DCIT/ACIT, LTU - 1, KOLKATA, KOLKATA vs. M/S. UNITED BANK OF INDIA, KOLKATA

In the result, the Revenue’s appeal is dismissed (ITA No

Bench: the ITAT. The grounds may be extracted for reference:

36(1)(viii) by Rs.30,80,96,948/ in his order which is confirmed by the Ld. CIT(A), as such his finding is completely arbitrary, unjustified and illegal. 3. For that on the facts of the case, the Ld. CIT(A) was wrong in restricting the disallowance u/s. 14A amounting to Rs. 1.47 crores by invoking Rule

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

DCIT, CIRCLE - 7, KOLKATA, KOLKATA vs. VODAFONE ESSAR EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

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

VIII, Kolkata (hereinafter referred to as the ‘learned CIT(A)’ erred in confirming the action of the learned Additional Commissioner of Income Tax, Range 7, Kolkata (hereinafter referred to as the ‘learned Assessing Officer') in not allowing set-off of Rs.373,512,000 under clause (iii) of Explanation 1 to sub-section (2) of Section 115JB of the Income

DCIT, CIR-11(2), KOLKATA, KOLKATA vs. M/S P C CHANDRA (JEWELLERS) PVT. LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2011-12 Dct, Crcle-11(2), V/S. M/S P.C. Chandra P-7, Chowringhee (Jewellers), Pvt. Ltd., Square, Kolkta-69 49C, Gaiahat Road, Kolkata-19 [Pan No.Aabcp 8654 M] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Sallong Yaden, Addl. Cit-Sr-Dr अपीलाथ" क" ओर से/By Appellant Shri Ravi Tulsiyan, Fca ""यथ" क" ओर से/By Respondent 11-01-2018 सुनवाई क" तार"ख/Date Of Hearing 02-02-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-4, Kolkata Dated 06.07.2015. Assessment Was Framed By Dcit, Circle-11, Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 28.08.2013 For Assessment Year 2011-12. Revenue Has Raised Following Ground:- “1. That On The Facts & In The Circumstances Of The Assessee Ld. Cit Has Erred In Deleting The Penalty Of Rs.23,68,786/- Imposed U/S. 271(1)(C) Of The It Act. 1961. 2. That The Appellant Craves For Leave To Add, Delete Or Modify Any Of The Grounds Of Appeal Before Or All The Time Of Hearing.”

36(1)(iii) for interest paid on loan taken for purchase of shares. The AO disallowed the interest u/s 14A and levied penalty u/s 271(1)(c) on the ground that the claim was unsustainable. The penalty was deleted by the appellate authorities. ITA No.1197/Kol/2015 A.Y. 2011-12 DCIT, Cir-11(2), Kol. Vs. M/s PCC(Jewellers), Pvt. Ltd. Page

ITO, WARD - 1(3), KOLKATA, KOLKATA vs. M/S. GKW LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri N. V. Vasudevan & Shri M. Balaganesh, I.T.A. No. 459/Kol/2012 Assessment Years: 1996-97

depreciation made in any previous year in the hands of the amalgamated company shall be deemed to be the income of the amalgamated company, chargeable to tax for the year in which such conditions are not complied 7 I.T.A. No. 459/Kol/2012 Assessment Years: 1996-97 M/s. GKW Ltd. with. He argued that on bare reading of the amended provisions

ACIT, CIR-11(2), KOLKATA, KOLKATA vs. M/S SREI INFRASTRUCTURE FINANCE LTD., KOLKATA

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

36(1)(vii) and thus the same is not allowable. Further, the Supreme Court has also ruled that deduction can also not be claimed u/s 37(1) of the Act. In view of the aforesaid decision of the Supreme Court, provision for NPA of Rs. 1,371 lakhs was added back by AO in the computation of total income

SREI INFRASTRUCTURE FINANCE LIMITED,KOLKATA vs. DCIT, CIRCLE-11(2), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

36(1)(vii) and thus the same is not allowable. Further, the Supreme Court has also ruled that deduction can also not be claimed u/s 37(1) of the Act. In view of the aforesaid decision of the Supreme Court, provision for NPA of Rs. 1,371 lakhs was added back by AO in the computation of total income

M/S VODAFONE EAST LTD.(FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. A.D.I.T RANGE - 7,KOL., KOLKATA

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

Bench: Shri Mahavir Singh & Shri M. Balaganesh

36 of 56 In the result, the appeal of the assessee in ITA No. 1864/Kol/2012 for the Asst Year 2009-10 is partly allowed. ITA No. 243 / Kol / 2014 – Asst Year 2010-11 – Assessee’s Appeal 7. This appeal arises out of the order of the Learned CIT(Appeals) in Appeal No.118/CIT(A)-VIII/Kol/13-14 dated 31.12.2013 for the Asst Year

D.C.I.T. CIR-12, KOLKATA,KOLKATA vs. USHA MARTIN TELEMATICS LIMITED, KOLKATA

In the result, the appeal filed by the assessee on this ground is dismissed

Bench: Shri N.V.Vasudevan, J.M. &Dr.A.L.Saini, A.M.)

depreciation or appreciation,theassessee has credited the gain in profit and loss account and such recognition of income is as per AS-11. c.Ld. DR also relied on the following judgments where similar issues have been decided in favour of Revenue: 1)Hon`ble C Bench ITAT, Kolkata in case of ITO ward 12(3) Kolkata Vs. UMT Investments

BEEYU OVERSEAS LIMITED,KOLKATA vs. DCIT-CIR.4(1), KOLKATA

In the result, the appeal of assessee is allowed

1) dated 04.02.2020 for A.Y. 2010-11 passed against the assessment order u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) by DCIT, Circle-4, Kolkata dated 13.02.2013. 2. At the outset, we note that there is a delay of 51 days in filing the present appeal which was filed on 30.06.2020. From

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

viii) Jagdamba Spong Pt. Ltd. ix) J.S.Forge Ltd. x) Kokda Steel (P)- Ltd. xi) N.S. Ispta (I) Ltd xii) Om Sairman Steel & Alloys xiii) Shri Melcast Pvt. Ltd. xiv) S.K.K.Steel Enterprises Pvt Ltd. xv) Shiv Real Ispat Pvt Ltd. xvi) Shree Hanuman Tubes Pvt Ltd. xvii)Super Iron & Steel Pvt. Ltd. Similarly the assessee paid the commission to Pardip Kumar

M/S ADHUNIK INFRASTRUCTURE PVT. LTD.,KOLKATA vs. JCIT, RG-10, KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No.1281 /Kol/2015 Assessment Year : 2010-11

viii. As per the contract the assessee is not supposed to sublet / assign any portion of the work. 2 3 Adhunik Infrastructure (P)Ltd. A.Yr.2010-11 ix. The exact work to be done has been specified in the contract. The ld AO based on the above observed that the assessee has no discretion in the work to be done