RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

127 on account of payment of service tax by the Appellant which may kindly be deleted. 7. 0n the facts and in the circumstances of the case and in law the C.I.T.(A) erred in confirming the disallowance of Rs.9,11,407 on account of payment of license fees by the Appellant which may kindly be deleted

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

127 on account of payment of service tax by the Appellant which may kindly be deleted. 7. 0n the facts and in the circumstances of the case and in law the C.I.T.(A) erred in confirming the disallowance of Rs.9,11,407 on account of payment of license fees by the Appellant which may kindly be deleted

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

127 on account of payment of service tax by the Appellant which may kindly be deleted. 7. 0n the facts and in the circumstances of the case and in law the C.I.T.(A) erred in confirming the disallowance of Rs.9,11,407 on account of payment of license fees by the Appellant which may kindly be deleted

VEERPRABHU AUTO PVT. LTD.,KOLKATA vs. A.C.I.T., CC - 2(4), KOL, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

depreciation, repairs & maintenance and computed the income from house property as per the provision of the Act and assessed the total income at ₹6,43,000/- u/s 143(3) of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who dismissed the appeal of the assessee by holding as under: “The main

COMMUNITY FOR SOCIAL WORK,KOLKATA vs. ITO, EXEMPTION, WARD-1(1), KOLKATA, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Sri Sanjay Garg & Sri Girish Agrawal

depreciation was claimed as per the provision of Section 32 of the I.T. Act, 1961. 7. For that on the facts and in the circumstances of the case the Ld. C.I.T.(Appeals) should have considered that the assessee-society is registered u/s. 12AA of the Act & obtained approval u/s. 80G of the Act & as such the society was entitled

ARSH IRON & STEEL LTD.,BURDWAN vs. ACIT, CIR-3, ASANSOL, ASANSOL

In the result, assessee’s appeal is partly allowed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation as provided u/s. 32(1)(iia) of the Act. Thus, the additional ground of assessee’s appeal is allowed for statistical purposes. 32. In the result, assessee’s appeal stands allowed partly for statistical purpose. Coming to ITA No.207/Kol/2014 for A.Y. 10-11. 33. First interconnected issue raised by assessee in grounds No. 2 to 7 of this appeal

GLOSTER LIMITEDN (FORMERLY KNOWN AS GLOSTER JUTE MILLS LIMITED ),KOLKATA vs. CIT-1, KOLKATA, KOLKATA

In the result the appeal of assessee is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Depreciation schedule of the TAR. Please explain the difference. (b) In ref. to 13(e) of the TAR, capital subsidy receivable Rs.1.5 crore was credited to Capital reserve a/c Interest subsidy of Rs.15003609/- was credited in the P&L a/c. Another subsidy of Rs.720000/- was received from Ministry of Textile, Govt. of India. Again as per point no.2 of Notes

DCIT, C-1, KOLKATA, KOLKATA vs. NABA DIGNATA WATER MANAGEMENT LTD., KOLKATA

In the result, appeal of the Revenus is hereby dismissed and cross objection filed by the assessee is not press in view of our findings on forgoing

Bench: proceeding for disallowances the AO has conducted necessary examination and ground work, which are evident from the recordings of note-sheet.

depreciation under section 32(1)(ii) of the Act be allowed by considering the 'right/license to build, operate and transfer agreement and collect the charges' as an intangible asset.” 4. At the time of hearing, Ld. DR stated that there is delay of 127

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, DURGAPUR, DURGAPUR vs. SRI GAYATRI MINERALS PVT. LTD., DURGAPUR

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

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

Depreciation + 1,39,66,127/ + 1,20,95,780/ I.T.A. No.: 1324/KOL/2023 Assessment Year: 2011-12 Sri Gayatri Minerals Pvt. Ltd. GROSS PROFIT Rs. 18,33,66,568/ Rs. 18,21,83,426/ G.P. Ratio 13.56% 11.68% Fall in G.P. Ratio = 13.56% - 11.68% = 1.88% Addition on account of fall in G.P. Ratio =1558481950*1.88 /100

M/S INTEGRATED EDUCATION RESEARCH CENTRE FOR ENGINEERING AND MANAGEMENT,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA, KOLKATA

In the result the appeal is allowed while the stay application is dismissed

Bench: Shri N.V. Vasudevan & Shri M.Balaganesh

Section-V, Salt Lake City, Kolkata-700 091 PAN AAATI3264L APPELLANT/APPLICANT RESPONDENT/RESPONDENT Assessee by : Mr.S.M.Surana, Advocate Revenue by : Mr.Snehotpal Datta, JCIT Date of hearing : 20.5.2016 Date of Pronouncement : 01.06.2016. O R D E R Per N.V. Vasudevan, Judicial Member The Assessee had filed the above stay application praying for an order of stay of recovery of outstanding demand of Rs.24

