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515 results for “capital gains”+ Section 90clear

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Key Topics

Addition to Income60Section 143(3)56Section 14A53Disallowance42Section 25040Deduction30Section 143(1)28Section 10(38)28Section 6826

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

ITA 1882/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

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

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

90,056/- SUBEX 1195 5,70,859/- 7,74,240/- 2,03,380/- TRIVENI 115600 59,06,817/- 1,60,72,443/- 1,01,65,625/- Grand Total 857549 6,43,84,147/- 9,07,88,198/- 2,64,04,050/- Table-2 Name of the Total No.of Total Purchase Total sale value Profit scrip shares value

Showing 1–20 of 515 · Page 1 of 26

...
Section 80I24
Section 115J22
Capital Gains22

KB CAPITAL MARKETS (P) LTD.,KOLKATA vs. D.C.I,.T CIR - 6 , KOLKATA., KOLKATA

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

ITA 1726/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

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

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

90,056/- SUBEX 1195 5,70,859/- 7,74,240/- 2,03,380/- TRIVENI 115600 59,06,817/- 1,60,72,443/- 1,01,65,625/- Grand Total 857549 6,43,84,147/- 9,07,88,198/- 2,64,04,050/- Table-2 Name of the Total No.of Total Purchase Total sale value Profit scrip shares value

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

ITA 32/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

capital gain is concerned may be deleted.” II. ITA No. 141/KOL/2020: “1. Ld. CIT(A) has erred in law as well as on facts of case in relying merely on assessee's submission without appreciating the fact that the actual intention of the assessee was to increase the value of the property from Rs. 8.50 crores to 90 crores with

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

ITA 141/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

capital gain is concerned may be deleted.” II. ITA No. 141/KOL/2020: “1. Ld. CIT(A) has erred in law as well as on facts of case in relying merely on assessee's submission without appreciating the fact that the actual intention of the assessee was to increase the value of the property from Rs. 8.50 crores to 90 crores with

THE PEERLESS GEN. FIN. & INV. CO. LTD.,KOLKATA vs. DCIT, CIRCLE-3(1), KOLKATA, KOLKATA

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

ITA 892/KOL/2019[2014-15]Status: DisposedITAT Kolkata19 Mar 2021AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 143(3)Section 2Section 263Section 50

90,55,635 5,77,97,364 12,58,271 The assessee term capital as was deptt. gain Treated it L.T. capital loss of Rs.46,43,572/- after applying const. Indexation. Short term 12,58,271 capital gain (without STT) In this connection, the assessee has pointed out that the issue at hand was before the CIT(A). Needless

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

ITA 226/KOL/2022[2015-16]Status: DisposedITAT Kolkata28 Aug 2024AY 2015-16

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

For Appellant: Shri Vinod Kumar Jain, FCAFor Respondent: Shri Subhendu Datta, CIT, DR
Section 143(3)Section 263Section 54E

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

RITA GUPTA,KOLKATA vs. DCIT, CEN. CIR.2(2), KOLKATA

In the result, the appeal of the assessee is allowed

ITA 46/KOL/2024[2014-15]Status: DisposedITAT Kolkata06 Jun 2024AY 2014-15

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 10(38)Section 132Section 2(14)Section 45Section 45(1)Section 47

90,616/- incurred from the sale of equity shares on recognized stock was rightly set off against the long term capital gain amounting to Rs. 50,00,000/- earned from the sale of unquoted equity shares of M/s IRC Infra & Reality Pvt. Ltd. The Ld. A.R referred to provision of Section

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

ITA 1119/KOL/2024[2016-2017]Status: DisposedITAT Kolkata19 Dec 2024AY 2016-2017

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

For Appellant: Shri Soumitra Choudhary, ARFor Respondent: Shri Prabhakar Prakash Ranjan, DR
Section 142(1)Section 45Section 50Section 50C

90,000/-. At this juncture, a look at section 55A becomes necessary. This is reproduced hereunder :— "55A : With a view of ascertaining the fair market value of a capital asset for the purposes of this chapter, the Assessing Officer may refer the valuation of capital asset to a Valuation Officer— (a) In a case where the value of the asset

YAMINI KHANDEL WAL,KOLKATA vs. ACIT, CIR-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 425/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

90 days of holding period based on which he bifurcated the share transactions for their treatment into capital gains versus business income. He thus, finally held that gains on sale of shares held for up to 3 months be treated as business income and for the gains on sale of shares held from three months to 12 months be treated

DCIT, CIR-36, KOLKATA, KOLKATA vs. SHRI SURAJ KHANDEL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1105/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

90 days of holding period based on which he bifurcated the share transactions for their treatment into capital gains versus business income. He thus, finally held that gains on sale of shares held for up to 3 months be treated as business income and for the gains on sale of shares held from three months to 12 months be treated

DCIT, CIR-36, KOLKATA, KOLKATA vs. SMT YAMINI KHANDELWAL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 613/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

