ACIT, CIRCLE - 7, KOLKATA vs. HUTCHISON TELECOM EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. JCIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. ADDL. CIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

ACIT, CIRCLE - 7, KOLKATA vs. VODAFONE ESSAR EAST LTD., KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

1 to sub section (2) of section 115JB of the Act. The view taken by the AO was subsequently confirmed by the ld. CIT(A). 15.1 Now the issue before us arises for our adjudication so as to whether the unabsorbed depreciation for Rs.37,35

I.T.O (E) - 1,KOLKATA, KOLKATA vs. NATIONAL COUNCIL OF SCIENCE MUSEUM, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P. M. Jagtap, A.M. & Shri S.S.Viswanethra Ravi, J.M.)

section 35(1)(ii) for the assessment year 2009-10. 2 National Council of Science Museum 4. During the assessment proceedings, the AO found that the assessee claimed exemption u/s 10(23C) in the original return and was not claimed in the Revised return. The Finance Officer submitted on 16.12.2011 that there is no approval for claiming exemption

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

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

M/S MEDI DRIPS CARRIES PVT. LTD.,KOLKATA vs. ITO, WD-12(4), KOLKATA, KOLKATA

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

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.471/Kol/2014 ("नधा"रण वष" /Assessment Year:2008-2009) M/S Medi Drips Carries Pvt. Ltd Vs. Ito, Ward-12(4), 8Th Floor, R.No.818, P-7, Chowringhee Square, 4, Synagogue Street, Aayakar Bhawan, Kolkata-700001 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Aabcm 8139 Q .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri Ashish Rustogi, Aca Revenue By : Shri Saurav Kumar, Jcit सुनवाई क" तार"ख / Date Of Hearing : 01/03/2017 घोषणा क" तार"ख/Date Of Pronouncement 08/03/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee Pertaining To Assessment Year 2008-09, Is Directed Against The Order Passed By Ld. Cit(A)-Xii, Kolkata, In Appeal No.490/Xii/12(4)/10-11, Dated 11.11.2013, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 28.12.2010. 2. The Said Captioned Appeal Filed By The Assessee Is Time Barred By Four Days. The Assessee Filed The Petition For Condonation Of Delay & Expressed The Reasons Of Delay. After Verification Of Petition We Found That There Was A Reasonable Cause For Four Days Delay In Filing The Appeal. Even Ld Dr Did Not Object To Condone The Delay. Therefore, We Condone The Delay & Admit The Appeal For Hearing. 3. Brief Facts Of The Case Qua The Assessee Are That The Assessee Company Filed Its Return Of Income On 30.09.2008. Subsequently The 2 M/S Medi Drips Carries Pvt. Ltd. Assessee Company Filed Its Revised Return Of Income On 9-12-2008

35,749/- Add: Adjustment on account of change of Depreciation method Rs.5,54,25,156/- Assessed book profit as per section 115JB Rs.2,22,89,407/- 4. Aggrieved from the order of Assessing Officer, the assessee filed an appeal before the ld. Commissioner of Income Tax (Appeals), who has confirmed the order passed by the AO observing the followings

ACIT, CIRCLE - 13(2), KOLKATA , KOLKATA vs. M/S. PADMA LOGISTICS & KHANIJ PRIVATE LIMITED , KOLKATA

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

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Depreciation in respect of M/s. Vortal Undertaking were transferred, pursuant to section 72A(4) of the Act, from the demerged company (M/s. Star Ya Kalakaar.Com Limited) to the resulting company (M/s. Padma Logistic & Khanij Private Limited) w.e.f. the appointed date i.e. 01.03.2010. The claim of assessee is as per law and the AO erred in refusing to consider the Revised

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

In the result, the appeal of the revenue and CO of the assessee in A

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

depreciation of Rs. 60,60,115/- u/s 32(1)(iia). 6. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition made by disallowing the foreign currency loss of Rs. 1,65,65,143/-. 7. That the appellant craves for leave to add, delete and modify

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

In the result, the appeal of the revenue and CO of the assessee in A

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

depreciation of Rs. 60,60,115/- u/s 32(1)(iia). 6. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition made by disallowing the foreign currency loss of Rs. 1,65,65,143/-. 7. That the appellant craves for leave to add, delete and modify

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:

35,607,111 Trident Bandra Kurla, Mumbai (Operations) 9,260,223 Oberoi Flight Services, Mumbai 1,081,847 Oberoi Airport Services, Mumbai 169,761 The Oberoi, Bangalore 9,805,671 The Oberoi Vanyavilas, Ranthambore 2,113,523 Maidens Hotel, Delhi 3,806 OFS New Delhi (New Project) 63,794,695 Oberoi Centre for Learning & Development 10,765 Oberoi Flight Services

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:

35,607,111 Trident Bandra Kurla, Mumbai (Operations) 9,260,223 Oberoi Flight Services, Mumbai 1,081,847 Oberoi Airport Services, Mumbai 169,761 The Oberoi, Bangalore 9,805,671 The Oberoi Vanyavilas, Ranthambore 2,113,523 Maidens Hotel, Delhi 3,806 OFS New Delhi (New Project) 63,794,695 Oberoi Centre for Learning & Development 10,765 Oberoi Flight Services

JCIT (OSD), CIR- 11(1), , KOLKATA vs. M/S. GOBIND SUGAR MILLS LTD. , KOLKATA

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

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Ble

1) or sub-section (2AA) or sub-section (2AB) of section 35 or section 35AD or section 35CCC or section 35CCD or under any provisions of 37[Chapter VI-A other than the provisions of section 80JJAA or section 80M]; (ii) without set off of any loss carried forward or depreciation

ITO,WARD-11(1), KOLKATA, KOLKATA vs. M/S. SREI CAPITAL MARKETS LTD., KOLKATA

In the result, Revenue’s appeal is dismissed as infructuous

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2008-09

35,95,472/- which was processed u/s 143(1) of the Act dated 18.09.2009. 4. Subsequently, the AO observed that the assessee has claimed excessive bad debt to the tune of ₹90 lakh which was allowed u/s 143(1) of the Act. Accordingly, the AO found his belief that the income of the assessee has escaped assessment under section

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

depreciation at the rate 25% on\nthe said amount for this year and then 25% on WDV only.\n25.6. Simultaneously, the said disallowance i.e., Rs. 1,19,67,718/- is also\na subject matter of addition by virtue of clause (f) under Explanation [1] to\nthe section 115JB for determining the MAT amount payable by the\nassessee.\"\n10.2

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

35\ntaxmann.com 404 (Kolkata -Trib.), (2013) 144 ITD 141 (Kolkata\nTrib) directed the Ld. AO to recompute the disallowance under Rule\n8D(2)(iii) of the Rules by considering the investments which actually\nyielded dividend income to the assessee for computing disallowance\nunder Section 14A of the Act and held that since the disallowance so\nworked out amounted to lower