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

256 ITR 625, wherein it has been held that the date of registration is not decisive to ascertain the date of acquisition/ownership of the property. In defence of his argument, ld. A.R. stated that the ld. PCIT’s direction was unjustified and unlawful so far as the provisions of section 56(2)(x) of the Act were

M/S MEDI DRIPS CARRIES PVT. LTD.,KOLKATA vs. ITO, WD-12(4), KOLKATA, KOLKATA

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

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.471/Kol/2014 ("नधा"रण वष" /Assessment Year:2008-2009) M/S Medi Drips Carries Pvt. Ltd Vs. Ito, Ward-12(4), 8Th Floor, R.No.818, P-7, Chowringhee Square, 4, Synagogue Street, Aayakar Bhawan, Kolkata-700001 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Aabcm 8139 Q .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri Ashish Rustogi, Aca Revenue By : Shri Saurav Kumar, Jcit सुनवाई क" तार"ख / Date Of Hearing : 01/03/2017 घोषणा क" तार"ख/Date Of Pronouncement 08/03/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee Pertaining To Assessment Year 2008-09, Is Directed Against The Order Passed By Ld. Cit(A)-Xii, Kolkata, In Appeal No.490/Xii/12(4)/10-11, Dated 11.11.2013, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 28.12.2010. 2. The Said Captioned Appeal Filed By The Assessee Is Time Barred By Four Days. The Assessee Filed The Petition For Condonation Of Delay & Expressed The Reasons Of Delay. After Verification Of Petition We Found That There Was A Reasonable Cause For Four Days Delay In Filing The Appeal. Even Ld Dr Did Not Object To Condone The Delay. Therefore, We Condone The Delay & Admit The Appeal For Hearing. 3. Brief Facts Of The Case Qua The Assessee Are That The Assessee Company Filed Its Return Of Income On 30.09.2008. Subsequently The 2 M/S Medi Drips Carries Pvt. Ltd. Assessee Company Filed Its Revised Return Of Income On 9-12-2008

256/-“, is neither fall in ADD ITEMS nor in LESS ITEMS of explanation 1 of sub-section 2 of section 115JB, therefore no any adjustment can be done for the purpose of computing Book Profit of the assessee. 6.3. Having heard the rival submissions, perused the material on record, we are of the view that there is merit

SHRI KARTICK CHANDRA MONDAL ,HOOGHLY vs. PRINCIPAL CIT - 8, KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am

capital gains in the long term specified asset…….” We note that the term “Month” has not been defined in section 54EC of the Act. However, we note that Hon`ble Allahabad High Court in the case of CIT Vs. Munnalal Shrikishan Mainpuri (167 ITR 415) has defined the term “Month” as calendar month. The findings of the court

MEDICARE TPA SERVICE (I) PVT. LTD., ,KOLKATA vs. PRINCIPAL CIT, KOL - 4, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi] I.T.A. No. 1045/Kol/2018 Assessment Year: 2013-14 Medicare Tpa Service (I) Pvt. Ltd………………………......…………………………………………Appellant 6B, Bishop Lefroy Road Ground Floor 10, 6B, Paul Mansion Bhowanipore Kolkata – 700 020 [Pan : Aadcm 1682 L] Pr. Commissioner Of Income Tax, Kolkata -4..................................................…..…......Respondent Appearances By: Shri Subash Agarwal, Adv., Appeared On Behalf Of The Assessee. Shri A.K. Nayak, Cit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : April 22Nd, 2019 Date Of Pronouncing The Order : May 10Th , 2019 O R D E R Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Principal Commissioner Of Income Tax, Kolkata - 4, (Ld. Pr. Cit) Passed U/S. 263 Of The Income Tax Act, 1961, (The ‘Act’), Dt. 27/02/2018, For The Assessment Year 2013-14. 2. At The Outset We Find That There Is A Delay Of 13 Days In Filing Of This Appeal. After Perusing The Petition For Condonation, We Are Convinced That The Assessee Was Prevented By Sufficient Cause From Filing The Appeal On Time. Hence The Delay Is Condoned & The Appeal Is Admitted. 3. The Assessee Is A Company & Is In The Business Of, Health Insurance Claim Processing Etc. It Filed Its Return Of Income On 30/09/2013, Declaring Income Of Rs.4,80,10,710/-. The Assessing Officer Completed Assessment U/S 143(3) Of The Act, Determining The Total Income Of The Assessee At Rs.5,37,81,250/- Under The Normal Provisions & At Rs.2,72,98,018/- As Book Profit U/S 115Jb Of The Act. The Ld. Pr. Cit, Issued A Showcause Notice Dt. 04/2/2017 Proposing Revision Of The Assessment Order Passed U/S 143(3) Of The Act On 04/12/2015, By Invoking His Powers U/S 263 Of The Act,On The Following Points:-

2(47) of the Act is not attracted on the facts of this case, we need not go into any other factual question. 24. The matter can also be viewed from a slightly different angle. Shri Vohra is right when he has referred to Sections 45 and 48 of the Income Tax Act and has then argued that some real

SREEMA MAHILA SAMITY,NADIA vs. D.C.I.T., CIRCLE-NADIA, NADIA

In the result, the appeal of the assessee is dismissed

gain involved therein. In this respect, a reference may be made to the decision of Hen' ble Supreme Court in the case of Asstt. CIT Vs. Thanthi Trust (2001) 247 ITR 785 (sq. Thus, mere because there was a surplus from the activity of micro financing, that by itself, cannot be a ground to say that the assessee does

