21,31,636/- ii) Short Term Capital Gains in listed securities & units 2,05,68,467/- a) On listed securities … b) On listed units … (-) 69,341/- 2,04,99,126/- iii) Long Term Capital Gains NIL Net Long Term Capital Gain on listed securities exempted u/s. 10(38) 18,95,942/- 1,68,320/- iv) Income from other sources

INCOME TAX OFFICER-WARD-31(3), KOLKATA, KOLKATA vs. DILIP B BESAI (HUF), KOLKATA

In the result, the appeals of the revenue are dismissed

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm]

21,54,384/- in the return of income and long term capital gains (LTCG) of Rs. 1,06,86,185/- and claimed exemption u/s 10(38) of the Act for Rs. 1,06,86,185/- in the return of income. The assessee derived dividend income of Rs. 2,33,98,095/- out of investments made in various shares and mutual

ITO, WARD - 12(1), KOLKATA, KOLKATA vs. M/S. LYONS & ROSES PVT. LTD., KOLKATA

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

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

capital gain, depending upon the period of the holding. A finding of fact has been arrived at by the Tribunal as regards the existence of two distinct types of transactions namely, those by way of investment on ITA Nos. 1148/K09, CO No. 52/K/09 & 1437/K/09C-AM 20 M/s. Lypons & Roses Pvt. Ltd one hand and those for the purposes of business