M/S. STP LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, appeal filed by the assessee is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. Dcit, Circle-10, Kolkata M/S Stp Limited C/O. G.P. Agarwal & Associates, 7A, Kiran Shankar Ray Road, 2Nd Floor, Kol-1. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs6339M .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

433/- was enhanced by ld CIT(A) treating it as long term capital gain. Before we analyze the findings of the ld. CIT(A), let us go through the provision of section

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

433 54,90,088 61,47,367 75,57,293 Investments 19,65,109 16,87,893 25,42,477 24,77,368 Loans 61,379 93,583 47,813 10,60,975 Net interest 9,390 12,997 39,530 32,621 Dividend 61,774 63,824 59,029 1,3,683 3. The Ld. ARs of the appellant

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

433 54,90,088 61,47,367 75,57,293 Investments 19,65,109 16,87,893 25,42,477 24,77,368 Loans 61,379 93,583 47,813 10,60,975 Net interest 9,390 12,997 39,530 32,621 Dividend 61,774 63,824 59,029 1,3,683 3. The Ld. ARs of the appellant

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

433 54,90,088 61,47,367 75,57,293 Investments 19,65,109 16,87,893 25,42,477 24,77,368 Loans 61,379 93,583 47,813 10,60,975 Net interest 9,390 12,997 39,530 32,621 Dividend 61,774 63,824 59,029 1,3,683 3. The Ld. ARs of the appellant

SHIW KRISHAN MOHTA.,KOLKATA vs. C.I.T CENTRAL - 1,KOLKATA., KOLKATA

In the result, the appeal filed by the assessee on this ground is dismissed

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1922/Kol/2012 ("नधा"रण वष" /Assessment Year:2009-2010) Shri Shiv Kishan Mohta(Decd.) Vs. Commissioner Of Income Tax-1, Represented By L/H Shri Sushil 110 Shantipally, Mohta, Aykar Bhawan Poorva, 9A, Alipore Park Place, Kolkata-700107 South City, Belair, Kolkata-700027 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Afhpm 1971 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./Ita No. 330/Kol/2012 ("नधा"रण वष" /Assessment Year:2009-2010) Shri Shiv Kishan Mohta(Decd.) Vs. Dcit, Central Circle-Xxviii Represented By L/H Shri Sushil 18, Rabindra Sarani, 5Th Floor, Poddar Court, Mohta, 9A, Alipore Park Place, Kolkata-700001 South City, Belair, Kolkata-700027 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Afhpm 1971 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri B.C.Jain, Fca Revenue By : Shri Niraj Kumar, Cit(Dr) सुनवाई क" तार"ख / Date Of Hearing : 07/12/2016 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To Assessment Year 2009-10. The Appeal In Ita No.1922/Kol/2012 Is Directed Against The Order Dated 26.11.2012 Passed By Ld. Commissioner Of Income Tax-1, Kolkata, U/S.263 Of The Act & Appeal In Ita No.330/Kol/2012, Is Directed Against The Order Passed By Ld. Cit(A), Central-1, Kolkata In Appeal No.211/Cc-Xxviii/Cit(A),C-I/10-11, Kolkata, Dated 09.12.2011, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961

Gain as per provision to section 48 of the Act. However since the STT of Rs. 2,89,139/- has been paid in respect of F & 0 activities which are assessable as business income, the same is an allowable expenditure. Accordingly out of total disallowance under the head Direct expenses of Rs. 3,21,823/- made by the A.O disallowance

SHRI SHIV KISHAN MOHTA,KOLKATA vs. DCIT, CENTRAL CIRCLE - XXVIII, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee on this ground is dismissed

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1922/Kol/2012 ("नधा"रण वष" /Assessment Year:2009-2010) Shri Shiv Kishan Mohta(Decd.) Vs. Commissioner Of Income Tax-1, Represented By L/H Shri Sushil 110 Shantipally, Mohta, Aykar Bhawan Poorva, 9A, Alipore Park Place, Kolkata-700107 South City, Belair, Kolkata-700027 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Afhpm 1971 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./Ita No. 330/Kol/2012 ("नधा"रण वष" /Assessment Year:2009-2010) Shri Shiv Kishan Mohta(Decd.) Vs. Dcit, Central Circle-Xxviii Represented By L/H Shri Sushil 18, Rabindra Sarani, 5Th Floor, Poddar Court, Mohta, 9A, Alipore Park Place, Kolkata-700001 South City, Belair, Kolkata-700027 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Afhpm 1971 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri B.C.Jain, Fca Revenue By : Shri Niraj Kumar, Cit(Dr) सुनवाई क" तार"ख / Date Of Hearing : 07/12/2016 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To Assessment Year 2009-10. The Appeal In Ita No.1922/Kol/2012 Is Directed Against The Order Dated 26.11.2012 Passed By Ld. Commissioner Of Income Tax-1, Kolkata, U/S.263 Of The Act & Appeal In Ita No.330/Kol/2012, Is Directed Against The Order Passed By Ld. Cit(A), Central-1, Kolkata In Appeal No.211/Cc-Xxviii/Cit(A),C-I/10-11, Kolkata, Dated 09.12.2011, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961

Gain as per provision to section 48 of the Act. However since the STT of Rs. 2,89,139/- has been paid in respect of F & 0 activities which are assessable as business income, the same is an allowable expenditure. Accordingly out of total disallowance under the head Direct expenses of Rs. 3,21,823/- made by the A.O disallowance

MANISH PARASRAMPURIA,KOLKATA vs. A.O., NFAC / D.C.I.T., CIRCLE-43, KOLKATA, KOLKATA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16

Capital Gain in disguise of transacting In the shares of M/s Sulabh Engineers and Services Ltd. Hence, based on the findings and surrounding circumstances and considering the aspect of human probability in transacting In such a script, the LTCG&STCG claimed by the assessee has been treated as a bogus or Sham transaction which Is nothing but a colourable device

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

433/- u/s 143(3) of the Act and penalty of ₹171,66,35,574/- was also imposed u/s 270A of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal of the assessee by dismissing the ground of disallowance of expenses exceeding the prescribed limit of Insurance Regulatory

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

433/- u/s 143(3) of the Act and penalty of ₹171,66,35,574/- was also imposed u/s 270A of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal of the assessee by dismissing the ground of disallowance of expenses exceeding the prescribed limit of Insurance Regulatory

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

433/- u/s 143(3) of the Act and penalty of ₹171,66,35,574/- was also imposed u/s 270A of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal of the assessee by dismissing the ground of disallowance of expenses exceeding the prescribed limit of Insurance Regulatory

ACIT, CIRCLE-11(2), KOLKATA, KOLKATA vs. M/S. TCG LIFESCIENCES LIMITED., KOLKATA

In the result, appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri J.Sudhakar Reddy, Am] I.T.A No. 1053/Kol/2017 Assessment Year : 2010-11 A.C.I.T., Circle-11(2) -Vs.- M/S. Tcg Lifesciences Ltd. Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) I.T.A No. 966/Kol/2017 Assessment Year : 2010-11 M/S. Tcg Lifesciences Pvt.Ltd. -Vs- C.I.T.(A)-22, (Formerly “Tcg Lifesciences Ltd.) Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri S.P.Singh, Irs (Rtd.) & Shri Manoneet Dalal & Ms.Gunjan Khanna, Cas Date Of Hearing : 14.09.2017. Date Of Pronouncement : 22.09.2017. Order Per N.V.Vasudevan, Jm

Gains chargeable to tax under Section 45 of the Act are, defined to be income. The amounts received on issue of share capital including the premium is undoubtedly on capital account. Share premium have been made taxable by a legal fiction under Section 56(2)(viib) of the Act and the same is enumerated as Income in Section

M/S TCG LIFESCIENCES PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE-11, KOLKATA, KOLKATA

In the result, appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri J.Sudhakar Reddy, Am] I.T.A No. 1053/Kol/2017 Assessment Year : 2010-11 A.C.I.T., Circle-11(2) -Vs.- M/S. Tcg Lifesciences Ltd. Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) I.T.A No. 966/Kol/2017 Assessment Year : 2010-11 M/S. Tcg Lifesciences Pvt.Ltd. -Vs- C.I.T.(A)-22, (Formerly “Tcg Lifesciences Ltd.) Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri S.P.Singh, Irs (Rtd.) & Shri Manoneet Dalal & Ms.Gunjan Khanna, Cas Date Of Hearing : 14.09.2017. Date Of Pronouncement : 22.09.2017. Order Per N.V.Vasudevan, Jm

Gains chargeable to tax under Section 45 of the Act are, defined to be income. The amounts received on issue of share capital including the premium is undoubtedly on capital account. Share premium have been made taxable by a legal fiction under Section 56(2)(viib) of the Act and the same is enumerated as Income in Section

M/S ADHUNIK INFRASTRUCTURE PVT. LTD.,KOLKATA vs. JCIT, RG-10, KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No.1281 /Kol/2015 Assessment Year : 2010-11

capital of the assessee; (ii ) who holds, directly or indirectly, shares carrying not less than twenty-six per cent of the voting power in the assessee; (iii ) who appoints more than half of the Board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of the assessee

ACIT, CIRCLE - 54, KOLKATA, KOLKATA vs. SHRI PAWAN KUMAR JHUNJHUNWALA, KOLKATA

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

capital gain and interest income from other sources. The entire books of accounts viz cash book, ledger, bills / vouchers, etc were produced by the assessee before the Learned AO and the same were examined on test check basis by the Learned AO. These facts on record are undisputed and indisputable. 3.1. During the course of assessment proceedings, the Learned

SMT. KAJARI BANERJEE,KOLKATA vs. ITO WARD-29(1), KOLKTAT

In the result, the appeal of the assessee is allowed

433 (Jaipur - Trib.)] Where assessee entered into\nagreement for purchase of flat and had made certain payment at time of\nbooking of flat, stamp duty valuation or fair market value of immovable\nproperty was to be considered as on date of payment made by assessee\ntowards booking of flat\nc) Sanjay Dattatraya Dapodikar v/s ITO Ward 6(2), Pune

M/S. SALARPURIA PROPERTIES PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 1, KOLKATA, KOLKATA

In the result, assessee’s appeal in ITA No

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

433/- u/s 234C of the Act ( Rs. 18,51,093/- levied by the A.O Less Rs. 18,33,660/- offered by the assessee company ). 6. For that in view of the facts and circumstances of the case the Ltd. CIT(A) was wholly wrong & unjustified in not allowing the Ground no. 5 of the Appeal relating to the granting

TDK INDIA PRIVATE LTD. ,KOLKATA vs. DCIT, CPC-TDS, UTTAR-PRADESH

In the result, the appeal of the revenue is dismissed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 393, 394, 395 & 396/Kol/2023 Assessment Year: 2019-20 Tdk India Private Limited Deputy Commissioner Of Income Kulia Kanchrapara Road Vs Tax - Cpc, Tds P.O. Netaji Subhas Sanatorium Kalyani Nadia - 741251 [Pan : Aaaci6950Q] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent)

433 2,19,480 2,19,480 -20 /27Q/D/1 Nov- 00036218 2019 187 6 Q3 2019 200A TDS/1920 30- 2,11,082 6,326 2,17,410 2,17,410 -20 /27Q/D/1 Jan-20 00036827 148 7 Q4 2019 200A TDS/1920 30- 1,67,204 8,772 1,75,980 1,75,980 -20 /27Q/D/1 Jun-20 5 I.T.A

TDK INDIA PRIVATE LTD. ,KOLKATA vs. DCIT, CPC-TDS, UTTAR-PRADESH

In the result, the appeal of the revenue is dismissed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 393, 394, 395 & 396/Kol/2023 Assessment Year: 2019-20 Tdk India Private Limited Deputy Commissioner Of Income Kulia Kanchrapara Road Vs Tax - Cpc, Tds P.O. Netaji Subhas Sanatorium Kalyani Nadia - 741251 [Pan : Aaaci6950Q] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent)

433 2,19,480 2,19,480 -20 /27Q/D/1 Nov- 00036218 2019 187 6 Q3 2019 200A TDS/1920 30- 2,11,082 6,326 2,17,410 2,17,410 -20 /27Q/D/1 Jan-20 00036827 148 7 Q4 2019 200A TDS/1920 30- 1,67,204 8,772 1,75,980 1,75,980 -20 /27Q/D/1 Jun-20 5 I.T.A