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

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

4,14,13,831/- and ₹18,20,000/-; respectively being capital in nature in computing book profits section 115JB of the Act. Both the parties are unanimous herein as well in pointing out that the above co-ordinate bench’s decision has upheld the taxpayer’s similar substantive grievance in preceding assessment year 2010-11 as under:- “9. Next issue

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

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

4,14,13,831/- and ₹18,20,000/-; respectively being capital in nature in computing book profits section 115JB of the Act. Both the parties are unanimous herein as well in pointing out that the above co-ordinate bench’s decision has upheld the taxpayer’s similar substantive grievance in preceding assessment year 2010-11 as under:- “9. Next issue

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

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

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

M/S TATA METALIKS LTD.,KOLKATA vs. DCIT, CIR-3(1), KOLKATA, KOLKATA

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

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

TATA METALIKS LTD.,KOLKATA vs. ITO,WD-3(2), KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

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

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, CIR-3(1), KOLKATA, KOLKATA vs. M/S TATA METALIKS LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

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

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-6(1), KOLKATA, KOLKATA vs. M/S NATIONAL ENGINEERING INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri J. Sudhakar Reddy, Am & Shri A.T. Varkey, Jm]

depreciation amounting to Rs. 6,36,83,752/- on the assets which were put to use in earlier financial year. 4. That the appellant craves for leave to add, delete or modify any of the grounds of appeal before or at the time of hearing.” 2 M/s. National Engineering Industries Ltd. AY- 2013-14 3. Ground No. 1 is against

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S BIRLA CORPORATION LTD., KOLKATA

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

depreciation under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received by the assessee would have to be construed as a Capital Receipt and the same need not be reduced from the cost

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

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received by the assessee would have to be construed as a Capital Receipt and the same need not be reduced from the cost

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

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received by the assessee would have to be construed as a Capital Receipt and the same need not be reduced from the cost

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

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received by the assessee would have to be construed as a Capital Receipt and the same need not be reduced from the cost

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

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

depreciation under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received by the assessee would have to be construed as a Capital Receipt and the same need not be reduced from the cost

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 under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Page 36 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. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received

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 under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Page 36 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. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received

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 under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Page 36 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. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received

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 under the provisions of the Act. Accordingly, this issue of revenue’s appeal is dismissed and that of the assessee is allowed”. Page 36 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. Respectfully following the aforesaid decision of this tribunal supra, we hold that the IPA received

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

4 of the revenue appeal reads as follows:- 24 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

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

4 of the revenue appeal reads as follows:- 24 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