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420 results for “capital gains”+ Section 49clear

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Key Topics

Section 143(3)70Addition to Income65Section 6848Section 25044Section 14A43Disallowance41Section 14739Section 115J34Section 26331Deduction

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

ITA 849/KOL/2013[2006-07]Status: DisposedITAT Kolkata14 Feb 2018AY 2006-07

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

For Appellant: Shri J.P.Khaitan, Sr. CounselFor Respondent: Shri P.K.Srihari, CIT
Section 143(3)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

Showing 1–20 of 420 · Page 1 of 21

...
29
Section 143(2)28
Capital Gains22

In the result, the appeal of the assessee in ITA No

ITA 848/KOL/2013[2005-06]Status: DisposedITAT Kolkata14 Feb 2018AY 2005-06

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

For Appellant: Shri J.P.Khaitan, Sr. CounselFor Respondent: Shri P.K.Srihari, CIT
Section 143(3)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

ITA 851/KOL/2013[2008-2009]Status: DisposedITAT Kolkata14 Feb 2018AY 2008-2009

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

For Appellant: Shri J.P.Khaitan, Sr. CounselFor Respondent: Shri P.K.Srihari, CIT
Section 143(3)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

ITA 850/KOL/2013[2007-08]Status: DisposedITAT Kolkata14 Feb 2018AY 2007-08

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

For Appellant: Shri J.P.Khaitan, Sr. CounselFor Respondent: Shri P.K.Srihari, CIT
Section 143(3)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

ITA 141/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

capital gains with the help of sections 49 and 47 of the Act but did not press the technical aspect

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

ITA 32/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

capital gains with the help of sections 49 and 47 of the Act but did not press the technical aspect

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

ITA 892/KOL/2019[2014-15]Status: DisposedITAT Kolkata19 Mar 2021AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 143(3)Section 2Section 263Section 50

49. The legal fiction is to deem the capital gain as short-term capital gain and not to deem the asset as short-term capital asset. Section

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

ITA 226/KOL/2022[2015-16]Status: DisposedITAT Kolkata28 Aug 2024AY 2015-16

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

For Appellant: Shri Vinod Kumar Jain, FCAFor Respondent: Shri Subhendu Datta, CIT, DR
Section 143(3)Section 263Section 54E

gains on long term capital asset only. The asset was acquired in 1998 and gifted to the assessee in 2011. As per section 49

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

ITA 1119/KOL/2024[2016-2017]Status: DisposedITAT Kolkata19 Dec 2024AY 2016-2017

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

For Appellant: Shri Soumitra Choudhary, ARFor Respondent: Shri Prabhakar Prakash Ranjan, DR
Section 142(1)Section 45Section 50Section 50C

gains. In this order the provisions of section 50A were referred to. This section makes special provision for cost of acquisition in the case of depreciable asset. It says that where the capital asset is one in respect of which depreciation was allowed in any previous year; the provisions of sections 48 and 49

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

ITA 117/KOL/2017[2012-13]Status: DisposedITAT Kolkata16 May 2018AY 2012-13

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

Section 14Section 144C(13)Section 14ASection 14A(2)Section 92B

gains in the case of depreciable assets is not only restricted for the purposes of Section 48 or Section 49 of the Act as specifically stated therein and the said fiction created in sub-section (l) & (2) of Section 50 has limited application only in the context of mode of computation of capital

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

ITA 153/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

gains in the case of depreciable assets is not only restricted for the purposes of Section 48 or Section 49 of the Act as specifically stated therein and the said fiction created in sub-section (l) & (2) of Section 50 has limited application only in the context of mode of computation of capital

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

ITA 110/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

gains in the case of depreciable assets is not only restricted for the purposes of Section 48 or Section 49 of the Act as specifically stated therein and the said fiction created in sub-section (l) & (2) of Section 50 has limited application only in the context of mode of computation of capital

SMT SAKI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

ITA 719/KOL/2015[2009-2010]Status: DisposedITAT Kolkata21 Aug 2018AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 54E

49 of the Registration Act shows that in the eyes of law, there is no contract which can be taken cognizance of, for the purpose specified in section 53A.” 9 Smt. Sarbani Gupta & Smt. Saki Gupta, AY 2009-10 The ITAT was not correct in referring to the expression 'of the nature referred to in section 53A in section

