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)

section 143(3) that the Assessing Officer had accepted the claim of short-term capital gains and long-term capital gains of the assessee. Hence the principles of consistency should be followed in the instant case. Though the principle of res judicata does not apply to income-tax proceedings, the principle of consistency cannot be given ago by. [Para

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)

section 143(3) that the Assessing Officer had accepted the claim of short-term capital gains and long-term capital gains of the assessee. Hence the principles of consistency should be followed in the instant case. Though the principle of res judicata does not apply to income-tax proceedings, the principle of consistency cannot be given ago by. [Para

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)

section 143(3) that the Assessing Officer had accepted the claim of short-term capital gains and long-term capital gains of the assessee. Hence the principles of consistency should be followed in the instant case. Though the principle of res judicata does not apply to income-tax proceedings, the principle of consistency cannot be given ago by. [Para

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)

section 143(3) that the Assessing Officer had accepted the claim of short-term capital gains and long-term capital gains of the assessee. Hence the principles of consistency should be followed in the instant case. Though the principle of res judicata does not apply to income-tax proceedings, the principle of consistency cannot be given ago by. [Para

RAVI JALAN,KOLKATA vs. ITO, WARD - 36(1), KOLKATA , KOLKATA

In the result, Ground r.w

36(1), Kolkata……................................................….…….....…..Respondent Appearances by: Shri Subash Agarwal A/R & Shri Siddharth Agarwal, Advocate, appeared on behalf of the assessee. Mr. Altaf Hussain, JCIT D/R, appearing on behalf of the Revenue. Date of concluding the hearing : November 11th, 2019 Date of pronouncing the order : January 15th, 2019 ORDER Per J. Sudhakar Reddy, AM :- This appeal filed by the assessee

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

36,337/- on the ground that the said asset being depreciable asset forming part of the block of assets ‘building’ was Short Term Capital Gain in terms of section

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)

36 was modified vide letter dt. 19/12/2017. Accordingly, Ground No. 1 and modified Ground No. 2 are reproduced as under:- “1. FOR that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in law as well as on facts in holding that the shares sold within 90 days be treated as business income

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)

36 was modified vide letter dt. 19/12/2017. Accordingly, Ground No. 1 and modified Ground No. 2 are reproduced as under:- “1. FOR that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in law as well as on facts in holding that the shares sold within 90 days be treated as business income

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)

36 was modified vide letter dt. 19/12/2017. Accordingly, Ground No. 1 and modified Ground No. 2 are reproduced as under:- “1. FOR that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in law as well as on facts in holding that the shares sold within 90 days be treated as business income

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)

36 was modified vide letter dt. 19/12/2017. Accordingly, Ground No. 1 and modified Ground No. 2 are reproduced as under:- “1. FOR that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in law as well as on facts in holding that the shares sold within 90 days be treated as business income

EIH LTD.,KOLKATA vs. THE DCIT, CIR-8(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

section 50(1) of the Act, the assessee company computed short term capital gains on sale of depreciable assets, although the assets which were sold were long term capital asset as the holding period of them exceeded 36

DCIT, CIR-8(1), KOLKATA, KOLKATA vs. M/S EIH LTD., KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

section 50(1) of the Act, the assessee company computed short term capital gains on sale of depreciable assets, although the assets which were sold were long term capital asset as the holding period of them exceeded 36

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

capital gains of Rs.96,37,85,635/- taxable under section 45(3) of the Act or otherwise and that on revaluation of its fixed assets by the firm (of its land and building) there was no income that accrued or arose in the hands of the partners and the addition of Rs.37,03,36

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Eih Ltd V/S. Dcit, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [Pan No.Aaace 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date Of Hearing 16-05-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Dispute Resolution Panel-2, (Drp For Short) Dated 17.10.2016. Assessment Was Framed By Dcit, Circle-8(1), Kolkata U/S 144C(13)/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.11.2016 For Assessment Year 2012-13 & Grounds Raised By Assessee Read As Under:- “1.0 Determination Of Arm'S Length Price For Corporate Guarantee Fees 1.1 On The Facts & In The Circumstances Of The Case & In Law, The Learned Transfer Pricing Officer (Hereinafter Referred To As "Ld, Tpo") & Accordingly Learned Assessing Officer (Hereinafter Referred To As "Ld. Ao") Erred In Treating The Corporate Guarantee Extended By The Appellant To Its Associated Enterprise (Ae) As International Transaction & Dispute Resolution Panel (Hereinafter Referred To As "Ld, Panel") Erred In Confirming The Same As An International Transaction Without Appreciating The Fact That It Does Not Fall Within The Ambit Of "International Transaction" U/S 92B Of The Act. 1.2 The Ld.Ao/Tpo & The Ld. Panel Failed To Appreciate The Fact That Corporate Guarantee Has Been Advanced By The Appellant As A Matter Of Commercial Prudence To Protect The Business Interest Of The Group By Fulfilling

section 2(29B) of the Act. Hence we hold that the depreciable assets which had been held for more than 36 months prior to its sale, does not lose its character of being a long term capital asset, even though it might get taxed as short term capital gain

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

capital gains of Rs.96,37,85,635/- taxable under section 45(3) of the Act or otherwise and that on revaluation of its fixed assets by the firm (of its land and building) there was no income that accrued or arose in the hands of the partners and the addition of Rs.37,03,36

ACIT, CIRCLE - 7, KOLKATA, KOLKATA vs. C.D. EQUIFINANCE PVT. LTD., KOLKATA

In the result, all the appeals filed by the Revenue are dismissed, while the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

36,507/- was chargeable to tax in its hands as business income and not short-term capital gain. Accordingly, the said amount was brought to tax by him in the hands of the assesese under the head “profits and gains of business or profession” at normal rate of tax in the assessment completed under section

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S COMMAND CONSTRUCTIONS PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 571/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Command Constructions Private Ltd. [Pan: Aaccc5075A ] (Appellant) (Respondent)

capital gains of Rs.96,37,85,635/- taxable under section 45(3) of the Act or otherwise and that on revaluation of its fixed assets by the firm (of its land and building) there was no income that accrued or arose in the hands of the partners and the addition of Rs.37,03,36

UTSAV JAIN,KOLKATA vs. I.T.O, WD29(4), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2009-10 Utsav Jain V/S. Ito, Ward-29(4), 90C Alipur Road, Aaykar Bhawan, 2, Kolkata-700 027 Gariahat Road, [Pan No.Agrpj 4300 R] Kolkataa-700 068 .. अपीलाथ" /Appellant ""यथ"/Respondent

capital gain and, consequently, assessee was entitled to set off same under section 54 – Held, yes. Taking a consistent views relying on the aforesaid judgments of Hon'ble High Courts and facts of the present case, we reverse the orders of Authorities Below and direct the Assessing Officer to take the date of letter of allotment for working