TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

195 crores received by the company, the provisions of Section 50C are not applicable to the instant case and the action of the AO in applying Section SoC was not justified. D. Even otherwise, Section 50C should not apply on salt of building, being a de- preciable asset forming part of block of assets At the outset

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

195 of the Act then all these expenses are to be allowed. Accordingly we restore this issue to the file of AO to examine and decide accordingly. The ground no. 3 is allowed for statistical purpose. 16. Issue raised in ground no. 4 by the assessee is against the confirmation

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

195 of the Act then all these expenses are to be allowed. Accordingly we restore this issue to the file of AO to examine and decide accordingly. The ground no. 3 is allowed for statistical purpose. 16. Issue raised in ground no. 4 by the assessee is against the confirmation

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

195 of the Act then all these expenses are to be allowed. Accordingly we restore this issue to the file of AO to examine and decide accordingly. The ground no. 3 is allowed for statistical purpose. 16. Issue raised in ground no. 4 by the assessee is against the confirmation

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

195 of the Act then all these expenses are to be allowed. Accordingly we restore this issue to the file of AO to examine and decide accordingly. The ground no. 3 is allowed for statistical purpose. 16. Issue raised in ground no. 4 by the assessee is against the confirmation

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. E.I.H. LTD., KOLKATA

In the result, the appeal of the revenue in ITA NO

Bench: : Shri M. Balaganesh

195(1) of the Act and hence there is no obligation that could be cast on the assessee to deduct tax at source. b) Even otherwise, the payments are governed by the provisions of Article 14 of DTAA which would prevail over the other provisions of the Act , wherein the said payments are liable to be taxed only in abroad

DHARAM CHAND CHAUDHRY,KOLKATA vs. DCIT, CIRCLE - 33, KOLKATA, KOLKATA

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

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

195 – from payments made to the foreign airlines for airfreight. In this view of the matter, the impugned disallowances under section 40(a)(ia) are devoid of any merits, nor can these disallowances be made under section 40(a)(i) either – as alternatively suggested by the authorities below. We, accordingly, direct the Assessing Officer to delete the impugned disallowances

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Eih Ltd V/S. Dcit, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [Pan No.Aaace 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date Of Hearing 16-05-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Dispute Resolution Panel-2, (Drp For Short) Dated 17.10.2016. Assessment Was Framed By Dcit, Circle-8(1), Kolkata U/S 144C(13)/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.11.2016 For Assessment Year 2012-13 & Grounds Raised By Assessee Read As Under:- “1.0 Determination Of Arm'S Length Price For Corporate Guarantee Fees 1.1 On The Facts & In The Circumstances Of The Case & In Law, The Learned Transfer Pricing Officer (Hereinafter Referred To As "Ld, Tpo") & Accordingly Learned Assessing Officer (Hereinafter Referred To As "Ld. Ao") Erred In Treating The Corporate Guarantee Extended By The Appellant To Its Associated Enterprise (Ae) As International Transaction & Dispute Resolution Panel (Hereinafter Referred To As "Ld, Panel") Erred In Confirming The Same As An International Transaction Without Appreciating The Fact That It Does Not Fall Within The Ambit Of "International Transaction" U/S 92B Of The Act. 1.2 The Ld.Ao/Tpo & The Ld. Panel Failed To Appreciate The Fact That Corporate Guarantee Has Been Advanced By The Appellant As A Matter Of Commercial Prudence To Protect The Business Interest Of The Group By Fulfilling

depreciation to the extent of Rs. 53,32,210/- being 10% of the total expenditure of Rs. 5,33,22,099/- ignoring the decision of Hon'ble Kolkata Tribunal in appellant's own case in DCIT -vs- EIH Limited (2015) I.T.A. No. 426/Ko1/2006 for AY 2002-03· ITA No.117/Kol/2017 A.Y. 2012-13 EIH Ltd. Vs. DCIT

DCIT, CIR-11(1), KOLKATA, KOLKATA vs. M/S EVEREADY INDUSTRIES INDIA LTD., KOLKATA

In the result, appeal of revenue is dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

depreciation was allowed. The property in question was sold during the relevant year for Rs 500 lacs. In terms of Section 43(6) read with Section 50 of the Act, the sale proceeds were reduced from the opening WDV of the block as on 01/04/2005 which was only Rs 30,76,885/-. As a result, there was deemed short term

