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252 results for “depreciation”+ Short Term Capital Gainsclear

Sorted by relevance

Mumbai1,491Delhi959Chennai380Bangalore343Kolkata252Ahmedabad183Jaipur128Hyderabad89Chandigarh86Karnataka55Raipur53Pune50Indore46Cochin31SC24Visakhapatnam24Surat23Lucknow20Rajkot18Kerala11Nagpur11Panaji8Guwahati8Cuttack6Calcutta6Jodhpur5Telangana5Amritsar3Dehradun3Ranchi2Rajasthan2Punjab & Haryana2Allahabad1Agra1A.K. SIKRI N.V. RAMANA1MADAN B. LOKUR S.A. BOBDE1Jabalpur1Patna1Gauhati1ASHOK BHAN DALVEER BHANDARI1

Key Topics

Section 143(3)94Section 14A69Section 115J64Disallowance38Section 14733Deduction30Section 26328Addition to Income27Depreciation25Section 80I

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

ITA 1119/KOL/2024[2016-2017]Status: DisposedITAT Kolkata19 Dec 2024AY 2016-2017

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

For Appellant: Shri Soumitra Choudhary, ARFor Respondent: Shri Prabhakar Prakash Ranjan, DR
Section 142(1)Section 45Section 50Section 50C

gain resulting from the transfer of the depreciable capital asset should not be considered as a short-term capital gain

Showing 1–20 of 252 · Page 1 of 13

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22
Section 25020
Section 2(15)20

INFINITY INFOTECH PARKS LTD.,KOLKATA vs. PCIT-1, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 32/KOL/2022[2017-18]Status: DisposedITAT Kolkata18 Apr 2022AY 2017-18

Bench: Shri A. T. Varkey, Jm & Shri Rajesh Kumar, Am ]

Section 143(3)Section 263Section 32Section 43(6)Section 50Section 72

short term capital gains as appearing in the ‘computation of Total Income’ and legal basis of set off of business losses with capital gains income.” 21. And the assessee has replied as under (Page 41-42 of paper-book): “During the previous year 2014-15 we have derived gain from the transfer of depreciable

THE PEERLESS GEN. FIN. & INV. CO. LTD.,KOLKATA vs. DCIT, CIRCLE-3(1), KOLKATA, KOLKATA

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

ITA 892/KOL/2019[2014-15]Status: DisposedITAT Kolkata19 Mar 2021AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 143(3)Section 2Section 263Section 50

gain and not to deem the asset as short-term capital asset. Section 50 did not convert a long-term capital asset into a short-term capital asset. Though section 50 was enacted with the object of denying multiple benefits to owners of depreciable

EIH LIMITED,KOLKATA vs. DCIT, CIR-8(1)KOL., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

ITA 117/KOL/2017[2012-13]Status: DisposedITAT Kolkata16 May 2018AY 2012-13

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

Section 14Section 144C(13)Section 14ASection 14A(2)Section 92B

term capital gains on sale of depreciable assets. We hold that the deeming fiction created by section 50 of the Act that the capital gain arising on transfer of a depreciable asset shall be treated as capital gain arising on transfer of short

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

ITA 110/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

term capital gains on sale of depreciable assets. We hold that the deeming fiction created by section 50 of the Act that the capital gain arising on transfer of a depreciable asset shall be treated as capital gain arising on transfer of short

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

ITA 153/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

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:

For Appellant: Shri Kanchun Kaushal,ARFor Respondent: Shri G.Mallikarjuna, CIT DR
Section 14ASection 14A(2)

term capital gains on sale of depreciable assets. We hold that the deeming fiction created by section 50 of the Act that the capital gain arising on transfer of a depreciable asset shall be treated as capital gain arising on transfer of short

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

ITA 1064/KOL/2010[2006-07]Status: DisposedITAT Kolkata16 Nov 2016AY 2006-07

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Rabin Chaudhury, JCIT
Section 143(3)Section 14A

short term and long term capital gains from the assessee vide letter dated 23.9.2008. The details of the same were duly furnished by the assessee. From the same, the ld AO observed that in view of the frequency and magnitude of the transactions carried out by the assessee, he propose to treat the gains arising on sale of shares

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. VEDA COMMERCIAL PVT. LTD., KOLKATA

