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 asset, includes,— (i) the sale, exchange or relinquishment of the asset; or (ii) the extinguishment of any rights therein

SRI BIJAY SHANKAR HALWASIYA,KOLKATA vs. ITO, WARD - 44(4), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 2353/Kol/2016 & I.T.A. No. 910/Kol/2018 Assessment Years : 2007-08 & 2009-10 Shri Bijay Shankar Halwasiya -Vs- Ito, Ward-44(4) , Kolkata [Pan: Aaqph 4752 A] (Appellant) (Respondent)

capital gains arise only in the year in which possession of the land was handed over to the developer pursuant to the provisions of section 2(47)(v) of the Act read with Section 53A

SRI BIJAY SHANKAR HALWASIYA,KOLKATA vs. ITO, WARD 44(4)/ KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 2353/Kol/2016 & I.T.A. No. 910/Kol/2018 Assessment Years : 2007-08 & 2009-10 Shri Bijay Shankar Halwasiya -Vs- Ito, Ward-44(4) , Kolkata [Pan: Aaqph 4752 A] (Appellant) (Respondent)

capital gains arise only in the year in which possession of the land was handed over to the developer pursuant to the provisions of section 2(47)(v) of the Act read with Section 53A

D.C.I.T CIR - 6,KOLKATA, KOLKATA vs. M/S KILBURN ENGINEERING LTD, KOLKATA

In the result, appeal by the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2009-10

capital gain, as the case may be, will be charged under section 54B(2) of the Act. 9. The Assessee also placed reliance on the decision of the Hon’ble ITAT Pune Bench "A ", Pune in the case of Shri Mahesh Nemichandra Ganeshwade v/s Income- tax Officer, Wd 3(4), Pune, dated 29/03/2012 laying down identical proposition

JENNIFFER CHAKRAVARTY,SILIGURI vs. DCIT, CIR-3, SILIGURI, SILIGURI

In the result, the appeal filed by the Revenue (in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.400/Kol/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Dcit, Circle-1, Siliguri Vs. Smt. Jennifer Chakraborty St. Michael’S School, 2Nd Mile, Sevoke Road, Aayakar Bhawan, Paribahan Nagar, Matigra, Siliguri, Pin-734010. Siliguri "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acppc 9278 B (Revenue) .. (Assessee)

gains'. The term 'capital asset' has been defined in section 2(14) of the Act, to mean property of any kind held by an assessee. But, when it comes to transfer for the purpose of levy of income-tax u/s2(47)(v), of the Act, the handing over of possession coupled with performance of the conditions specified in section 53A

DCIT, CIR-1, SILIGURI, SILIGURI vs. SMT JENNIFER CHAKRABORTY, SILIGURI

In the result, the appeal filed by the Revenue (in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.400/Kol/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Dcit, Circle-1, Siliguri Vs. Smt. Jennifer Chakraborty St. Michael’S School, 2Nd Mile, Sevoke Road, Aayakar Bhawan, Paribahan Nagar, Matigra, Siliguri, Pin-734010. Siliguri "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acppc 9278 B (Revenue) .. (Assessee)

gains'. The term 'capital asset' has been defined in section 2(14) of the Act, to mean property of any kind held by an assessee. But, when it comes to transfer for the purpose of levy of income-tax u/s2(47)(v), of the Act, the handing over of possession coupled with performance of the conditions specified in section 53A

STEWARTS & LLOYDS OF INDIA LIMITED,KOLKATA vs. COMMISSIONER OF INCOME TAX, KOL - I, KOLKATA

In the result the appeal by the Assessee is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2004-05 Stewarts & Lloyds Of India Ltd. -Versus- C.I.T., Circle-1, Kolkata Kolkata (Pan:Aaecs 0445G) (Appellant ) (Respondent)

section 53A of the Transfer of Property Act, 1882”. The Assessee pointed out that Sec.2(14) of the Act defines “Capital Asset” to mean property of any kind “held by an Assessee”. The expression “held by an Assessee” only means that “de jure” ownership is not a condition precedent for regarding a person as owner of a capital asset

SHELTER PROJECTS LTD.,KOLKATA vs. CIT, (A)-XII, KOLKATA, KOLKATA

In the result, the appeal of assessee is partly allowed

53A of 1882 Act and consequently Section 2(47)(v) of the Act does not apply. 5. It was submitted by Learned counsel for the assessee appellant that whatever amount was received from the developer, capital gains

MALLIKA INVESTMENT CO. (P) LTD.,KOLKATA vs. ITO, WD-4(2), KOLKATA, KOLKATA

In the result, the appeal by the assessee is allowed for statistical purposes

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 1245/Kol/2015 Assessment Year: 2008-09

53A” in section 2(47)(v) in order to arrive at the impugned conclusion , so we are inclined to set aside the impugned order. However, we note that any profit or gain arising from the transfer of a capital

ACIT, CIR-22, KOLKATA, KOLKATA vs. MRS SHEELA CHOPRA, KOLKATA

Bench: Shri Aby.T Varkey & Shri Waseem Ahmedassessment Year :2006-07 Acit, Circle-22, 169 V/S. Mrs. Sheela Chopra, A.J.C. Bose Road, 8Th R-604, The Residency, Floor, Kolkata-14 City Centre, Block Dc, Sector-1, Salt Lake City, Kolkata-700 064 [Pan No.Abwpc 6131 D] .. अपीलाथ" /Appellant ""यथ"/Respondent

Capital Gain (STCG for short) was taxable in the hands of the assessee. On question by the AO for treating the gain as STCG, the assessee submitted that the flat was acquired in September 2000 in terms of the provisions of section 53A