M/S. MATARANI VINTRADE PVT. LTD., ,KOLKATA vs. ITO, WARD - 15(1), KOLKATA , KOLKATA

Bench: Hon’Ble Shri P.M. Jagtap, V.P (Kz) & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2012-13

depreciation 9. Computation of total income. 10. Thus, the aforesaid documents were received by the Assessing Officer during assessment proceedings and thereafter he issued notices u/s 133(6) of the Act to all the thirty eight (38) share applicant companies and after perusal of the documents furnished by them (PB-II pages 1-843) and thereafter, summoned the director

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 can be set off against long term capital loss u/s 74 of the Act. 5.3. Respectfully following the decisions of the Hon’ble Supreme Court and Hon’ble Bombay High Court supra , we hold that the assessee is indeed entitled to set off the brought forward long term capital loss of Rs 9,77,54,843/- against

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 can be set off against long term capital loss u/s 74 of the Act. 5.3. Respectfully following the decisions of the Hon’ble Supreme Court and Hon’ble Bombay High Court supra , we hold that the assessee is indeed entitled to set off the brought forward long term capital loss of Rs 9,77,54,843/- against

ABN AMRO BANK N.V.,KOLKATA vs. DDIT, INTERNATIONAL TAXATION - 1(1), KOLKATA, KOLKATA

In the result, the appeals of the assessee are partly allowed

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

195(1) section 40(a)(i) had no application.” Respectfully following the aforesaid decision, this ground for various asst years (supra) is allowed. 6. CLAIM OF REFUND OF TAX DEDUCTED AT SOURCE ON INTEREST PAYMENTS MADE TO HEAD OFFICE AND OTHER BRANCHES ADDITIONAL GROUND NO.1 FOR ASST YEAR 2005-06 ADDITIONAL GROUND NO.1 FOR ASST YEAR 2006-07 ADDITIONAL GROUND

ORGANON (INDIA) LIMITED,MUMBAI vs. ADDL. CIT, CIRCLE - 12, KOLKATA, KOLKATA

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

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

195. It was further held by the Tribunal that the assessee was entitled for relief on this issue even on the basis of non-discrimination clause contained in Article 24(4) of the Indo-Netherland DTAA. The Tribunal accordingly deleted the disallowance made by the Assessing Officer under section 40(a)(i) of the Act and confirmed

DCIT, (IT), 2(1), KOLKATA, KOLKATA vs. M/S THE ROYAL BANK OF SCOTLAND N.V., KOLKATA

In the result, the appeal of the revenue in ITA No

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

depreciation u/s 32 of the Act for the 10% block. It is not in dispute that the 10% block continues to exist as on 31.3.2010. In these circumstances, we find lot of force in the arguments of the ld AR and accordingly allow the Ground No. 2 raised by the assessee. 8 ITA No. 496-477/Kol/2015 The Royal Bank

DIPTI MEHTA ,KOLKATA vs. ITO, WARD - 43(2), , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

195 Taxman 117 (Bombay). We note that the legal issue which has been raised before us is no longer res integra and the Hon’ble Bombay High Court after taking note of the Explanation 3 inserted by the Finance Bill 2009 has answered this legal issue in favour of the assessee by holding as under: 2. The two appeals

M/S. EASTERN SUGAR & INDUSTRIES LTD.,KOLKATA vs. ACIT, CENTRAL CIRCLE - XI, KOLKATA, KOLKATA

In the result, appeals filed by the assessee on grounds No

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

6. Although in this appeal the assessee has raised six grounds of appeal, but at the time of hearing the main grievance of the assessee has been confined to only two issues namely, reassessment proceedings initiated by the AO was without any tangible material and secondly disallowance of assessee’s claim of depreciation of Rs.25,70,750/- on brought forward

M/S. EASTERN SUGAR & INDUSTRIES LTD.,KOLKATA vs. ACIT, CENTRAL CIRCLE - XI, KOLKATA, KOLKATA

In the result, appeals filed by the assessee on grounds No

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

6. Although in this appeal the assessee has raised six grounds of appeal, but at the time of hearing the main grievance of the assessee has been confined to only two issues namely, reassessment proceedings initiated by the AO was without any tangible material and secondly disallowance of assessee’s claim of depreciation of Rs.25,70,750/- on brought forward