DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

depreciation claim stands reversed byhon'ble Madras high court in TCA No.55/2017 dated 14.03.2017. Their lordships have made it clear that such a deduction claim is allowable even if in case than fixed assets had been put to use in earlier assessment years. We thus affirm the CIT(A)’s identical detailed reasoning extracted hereinabove in all these three assessment

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

depreciation claim stands reversed byhon'ble Madras high court in TCA No.55/2017 dated 14.03.2017. Their lordships have made it clear that such a deduction claim is allowable even if in case than fixed assets had been put to use in earlier assessment years. We thus affirm the CIT(A)’s identical detailed reasoning extracted hereinabove in all these three assessment

ACIT, CIRCLE - 2(2), KOLKATA, KOLKATA vs. M/S. WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

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

depreciation under section 32(1)(iia). Ground no 1 & 2 of the assessee’s appeal for A.Y. 2011- 12 are accordingly allowed”. 4. It is also observed that the issue relating to the deletion by the ld. CIT(Appeals) of the addition made by the Assessing Officer on account of ERPC charges was also decided by the Tribunal dated October

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. DCIT, CIRCLE - 2(2), KOLKATA , KOLKATA

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

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

depreciation under section 32(1)(iia). Ground no 1 & 2 of the assessee’s appeal for A.Y. 2011- 12 are accordingly allowed”. 4. It is also observed that the issue relating to the deletion by the ld. CIT(Appeals) of the addition made by the Assessing Officer on account of ERPC charges was also decided by the Tribunal dated October

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

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:

depreciable assets, although the assets which were sold were long term capital asset as the holding period of them exceeded 36 months. Hence only by deeming fiction in terms of section 50 of the Act, the gain was treated as short term capital gain. The ld AO in the draft assessment order denied the set off of long term capital

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

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:

depreciable assets, although the assets which were sold were long term capital asset as the holding period of them exceeded 36 months. Hence only by deeming fiction in terms of section 50 of the Act, the gain was treated as short term capital gain. The ld AO in the draft assessment order denied the set off of long term capital

M/S. FUTURE DISTRIBUTORS,KOLKATA vs. PR.CIT, KOLKATA - 9, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

depreciation and interest, the total income of the assessee from the business of dealing in lottery tickets was determined by the Assessing Officer at Rs.1,72,96,81,920/- for the year under consideration in the assessment completed under section 143(3)/144 vide an order dated 22.03.2013. 5. The records of the assessment made under section 143(3)/144

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation raised by the Revenue are dismissed. Revenue’s common Ground no. 2 for AY 2013-14 & 2014-15 relating to the deduction u/s 80IA of the Act in respect of thermal power plants for generating electricity: Page 11 of 67 I.T.A. Nos.: 2142 & 2143/KOL/2018 & I.T.A. Nos.: 496 & 497/KOL/2020 Assessment Years: 2013-14 & 2014-15 Birla Corporation Limited. 9. Revenue

BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation raised by the Revenue are dismissed. Revenue’s common Ground no. 2 for AY 2013-14 & 2014-15 relating to the deduction u/s 80IA of the Act in respect of thermal power plants for generating electricity: Page 11 of 67 I.T.A. Nos.: 2142 & 2143/KOL/2018 & I.T.A. Nos.: 496 & 497/KOL/2020 Assessment Years: 2013-14 & 2014-15 Birla Corporation Limited. 9. Revenue

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation raised by the Revenue are dismissed. Revenue’s common Ground no. 2 for AY 2013-14 & 2014-15 relating to the deduction u/s 80IA of the Act in respect of thermal power plants for generating electricity: Page 11 of 67 I.T.A. Nos.: 2142 & 2143/KOL/2018 & I.T.A. Nos.: 496 & 497/KOL/2020 Assessment Years: 2013-14 & 2014-15 Birla Corporation Limited. 9. Revenue

BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT, CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation raised by the Revenue are dismissed. Revenue’s common Ground no. 2 for AY 2013-14 & 2014-15 relating to the deduction u/s 80IA of the Act in respect of thermal power plants for generating electricity: Page 11 of 67 I.T.A. Nos.: 2142 & 2143/KOL/2018 & I.T.A. Nos.: 496 & 497/KOL/2020 Assessment Years: 2013-14 & 2014-15 Birla Corporation Limited. 9. Revenue

HALDIA PETROCHEMICALS LTD.,KOLKATA vs. ACIT, CIR-8, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Shri S.S.Viswanethra Ravi, Jm ] Assessment Year : 2004-05

Depreciation on fixed assets as well as on temporary structure and other facilities used during the period of construction (see paragraph 9.4 and 9.5 of this Note). (j) Expenses on test runs (see paragraph 11 of this Note). (k) Expenses on land grading and leveling (see paragraph 96 of this Note). Taking a consistent view by the decision

DCIT, CIR-11(1), KOLKATA, KOLKATA vs. M/S HALDIA PETROCHEMICALS LTD., KOLKATA

In the result, the appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Shri S.S.Viswanethra Ravi, Jm ] Assessment Year : 2004-05

Depreciation on fixed assets as well as on temporary structure and other facilities used during the period of construction (see paragraph 9.4 and 9.5 of this Note). (j) Expenses on test runs (see paragraph 11 of this Note). (k) Expenses on land grading and leveling (see paragraph 96 of this Note). Taking a consistent view by the decision

ITO, WD-43(1), KOLKATA, KOLKATA vs. M/S TIRUPATI COMMERCIAL, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1329/Kol/2015 Assessment Year : 2011-12 Ito, Ward-43(1), Kolkata -Vs- M/S Tirupati Commercial [Pan: Aadft 4683 K] (Appellant) (Respondent)

section 40(b)(v) is Rs. 726616/- and hence at the year end, balance Rs. 676616/- was accounted for and debited to the remuneration to working partners account and is evident from the comparative Profit & Loss A/c. V. Depreciation Survey was done on 29.09.2010. Till that date, entry for depreciation for one quarter was made. Also, there was purchase

DCIT, LTU-2, KOLKATA vs. M/S CENTURY PLYBOARDS (I), LTD, KOLKATA

In the result, the appeal of the revenue is dismissed and cross objections of assessee are allowed

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2014-15

145(3) of the Act. We note that it was with 19 ITA No. 2149/Kol/2019 & C.O. No. 22/Kol/2020 M/s Century Plyboards (I) Ltd. A.Y. 2014-15 a view to further verify the averments of the assessee and in exercise of his co-terminus powers that the ld. CIT(A)had issued enhancement notice u/s 251 of the Act and, thereafter

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

LIMTEX TEA & INDUSTRIES LTD,,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result the appeal by the Assessee is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2006-07

section 145 of the Income-tax Act provides that the Central Government may notify Income Computation and Disclosure Standards (ICDS) for any class of assessees or for any class of income. The Central Board of Direct Taxes (CBDT) notified ICDS-I to ICDS-X vide Notification No.S.O. 892(E) dated 31st March, 2015 after wide public consultations. The ICDS

DCIT,CIR-11(1), KOLKATA, KOLKATA vs. M/S HALDIA PETROCHEMICALS LTD., KOLKATA

In the result, this appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi) Assessment Year: 2003-04 Deputy Commissioner Of Income Tax, Circle-11(1), Kolkata.……......………..…..................Appellant Vs. M/S. Haldia Petrochemicals.....……………...........…………..……………………...……..….…….......Respondent Bengal Eco Intelligent Park (Techno) Tower-1, Block-Em Plot No. 3 Salt Lake City Sector-V, 3Rd Floor Kolkata -91 [Pan : Aaach 7360 R]

section 32 of the Act. 17. From the aforesaid discussion, we find that the assessee has incurred expenses prior to the commencement of business and classified as deferred revenue expenditure. The assessee started claiming those expenses after the commencement of business 1/5th over the period of 5 years. However, the lower authorities disallowed the same on the ground that there