M.M. EXPORTS,KOLKATA vs. ITO, WARD - 42(1), KOLKATA [MERGED WITH WARD - 43(1)], KOLKATA

In the result the appeal by the assessee is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2007-08

53A of the Transfer of Property Act, 1882. New sub-clauses (v) and (vi) have been inserted in section 2(47) to prevent avoidance of capital gains

ITO, WD-12(1), KOLKATA, KOLKATA vs. M/S WHITE CLIFF PROPERTIES (P) LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi

Section 53A of the TP Act. Once this is so, then the clause 2(47) of the IT Act 1961 cannot be applied to the facts of the case and in fact no capital gains

ITO, WARD 35(2), KOLKATA, KOLKATA vs. SMT. NALINI BOTHRA, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1405/Kol/2017 Assessment Year : 2014-15 Ito, Ward-35(2), Kolkata -Vs- Smt. Nalini Bothra. [Pan: Adrpb 5103 F] (Appellant) (Respondent)

capital gains - Rs 1,39,413/- Income from other sources - Rs 6,16,494/- ------------------ Rs 7,56,907/- Less: Deductions under Chapter VIA Rs 1,18,479/- ------------------ Rs 6,37,428/- ------------------ 3.1. The assessee along with a co-owner Mr Manoj Kumar Bothra (husband of assessee) jointly received an allotment offer letter from South City Projects (Kolkata) Ltd vide their

ABC INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE 11(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Abc India Limited Dcit, Circle 11(1) 40/8, Ballygunj, Circular Road, Aayakar Bhawan, Chowringhee Kolkata, West Bengal-700019 Square, Kolkata-700069 Vs. West Bengal (Appellant) (Respondent) Pan No. Aacca2035J Assessee By : Shri S.K. Pransukhka, Ar Revenue By : Shri Sanjib Kumar Paul, Dr Date Of Hearing: 16.02.2026 Date Of Pronouncement: 15.04.2026

capital gain is being adjudicated for the sale of offices at BGTA Mumbai. The main claim of the assessee is that the same gain has already been computed in the computation of AY 2016-17. Assessee claimed that registry of the same has been taken place in AY 2022-23 only. However, AO has observed that the agreement for sale

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

gains arising there from should be computed as short- term capital asset. To examine the correctness of such decision, it is to necessary to take note of the definition of 'short-term capital asset' under section 2(42A). [Para 8] ■ In terms of the above definition, short-term capital asset means a capital asset held by an assessee

M/S. STP LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, appeal filed by the assessee is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. Dcit, Circle-10, Kolkata M/S Stp Limited C/O. G.P. Agarwal & Associates, 7A, Kiran Shankar Ray Road, 2Nd Floor, Kol-1. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs6339M .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

gains. Before we go into further analysis, first we will take a look at section 2(14), which defines Capital Asset' and section 2(47) which defines Transfer'. Section 2(14) reads as under: "Capital asset "means property of any kind held by an assessee, whether or not connected with his business or profession, but does not include

MEDICARE TPA SERVICE (I) PVT. LTD., ,KOLKATA vs. PRINCIPAL CIT, KOL - 4, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi] I.T.A. No. 1045/Kol/2018 Assessment Year: 2013-14 Medicare Tpa Service (I) Pvt. Ltd………………………......…………………………………………Appellant 6B, Bishop Lefroy Road Ground Floor 10, 6B, Paul Mansion Bhowanipore Kolkata – 700 020 [Pan : Aadcm 1682 L] Pr. Commissioner Of Income Tax, Kolkata -4..................................................…..…......Respondent Appearances By: Shri Subash Agarwal, Adv., Appeared On Behalf Of The Assessee. Shri A.K. Nayak, Cit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : April 22Nd, 2019 Date Of Pronouncing The Order : May 10Th , 2019 O R D E R Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Principal Commissioner Of Income Tax, Kolkata - 4, (Ld. Pr. Cit) Passed U/S. 263 Of The Income Tax Act, 1961, (The ‘Act’), Dt. 27/02/2018, For The Assessment Year 2013-14. 2. At The Outset We Find That There Is A Delay Of 13 Days In Filing Of This Appeal. After Perusing The Petition For Condonation, We Are Convinced That The Assessee Was Prevented By Sufficient Cause From Filing The Appeal On Time. Hence The Delay Is Condoned & The Appeal Is Admitted. 3. The Assessee Is A Company & Is In The Business Of, Health Insurance Claim Processing Etc. It Filed Its Return Of Income On 30/09/2013, Declaring Income Of Rs.4,80,10,710/-. The Assessing Officer Completed Assessment U/S 143(3) Of The Act, Determining The Total Income Of The Assessee At Rs.5,37,81,250/- Under The Normal Provisions & At Rs.2,72,98,018/- As Book Profit U/S 115Jb Of The Act. The Ld. Pr. Cit, Issued A Showcause Notice Dt. 04/2/2017 Proposing Revision Of The Assessment Order Passed U/S 143(3) Of The Act On 04/12/2015, By Invoking His Powers U/S 263 Of The Act,On The Following Points:-

Section 53A of the Act and hence there is no transfer u/s 2(47) of the Act. He argued that as the document in question was an unregistered document, there cannot be any transfer u/s 2(47) of the Act. He further relied on this judgment for the proposition that, the income from capital gain

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

In the result appeal by the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] Assessment Year : 2005-06

Capital Gains" in terms of Section 53A of the Transfer of Property Act, 1882 read with Section 2(47)(iv) of the Income