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

2) of Income Tax Act deals with the cases where a capital asset is converted into stock in trade. Whenever a capital asset is converted into stock in trade by an assessee it is deemed as transfer of capital asset and attracts capital gain provisions, in spite of the fact that the ownership of such capital asset doesn't change

THE INSTITUTE OF INDIA FOUNDRYMEN,KOLKATA vs. ITO, WARD-1(3),EXEMPT, KOLKATA., KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

46,25,391/- in A.Y. 2015-16 .In A.Y. there is meagre surplus of Rs. 52,28,978/- which comes to around 18% of the gross receipts. Again in A.Y. 2017-18 thereis deficit of Rs. 1,32,48,114/- during the year. The Ld. A.R submitted that the case of the assessee squarely covered by the Co- ordinate Bench

THE INSTITUTE OF INDIAN FOUNDRYMEN. ,KOLKATA vs. ITO, WARD-1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

46,25,391/- in A.Y. 2015-16 .In A.Y. there is meagre surplus of Rs. 52,28,978/- which comes to around 18% of the gross receipts. Again in A.Y. 2017-18 thereis deficit of Rs. 1,32,48,114/- during the year. The Ld. A.R submitted that the case of the assessee squarely covered by the Co- ordinate Bench

THE INSTITUTE OF INDIAN FOUNDRYMEN ,KOLKATA vs. ITO, WARD- 1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

46,25,391/- in A.Y. 2015-16 .In A.Y. there is meagre surplus of Rs. 52,28,978/- which comes to around 18% of the gross receipts. Again in A.Y. 2017-18 thereis deficit of Rs. 1,32,48,114/- during the year. The Ld. A.R submitted that the case of the assessee squarely covered by the Co- ordinate Bench

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:

46,462/- Total 6,82,03,213/- 10% proportionate disallowance thereon 68,20,321/- This action of the ld AO was upheld by the ld DRP. Aggrieved, the assessee is in appeal before us on the following ground:- 4.1 On facts and circumstances of the case and in law, the Ld. Panel erred in confirming the ad-hoc disallowance made

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:

46,462/- Total 6,82,03,213/- 10% proportionate disallowance thereon 68,20,321/- This action of the ld AO was upheld by the ld DRP. Aggrieved, the assessee is in appeal before us on the following ground:- 4.1 On facts and circumstances of the case and in law, the Ld. Panel erred in confirming the ad-hoc disallowance made

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

gain of Rs 7,18,74,000/- in the facts of the case. The ld AO is accordingly directed to give benefit of the same to the assessee based on the correctness of the claim of brought forward loss figure made by the assessee. Accordingly, the Ground Nos. 5.1 & 5.2 raised by the assessee are allowed for statistical purposes

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

46,82,027 x 852/519] Long Term Capital gains 88,98,508 However, again in 2012 the appellant revalued the land from Rs. 8,50,00,000/- to Rs. 90,00,00,000/-. Timing of revelation is again important as just from FY 2012-13, appellant started earning capital gains from the said Joint Development Agreement

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

46,82,027 x 852/519] Long Term Capital gains 88,98,508 However, again in 2012 the appellant revalued the land from Rs. 8,50,00,000/- to Rs. 90,00,00,000/-. Timing of revelation is again important as just from FY 2012-13, appellant started earning capital gains from the said Joint Development Agreement

INCOME TAX OFFICER-WARD-23(3), KOLKATA, KOLKATA vs. SUDIP ROY, KOLKATA

In the result, Revenue’s appeal is allowed partly

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2007-08

2. The only inter-connected issue raised by Revenue in this appeal is that Ld. CIT(A) erred in deleting the addition made by the Assessing Officer under the head capital gain by taking the cost inflation index factor of 1981 i.e. 100 and further erred by disregarding the valuation report made

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)

46,54,764 33.56 Upto 21 days 1,87,64,423 44.04 Upto 30 days 2,29,32,236 44.04 Upto 45 days 2,77,23,051 49.44 Upto 60 days 2,87,34,474 51.58 Upto 75 days 2,52,22,063 55.15 Upto 90 days 2,61,79,028 57.15 ITA No. 425 & 613/Kol/2015 Yamini Khandelwal

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)

46,54,764 33.56 Upto 21 days 1,87,64,423 44.04 Upto 30 days 2,29,32,236 44.04 Upto 45 days 2,77,23,051 49.44 Upto 60 days 2,87,34,474 51.58 Upto 75 days 2,52,22,063 55.15 Upto 90 days 2,61,79,028 57.15 ITA No. 425 & 613/Kol/2015 Yamini Khandelwal

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)

46,54,764 33.56 Upto 21 days 1,87,64,423 44.04 Upto 30 days 2,29,32,236 44.04 Upto 45 days 2,77,23,051 49.44 Upto 60 days 2,87,34,474 51.58 Upto 75 days 2,52,22,063 55.15 Upto 90 days 2,61,79,028 57.15 ITA No. 425 & 613/Kol/2015 Yamini Khandelwal

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)

46,54,764 33.56 Upto 21 days 1,87,64,423 44.04 Upto 30 days 2,29,32,236 44.04 Upto 45 days 2,77,23,051 49.44 Upto 60 days 2,87,34,474 51.58 Upto 75 days 2,52,22,063 55.15 Upto 90 days 2,61,79,028 57.15 ITA No. 425 & 613/Kol/2015 Yamini Khandelwal

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

2,11,609/-, whereas according to DDIT, rent received was 32,595/- per month. Therefore, the ld. AO added a sum of ₹1,48,308 (₹148,126 + Rs.182) to the total income of the assessee. 06. In the appellate proceedings, the ld. CIT (A) came to the conclusion that the land and building were part of the block of assets

ALOKE RAY,KOLKATA vs. ACIT(INTT.TAXATION), CIR.-1(1), KOLKATA

In the result, the appeal of the assessee is allowed

46,35,100 2 Less Indexed cost of Acquisition (-) Rs. 1,43,36,000 3 Long Term Capital Gain Rs. 2,02,99,000 4 Less Deduction u/s 54EC (-) Rs. 50,00,000 5 Net Long Term Capital Gain Rs. 1,52,99,100/- In support of indexed cost of acquisition, the assessee has filed valuation report of property

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

46,110/- on 03.11.2017. The case of the assessee was selected for scrutiny under CASS and statutory notices were duly issued and served to the assessee. During the course of assessment proceedings, the AO observed that the gross receipt of assessee were Rs. 17,91,39,345/- under the head sale/turnover. The AO after examining the details furnished

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 Banka; A.Y. 2014-15 3.7. Total Long Term Capital Gains as per the assessee was computed at Rs. 7,70,25,588 as under:- From Transfer of Developer’s allocation 4,65,63,334 From Transfer of 1st Floor