M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

gains, (F).-Income\nfrom other sources.'\nAs per section 56 of the Act, 'Income' would be 'Income from other\nsources' as per the provision of Section 56, which reads as follows.\n'Section 56. Income from other sources\n'Income of every kind which is not to be excluded from the total\nincome under this Act shall be chargeable

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

237 of the Act, action could not have been taken under section 147/148 of the Act. Our answer to the question, therefore, is in the negative, i. e. , against the revenue. " (p. 390) 11. We would arrive at this very destination even if we were to traverse along a different dialectic, namely, if we were to analyse the circumstances

UNIVERSAL TRADING COMPANY LIMITED,KOLKATA vs. DCIT, CIRCLE 5(1), KOLKATA

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

capital of the company.] 8. On perusal of the above, it shall be noted that, u/s 115O(1) of the Act, an assessee company is required to pay additional income tax on the dividends distributed or paid by the company. Sub-section (1A) further provides that, the amount on which such additional income tax is payable shall be reduced

MCNALLY SAYAJI ENGINEERING LIMITED,KOLKATA vs. DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, both the appeals are dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2009-10 & Assessment Year: 2013-14 Mcnally Sayaji Engineering Deputy Commissioner Of Limited, Income Tax, Circle 1(1), Ecospace, Campus 2B, 11F/12 Aayakar Bhavan, P-7, (Old Plot No. Aa Ii/Blk 3), Chowringhee Square, Vs New Town, Rajarhat, Kolkata - 700069 North 24 Paragans, Kolkata - 7000156 (Pan: Aaccs5491A) (Appellant) (Respondent) Present For: Appellant By : Shri Abhishek Sureka, Ar Respondent By : Shri Rakesh Kumar Das, Cit, Dr Shri Vineet Kumar, Addl. Cit, Sr. Dr Date Of Hearing : 08.07.2024 Date Of Pronouncement : 03.10.2024 O R D E R Per Rakesh Mishra: These Two Appeals Filed By The Assessee Are Against The Two Separate Orders Of The Ld. Commissioner Of Income Tax, Kolkata-I, Kolkata (Hereinafter Referred To As “The Ld. Cit”) Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”) For Ays 2009-10 & 2013- 14, Dated 28.02.2018 & 13.03.2018 Respectively. Both The Appeals Were Heard Together & Are Being Disposed Of Vide This Common Order For The Sake Of Brevity & Convenience. Mcnally Sayaji Engineering Limited.: Ays: 2009-10 & 2013-14 2. The Grounds Of Appeal Raised By The Assessee Are Reproduced As Under:

capital gains as per Section 48 of the Income Tax Act, 1961. Initiation of penalty proceedings under section 271(1)(c) of the Act 7) For that, the Ld. CIT(A) has erred in treating the initiation of penalty proceedings under section 271(1)(c) of the Act as premature at this stage ignoring the fact that the Appellant

MCNALLY SAYAJI ENGINEERING LIMITED,KOLKATA vs. DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, both the appeals are dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2009-10 & Assessment Year: 2013-14 Mcnally Sayaji Engineering Deputy Commissioner Of Limited, Income Tax, Circle 1(1), Ecospace, Campus 2B, 11F/12 Aayakar Bhavan, P-7, (Old Plot No. Aa Ii/Blk 3), Chowringhee Square, Vs New Town, Rajarhat, Kolkata - 700069 North 24 Paragans, Kolkata - 7000156 (Pan: Aaccs5491A) (Appellant) (Respondent) Present For: Appellant By : Shri Abhishek Sureka, Ar Respondent By : Shri Rakesh Kumar Das, Cit, Dr Shri Vineet Kumar, Addl. Cit, Sr. Dr Date Of Hearing : 08.07.2024 Date Of Pronouncement : 03.10.2024 O R D E R Per Rakesh Mishra: These Two Appeals Filed By The Assessee Are Against The Two Separate Orders Of The Ld. Commissioner Of Income Tax, Kolkata-I, Kolkata (Hereinafter Referred To As “The Ld. Cit”) Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”) For Ays 2009-10 & 2013- 14, Dated 28.02.2018 & 13.03.2018 Respectively. Both The Appeals Were Heard Together & Are Being Disposed Of Vide This Common Order For The Sake Of Brevity & Convenience. Mcnally Sayaji Engineering Limited.: Ays: 2009-10 & 2013-14 2. The Grounds Of Appeal Raised By The Assessee Are Reproduced As Under:

capital gains as per Section 48 of the Income Tax Act, 1961. Initiation of penalty proceedings under section 271(1)(c) of the Act 7) For that, the Ld. CIT(A) has erred in treating the initiation of penalty proceedings under section 271(1)(c) of the Act as premature at this stage ignoring the fact that the Appellant