90 days of holding period based on which he bifurcated the share transactions for their treatment into capital gains versus business income. He thus, finally held that gains on sale of shares held for up to 3 months be treated as business income and for the gains on sale of shares held from three months to 12 months be treated

SURAJ KHANDELWAL,KOLKATA vs. JCIT, RG-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1069/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

90 days of holding period based on which he bifurcated the share transactions for their treatment into capital gains versus business income. He thus, finally held that gains on sale of shares held for up to 3 months be treated as business income and for the gains on sale of shares held from three months to 12 months be treated

ITO, WARD - 12(1), KOLKATA, KOLKATA vs. M/S. LYONS & ROSES PVT. LTD., KOLKATA

In the result, the appeal of the revenue in ITA No

ITA 1148/KOL/2009[2005-06]Status: DisposedITAT Kolkata20 Jan 2016AY 2005-06

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Shri Sanjay Mukherjee, JCIT, ld. Sr.DRFor Respondent: Shri R.N Bajoria, Sr. Advocate &
Section 143(3)Section 14A

90,242/- as short term capital gains after setting off carried forward losses of Rs. 10,06,203/-. Under the head ‘business income’, the Learned AO observed that the assessee had disclosed Rs. 3,09,988/- as profit from trading in shares. The assessee was carrying on both trading and investment activity in purchase and sale of shares / units

INCOME TAX OFFICER-WARD-31(3), KOLKATA, KOLKATA vs. DILIP B BESAI (HUF), KOLKATA

In the result, the appeals of the revenue are dismissed

ITA 2799/KOL/2013[2006-2007]Status: DisposedITAT Kolkata27 Jan 2017AY 2006-2007

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

For Appellant: Shri Nicholas Murmu, JCIT, Sr.DRFor Respondent: Shri Vijay Shah, FCA
Section 10(38)Section 143(3)Section 263

90,35,034/- out of which profit on sale of investment is Rs. 1,54,32,610/- and dividend income is RS. 2,33,98,095/- , thereby resulting more than 99.47% of the income from dividend and dealing in shares and securities and mutual funds. According to him, this clearly showed that the assessee’s main activity is dealing

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

ITA 110/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

90% of the user of the aircrafts relates to business purposes and the remaining 10% relates to non-business purposes. Therefore, by applying the provisions of section 38(2) of the Act, the proportionate expenditure 5 A.Yrs.2011-12 incurred on running , repairs & maintenance of the aircrafts and depreciation were disallowed by the ld AO as under:- Expenditure on running

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

ITA 153/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

90% of the user of the aircrafts relates to business purposes and the remaining 10% relates to non-business purposes. Therefore, by applying the provisions of section 38(2) of the Act, the proportionate expenditure 5 A.Yrs.2011-12 incurred on running , repairs & maintenance of the aircrafts and depreciation were disallowed by the ld AO as under:- Expenditure on running

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

ITA 569/KOL/2015[2006-2007]Status: DisposedITAT Kolkata26 Sept 2018AY 2006-2007

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

For Appellant: Shri Goulean Hangshing, CIT DRFor Respondent: Shri J. P. Khaitan, Sr. Counsel
Section 143(1)Section 147Section 148Section 45(3)

section 147/143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 28.03.2014 for the Assessment Year 2006-07. 2. The only issue involved in this appeal is as to whether the ld CITA was justified in deleting the addition of Rs 96,37,85,635/- towards capital gains u/s 45(3) of the Act in the facts

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

ITA 570/KOL/2015[2006-2007]Status: DisposedITAT Kolkata01 Aug 2018AY 2006-2007

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

For Appellant: Shri Goulean Hangshing, CIT DRFor Respondent: Shri J. P. Khaitan, Sr. Counsel
Section 143(1)Section 147Section 148Section 45(3)

section 147/143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 28.03.2014 for the Assessment Year 2006-07. 2. The only issue involved in this appeal is as to whether the ld CITA was justified in deleting the addition of Rs 96,37,85,635/- towards capital gains u/s 45(3) of the Act in the facts

SMT SAKI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

ITA 719/KOL/2015[2009-2010]Status: DisposedITAT Kolkata21 Aug 2018AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 54E

Section 54EC) 50,00,000/- Investment in Land 3,50,500/- Investment in NH Bonds (2010-11) 50,00,000/- 1,03,50,500/- 16,34,355/- 6. Therefore, according to the assessee, Capital Gain Tax was payable on the said amount of Rs.16,34,355/-. However, during the course of assessment proceedings, the AO found that the investments

SMT SARBANI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

ITA 720/KOL/2015[2009-2010]Status: DisposedITAT Kolkata21 Aug 2018AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 54E

Section 54EC) 50,00,000/- Investment in Land 3,50,500/- Investment in NH Bonds (2010-11) 50,00,000/- 1,03,50,500/- 16,34,355/- 6. Therefore, according to the assessee, Capital Gain Tax was payable on the said amount of Rs.16,34,355/-. However, during the course of assessment proceedings, the AO found that the investments