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

45 of the Act in his order, the AO incorrectly interpreted the gain as long-term capital 50 for the reasons best known to him. gain by not considering section 50 for the reason best known to him. 6.8 In light of the previous discussions, I am of the opinion that the gains generated from the transfer of capital assets

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]

1) Where the capital gain arises from the transfer of a long-term capital asset (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains

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

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

section 54F(1)\nwhich says that \"net consideration\", in relation to the transfer of a capital\nasset, means the full value of the consideration received or accruing as a\nresult of the transfer of the capital asset as reduced by any expenditure\nincurred wholly and exclusively in connection with such transfer.\nIn CIT vs. Miss Piroja C. Patel

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

In the result, the appeal of the assessee is allowed

1) of the said Act. It is not a requisite\nof Section 54 that construction could not have commenced prior to the date of transfer of\nthe asset resulting in capital gain. If the amount of capital gain is greater than the cost of\nthe new house, the difference between the amount of capital gain and the cost

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

In the result, the appeal of the assessee is allowed

45 as the income of the previous year; and for the purpose of\ncomputing in respect of the new asset any capital gain arising from its\ntransfer within a period of three years of its purchase or construction, as\nthe case may be, the cost shall be nil; or\n(ii)\nif the amount of the capital gain is equal

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

45 of the paper book. The counsel of the Assessee in that case hadcontended, at Para 7 of the Judgement, that "tax" does not include "Interest" and forthis proposition he relied on the Judgement of Apex Court in the case of HarshadShantilal Mehta. The Hon'ble High Court decided this issue in favour of the assessee.Please see Paras

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

45,83,180/- declared in the return for AY 2014-15 filed on 27.09.2014. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act. The reason for selecting the case for scrutiny was for verifying suspicious transaction relating to long term capital gain on share, low net profit from share broking

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

45,83,180/- declared in the return for AY 2014-15 filed on 27.09.2014. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act. The reason for selecting the case for scrutiny was for verifying suspicious transaction relating to long term capital gain on share, low net profit from share broking

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

45,83,180/- declared in the return for AY 2014-15 filed on 27.09.2014. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act. The reason for selecting the case for scrutiny was for verifying suspicious transaction relating to long term capital gain on share, low net profit from share broking

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

45,83,180/- declared in the return for AY 2014-15 filed on 27.09.2014. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act. The reason for selecting the case for scrutiny was for verifying suspicious transaction relating to long term capital gain on share, low net profit from share broking

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

45 taxmann.com 443 (Gujarat)- Order dated 12.03.2014; (vi) Nimitaya Hotel & Resorts Ltd. –vs.- ACIT – 109 taxmann.com 185 (delhi)- Order daed 01.04.2019; (vii) Arvind Sahdeo Gupta –vs.- ITO – 153 taxmann.com 244 (Bombay) – Order dated 08.08.2023; (viii) Ferrous Infra Pvt. Ltd. –vs.- DCIT- 63 taxmann.com 201 (Delhi)- Order dated 21.05.2015. Sr. 1 to 8 (index) 5 Assessment Year

MINAKSHI DAS,JALPAIGURI vs. I.T.O., WARD - 1(3),, SILIGURI

CAPITAL GAIN\nSale of Items as per list enclosed\n45,45,100\nLess: (cost of acquisition etc.)\n(-) 1741068\nIndexed Cost of Acquisition\n2804032\nINCOMEFROM OTHER SOURCE\nINCOME FROMINTEREST\nInterest from Saving Bank A/c\nS/B Int.\n63565\nInterest on F.d. with banks\nF.D Int\n15885.\nINCOME FROMOTHERS\nLIC commission\n79,450\n85370\n85,370\nGROSS TOTAL INCOME\nLess:- Deduction under

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Section 43(6)(c) read with Section 32 of the Act, and therefore Section 50C is not applicable, reliance in this regard is placed on the following- -Decision of the jurisdictional Tribunal in the case of Eveready Industries India Ltd. -vs.- PCIT (2020) 181 ITD 528 (Kolkata Trib.) wherein the Hon'ble ITAT has held that while computing

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Section 43(6)(c) read with Section 32 of the Act, and therefore Section 50C is not applicable, reliance in this regard is placed on the following- -Decision of the jurisdictional Tribunal in the case of Eveready Industries India Ltd. -vs.- PCIT (2020) 181 ITD 528 (Kolkata Trib.) wherein the Hon'ble ITAT has held that while computing

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

capital gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

capital gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under

M/S H.K.DUTTA & CO.,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

capital gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

capital gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under