ITO, WARD-2(2), KOLKATA, KOLKATA vs. M/S. DATEX OHMEDA (INDIA) PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap & Smt. Madhumita Roy

section 50B, was not justified. The ld. CIT(Appeals) accordingly deleted the addition of Rs.28,45,92,456/- made by the Assessing Officer to the total income of the assessee on account of long-term capital gain. Aggrieved by the order of the ld. CIT(Appeals), the revenue has preferred this appeal before the Tribunal on the following grounds:- “1

WELLMAN COKE INDIA LIMITED,KOLKATA vs. DCIT, CIR-5(1), KOL, KOLKATA

In the result, the appeal of the assessee is allowed as per terms indicated hereinabove

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

1) of the Act along with the return of income using a Digital Signature Certificate and in absence thereof, the long-term capital gain/ loss from slump sale claimed under section 50B

SAMIR KUMAR MAITY,HOWRAH vs. I.T.O WD - 48(2),KOLKATA, KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

1. That on facts and circumstances of the case and in law the Ld. CIT(A) has grossly erred in upholding the determination of Long Term Capital Gain at an amount of Rs.3727532/-, arrived at in the manner prescribed Vis 50B, even after specifically emphasizing and concluding the inapplicability of the section

ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. MCNALLY BHARAT ENGINEERING COMPANY LIMITED, KOLKATA

Appeal is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A No.1369/Kol/2019 ("नधा"रण वष" / Assessment Year: 2009-10) Acit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Co. Ltd. 4, Mangoe Lane, 7Th Floor, Kolkata. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent)

capital gains addition made by the assessing authority by invoking section 50B of the Act. The Revenue fails in its second substantive grievance as well. 9. Lastly comes the third issue of provision for leave encashment disallowance of Rs.82,13,368/-. The Assessing Officer invoked section 43B(f) of I.T.A No.1369/Kol/2019 M/s. Mcnally Bharat Engineering Co. Ltd. the Act that

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. XPRO INDIA LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasusdevan & Shri Waseem Ahmedassessment Year :2005-06

1. On the facts and in the circumstance of the case and in law, Ld. CIT(A) erred in deleting the Capital Gain amounting to Rs.10,92,09,696/- u/s 50B of the IT Act treating the transfer slump sale as per provision of section

D.C.I.T CIR - 11,KOLKATA, KOLKATA vs. M/S PHILIPS ELECTRONICS INDIA LTD, KOLKATA

In the result, the appeal filed by assessee is allowed and that of Revenue stands dismissed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

capital gains invested in the bonds which are redeemable after three years and issued by the National Highways Authority of India or by the Rural Electrification Corporation Ltd., on or after 1-4-2006. There is no limitation for the investment. However, the Central Government later issued a Notification No. 380/2006, F. No. 142 of 2006-TPL, dated

PHILIPS ELECTRONICS INDIA LTD.,KOLKATA vs. D.C.I.T CIR - 11,KOLKATA, KOLKATA

In the result, the appeal filed by assessee is allowed and that of Revenue stands dismissed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

capital gains invested in the bonds which are redeemable after three years and issued by the National Highways Authority of India or by the Rural Electrification Corporation Ltd., on or after 1-4-2006. There is no limitation for the investment. However, the Central Government later issued a Notification No. 380/2006, F. No. 142 of 2006-TPL, dated

D.C.I.T CIR - 7,KOLKATA., KOLKATA vs. BHAGIRATH AGARWAL, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

50B of the Act provides that any profit or gain arising from the slump sale effected in the previous year shall be chargeable to income-tax as capital gain arising from the transfer of long-term capital assets and shall be deemed to be the income of the previous year in which the transfer took place. Further, Section

AMBO AGRO PRODUCTS LIMITED,KOLKATA vs. PR. CIT-3, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 2025/Kol/2016 Assessment Year : 2009-10 M/S Ambo Agro Products Ltd. -Vs- Pr.Cit-3, Kolkata. [Pan: Aaeca 5908 Q] (Appellant) (Respondent)

Section 144C(5) determining the total income at Rs. 30,98,86,270/- predominantly comprising of long term capital gain. Later the Ld. Pr. CIT issued show cause notice dated 12.08.2015 u/s 263 of the Act seeking to revise the order passed by the ld. AO on the following grounds: a) The ld. AO has not examined short term capital

M/S AKZO NOBEL INDIA LTD. (FORMERLY KNOWN AS ICI INDIA LTD.),KOLKATA vs. THE DCIT, CIRCLE - 10, KOLKATA, KOLKATA

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

1 to section 2(19AA) of the Act and the transfer of the undertaking was on slump sale to another company, the same would have to be treated as slump sale of undertaking u/s 50B of the Act. It was pleaded that the shareholding of 49% by the assessee in the Joint Venture company to which the undertaking has been

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S ICI INDIA LTD, KOLKATA

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

1 to section 2(19AA) of the Act and the transfer of the undertaking was on slump sale to another company, the same would have to be treated as slump sale of undertaking u/s 50B of the Act. It was pleaded that the shareholding of 49% by the assessee in the Joint Venture company to which the undertaking has been

M/S. KANORIA CHEMICALS & INDUSTRIES LTD., ,KOLKATA vs. ADDITIONAL CIT, RANGE - 10, KOLKATA

Bench: Shri Sanjay Garg & Dr. M.L.Meenaआयकर अपील सं.य/ Assessment Year:2012-13 बनाम / M/S. Kanoria Chemicals & Addl. Cit, Range-10, Industries Ltd Kolkata V/S. C/O Salapuria Jajodia & P-7 Chowringhee Co. 7 Chittaranjan Square, Kolkata-700 Avenue, Kolkata-72. 069. Pan: Aabck1291K अपीलाथ" /Appellant ""यथ" /Respondent .. आयकर अपील सं.य/ Assessment Year:2012-13 बनाम / Dcit, Circle-10 M/S. Kanoria P-7 Chowringhee Square, Chemicals & Industries V/S. 3Rd Kolkata-700 069, Limited, Park Plaza, 7Th Fl., 71 Park Street, Floor. Kolkata-700 016. अपीलाथ" /Appellant ""यथ" /Respondent ..

Capital Gain so offered by the appellant in respect of the slump sale under section 50B of the "Renukoot Unit" needs to be recomputed due to the adjustments in the costs of the corresponding Plant & Machinery of such unit in Assessment years 2008-09 to 2011-12 and in view of the facts and in the circumstances it may kindly

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

1 to 4 are dismissed.\n4.\nThe issue raised in Ground No. 5 is against the Ld. CIT(A)'s finding quashing the\ndirection given by AO to make protective addition u/s 56(2)(x) of the Act in AY 2020-21. After\nhearing the rival contentions, since we have upheld the Ld. CIT(A)'s deleting the substantive\naddition

DCIT, CIRCLE-1(1), KOLKATA, KOLKATA vs. M/S. KILBURN OFFICE AUTOMATION LTD., KOLKATA

In the result, appeal of the revenue is dismissed

1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was justified in deleting the addition of Rs.1,34,33,250/- ignoring the provisions contained in section 50B of the I.T. Act, 1961. 2. Whether on the facts and in the circumstances of the case