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]

70 ,71 and 74. We observe from the perusal of section 2(14) of the Act that shares/securities are treated as capital asset and no exception has been provided in section 2(14) as has been provided in (i) to (vi) to the said section. Further the gain

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO,WARD-1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

70 interpreted the word ‘business’ under section 2(5- A) of the Bombay Sales Tax Act, 1959 as follows:- “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough to include any trade, commerce or manufacture or any adventure or concern in the nature of trade commerce

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO, WARD 1(3), EXEMPTION , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey]

70 interpreted the word ‘business’ under section 2(5-A) of the Bombay Sales Tax Act, 1959 as follows:- “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough to include any trade, commerce or manufacture or any adventure or concern in the nature of trade commerce

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. I.T.O., WARD - 1(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm]

70 interpreted the word ‘business’ under section 2(5-A) of the Bombay Sales Tax Act, 1959 as follows:- “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough to include any trade, commerce or manufacture or any adventure or concern in the nature of trade commerce

THE INSTITUTE OF INDIA FOUNDRYMEN,KOLKATA vs. ITO, WARD-1(3),EXEMPT, KOLKATA., KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

70 interpreted the word ‘business’ under section 2(5- A) of the Bombay Sales Tax Act, 1959 as follows:- 10 I.T.A. Nos.1228,1229 & 1230/Kol/2023 Assessment Years: 2015-16, 2016-17 & 2017-18 The Institute of Indian Foundrymen “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough

THE INSTITUTE OF INDIAN FOUNDRYMEN ,KOLKATA vs. ITO, WARD- 1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

70 interpreted the word ‘business’ under section 2(5- A) of the Bombay Sales Tax Act, 1959 as follows:- 10 I.T.A. Nos.1228,1229 & 1230/Kol/2023 Assessment Years: 2015-16, 2016-17 & 2017-18 The Institute of Indian Foundrymen “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough

THE INSTITUTE OF INDIAN FOUNDRYMEN. ,KOLKATA vs. ITO, WARD-1(3), EXEMPT, KOLKATA. , KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

70 interpreted the word ‘business’ under section 2(5- A) of the Bombay Sales Tax Act, 1959 as follows:- 10 I.T.A. Nos.1228,1229 & 1230/Kol/2023 Assessment Years: 2015-16, 2016-17 & 2017-18 The Institute of Indian Foundrymen “… No doubt, the definition of “business” given in Section 2(5-A) of the Act even without profit motive is wide enough

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

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

section 54 (1) (ii) 1,10,74,204 Short Term Capital Gain as per AO 4,19,61,865 Ram Niranjan Banka; A.Y. 2014-15 3.7. Total Long Term Capital Gains as per the assessee was computed at Rs. 7,70,25,588 as under:- From Transfer of Developer’s allocation 4,65,63,334 From Transfer of 1st Floor

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

In the result, the appeal of the assessee is allowed

capital gain account scheme as detailed above. The assessee\nwas granted provisional allotment of land as per agreement with\nUrbana on 01.09.2015, to whom ₹2,80,70,000/- was paid. We also\nnote that the assessee started the construction of the house on the\nsaid land. However, the construction could not be completed within\nthree years upto 15.06.2018, since

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

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

2, 3 and 4 relate to the Ld. CIT (A) erring in denying\nthe deduction u/s 54F of the Act on the ground that the assessee did\nnot deposit the sale proceeds of his old property in Capital Gains\nAccount Scheme, 1988 and had kept the sale proceeds of his old\nproperty in his savings bank account and fixed deposits

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

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , 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. 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

OBEROI HOTELS PRIVATE LIMITED,KOLKATA vs. DCIT,CIR-8, KOLKATA. , KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

70,000/- received by the assessee in terms of the release agreement dated 14.11.1996 represents a capital receipt, not assessable to income tax. The appeal of the assessee is allowed with no order as to costs.” 17 ITA 489/Kol /2005 ITA 1808/Kol /2006 ITA 1811/Kol /2006 Oberoi Hotels (P) Ltd 14. The following case laws, which have been relied upon

OBEROI HOTELS PRIVATE LIMITED.,KOLKATA vs. DCIT,CIR-8, KOLKATA, KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

70,000/- received by the assessee in terms of the release agreement dated 14.11.1996 represents a capital receipt, not assessable to income tax. The appeal of the assessee is allowed with no order as to costs.” 17 ITA 489/Kol /2005 ITA 1808/Kol /2006 ITA 1811/Kol /2006 Oberoi Hotels (P) Ltd 14. The following case laws, which have been relied upon

DCIT, CIR-8, KOLKATA ,KOLKATA vs. OBEROI HOTELS PVT. LTD. , KOLKATA

Bench: Shri. Rajesh Kumar () & Shri Anikesh Banerjee ()

70,000/- received by the assessee in terms of the release agreement dated 14.11.1996 represents a capital receipt, not assessable to income tax. The appeal of the assessee is allowed with no order as to costs.” 17 ITA 489/Kol /2005 ITA 1808/Kol /2006 ITA 1811/Kol /2006 Oberoi Hotels (P) Ltd 14. The following case laws, which have been relied upon