DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09

depreciation was allowed in earlier years. 34 I.T.A. No. 1749/Kol/2016 C.O. No. 64/Kol/2016 A/o. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 I.T.A. No. 1750/Kol/2016 C.O. No. 65/Kol/2016 A/o. I.T.A. No. 1750/Kol/2016 Assessment Year: 2009-10 I.T.A. No. 1829/Kol/2016 C.O. No. 66/Kol/2016 A/o. I.T.A. No. 1829/Kol/2016 Assessment Year: 2010-11 I.T.A. No. 1830/Kol/2016 C.O. No. 67/Kol/2016 A/o. I.T.A. No. 1830/Kol/2016 Assessment

DCIT CIR-4(1), KOLKATA, AAYAKAR BHAWAN vs. MCLEOD RUSSEL INDIA LTD, KOLKATA

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

115O an amount of Rs. 63,92,344/-, disallowance of expenditure u/s 14A an amount of Rs. 26,14,568/-, deduction claimed u/s 80IE an amount of Rs. 1,02,16,66,888/- an assessed the total income of the assessee at Rs. 1,01,86,47,760/-. 4. Aggrieved by the said order the assessee preferred an appeal before

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

depreciable fixed asset is a short term capital gain and is liable for levy of tax at normal tax rates and not under special rate provided u/s 112 of the Act. Thus, Ground No. 4 of the revenue is allowed. 21. Ground No. 5 is general in nature. 22. Now, we take up the grounds raised in the Cross-objection

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S PHILIPS INDIA LTD., KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Depreciation & Amortization 12,570,870.00 Pg 53 AR 2011 Operating expenditure 163,352,592.00 Operating profit 26,137,865.00 OP/OC 16.00% Reconciliation Add: Other income 418,608.00 Pg 53 AR 2011 Less; Interest 1,851,986.00 Pg 53 AR 2011 PBT 242,704,487.00 PBT as penalty Financials 24,704,487.00 Pg 53 AR 2011 Difference -- The TPO is directed

M/S PHILIPS INDIA LTD.,KOLKATA vs. DCIT, CIR-12(2), KOLKATA, KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Depreciation & Amortization 12,570,870.00 Pg 53 AR 2011 Operating expenditure 163,352,592.00 Operating profit 26,137,865.00 OP/OC 16.00% Reconciliation Add: Other income 418,608.00 Pg 53 AR 2011 Less; Interest 1,851,986.00 Pg 53 AR 2011 PBT 242,704,487.00 PBT as penalty Financials 24,704,487.00 Pg 53 AR 2011 Difference -- The TPO is directed