ITO(E), WD-1(4), KOLKATA, KOLKATA vs. PANCHAJANYA TRUST, KOLKATA

In the result, the appeal of the Assessee is allowed and the appeal of the Revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

depreciation was in that case was ploughed back for user on account of charity. It cannot be disputed that a building used for the purpose of charity diminishes in value over the time like any other building. Therefore, providing for such diminution of value would keep the corpus of the trust intact otherwise the corpus of the trust itself

PANCHAJANYA TRUST,KOLKATA vs. ITO, (EXEMPTION), WARD-1(4), KOKLATA, KOLKATA

In the result, the appeal of the Assessee is allowed and the appeal of the Revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

depreciation was in that case was ploughed back for user on account of charity. It cannot be disputed that a building used for the purpose of charity diminishes in value over the time like any other building. Therefore, providing for such diminution of value would keep the corpus of the trust intact otherwise the corpus of the trust itself

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

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

depreciable assets as house property which were sold during relevant year and STCG of Rs.3,16,04,127/- was declared. The stamp duty value of the properties was Rs.9,91,43,740/-, which for the purpose of section

DCIT, CIR-7(1), KOLKATA, KOLKATA vs. M/S. GANESH REALTY & MALL DEVELOPMENT PVT. LTD., KOLKATA

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.581/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13)

depreciation claims and many other claims of expenses were withdrawn and deduction u/s 24(a) was claimed. This resulted in scaling down of the loss claimed by the assessee. In assessment proceedings the Assessing Officer considered rental income of Rs.3,67,94,120/- under the head income from house property, but the utility charges of Rs.7,59,59,588/- received

DCIT, CIRCLE - 3(1), KOLKATA , KOLKATA vs. M/S. THE SUN ROLLING MILLS PVT. LIMITED , KOLKATA

In the result, the appeal of the revenue is treated as allowed for statistical purpose

Bench: Shri P.M. Jagtap, Am] I.T.A. No. 333/Kol/2018 Assessment Year: 2012-13 D.C.I.T. Cir 3(1), Kolkata..............................…………………………...........................Appellant P-7, Chowringhee Square, Aayakar Bhawan, 4Th Floor, Room No. 19, Kolkata – 700 069 M/S. The Sun Rolling Mills Pvt. Ltd....................…….........................................Respondent P-2, New Cit Road, Kolkata – 700 073. [Pan: Aabct 2647 N] Appearances By: Shri P.K. Mondal, Addl. Cit Appearing On Behalf Of The Revenue. Shri Naresh Kumar Goyal, Advocate Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 16, 2018 Date Of Pronouncing The Order : May 18, 2018 Order Per P.M. Jagtap, Am This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit(Appeals) – 1, Kolkata Dated 29.11.2017 & The Solitary Issue Involved Therein Relates To The Deletion By The Ld. Cit(A) Of The Addition Of Rs. 1,07,65,892/- Made By The A.O. On Account Of Disallowance Of Assessee’S Claim For Depreciation At Higher Rate On Rolls.

section 32(1) of the Income Tax Act, 1961 read with rule 5 of the Income Tax Rules 1962 at the rate of 80% as provided in new appendix I (effective from assessment year 2006-07 onward). Whereas in the earlier years the depreciation on Rolling Mill Rolls was claimed at the rate of 15% under the block machinery

ORIENT PAPER & INDUSTRIES LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey

depreciation under section 80IA stood at Rs.34,22,32,964/-. The TPO by following the decision of Hon’ble Calcutta High Court in the case of CIT Vs ITC Ltd (236 taxman 612) benchmarked the energy charge for power transferred by the CPP to the manufacturing unit at a price fixed by MPERC for power generation station i.e. Bina Power

INFINITY INFOTECH,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

In the result the appeal by the assessee is allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am]

depreciation on 'Trading Stock' and not on 'Capital Asset' used for the purpose of business. ITA No.329/Kol/2017 Infinity Infotech Parks Ltd A.Y.2012-13 2 For the above reasons, the CIT considered the order of the AO erroneous and prejudicial to the interest of the revenue and he accordingly issued a show cause notice to the Assessee dated 20.9.2013 to the Assessee

DCIT, CIRCLE - 5, KOLKATA, KOLKATA vs. M/S. ESSEL MINING & INDUSTRIES LTD., KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2007-08

127) Added back in the Computation of Total Income being capital loss. Assessed as such i.e. loss disallowed in the ITA No.352/Kol/2011 & ITA No.589/Kol/2011-Essel Mining & Inds.Ltd A.Y.2007-08 order u/s 143(3) 2010-11 13,84,44,458 Claimed as capital receipt in the Computation of Total Income. The claim allowed in the order