BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 461/Kol/2023 Assessment Year: 2018-19 Britannia Industries Ltd. Dy. Cit, Circle-7(1), Kolkata 5/1A, Hungerford Street Vs Shakespeare Sarani Kolkata - 700017 [Pan: Aabcb2066P] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Kush Kanodia, A/R Revenue By : Shri Subhendu Datta, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 19/10/2023 घोषणा क" तारीख /Date Of Pronouncement: 14/12/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned 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. 24/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal :- “1. For That On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Failed To Appreciate That The Appellant Had Suo Moto Computed & Disallowed Sum Of Rs.14,10,610/- Which Inter Alia Included Sum Of Rs.14,19,009/- Computed In Terms Of Rule 8D(2)(Ii) Being 1% Of The Value Of Tax Free Investments & Therefore The Ao Had Factually Erred In Holding That The Aforesaid Voluntary Disallowance Represented Disallowance Offered By Way Of Direct Expenditure U/S 14A Read With Rule 8D(2)(I) & Thereby Wrongly Computed Further Disallowance Of Rs.13,32,000/- In Terms Of Rule 8D(2)(Ii).

capital gain in terms of Section 45(2A) of the Act. This ground is therefore allowed for statistical purposes. 14. Now we take up Ground Nos. 7 & 8 of the appeal, which are against the Ld. CIT(A)’s action confirming the disallowance of deduction claimed u/s 80G of the Act. The facts of the case as noted

DCIT, CIRCLE - 3(1), , KOLKATA vs. M/S. THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD.,, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Ita No. 1469 & 1470/Kol/2019 Assessment Year: 2013-14 & 2015-16 Deputy Commissioner Of Income Tax, Circle-12(1), Kolkata……………….………....…........Appellant Vs. M/S. The Peerless General Finance & Investment & Co. Ltd..................……………….…..Respondent 3, Esplanade East Kolkata – 700 069 [Pan : Aabct 3043 L] Appearances By: Shri Supriyo Pal, Jcit Sr. D/R, Appearing On Behalf Of The Revenue Shri S.K. Tulsiyan, Adv. & Subrata Dey, Ca, Appeared On Behalf Of The Assessee. . Date Of Concluding The Hearing : October 31St, 2019 Date Of Pronouncing The Order : December 5Th, 2019 Order Per J. Sudhakar Reddy, Am :-

capital gains and not under the head income from business of profession. He relies on the decision of the Hon’ble Supreme Court in the case of of the Hon’ble Supreme Court in the case of Radhasoami Satsang vs. CIT Radhasoami Satsang vs. CIT ITA No. 1469 & 1470/Kol/2019 Assessment Year: 2013 Assessment Year

D.C.I.T CIR - 3(1), KOLKATA vs. M/S THE PEERLESS GENERAL FINANCE & INVESTMENT CO LTD, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Ita No. 1469 & 1470/Kol/2019 Assessment Year: 2013-14 & 2015-16 Deputy Commissioner Of Income Tax, Circle-12(1), Kolkata……………….………....…........Appellant Vs. M/S. The Peerless General Finance & Investment & Co. Ltd..................……………….…..Respondent 3, Esplanade East Kolkata – 700 069 [Pan : Aabct 3043 L] Appearances By: Shri Supriyo Pal, Jcit Sr. D/R, Appearing On Behalf Of The Revenue Shri S.K. Tulsiyan, Adv. & Subrata Dey, Ca, Appeared On Behalf Of The Assessee. . Date Of Concluding The Hearing : October 31St, 2019 Date Of Pronouncing The Order : December 5Th, 2019 Order Per J. Sudhakar Reddy, Am :-

capital gains and not under the head income from business of profession. He relies on the decision of the Hon’ble Supreme Court in the case of of the Hon’ble Supreme Court in the case of Radhasoami Satsang vs. CIT Radhasoami Satsang vs. CIT ITA No. 1469 & 1470/Kol/2019 Assessment Year: 2013 Assessment Year

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

In the result, the appeal of revenue as well as that of the assessee, both are partly allowed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

80G We find that the CIT(A) has directed the AO to examine the receipts for the donations mentioned above. He has not decided the issue. However, we feel that this issue can be verified by the AO and accordingly, this issue of revenue’s appeal is set aside and allowed for statistical purposes. 7. The next issue in this

K.B. CAPITAL MARKETS (P) LTD.,,KOLKATA vs. DCIT, CIRCLE - 6, KOLKATA, KOLKATA

In the result, the appeal of revenue as well as that of the assessee, both are partly allowed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

80G We find that the CIT(A) has directed the AO to examine the receipts for the donations mentioned above. He has not decided the issue. However, we feel that this issue can be verified by the AO and accordingly, this issue of revenue’s appeal is set aside and allowed for statistical purposes. 7. The next issue in this

