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

section 49(1), the cost of acquisition and period of holding of the donor are considered in the hands of donee. Thus the Ld. PCIT erred on fact that the property is not a long term asset when the same was acquired in 1998. The Ld. PCIT erred on law that the capital gains arising on such long term capital

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

9 Cottah 18 sq. ft was taken at Rs. 1,84,420/- per Cottah which comes to ₹16,63,488/- and the cost of acquisition of the building comes to ₹18,95,122/- for the purpose of Long-Term Capital Gain. Thereafter the ld. AO computed the Long-Term Capital Gain of the property at ₹5,18,74,075/-. Thereafter

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]

9. We find that the exemption in respect of long term capital gain accruing on transfer of listed securities on payment of STT is granted under Section

SWETA SONTHALIA,KOLKATA vs. ITO, WARD 7(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 54EC of the Act, a second proviso, which reads as under: "Provided further that the investment made by an assessee in the long-term specified asset, from capital gains arising from transfer of one or more original assets, during the 5 I.T.A. No. 207/Kol/2025 Assessment Year: 2013-14 Sweta Sonthalia financial year in which the original asset or assets

RUSSEL CREDIT LIMITED,KOLKATA vs. PCIT, KOL, KOLKATA

The appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Sanjay Awasthiassessment Year: 2018-19

section 263(1) of the Act. 4. We have carefully considered the rival contentions and gone through the documents before us with the help of both Ld. AR/DR. The primary issue that needs to be decided is whether the issues covered in the impugned order were before the Ld. AO or not. Also, whether it can be considered

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

In the result, the appeal of the assessee is allowed

9 months after the statutory deadline. The Id. CIT (A)\nnoted that it is a fundamentally legal principle that construction carried\nout without sanctioned plan is illegal and unauthorized. The Id. CIT (A)\nfurther noted that Act cannot be interpreted for grant of exemption for\naction which are not a legally compliant and thus, dismissed the\nappeal.\n6.\nAfter hearing

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

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

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

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

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

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

9 are general in nature and do not require\nany separate adjudication.\n6.1 Ground Nos. 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

SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed

gain shall be dealt with in\naccordance with the following provisions of this section, that is to say,-\"\n18. Section 54F(1) thus states that the assessee being an\nindividual or Hindu Undivided Family, who had earned capital\ngains from transfer of any long-term capital not being a residential\nhouse could claim benefit under the said Section provided

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 was a bogus claim. 9. The common issue raised before us is with regard to genuineness of the claim of exempt income under section

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 was a bogus claim. 9. The common issue raised before us is with regard to genuineness of the claim of exempt income under section

BANI BROTO BANERJEE ,KOLKATA vs. CIT(A), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 520/Kol/2023 Assessment Year: 2014-2015 Bani Broto Banerjee,…………………..…………Appellant Sanskriti, Flat – 3A, 148, Rashbehari Avenue, Near Deshapriya Park, Kolkata-700029 [Pan:Abppb0424P] -Vs.- Commissioner Of Income Tax (Appeals),……Respondent Aayakar Bhawan Dakshin, 2, Gariahat Road (South), Kolkata-700031 Appearances By: Shri Akshay Ringasia, C.A., Appeared On Behalf Of The Assessee Smt. Ranu Bisws, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : September 24, 2024 Date Of Pronouncing The Order : November 18, 2024 O R D E R

Capital Gains 9,91,00,694/- 3 Bani Broto Banerjee 5. Dissatisfied with this working, the assessee carried the matter in appeal before the ld. CIT(Appeals). The ld. CIT(Appeals) has accepted the contention of the assessee with regard to admissibility of expenditure incurred for furniture and fixtures. The finding of the ld. CIT(Appeals) on this aspect

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

CAPITAL GAIN\nSale of Items as per list enclosed\n45,45,100\nLess: (cost of acquisition etc.)\n(-) 1741068\nIndexed Cost of Acquisition\n2804032\nINCOMEFROM OTHER SOURCE\nINCOME FROMINTEREST\nInterest from Saving Bank A/c\nS/B Int.\n63565\nInterest on F.d. with banks\nF.D Int\n15885.\nINCOME FROMOTHERS\nLIC commission\n79,450\n85370\n85,370\nGROSS TOTAL INCOME\nLess:- Deduction under

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

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

9 and 21]” 8. The ld.AR invited our attention to the order of the coordinate bench of ITAT Kolkata, bearing ITA No.1808& 1811/Kol/2006 for A.Y. 2003-04 date of order 01/05/2018 where the coordinate bench has made a view related to receiving of amount as capital receipt but on the other hand, directed to tax as capital gain under section

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

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

9 and 21]” 8. The ld.AR invited our attention to the order of the coordinate bench of ITAT Kolkata, bearing ITA No.1808& 1811/Kol/2006 for A.Y. 2003-04 date of order 01/05/2018 where the coordinate bench has made a view related to receiving of amount as capital receipt but on the other hand, directed to tax as capital gain under section