M/S. HINDISTHAN ENGINEEING & INDISTRIES LTD.,,KOLKATA vs. DCIT, CIRCLE -5 KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.952/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

depreciation of the merging company are to be set off in the manner provided in section 72A of the I.T. Act. 5. The CIT(A) order

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA, KOLKATA vs. M/S. HINDUSTHAN ENGINEERING & INDUSTRIES LTD., , KOLKATA

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.952/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

depreciation of the merging company are to be set off in the manner provided in section 72A of the I.T. Act. 5. The CIT(A) order

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

depreciation deemed so under section 72A, if such loss or depreciation is attributable to any of the deductions referred to in 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.

depreciation deemed so under section 72A, if such loss or depreciation is attributable to any of the deductions referred to in clause

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

depreciation deemed so under section 72A, if such loss or depreciation is attributable to any of the deductions referred to in clause

CAROLINA FOOD AND INDUSTRIES PRIVATE LIMITED ,KOLKATA vs. DCIT, CIRCLE - 10(1) , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

section 32 of the Act , we are of the opinion that the claim the depreciation on goodwill which has resulted from the scheme which was duly approved by the Hon’ble Calcutta High Court cannot be rejected. The case of the assessee find supports from the several decisions cited by the ld AR a few of which are discussed

BANGIYA GRAMIN VIKASH BANK,MURSHIDABAD vs. ACIT, CIR.42, MURSHIDABAD

In the result, appeal of the assessee for Assessment Year 2008-09 is partly allowed

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank Asstt. Commissioner Of Income Vs Tax, Circle - 42, Murshidabad Nh-34, Bmc House P.O. Chuanpur, Berhampore Murshidabad - 742101 [Pan : Aaalb0462D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury & Shri Pranabesh Sarkar, Advocate Revenue By : Shri Ranu Biswas, Addl. Cit D/R सुनवाई क" तारीख/Date Of Hearing : 02/03/2023 घोषणा क" तारीख /Date Of Pronouncement: 15/03/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals) - 12, Kolkata (Hereinafter The “Ld. Cit(A)”) Even Dated 26/09/2019, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Years 2007-08 & 2008-09. 2. The Assessee Has Raised The Following Grounds Of Appeal For The Assessment Year 2007-08:- “1. For That On The Facts Of The Case, The Order Passed By The Ld. Cit(A)-12, Kolkata Is Completely Arbitrary, Unjustified & Illegal & Without Any Jurisdiction. 2. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Merit Of The Case, Therefore, The Order Passed By The Ld. C.I.T. (A) Is Completely Arbitrary, Unjustified & Illegal. 3. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Facts That In Reopening The Assessment U/S. 148 (R.W.S. 147)

72A, where there has been an amalgamation of— (i) one or more banking company with any other banking institution under a scheme sanctioned and brought into force by the Central Government under sub- section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949)98; or (ii) one or more corresponding new bank or banks with

BANGIYA GRAMIN VIKASH BANK,MURSHIDABAD vs. ACIT, CIR.42, MURSHIDABAD

In the result, appeal of the assessee for Assessment Year 2008-09 is partly allowed

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank Asstt. Commissioner Of Income Vs Tax, Circle - 42, Murshidabad Nh-34, Bmc House P.O. Chuanpur, Berhampore Murshidabad - 742101 [Pan : Aaalb0462D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury & Shri Pranabesh Sarkar, Advocate Revenue By : Shri Ranu Biswas, Addl. Cit D/R सुनवाई क" तारीख/Date Of Hearing : 02/03/2023 घोषणा क" तारीख /Date Of Pronouncement: 15/03/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals) - 12, Kolkata (Hereinafter The “Ld. Cit(A)”) Even Dated 26/09/2019, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Years 2007-08 & 2008-09. 2. The Assessee Has Raised The Following Grounds Of Appeal For The Assessment Year 2007-08:- “1. For That On The Facts Of The Case, The Order Passed By The Ld. Cit(A)-12, Kolkata Is Completely Arbitrary, Unjustified & Illegal & Without Any Jurisdiction. 2. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Merit Of The Case, Therefore, The Order Passed By The Ld. C.I.T. (A) Is Completely Arbitrary, Unjustified & Illegal. 3. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Facts That In Reopening The Assessment U/S. 148 (R.W.S. 147)

72A, where there has been an amalgamation of— (i) one or more banking company with any other banking institution under a scheme sanctioned and brought into force by the Central Government under sub- section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949)98; or (ii) one or more corresponding new bank or banks with