SMT SARBANI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

ITA 720/KOL/2015[2009-2010]Status: DisposedITAT Kolkata21 Aug 2018AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 54E

49 of the Registration Act shows that in the eyes of law, there is no contract which can be taken cognizance of, for the purpose specified in section 53A.” 9 Smt. Sarbani Gupta & Smt. Saki Gupta, AY 2009-10 The ITAT was not correct in referring to the expression 'of the nature referred to in section 53A in section

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

ITA 569/KOL/2015[2006-2007]Status: DisposedITAT Kolkata26 Sept 2018AY 2006-2007

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

For Appellant: Shri Goulean Hangshing, CIT DRFor Respondent: Shri J. P. Khaitan, Sr. Counsel
Section 143(1)Section 147Section 148Section 45(3)

section 45(3) of the Act will be applicable for the Asst Year 2006-07. He observed that the value of land for which the three partner companies had incurred a cost of Rs 24,67,49,500/- and which was jointly transferred as their capital contribution to the partnership firm during the current year ended on 31.3.2006, was ultimately

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

ITA 570/KOL/2015[2006-2007]Status: DisposedITAT Kolkata01 Aug 2018AY 2006-2007

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

For Appellant: Shri Goulean Hangshing, CIT DRFor Respondent: Shri J. P. Khaitan, Sr. Counsel
Section 143(1)Section 147Section 148Section 45(3)

section 45(3) of the Act will be applicable for the Asst Year 2006-07. He observed that the value of land for which the three partner companies had incurred a cost of Rs 24,67,49,500/- and which was jointly transferred as their capital contribution to the partnership firm during the current year ended on 31.3.2006, was ultimately

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S COMMAND CONSTRUCTIONS PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

ITA 571/KOL/2015[2006-2007]Status: DisposedITAT Kolkata16 Oct 2018AY 2006-2007

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 571/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Command Constructions Private Ltd. [Pan: Aaccc5075A ] (Appellant) (Respondent)

For Appellant: Shri Md.Usman, CIT DRFor Respondent: Shri J. P. Khaitan, Sr. Counsel
Section 143(1)Section 147Section 148Section 45(3)

section 45(3) of the Act will be applicable for the Asst Year 2006-07. He observed that the value of land for which the three partner companies had incurred a cost of Rs 24,67,49,500/- and which was jointly transferred as their capital contribution to the partnership firm during the current year ended on 31.3.2006, was ultimately

INFINITY INFOTECH PARKS LTD.,KOLKATA vs. PCIT-1, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 32/KOL/2022[2017-18]Status: DisposedITAT Kolkata18 Apr 2022AY 2017-18

Bench: Shri A. T. Varkey, Jm & Shri Rajesh Kumar, Am ]

Section 143(3)Section 263Section 32Section 43(6)Section 50Section 72

capital gains arising on sale of building, plant and machinery. This was by following the decision of its Co-ordinate Bench in Digital Electronics Ltd. v. Addl. CIT [2011] 16 taxmann.com 316/[2012] 49 SOT 65. (Mum.) (URO) In Digital Electronics Ltd's case (supra) the Tribunal held that under section

AMBO AGRO PRODUCTS LTD.,KOLKATA vs. THE PCIT, KOLKATA-1, KOLKATA

In the result, appeal of assessee is allowed

ITA 676/KOL/2016[2009-2010]Status: DisposedITAT Kolkata19 May 2017AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 143(2)Section 143(3)Section 263Section 50Section 50B

gains arising from the transfer of short-term capital assets. 2) In relation to capital assets being an undertaking or division transferred by way of such sale, the "net worth" of the undertaking or the division, as the case may be, shall be deemed to be the cost of acquisition and the cost of improvement for the purposes of sections

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

The appeal of the assessee is allowed

ITA 407/KOL/2023[2018-19]Status: DisposedITAT Kolkata23 Oct 2024AY 2018-19

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

For Appellant: J.P. Khaitan, Sr. CounselFor Respondent: Abhijit Kundu, CIT DR
Section 143(3)Section 263

section 143(3) of the Act is erroneous, since 3 Russel Credit Ltd. : AY: 2018-19 the Appellant Company has relied upon the CBDT instruction no. F.NO.225/12/2016/ITA.II dated 2nd May 2016 in its submission and the Assessing Officer (AO) had followed the said CBDT instruction while allowing the profit on sale of Unlisted Preference Shares of ICICI Bank