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]

237 ITR 777 at page 783 considered the legislative intent for the introduction of section 1151. It was found that the section was introduced to take care of the phenomenon of prosperous zero-tax companies which had continued inspite of the enactment of section 80VV A. These were companies which were paying no income tax though they had profits

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

237) ELT 225 (SC)]. Even if some other similarly situated persons have been granted some benefit inadvertently or by mistake, such order does not confer any legal right on the petitioner to get the same relief. (Vide Chandigarh Administration & Anr Vs. Jagjit Singh & Anr., AIR 1995 SC 705, Smt Sneh Prabha Vs. State

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

237) ELT 225 (SC)]. Even if some other similarly situated persons have been granted some benefit inadvertently or by mistake, such order does not confer any legal right on the petitioner to get the same relief. (Vide Chandigarh Administration & Anr Vs. Jagjit Singh & Anr., AIR 1995 SC 705, Smt Sneh Prabha Vs. State

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

In the result, the appeal of the Revenue is allowed and the Cross Objection filed by the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

237 (Delhi)- order dated 16.02.2012; (iii) Bayer Material Science Pvt. Limited –vs.- DCIT – 66 taxmann.com 335 (Bombay)- Order dated 27.01.2016; (iv) Swadesh Trading Co. –vs.- DCIT 111 taxmann.com 446 (Karnataka)- Order dated 03.09.2019; (v) Torrent Power SEC Ltd. –vs.-ACIT – 45 taxmann.com 443 (Gujarat)- Order dated 12.03.2014; (vi) Nimitaya Hotel & Resorts Ltd. –vs.- ACIT – 109 taxmann.com 185 (delhi)- Order daed

PANJIT BASAK,KOLKATA vs. ITO, KOLKATA

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

Bench: Sri Rajesh Kumar & Sonjoy Sarma

capital gains discussed in para 3. This issue needs to be thoroughly examined to ascertain the genuineness of this loss” 6.4 We have also through the original order sheet entries, as were present in the assessment records and which had been submitted for our perusal by the Ld. Sr. Departmental Representative under our directions and it shows that there

AMBUJA NEOTIA HEALTHCARE VENTURE LIMITED. ,KOLKATA vs. DCIT,CIR-11(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2015-16 Ambuja Neotia Healthcare Deputy Commissioner Of Venture Ltd. Income-Tax, Circle-11(1), Vs. 86C, Vishwakarma, Topsia, Kolkata. Kolkata-700046. (Pan: Aaccn4806C) (Appellant) (Respondent)

gains from business and profession which was disallowed by the Ld. AO by holding that deduction u/s. 35AD of the Act can only be claimed during the year of running of the specified business for which such expenses was crystallised. Ld. AO found that the claim of assessee is not tenable and rejected the same. 3.1. In respect

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

section 37(1) of the Income Tax Act, though claimed by the assessee\ncompany in the return of income. Further, the liability has been raised out\nof fine or penalty imposed by the forest department, and the provision out\nof the liability is also not allowable u/s. 37(1) of the Income Tax Act. In the\npresent case, the assessee

ADONIS MARKETING (P) LTD.,KOLKATA vs. I.T.O., WARD - 9(1), , KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

capital and share premium received by the assessee as income of the assessee from unexplained sources. 3. The assessee in this appeal apart from contesting the validity of the additions made by the lower authorities on merits has also taken the legal ground that since the reassessment proceedings were initiated in this case, by issuing of notice

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

section 37(1) of the Income Tax Act, though claimed by the assessee company in the return of income. Further, the liability has been raised out of fine or penalty imposed by the forest department, and the provision out of the liability is also not allowable u/s. 37(1) of the Income Tax Act. In the present case, the assessee

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

section 37(1) of the Income Tax Act, though claimed by the assessee\ncompany in the return of income. Further, the liability has been raised out\nof fine or penalty imposed by the forest department, and the provision out\nof the liability is also not allowable u/s. 37(1) of the Income Tax Act. In the\npresent case, the assessee

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

section 37(1) of the Income Tax Act, though claimed by the assessee\ncompany in the return of income. Further, the liability has been raised out\nof fine or penalty imposed by the forest department, and the provision out\nof the liability is also not allowable u/s. 37(1) of the Income Tax Act. In the\npresent case, the assessee

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance