DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

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

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

depreciation which have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year. " 7.2 Section 211(1), 211(2), 211(3), 211(3A), 211(3B) and 211(3C) of Companies Act 1956: 211. FORM AND CONTENTS OF BALANCE SHEET AND PROFIT AND LOSS

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, the appeal of the Revenue is dismissed

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

depreciation which have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year. " 7.2 Section 211(1), 211(2), 211(3), 211(3A), 211(3B) and 211(3C) of Companies Act 1956: 211. FORM AND CONTENTS OF BALANCE SHEET AND PROFIT AND LOSS

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

depreciation which have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year. " 7.2 Section 211(1), 211(2), 211(3), 211(3A), 211(3B) and 211(3C) of Companies Act 1956: 211. FORM AND CONTENTS OF BALANCE SHEET AND PROFIT AND LOSS

M/S. HIMADRI CHEMICALS & INDUSTRIES LTD., (NOW KNOWN AS HIMADRI SPECIALITY CHEMICAL LTD.),KOLKATA vs. PCIT, CENTRAL-1, KOLKATA, KOLKATA

Bench: Shri Aby. T. Varkey & Shri M. Balaganeshi.T.A. No.819/Kol/2017 (Assessment Year 2011-12) M/S. Himadri Chemicals & Pcit, Central-1, Kolkata. Industries Ltd. -Vs- [Now Known As Himadri Specialty Chemical Ltd.] [Pan :Aaach 7475 H] (Appellant) .. (Respondent) For The Appellant Shri S.K. Tulsiyan, Advocate For The Respondent Dr. P. K. Srihari, Cit(Dr) Date Of Hearing 03.04.2019 Date Of Pronouncement 05.04.2019

depreciation, (h) the amount of deferred tax and the provision therefor, (i) the amount or amounts set aside as provision for diminution in the value of any asset, (j) the amount standing in revaluation reserve relating to revalued asset on the retirement or disposal of such asset, (k) the amount of gain on transfer of units referred to in clause

M/S. MATERIALS CHEMICALS AND PERFORMANCE INTERMEDIARIES PVT. LTD. (FORMERLY, MCC PTA INDIA CORP. PRIVATE LTD.),KOLKATA vs. ACIT, CIRCLE 11, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Dr. Manish Borad & Shri Anikesh Banerjee]

115J of the Act or whether only on the manner of computation specified in those sections should be followed to quantify the amount of deduction. vii. Order of the Ld CIT(A) for the A.Y 2003-04 passed on 13.08,2014 In Appeal No. 398/XII/Cir-11/09-10. 3. Having carefully perused the action of the Ld AO, and the submissions

M/S. PEERLESS HOSPITEX HOSPITAL & RESEARCH CENTRE LTD.,KOLKATA vs. DCIT, CIRCLE - 11(2), KOLKATA, KOLKATA

In the result, both appeals of the assessee( in ITA No

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14)

115J to 115JB) of the Act since the said sections starts with a Non-Obstante Clause. We note that the submissions of the assessee in this respect were not at all discussed by the learned CIT(A) in his order. Instead, he dismissed the appeal of the assessee on an altogether new ground that the entire brought forward losses

M/S. PEERLESS HOSPITEX HOSPITAL & RESEARCH CENTRE LTD.,KOLKATA vs. DCIT, CIRCLE - 11(2), KOLKATA, KOLKATA

In the result, both appeals of the assessee( in ITA No

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14)

115J to 115JB) of the Act since the said sections starts with a Non-Obstante Clause. We note that the submissions of the assessee in this respect were not at all discussed by the learned CIT(A) in his order. Instead, he dismissed the appeal of the assessee on an altogether new ground that the entire brought forward losses

UMANG GOENKA,KOLKATA vs. ACIT, CIRCLE-31, KOLKATA, KOLKATA

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

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.165/Kol/2019 ("नधा"रणवष" / Assessment Year: 2015-16)

Section 80IC(8)(ix) which is reproduced as under: “Substantial expansion means increase in the investment in the Plant & Machinery by at least 50% of the book value of Plant & Machinery (before taking depreciation in any year) as on the 1st day of the previous year in which the substantial expansion was undertaken” Thus, on the basis of the substantial

THE UNITED PROVINCES SUGAR COMPANY LTD., ,KOLKATA vs. ITO, WARD - 12(2), KOLKATA

In the result, appeal of the assessee is allowed

depreciation and had deleted the adhoc disallowance made by the Assessing Officer, the gross total and had deleted the adhoc disallowance made by the Assessing Officer, the gross total and had deleted the adhoc disallowance made by the Assessing Officer, the gross total income of the assessee as well as the total income was Nil and there