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]

47 does not provide any exception that transfer of long term equity shares are not treated as transfer for the purpose of Section 45. Section 48 provides for computation of capital gain.After perusing the aforesaid sections conjointly and together ,we find that nowhere any exclusion or exception has been provided to the long term capital gain

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

gains", and shall be deemed to be the income of the previous year in which the transfer took place. The transfer is defined under section 2(47) of the Act as under: 2(47) "transfer", in relation to a capital

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

capital loss /long- term capital gains as the case may be, we note that apart from placing reliance on the statements, the revenue authorities have also referred to the report of the investigation Wing which carried out search and survey in some other cases prior to the conclusion of assessment proceedings in the instant appeals and such investigation included

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

In the result, the appeal of the assessee is allowed

gains was not directly\nutilized for construction. The Ld.AR took us through the provisions\nof Section 54F of the Act and submitted that, Section 54F does not\npostulate that the construction has to begin on a particular date.\nAccording to Ld. AR, the only condition to be satisfied to avail the\nexemption is that, construction of house must be completed

SKYBRIDGE REAL ESTATES LLP,KOLKATA vs. D.C.I.T., CIRCLE - 34, KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Skybridge Real Estates Llp Dcit, Circle -34, 24, Hemant Basu Sarani, Aaykar Bhavan Poorva, 110, Mangalam-A, 5Th Floor, Room Shanti Pally, E.M. Bypass, Vs. No.507, Kolkata-700001, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Acvfs7139R Assessee By : Shri N.S. Saini, Ar Revenue By : Ms. Ruchika Sharma, Dr Date Of Hearing: 21.11.2024 Date Of Pronouncement : 02.12.2024

Capital Gain of ₹1,47,27,000/- which the assessee has claimed as exempt, rejected and treated as business income of the assessee in the assessment framed u/s 143(3) read with section

MAYURA MOHTA,MUMBAI vs. D.C.I.T., CIRCLE - 29,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-29 Mayura Mohta Aaykar Bhavan Dakshin, 2, Sumer Trinity Towers 202, Tower-I, New Prabhadevi Road, Gariahat Road (South), Vs. Prabha Devi, Mumbai-400 025 Kolkata-700031, West Bengal (Appellant) (Respondent) Pan No. Aevpm3232R Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Monalisha Pal Mukherjee, Dr Date Of Hearing: 16.12.2024 Date Of Pronouncement : 21.01.2025

capital gain, relevant observation of their Lordships reads as under: - “22. In addition to the fact that the term "transfer" has been defined under section 2(47

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

47 are not applicable in case of calculation of books profits as per MAT. This is so because Section 115JB begins with a non obstante clause, "Notwithstanding anything contained in any other provisions of this Act. . ."; which implies that the normal provisions of the Act are not applicable to this Section. Further, capital gain

GUJARAT COMPOSITE LTD,KOLKATA vs. DCIT, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2007-08

Capital Gain by applying the provision of Section 50 of the Act. 6. Before us, Ld. Counsel has referred to the audited financial statement of AY 2004-05 as well as for the year under consideration to demonstrate how the disclosure was made therein by the statutory auditors. He referred to Note No. 12(d) contained in Schedule

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

Section 143(3) of the Income-tax Act, 1961 (the Act) dated 10th February, 2016 for 1y 2013-14 & 20th October, 2016 for A.Y. 2014-15. 02. As the issue raised are common and pertains to same assessee, these appeals have been heard together and being disposed of by this common order for sake of convenience and brevity

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

Section 143(3) of the Income-tax Act, 1961 (the Act) dated 10th February, 2016 for 1y 2013-14 & 20th October, 2016 for A.Y. 2014-15. 02. As the issue raised are common and pertains to same assessee, these appeals have been heard together and being disposed of by this common order for sake of convenience and brevity

EQUITABLE MARKETING ASSOCIATION,KOLKATA vs. ACIT, CIR-30, KOLKATA. , KOLKATA

The appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.1226/Kol/2023 Assessment Year: 2015-16 Equitable Marketing Association…………………… ........................……Appellant 82, Baburam Ghosh Road, Tollygunge, Kolkata – 700040. [Pan: Aaaae0345D] Vs. Acit, Circle-30, Kolkata…...................…................…........……...…..…..Respondent Appearances By: Shri S. S. Gupta, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 10, 2024 Date Of Pronouncing The Order : August 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 22.09.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That The Order Passed By The Ld. Assessing Officer U/S 143(3) Is Arbitrary, Bad In Law & Facts & The Ld. Cit(A), Erred In Confirming The Same In Part. 2. That The Ld. A.O Erred In Making An Addition Of Rs.1,36,67,806/- By Invoking Sec. 50C Of The Income Tax Act, 1961 & The Ld. Cit(A) Erred In Confirming The Same In As Much As In View Of The Facts & Circumstances Of The Case No Such Addition U/S 50C Was At All Called For.

47,83,928/-, 5. That the Ld. AO erred in law as well as in facts in levying/charging interest U/s 234B at Rs.15,40,638/- and interest U/s 234D at Rs.1,32,706/-, in as much as in view of the facts and circumstances of the case no such interests were at all chargeable. 6. That

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

section 2(47)(vi) which defines the term ‘transfer’. By referring to these two definitions, Ld. Sr. DR submitted that it can be easily inferred that the transaction of even leasehold property may yield long term capital gain

ACID, CIRCLE-5(1), KOLKATA, KOLKATA vs. EMAMI REALTY LIMITED, KOLKATA

In the result, both the appeal of the Revenue and cross objections of the assessee are\ndismissed

capital gains tax as per law. For attracting application of Section 194-IC, it\n10\nITA No. 1457/Kol/2024\nEmami Realty Ltd.; A.Y. 2021-22\nis necessary is to show that the payment being made by the appellant is pursuant to an\nagreement i.e. a 'specified agreement' which comes within the ambit of Section 45(5A) of\nthe Act. Only those

M/S. NKA COMMERCIAL PVT. LTD. (SUCCESSOR OF M/S. NK ENTERPRISES (P) LTD,SINCE AMALGAMATED),KOLKATA vs. ITO,WD-3(1), KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumari.T.A. No. 1106/Kol/2023 Assessment Year: 2015-2016 M/S. Nka Commercialprivate Limited,.........Appellant (Successor Of M/S. Nk Enterprises (P) Ltd. Since Amalgamated) Unit 1304, Plot No. Ai-4, Ergo Building, Ep/Gp Block, Sector-V, Salt Lake, Kolkata-700091 [Pan: Aaccn3159Q] -Vs.- Income Tax Officer,.................................Respondent Ward-3(1), Kolkata, Aayakar Bhawan, 4Th Floor, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Ankit Jalan, A.R., Appeared On Behalf Of The Assessee Shri Amitava Sen, Addl. Cit, D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : December 18, 2023 Date Of Pronouncing The Order: December 26, 2023 O R D E R

capital gain by taking into consideration the value as per stamp valuation authority and after reducing from there the cost of acquisition, a net gain of Rs.33,84,024/- was computed after invoking the provision of section 2(47

MADHUR COAL MINING PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

capital gains u/s 50D of the Act and assessed the total income at ₹16,61,52,180/-. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who, vide order dated 27.06.2025, dismissed the appeal of the assessee. ITA No.: 1784/KOL/2025 Assessment Year: 2015-16 Madhur Coal Mining Pvt. Ltd. 4. Aggrieved with the order