WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

5. The above submissions made by the assessee did not find favour with the Ld. CIT (A) who proceeded to confirm the disallowance made by the AO on account of assessee’s claim for additional depreciation under section

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

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

5. The above submissions made by the assessee did not find favour with the Ld. CIT (A) who proceeded to confirm the disallowance made by the AO on account of assessee’s claim for additional depreciation under section

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

5. The above submissions made by the assessee did not find favour with the Ld. CIT (A) who proceeded to confirm the disallowance made by the AO on account of assessee’s claim for additional depreciation under section

NARAYANI LAXMI VINIYOG PVT. LTD.,KOLKATA vs. I.T.O., WARD - 3(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: the due date for A.Y. 2023-24. In the return, the assessee has calculated tax liability @ 22%. However, CPC calculated tax @ 40% and did not give the benefit of lower rate of tax provided under section 115BAA of the Act on the ground that the assessee has not opted for falling under this scheme by filing Form 10IC. When the assessee carried the matter to the ld. CIT(Appeals), it was submitted by the assessee that it has filed the Narayani Laxmi Viniyog Pvt. Ltd.

5. The facts in brief are that the assessee is a Private Limited Company and it furnished its return of income on 12.10.2023, which was well before the due date for A.Y. 2023-24. In the return, the assessee has calculated tax liability @ 22%. However, CPC calculated tax @ 40% and did not give the benefit of lower rate

M/S. BAID TRADE FINA PVT. LTD.,,KOLKATA vs. ITO, WARD - 1(1), , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 2453/Kol/2024 Assessment Year: 2021-2022 M/S. Baid Trade Fina Pvt. Ltd.,……...………Appellant S.S. Chambers, 5, C.R. Avenue, 4Th Floor, Kolkata-700072 [Pan:Aabcb1875A] -Vs.- Income Tax Officer,…………………………….…Respondent Ward-1(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Sujay Sen, Advocate, Appeared On Behalf Of The Assessee Shri Susanta Saha, Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: March 10, 2025 Date Of Pronouncing The Order: April 30Th, 2025 O R D E R

5. At the time of hearing, it was the submission of the ld. Counsel for the assessee that ld. Addl./JCIT(Appeals) did not consider the provision of 115BAA. Therefore, he pleaded to set aside the order passed by the ld. Addl./JCIT(Appeals). 3 M/s. Baid Trade Fina Pvt. Ltd. 6. Before me, the ld. D.R. vehemently argued supporting

PRIMETALS TECHNOLOGIES INDIA PVT. LTD.,KOLKATA vs. ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

section 143(3) of the Act pertaining to the assessment year2006-07 though the assessee before the learned CIT (A) has submitted as under: "The depreciation on goodwill is allowed and was correctly granted as per law in the assessment order for A.Y 2006-07." The above submission of the assessee before the learner CIT (A) has not been disputed

PRIMETALS TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE-1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

section 143(3) of the Act pertaining to the assessment year2006-07 though the assessee before the learned CIT (A) has submitted as under: "The depreciation on goodwill is allowed and was correctly granted as per law in the assessment order for A.Y 2006-07." The above submission of the assessee before the learner CIT (A) has not been disputed

DCIT, CIRCLE - 6,, KOLKATA vs. LOKNATH SARAF SECURITIES LTD.,, KOLKATA

In the result, to sum up ITA No

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

depreciation or capital expenditure on scientific research, the provisions of sub-section (2) of section 72 shall apply in relation to speculation business as they apply in relation to any other business. (4) No loss shall be carried forward under this section for more than eight assessment years immediately succeeding the assessment year for which the loss was first computed

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

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

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

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

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

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

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 - 12, KOLKATA, KOLKATA vs. M/S. BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

In the result, the appeals of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

section 80B(5), which means the income available after adjusting all the brought forward losses and unabsorbed depreciation etc. 14. Thus

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 11(6) of the Act vide Finance Act No. 2/2014 which became effective from the Assessment Year 2015-16. The Delhi High Court has taken the view and rightly so, that the said amendment is prospective in nature. 5. It also follows that once assessee is allowed depreciation

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 11(6) of the Act vide Finance Act No. 2/2014 which became effective from the Assessment Year 2015-16. The Delhi High Court has taken the view and rightly so, that the said amendment is prospective in nature. 5. It also follows that once assessee is allowed depreciation

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

In the result, the appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Rajesh Kumari.T.A. No.2109/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata………………………………………….……Appellant Vs. M/S National Engineering Industrial Ltd…..……..........……...…..…..Respondent 11Th Floor, Birla Building, 9/1, R.N. Mukherjee Road, Bbd Bagh, Kolkata-1. [Pan: Aaacn9969L] Appearances By: Shri Akkal Dudhwewala, Fca & Shri Rakesh Jhunjhunwala, Ar Appeared On Behalf Of The Appellant. Shri Amitava Bhattacharya, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 13, 2021 Date Of Pronouncing The Order : December 16, 2021 Hearing Through Video Conferencing Order Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 17.06.2019 Of The Commissioner Of Income Tax (Appeals)-2, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 143(3) Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Revenue In This Appeal Has Taken The Following Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law In Allowing The Claim Of Balance Additional Depreciation On The Assets Which Were Put To Use In Earlier Year. 2. That The Appellant Craves For Leave To Add To Delete, Modify Any Of The Grounds Of Appeal Before Or At The Time Of Hearing..” 2. At The Outset, It Is Noticed That The Appeal Filed By The Revenue Is Time-Barred By 18 Days. A Separate Application For Condonation Of The Said Delay Has Been Filed, Wherein Reasons For The Delay In Filing This Appeal Have Been Mentioned. Considering The Above Reasons, We Condone The Delay.

section 32(1), claimed depreciation @50% of additional depreciation i.e. @10% instead of 20% of the actual cost. The assessee claimed the remaining 10% additional depreciation during the next financial year i.e. F.Y 2014-15 relevant to A.Y 2015-16. However, the Assessing Officer disallowed the claim of balance additional depreciation of 10% stating that there was no provision under