DCIT CIR - 6,KOLKATA., KOLKATA vs. M/S K.B. CAPITAL MARKETS LTD., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

2,72,01,653/- Rs.17,01,54,227/- Less : Purchase of shares Rs.16,76,21,660/- Rs. 25,33,615/- The total expenses debited in the account is about 2.19 crores. If the table-I, table-2 and table-3 are compared, it is observed that the assessee company has misclassified the profit out of purchase and sale of shares

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

section 54(2) of the Act\nby not depositing the unappropriated amount of capital gain in the capital\ngain deposit

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

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

capital gains. Accordingly the ground raised by the revenue in this regard for the Asst Years 2006-07 and 2007-08 is dismissed. 6. ADDITION TOWARDS UNVERIFIED PURCHASES – Rs. 55,50,937/- GROUND NO. 2 IN ITA NO. 1064/Kol/2010 FOR AY 2006-07 The brief facts of this issue is that the assessee made purchases from the following parties :- Mayur

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

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

capital gains. Accordingly the ground raised by the revenue in this regard for the Asst Years 2006-07 and 2007-08 is dismissed. 6. ADDITION TOWARDS UNVERIFIED PURCHASES – Rs. 55,50,937/- GROUND NO. 2 IN ITA NO. 1064/Kol/2010 FOR AY 2006-07 The brief facts of this issue is that the assessee made purchases from the following parties :- Mayur

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

gain scheme.Therefore the eligibility of deduction u/s 54(2) is not fulfilled. Thus this ground of appeal no. 3 is dismissed.” 5.3. We have heard rival contentions and perused the material on records. As per Sub-section (2) of Section 54, amount 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

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:

54,843/- with deemed short term capital gain computed as per section 50(1) of Rs. 7,18,74,000/- in the present case. 5.2 On facts and circumstances of the case and in law, the Ld. Panel while confirming the action of Ld. AO in denying set-off u/s 74 failed to appreciate that section 50 being a deeming

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:

54,843/- with deemed short term capital gain computed as per section 50(1) of Rs. 7,18,74,000/- in the present case. 5.2 On facts and circumstances of the case and in law, the Ld. Panel while confirming the action of Ld. AO in denying set-off u/s 74 failed to appreciate that section 50 being a deeming

D.C.I.T.,CIRCLE-3(1), KOLKATA vs. SMT. SHIKHA ROY, KOLKATA

In the result, appeal of the revenue is dismissed

Section 55(2) of the Act, then the cost shall be taken as Nil. Hence the Assessing Officer was legally incorrect in his view. Thus, Hence the Assessing Officer was legally incorrect in his view. Thus, Hence the Assessing Officer was legally incorrect in his view. Thus, we uphold the finding of the ld. CIT(A) on this issue

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]

2(14) of the Act the term capital asset has been defined while providing certain exceptions and exclusions which have been specifically defined in sub-clause (i) and (vi). The Ld. A.R further submitted that as per provision of section 45(1) any profits of gain arising from the transfer of a capital asset effected in the previous year shall

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

54,843/- against the deemed short term capital 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

RAMAUTAR SARAF (HUF),KOLKATA vs. ITO, WARD 59(3),, KOLKATA

In the result, the appeal of the assessee is allowed

capital gains of the previous\nyear in which the period of three years expires. The provisions of section 54 are\nreproduced hereunder for clarity:\n\"54. Profit on sale of property used for residence.-(1) Subject to the provisions\nof sub-section (2

ACIT, CIR-35, KOLKATA, KOLKATA vs. SHRI MANOJ MURARKA, KOLKATA

In the result, the appeal of revenue is dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

section 2(22)(e) of the Act cannot be invoked in the facts and circumstances of the case. Accordingly, the grounds raised by the assessee are allowed.” 6 Manoj Murarka., AY 2006-07 6. We note from perusal of pages 56 and 57 of the paper book that the assessee had as on 08.01.2006 long term capital gain on sale

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

54, 54B, 54D,54E, 54EA, 54EB, 54F , 54G and 54H, be chargeable to income-tax under the head "Capital 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

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

2(19AA) dealing specifically with the demerger were not fully satisfied, exemption from the capital gain as per the provisions of section 47(vib) was not available. He accordingly worked out the long-term capital gain arising from the transfer of T&D Division of the assessee-company as a result of demerger at Rs.28,45,92,456/- after deducting

UTSAV JAIN,KOLKATA vs. I.T.O, WD29(4), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2009-10 Utsav Jain V/S. Ito, Ward-29(4), 90C Alipur Road, Aaykar Bhawan, 2, Kolkata-700 027 Gariahat Road, [Pan No.Agrpj 4300 R] Kolkataa-700 068 .. अपीलाथ" /Appellant ""यथ"/Respondent

capital gain – Held, yes [para 8] [in favour of assessee] ITA No.1514/Kol/2013 A.Y.2009-10 Utsav Jain v. ITO Wd-29(4) Kol. Page 7 3) Vinod Kumar Jain v. CIT (2010) 195 taxmann 174 (P & H) where head- note:- Section 2(29A) red with section 54

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)

54.[(1)][Subject to the provisions of sub-section (2), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain

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)

54.[(1)][Subject to the provisions of sub-section (2), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain

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

gains under section 48 of the Act. Sub-clause (i) of that Section states that expenditure incurred wholly and exclusively in connection with the transfer of capital asset has to be deducted from full value consideration received or accruing. Preamble of the Conveyance Deed executed by the assessee along with Shri Nita Basu reads as under :— 'THIS INDENTURE made this