ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

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

capital gains account scheme before the due date\nprescribed u/s 139(1) of the Act?\nThe Hon'ble Court has held that If the intention is not to retain cash but to\ninvest in construction or any purchase of the property and if such investment\nis made within the period stipulated in section 54F(1), then section 54F(4

RAM NIRANJAN BANKA,KOLKATA vs. A.C.I.T., CIRCLE - 40,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Ram Niranjan Banka Acit, Circle-40 1, Surti Bagan Street, Jorasanko, 3, Govt. Place (West), Vs. Kolkata-700073, West Bengal Kolkata-700001, West Bengal (Respondent) (Appellant) Pan No. Aedpb5273P Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 14.08.2025 Date Of Pronouncement: 21.11.2025

section 54 (1) (ii) 1,10,74,204 Short Term Capital Gain as per AO 4,19,61,865 Ram Niranjan

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

1) Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D,54E, 54EA, 54EB, 54F , 54G and 54H, be chargeable to income-tax under the head "Capital gains", and shall be deemed to be the income of the previous year in which

SWETA SONTHALIA,KOLKATA vs. ITO, WARD 7(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

4) (Now DCIT 1(1)(1), Vadodara in ITA NO. 975/Ahd/2024 dated of order 15.10.2024 (Ahmedabad ITAT). 3 I.T.A. No. 207/Kol/2025 Assessment Year: 2013-14 Sweta Sonthalia iii) CIT vs. Smt. Neena Krishna Menon [2021] 123 taxmann.com 205 (Karnataka) dated of order 19.11.2020 (Karnataka High Court) iv) Rajendra Harjivandas Prajapati vs. DCIT [2024] 167 taxmann.com 662 (Ahmedabad- Trib.) dated

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

Capital Gain. It is also stated that as per the information received from the DDIT, Kolkata, Circle 1(1), enquiry made with ADSR office and in this office could not find even one sale transactions on this rate. The ld. AR vehemently submitted before us that reference to DVO u/s 55A has to be on the satisfaction

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]

1) any profits of gain arising from the transfer of a capital asset effected in the previous year shall ,save as otherwise provided in Sections 54,54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income tax under the head capital gain and shall be deemed to be the income of the previous year in which

ORIENTAL CHARITABLE FOUNDATION,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2017-18

gains should be made to acquire another capital asset. 4. That in the facts and circumstances of the case, the Ld. CIT (Exemption), Kolkata has erred in coming to conclusion that utilization of corpus fund of Rs.8,71,03,846/- towards charitable activities is in contravention of section 11(1

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

In the result, the appeal of the assessee is allowed

1) Subject to the provisions of sub-section (4), where, in the case of an assessee\nbeing an individual or a Hindu undivided family, the capital gain

M/S PREMIER IRRIGATION ADRITEC (P) LTD.,KOLKATA vs. ACIT, CIR-11(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

gains of business or profession’. The interest on late payment of TDS, is not covered either under the provision of sections 30 to 36 of the Act, nor it qualifies as expenditure wholly and exclusively incurred for the purpose of business or profession u/s 37 of the Act. Even u/s 36(1) (iii) of the Act, the amount of interest

RAMAUTAR SARAF (HUF),KOLKATA vs. ITO, WARD 59(3),, KOLKATA

In the result, the appeal of the assessee is allowed

4) of the Act in contrast to Section 54(2) of the Act wherein the words\n'towards' is used before the word 'purchase'. The expression 'purchased'\nused in sub-clause (a) of section 54G of the Act requires to be understood\nas the domain and control given to the assessee. In the present case, it\nis not in dispute

BIMLA DEVI AGRAWAL,KOLKATA vs. A.C.I.T./D.C.I.T., CIRCLE - 34, KOLKATA, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

1, 2 and 4 are dismissed. 14. As regards Ground no. 3 the provisions of sub-section (15) of section 155 of the Act are as under: “Other amendments. 155. (15) Where in the assessment for any year, a capital gain

RUSSEL CREDIT LIMITED,KOLKATA vs. PCIT, KOL, KOLKATA

The appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Sanjay Awasthiassessment Year: 2018-19

4) In the above context it is submitted that in the said Instruction it was stated that the income arising from the transfer of unlisted shares is to be considered under the head capital gains, irrespective of the period of holding. However, the Instruction is silent about the nature of capital gains i.e. whether it would be treated as long

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

Sections 12(a), (b) and (c) of the SEBI Act, 1992 read with regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) & (e) of SEBI (PFUTP) Regulations, 2003 is not established against the Notices no. 1 to 24.” It is submitted that the name of the assessees before the Hon’ble Tribunal -M/s. Nishit Agarwal Beneficiary Trust

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

Sections 12(a), (b) and (c) of the SEBI Act, 1992 read with regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) & (e) of SEBI (PFUTP) Regulations, 2003 is not established against the Notices no. 1 to 24.” It is submitted that the name of the assessees before the Hon’ble Tribunal -M/s. Nishit Agarwal Beneficiary Trust

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

Sections 12(a), (b) and (c) of the SEBI Act, 1992 read with regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) & (e) of SEBI (PFUTP) Regulations, 2003 is not established against the Notices no. 1 to 24.” It is submitted that the name of the assessees before the Hon’ble Tribunal -M/s. Nishit Agarwal Beneficiary Trust

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

Sections 12(a), (b) and (c) of the SEBI Act, 1992 read with regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) & (e) of SEBI (PFUTP) Regulations, 2003 is not established against the Notices no. 1 to 24.” It is submitted that the name of the assessees before the Hon’ble Tribunal -M/s. Nishit Agarwal Beneficiary Trust

SHRI RAGHVENDRA MOHTA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2014-15

1. That on the facts and in the circumstances of the case, the ld. Commissioner of Income Tax {Appeals}-10, Kolkata, erred in holding that the sum of Rs.4227500/- represented Bogus long Term Capital Gain. 2. That on the facts and in the circumstances of the case, the ld. Commissioner of Income Tax {Appeals}-10, Kolkata, without finding that

DALMIA LAMINATORS LTD.,KOLKATA vs. ACIT, CIR. 7(1), KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Capital Gains shall not be allowed to be carried forward for adjustments against profits or gains of the subsequent assessment year if the return of loss is not filed within the due date u/s 139(1) of the Act. In the case of the assessee the return of income was filed as NIL after adjustment of brought forward business loss