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

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

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

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 54F of the Income Tax Act,\n1961 and had claimed before the Hon'ble CIT(A) in writing during the first\nappellate proceedings that his taxable capital gains was for Rs.44,63,518 only.\nSale proceeds of 3.55 Acres of land\nRs.4,17,00,000/-\nLess: Cost of acquisition of 2.81\nAcres of land in the hand

SAROJ BAID,KOLKATA vs. ITO, WARD 36(3), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

capital gain exemption under section 10(38) of the Act at Rs.1,48,58,305/- from the sale of same

SAROJ BAID,KOLKATA vs. ITO, WARD - 36(3), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

capital gain exemption under section 10(38) of the Act at Rs.1,48,58,305/- from the sale of same

MINAKSHI DAS,JALPAIGURI vs. I.T.O., WARD - 1(3),, SILIGURI

58,850/- has been taken by the Id.\nAO as income of the assessee as per ITR and thereafter again made\nthe addition on account of deposits in these bank accounts. We note\nthat the assessee has shown the income from long term capital gain\nat ₹28,04,032/-, the computation of income is available at page\nno.12

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

SAMRAT FINVESTORS PRIVATE LIMITED. ,KOLKATA vs. ITO, WARD- 10(2),KOLKATA. , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Income Tax Officer, Ward – 10(2), 20/1, Maharshi Debendra Vs Kolkata 2Nd Floor, Room No. 13A Kolkata - 700007 [Pan : Aadcs4698G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 14/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 27/06/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee In The Instant Appeal Has Raised Two Effective Issues In The Various Grounds Before Us Which Are Summed Up As Under:- (I) That The Ld. Cit(A) Has Erred On Facts & In Law In Confirming The Disallowance Of Rs.3,98,50,208/- As Made By The Assessing Officer On Account Alleged Bogus Loss In Share Trading & In F&O Segment. (Ii) The Ld. Cit(A) Has Erred On Facts & In Law In Upholding The Addition Of Rs.11,58,944/- As Made By The Assessing

58,944/- as made by the Assessing 2 I.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Officer by invoking provisions of Section 14A of the Act r.w.r. 8D(2)(iii). 3. The facts qua the first issue raised by the assessee are that the assessee, during the year, has incurred loss of Rs.3,98,50,208/- which

GOUTAM GHOSH,HOWRAH vs. P.C.I.T., KOLKATA - 13, KOLKATA

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

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

58,500/-) is being made. In view of the encompassing facts and circumstances of the case and respectfully following the ratio of judgments of Hon’ble judicial authorities as discussed in detail in the preceding paragraphs, the Assessing Officer is directed to tax income as per provisions of section 69 and section 56(2)(X) the Income

ANIL KUMAR PAIK ,KOLKATA vs. ACIT, CIR-8(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 01/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld. Commissioner, Of Income Tax (Appeals)- N.F.A.C. Acted Unlawfully In Impliedly Sustaining; The Purported Addition Of Rs. 1,67.44,907/- Made The Ld. Assistant Commissioner, Of Income Tax, Circle 8(1) Kolkata By Invoking The Mischief U/S. 43Ca Of The Income Tax Act, 1961 Without Satisfying The Parameters Thereof & The Adverse Conclusion Reached On That Behalf In Violation Of The Statutory Prescription Is Completely Unfounded, Unjustified & Untenable In Law. 2. For That The Specious Approach Of The Ld. Commissioner Of Income Tax (Appeals)-N.F.A,C. Of Misreading Evidence, Considering Improper Facts

58,472/- and on those undisclosed sales, gross profit @ 20% is estimated thus making addition of Rs.49,11,694/-. Further the ld. Assessing Officer observed that there is liability of Rs.1.65 Crores shown in the balance sheet of sole proprietorship concern M/s. S. Paik and Co.. It was submitted by the assessee that this is a loan from

SHREE GOVIND PROPERTY & INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1),, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Capital Gains of Rs. 28,80,542/ in its return of income under the head Profits and Gains of Business and Profession instead of the correct business ITA No.: 2166/KOL/2025 Assessment Year: 2018-19 Shree Govind Property & Investments Pvt. Ltd. income of Rs. 58,525/- and had duly filed a revised computation of income during the assessment proceedings and appellate

DIVYA DUGAR,KOLKATA vs. ITO, WARD-1(1), KOLKATA

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

Bench: The Itat Through The Following Grounds Of Appeal:

58,000/- 53,754 (LTCG) Share/MF 277,99,562/- 16,25,425/- 2,61,74,137/- [exempted u/s 10(38) LTCG Share 95,932/- 84,622/- 11,310/- (STCG) 65,074/- 5. For that the charging interest u/s. 234A, 234B and 234C are mechanically wrong and illegal. 6. For that the appellant reserves the right to adduce any further ground

HARJINDER SINGH GILL,KOLKATA vs. ITO, WARD-40(3)/ KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

58,00,000/- out of which Rs.2,04,50,000/- was paid simultaneously with\nthe execution of the agreement, Rs.1,60,12,000/- paid prior to execution and Rs.\n44,38,000/- incurred by the developer towards paying compensation to the tenants.\nThe memo of consideration attached to the sale agreement Rs.2,04,50,000/- to the\nvendors confirms

MANICK CHANDRA PAUL,KOLKATA vs. DCIT, CIRCLE - 8(1), KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Year: 2014-15

58,880/- on the basis of the FMV determined by the registered valuer and thus offered capital gains of Rs.93,495/-. The Ld. A.O. has not accepted the revised computation of capital gains as well as the registered valuer’s report submitted by the assessee on the plea that the valuation report is a guess work and an afterthought which

JALUIDANGA PASCHIM NASARATPUR SAMABY KRISHI UNNAYAN SAMITY LIMITED,BARDHAMAN, WEST BENGAL vs. INCOME TAX OPPFICER, WARD-1(3), BURDWAN

In the result, appeal of the assessee is partly allowed for statistical purposes

Section 37 Software purchase being capital 25,000.00 expenditure debited in profit and loss account 29,58,419.00 Income from Business/Profession 29,58,419.00 3 3.2 Computation of Total Income Income from House property NIL Income from Business or profession 29,58,419.00 Income from capital gains

THE BANK OF TOKYO-MITSUBISHI LIMITED,KOLKATA vs. ADIT, INT. TAX., KOLKATA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

Section 37 Software purchase being capital 25,000.00 expenditure debited in profit and loss account 29,58,419.00 Income from Business/Profession 29,58,419.00 3 3.2 Computation of Total Income Income from House property NIL Income from Business or profession 29,58,419.00 Income from capital gains