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

80G of the Act on the payments made to ICC. On the said basis, the AO observed that the assessee has rendered services in relation to trade, commerce or business for a consideration and therefore the part of its activities such as holding of meetings, conferences and seminars have been treated as business activities. The Ld. A.R submitted that

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

80G of the Act on the payments made to ICC. On the said basis, the AO observed that the assessee has rendered services in relation to trade, commerce or business for a consideration and therefore the part of its activities such as holding of meetings, conferences and seminars have been treated as business activities. The Ld. A.R submitted that

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

capital gains amounting to Rs 1,36,025/- twice in the gross total income of the Appellant. 6. That on the facts and in the circumstances of the case, the Ld. DRP as well as the Ld. AO erred in not allowing deduction of u/s 80G of the Act amounting to Rs. 1,00,00,000/-. Page

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

capital gains amounting to Rs 1,36,025/- twice in the gross total income of the Appellant. 6. That on the facts and in the circumstances of the case, the Ld. DRP as well as the Ld. AO erred in not allowing deduction of u/s 80G of the Act amounting to Rs. 1,00,00,000/-. Page

PCBL LIMITED,KOLKATA vs. A.C.I.T., CIRCLE - 11(1),, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

iv) Addition of Rs. 3,24,18,037/- u/s 35(2)(ab) of the Act. v) Addition of Rs. 1,10,55,000/- deduction u/s Chapter VIA i.e. 80G vi) Addition of Rs. 2,01,35,978/- by declining the claim of deduction of education cess secondary education and higher education cess. Total income assessed

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

iv) Addition of Rs. 3,24,18,037/- u/s 35(2)(ab) of the Act. v) Addition of Rs. 1,10,55,000/- deduction u/s Chapter VIA i.e. 80G vi) Addition of Rs. 2,01,35,978/- by declining the claim of deduction of education cess secondary education and higher education cess. Total income assessed

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

iv) Addition of Rs. 3,24,18,037/- u/s 35(2)(ab) of the Act. v) Addition of Rs. 1,10,55,000/- deduction u/s Chapter VIA i.e. 80G vi) Addition of Rs. 2,01,35,978/- by declining the claim of deduction of education cess secondary education and higher education cess. Total income assessed

PRAMOD LAKRA,DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD., KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

iv) Addition of Rs. 3,24,18,037/- u/s 35(2)(ab) of the Act. v) Addition of Rs. 1,10,55,000/- deduction u/s Chapter VIA i.e. 80G vi) Addition of Rs. 2,01,35,978/- by declining the claim of deduction of education cess secondary education and higher education cess. Total income assessed

PRAMOD LAKRA,DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -11(1), KOLKATA, KOLKATA vs. PHILIPS CARBON BLACK LTD , KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

iv) Addition of Rs. 3,24,18,037/- u/s 35(2)(ab) of the Act. v) Addition of Rs. 1,10,55,000/- deduction u/s Chapter VIA i.e. 80G vi) Addition of Rs. 2,01,35,978/- by declining the claim of deduction of education cess secondary education and higher education cess. Total income assessed

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A.R. STANCHEM (P) LTD., KOLKATA

In the result, appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2013-14

80G(5)(vi) Income Tax 15 A R. Stanchem (P) Ltd. AY: 2013-14 of the I.T. Act, /04-05 (Exemption), 1961 (made Kolkata DIT(E)/3248/SE/2 12.12.2011 perpetual) 3/04-05 Registration Initial order no. 27.02.2004 CCIT-III, Kolkata u/s 10(23C) of 49 16.01.2014 the I.T. Act Renewal vide No. CCIT- III/10(23C)(iv)/11 -12/245 Recognition of Renewal till

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

iv) Hindusthan paper Corporation No.47/Kol/2012. Ltd. in ITA\nNO.47/KOL/2012\nThe aforesaid judgements will not support the case of the assessee\nas the same are rendered in the different facts altogether. In the\naforesaid decisions, the ratio was that only those expenditures which\nhas nexus to the exempt income are to be disallowed. However in the\npresent case the nexus between

D.C.I.T., CIRCLE-10, KOLKATA, KOLKATA vs. M/S RAMUK SCAN INVESTMENT PVT.LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

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

gains" occurring in s. 57(iii) and, therefore, the scope for allowed a deduction under s. 36(1) (iii) or s. 37 would be must wider than the one available under s.57(iii): Madhav Prasad Jatia v. CIT [1979] 1181TR 200. The Hon'ble Supreme Court in the case of S.A. Builders Ltd. v. CIT(Appeals

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

80G(5)(vi) 05 Income Tax of the I.T. Act, (Exemption), 1961 (made DIT(E)/3248/SE/23/04- 12.12.2011 Kolkata perpetual) 05 Registration Initial order no. 49 27.02.2004 CCIT-III, u/s 10(23C) of Kolkata Renewal vide No. CCIT- 16.01.2014 the I.T. Act III/10(23C)(iv)/11- 12/245 Recognition of Renewal till 31.03.2016 01.04.2013 Government of Scientific and vide Communication No. India