SHRI SANTANU SANYAL,KOLKATA vs. ACIT, CIR. 2(1), KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Dr. Manish Borad & Pradip Kumar Choubey

capital gains of Rs. 2,30,238/- from of sale of equity share and equity-oriented fund, while giving effect to the Impugned Order. Page 3 of 12 I.T.A. No.: 41/KOL/2024 Assessment Year: 2016-17 Shri Santanu Sanyal. 9. That the Ld. AO erred on facts and in law in not granting exemption under Section 10(34) on dividend income

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’).

capital and share premium received by the assessee during the year under consideration. 3. Being aggrieved by the said order of the Assessing Officer, the assessee preferred appeal before the CIT(A), however, the ld. CIT(A) vide impugned order dated 08.09.2020 has deleted the additions so made by the Assessing Officer. 4. Being aggrieved by the said order

HILL QUEEN INVESTMENT PVT. LTD,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2015-16 Hill Queen Investment (P) Ltd...……………………....................................……………..…….............Appellant Surobala Apartments Flat No. 202 3Rd Floor Block-B Rekhjuani, Bhatinda Rajarhat Kolkata – 700 135 [Pan : Aaacj 2324 P] Vs. Pr. Commissioner Of Income Tax -2, Kolkata..................…………...............................…......Respondent Appearances By: Shri S.M. Surana, Advocate, Appeared On Behalf Of The Assessee. Shri Devi Sharan Singh, Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : April 6Th, 2021 Date Of Pronouncing The Order : April 21St, 2021 Order Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Principal Commissioner Of Income Tax (Appeals) - 2, (Hereinafter The “Ld. Cit(A)”), Passed U/S. 263 Of The Income Tax Act, 1961 (The ‘Act’), Dt. 20/03/2020, For The Assessment Year 2015-16. 2. There Is A Delay Of 223 (Two Hundred Twenty Three) Days In Filing Of This Appeal By The Assessee. After Perusing The Petition For Condonation For Delay, We Are Convinced That The Assessee Was Prevented By Sufficient Cause In Filing The Appeal In Time. Hence, We Condone The Delay & Admit The Appeal. 3. The Assessee Is A Company & Filed Its Return Of Income For The Assessment Year 2015-16, Disclosing Total Income Of Rs.20,40,470/- On 28/09/2015. The Case Was Selected For Limited Scrutiny For The Following Reasons:- “(I) Mismatch In Sales Turnover Reported In Audit Report & Itr (Ii) Mismatch In Amount Paid To Related Persons U/S 40A(2)(B) Reported In Audit Report & Itr (Iii) Suspicious Sale Transaction In Shares (Penny Stock Tab In Its)”

capital, the gift received and sale of jewellery, the income from business etc., without any enquiry or evidence whatsoever . He directed the income tax etc., without any enquiry or evidence whatsoever . He directed the income tax etc., without any enquiry or evidence whatsoever . He directed the income tax officer to do officer to do fresh assessment after making proper enquiry

SATISH KUMAR LAKHMANI,KOLKATA vs. PR.CIT-10, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: "ी जे. सुधाकर रे"ी, लेखा सद"य एवं/And "ी ऐ. टी. वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that

KAUSHAL KISHORE BIHANI,KOLKATA vs. I.T.O.,WARD-45(1), KOLKATA

Appeal is allowed

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2014-15

gains / loss ass genuineness as causing prejudice to the interest of the Revenue. We notice in these circumstances that this tribunal’s co- ordinate bench’s decision in batch of appeals M/s Gitash Tikmani, HUF vs. Income Tax Officer Ward-28(4) Kolkata ITA No. 01 to 04/Kol/2019, ITA No.05/Kol/2019 & ITA No.609/Kol/2019 Assessment Year 2014-15 Kaushal Kishore Bihani

ANKIT GUPTA,KOLKATA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA

In the result, appeal of the assessee is allowed

gains. The Assessing Officer issued notice u/s 133(6) of the Act to M/s. Dynamic Equities Pvt. Ltd. for verification of the said 133(6) of the Act to M/s. Dynamic Equities Pvt. Ltd. for verification of the said 133(6) of the Act to M/s. Dynamic Equities Pvt. Ltd. for verification of the said transactions of sale of shares

PUSHPA DEVI SONTHALIA ,KOLKATA vs. PRINCIPAL CIT, KOLKATA - 2, KOLKATA , KOLKATA

Appeal is allowed

gains amounting to ₹2,64,98,037/- from shares held in M/s. CCL International Limited and loss of ₹10,37,905/- from shares in M/s. JMD Telefilms Limited. Ld. CIT(DR) fails to rebut the clinching fact that the assessee had filed all necessary details during scrutiny on account of specific questionnaire coming from the AO’s side. That being

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

In the result, appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2013-14

256(2) of the Act : "1. Whether, on the facts and in the circumstances of the case, the Tribunal having held that the assessees have fulfilled all the conditions laid down in section 35CCA of the Income-tax Act, 1961, read with rule 6AAA of the Income-tax Rules for deduction of the amount donated to the approved society, which

RITIN LAKHMANI,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that

GOPICHAND LAKHMANI ,KOLKATA vs. PR.CIT - 10, KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that

RACHIT LAKHMANI ,KOLKATA vs. PR.CIT - 10, KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that

JAIKISHAN LAKHMANI ,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that

PRAVESH KUMAR LAKHMANI ,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

gain! loss on sale of shares in Unno Industries; 6. Having regard to the facts and circumstances of the case and in the light of the aforesaid decisions of Hon'ble Supreme Court and Hon'ble High Court and in accordance with the amendment made to Section 263 of the Act with effect from 01.06./.015, I hold that