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

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

In the result, the appeal of the assessee is allowed

capital gain derived from sale of shares was\nclaimed exempt u/s 54F of the Act. The AO however denied the\nexemption on three grounds. The first and foremost reason given by\nthe AO is applicability of proviso to Section 54F(1) of the Act. The\nproviso below sub-section (1) of Section 54F lays down certain\ndisqualification for claiming exemption

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

section 48 of the "Act". Therefore, the CIT(A) has rightly accepted the assessee's contention and deleted the addition made by the Assessing officer. Hence, qua this ground, we uphold the order of the CIT(A). 7. Subsequently this judgment and certain other judgments have also been considered by the Hon’ble ITAT, Delhi in ITA No. 6620/DEL/2019, order

PARASHNATH VINIMAY PVT. LTD.,KOLKATA vs. ADIT, CPC, BANGALORE/ ACIT, CIRCLE-2(1), KOLKATA, KOLKATA

In the result appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble

capital gain as envisaged in section 2(14) of the I.T. Act. 7. For that on the facts of the case, the Ld. CIT(A) was wrong by confirming the charging of interest u/s. 234B and 234C amounting to Rs.303,672/- and Rs.63,899/- which are completely arbitrary, unjustified and illegal. 8. For that the appellant reserves the right

GUJARAT COMPOSITE LTD,KOLKATA vs. DCIT, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2007-08

96,050. But assessee valuation report filed could not be reconciled with the sale agreement. Hence the fair market value claimed by the assessee is ignored. Value of land deducted in the fixed asset of balance sheet in AY 2007-08 of Rs.3,51,51,080 is considered. The remarks passed by the A.O. are not acceptable

ACIT, CIRCLE - 7(1) , KOLKATA vs. M/S. BRITANNIA INDUSTRIES LTD., , KOLKATA

In the result, appeal of the revenue in ITA No

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Ble

gain it was observed that the assessee has paid taxes treating it to be long term capital asset and paid concessional tax rate as provided u/s 112 of the Act. Income assessed at Rs.519,61,39,830/-. 5.1. Aggrieved the assessee preferred appeal before the ld. CIT(A) and partly succeeded. 6. Aggrieved revenue is now in appeal before this

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

Section 143(3) of the Income-tax Act, 1961 (the Act) dated 10th February, 2016 for 1y 2013-14 & 20th October, 2016 for A.Y. 2014-15. 02. As the issue raised are common and pertains to same assessee, these appeals have been heard together and being disposed of by this common order for sake of convenience and brevity

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

Section 143(3) of the Income-tax Act, 1961 (the Act) dated 10th February, 2016 for 1y 2013-14 & 20th October, 2016 for A.Y. 2014-15. 02. As the issue raised are common and pertains to same assessee, these appeals have been heard together and being disposed of by this common order for sake of convenience and brevity

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

gains of business. Relevant extract from the judgement reported in 147 taxmann.com 285 is as under: “Learned senior advocate appearing on behalf of the respondent-assessee states that in view of the amendment vide the Finance Act, 2022 with retrospective effect from 1-4-2005 to section 40(a)(ii) of the Income-tax Act, 1961, the present appeal

STERLING FINVEST PVT. LTD.,KOLKATA vs. DCIT, CIR. 5(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-5(1), Sterling Finvst Private Ltd. Aaykar Bhavan 1, Bonafide Lane, First Floor, P-7, Chowringhee Square, Vs. Kolkata-700001, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aacca8245L Assessee By : Shri Abhishek Bansal, Ar Revenue By : Shri P.P. Ranjan, Dr Date Of Hearing: 18.11.2025 Date Of Pronouncement: 19.11.2025

96,424 was shown as under Section 111A of the Act. The ld. AO treated the long-term capital gain

JAGANNATH DATTA ,KOLKATA vs. ITO,WARD-24(1),KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2010-11

section 50C but had asked to consider the market assessed value in respect of purchase cost of acquisition also for the purpose of calculating capital gains. On this submission of the assessee, Ld. AO noted that provisions of sec. 50C are applicable only to the seller and not to the buyer. Ld. AO thus, worked out the capital gain

ANIL KUMAR PAIK,KOLKATA vs. ACIT, KOLKATA

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

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 468/Kol/2023 Assessment Year: 2016-17 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 P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 21/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/11/2023 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 2016-17. 2. The Assessee Has Raised The Following Grounds Of Appeal:-

96,040)} in place of Rs.3,48,64,832/-. Hence the excess liability comes to Rs.92,56,909/-. But due to inadvertent mistyping such amount was written as Rs.48,69,666/- in the show-cause notice dtd. 06.12.2018. 2.5. The assessee submitted ledger account of inter-proprietorship bank transaction in respect of S. Paik & Co. and Anil Kumar Paik

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

OMPRAKASH DARUKA,RANIGANJ vs. ITO, WARD 3(1), , ASANSOL

In the result, appeal of the assessee is allowed

Bench: Shri George Mathanआयकर अपील सं/Ita No.685/Kol/2025 (नििाारण वर्ा / Assessment Year :2013-2014) Omprakash Daruka, Vs Ito, Ward-3(1), Asansol C/O S.N.Ghosh & Associates, Advocates, 2, Garstin Place, 2Nd Floor, Suite No.203, Off Hare Street Kolkata-700001 Pan No. : Acqpd 1122 L (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) : Shri Somnath Ghosh, Ar नििााररती की ओर से /Assessee By राजस्व की ओर से /Revenue By : Shri Shankar Naskar, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 24/07/2025 घोषणा की तारीख/Date Of Pronouncement : 24/07/2025 आदेश / O R D E R

96 of the paper book which is the copy of reasons recorded which reads as under :- 2 3 4. It was the submission of the ld. AR that on identical reasons the coordinate bench of the Tribunal in the case of wife of the assessee has quashed the reopening in the case of Anju Daruka reported in [2025] 173 taxmann.com

NARAYAN SUPPLIERS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 6(3), KOLKATA, KOLKATA

In the result, appeal of the assessee is dismissed

Gain to claim\ndeduction u/s 10(38) of the Act or Short Term Capital Loss or\nbusiness loss. But he failed to detect how your appellant is related\nwith the story. It is also beyond the Assessing Officer's as well as the\nLd. CIT(A)'s capacity because neither your appellant claimed\ndeduction

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

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

96 & 97 of the paper book. The ld. Counsel also stated that 14 Britannia Industries Limited the assessee has also filed valuation reports from the registered valuer concerning the valuation of leasehold land and building and freehold land and building and complete facts were brought before the ld. Assessing Officer. The ld. A.R. also stated that the facts were duly