DCIT, CEN. CIR. 4(4), KOLKATA vs. M/S G.K. & SONS PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2011-12 Deputy Commissioner Of M/S. G. K. & Sons Pvt. Ltd., Income-Tax, Central Circle- Room No. 603, 6Th Floor, 4(4), Kolkata. Vs. Shantiniketan Building, 8, Camac Street, Kolkata- 700017. (Pan:Aaacg8389H) (Appellant) (Respondent) Present For: Appellant By : Shri P. P. Barman, Addl. Cit Respondent By : Shri Ravi Tulsiyan, Fca Date Of Hearing : 12.10.2022 Date Of Pronouncement : 20.10.2022

section 72 and 74 of the Act. In this respect reference was made to the judgment of Coordinate Bench of ITAT, Delhi in the case of Bharat Heavy Electricals Ltd. Vs. ITO 5 ITD 361 wherein it was observed that “The scheme, in regard to the carried forward unabsorbed losses and 4 G.K. & Sons Pvt. Ltd., A.Y: 2011-12 depreciation

DCIT, CIRCLE - 11(1), KOLKATA , KOLKATA vs. M/S. HINDUSTHAN UDYOG LTD., , KOLKATA

In the result, the appeal of the Revenue is dismissed and the cross objection of the assessee is also dismissed as rendered infructuous

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1776/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10)

72A and Section 79 read with Rule 9C of the I.T. Act on account of brought forward loss from depreciation

DCIT, CIRCLE - 11(1), KOLKATA , KOLKATA vs. M/S. JCT LTD., , KOLKATA

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

depreciation of the appellant company. In computing book profit u/s 115JB also the gain on sale of above land substantially set off against the brought forward loss/depreciation as per books. The detail of Capital Gain computation as returned by the appellant company is presented as under: Sl. No. Particulars Amount 1. Description of the asset with measurement Bunglow on Plot

JCT LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1), , KOLKATA

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

depreciation of the appellant company. In computing book profit u/s 115JB also the gain on sale of above land substantially set off against the brought forward loss/depreciation as per books. The detail of Capital Gain computation as returned by the appellant company is presented as under: Sl. No. Particulars Amount 1. Description of the asset with measurement Bunglow on Plot

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. UNIQUE INTERNATIONAL PVT. LTD., KOLKATA

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

depreciation loss of the amalgamating company pertaining to A.Y. 2003- 04 and 2004-05 amounting to Rs.84,22,538/- was set off by the assessee- company against its income for the year under consideration. The claim of the assessee for such set off was examined by the Assessing Officer as per the relevant provisions of section 72A

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S BEEYU OVERSEAS LTD., KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 72A of the Act, by the ld. CIT(A). The ld. D/R could not controvert the findings of the ld. CIT(A). We find no infirmity in the order of the ld. CIT(A) and dismiss this ground of the revenue. 8. In the result revenue’s appeal for the Assessment Year 2002-03 is dismissed. 3 I.T.A

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S BEEYU OVERSEAS LTD., KOLKATA

In the result, both the appeals of the revenue are dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 72A of the Act, by the ld. CIT(A). The ld. D/R could not controvert the findings of the ld. CIT(A). We find no infirmity in the order of the ld. CIT(A) and dismiss this ground of the revenue. 8. In the result revenue’s appeal for the Assessment Year 2002-03 is dismissed. 3 I.T.A

D.C.I.T CIR - 7,KOLKATA., KOLKATA vs. M/S BCH ELECTRIC LTD( FORMERLY M/S BHARTIA INDUSTRIES LIMITED), KOLKATA

In the result, the appeal of the Revenue is dismissed, while the Cross Objection of the assessee is allowed

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

depreciation amounting to Rs.78,83,000/-. Grounds of Cross Objection by the assessee 1. That on the facts and on the circumstances of the case the learned CIT(A) had erred in not appreciating and deciding that the entire proceedings initiated under section 147/148 of the Act was bad in law, illegal, unjustified and abinitio void and the entire assessment

M/S. ITC INFOTECH INDIA LTD., ,KOLKATA vs. ACIT, CIRCLE - 2(1), , KOLKATA

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

72A') which assist the assessee in enhancing its marketing capabilities by providing marketing and administrative support services in these respective geographies. It is the case in every multinational group, the assessee also provides centralized management support and inside sales support services to these subsidiaries on a cost plus basis. Thus, during the year, the assessee has entered into different transactions

ACIT, CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. ITC INFOTECH INDIA LTD., , KOLKATA

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

72A') which assist the assessee in enhancing its marketing capabilities by providing marketing and administrative support services in these respective geographies. It is the case in every multinational group, the assessee also provides centralized management support and inside sales support services to these subsidiaries on a cost plus basis. Thus, during the year, the assessee has entered into different transactions