Appeal is partly allowed for statistical purposes

ITA 1527/KOL/2010[2007-08]Status: DisposedITAT Kolkata16 Nov 2016AY 2007-08

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Rabin Chaudhury, JCIT
Section 143(3)Section 14A

short term and long term capital gains from the assessee vide letter dated 23.9.2008. The details of the same were duly furnished by the assessee. From the same, the ld AO observed that in view of the frequency and magnitude of the transactions carried out by the assessee, he propose to treat the gains arising on sale of shares

DCIT CIR - 6,KOLKATA., KOLKATA vs. M/S K.B. CAPITAL MARKETS LTD., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

ITA 1882/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

DEPRECIATION(AS PER ACCO 11,47,217.00 Expenses disallowed u/s 14A 825,00,965.00 Dividend Stripping u/s 94(7) 37,924.00 15,14,479.00 BUSINESS INCOME 226,57,496.00 CAPITAL GAINS TOTAL CAPITAL GAINS 1089,05,015.00 LONG TERM CAPITAL GAINS (EXEMPT U/s 10) 825,00,965.00 SHORT

KB CAPITAL MARKETS (P) LTD.,KOLKATA vs. D.C.I,.T CIR - 6 , KOLKATA., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

ITA 1726/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

DEPRECIATION(AS PER ACCO 11,47,217.00 Expenses disallowed u/s 14A 825,00,965.00 Dividend Stripping u/s 94(7) 37,924.00 15,14,479.00 BUSINESS INCOME 226,57,496.00 CAPITAL GAINS TOTAL CAPITAL GAINS 1089,05,015.00 LONG TERM CAPITAL GAINS (EXEMPT U/s 10) 825,00,965.00 SHORT

M/S PYNE PROPERTIES PVT LTD,KOLKATA vs. I.T.O WD - 5(2),KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1791/KOL/2013[2008-09]Status: DisposedITAT Kolkata05 Aug 2016AY 2008-09

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

Section 50Section 55A

capital gain as Short Term in terms of the provisions of Sec. 50 of the Act, the Assessee submitted a letter dated 29.07.2011 requesting him to furnish copies of computation of its total income filed along with its Returns and also copies of its assessment orders showing grant of depreciation

D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S A.K.G FINVEST LTD, KOLKATA

In the result, appeal of revenue is dismissed

ITA 1341/KOL/2013[2009-2010]Status: DisposedITAT Kolkata15 Mar 2016AY 2009-2010

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri Rajendra Prasad, JCITFor Respondent: Shri Ravi Tulsiyan, FCA
Section 143(3)Section 45Section 73

term appreciation and the mere fact that the shares were sold in a short span of time of its acquisition due to steep and unanticipated rise in stock market does not mean that the intention of the assessee at the time of purchase of shares was not to hold them for a long period of time or to deal

I.T.O WD - 12(3),KOLKATA., KOLKATA vs. M/S FIESTA SALES & SERVICES LTD., KOLKATA

In the result the appeal of the revenue is dismissed

ITA 289/KOL/2013[2009-10]Status: DisposedITAT Kolkata01 Jul 2016AY 2009-10

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] Assessment Year : 2009-10

For Appellant: Shri Arindam Bhattacharya, JCITFor Respondent: Shri Ravi Tulsiyan. FCA
Section 143(3)Section 50

Term Capital Gains' on the sole pretext that since the purchaser, M/s Magma Fincorp Ltd, had claimed depreciation on right to carry on business, the said right is a depreciable capital asset and consequently, the gain arising on sale of the said right should be treated as 'Short

AMBO AGRO PRODUCTS LTD.,KOLKATA vs. THE PCIT, KOLKATA-1, KOLKATA

In the result, appeal of assessee is allowed

ITA 676/KOL/2016[2009-2010]Status: DisposedITAT Kolkata19 May 2017AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 143(2)Section 143(3)Section 263Section 50Section 50B

gains arising from the transfer of short-term capital assets. 2) In relation to capital assets being an undertaking or division transferred by way of such sale, the "net worth" of the undertaking or the division, as the case may be, shall be deemed to be the cost of acquisition and the cost of improvement for the purposes of sections

M/S TITAGARH INDUSTRIES LTD. (FORMERLY M/S BHATPARA PAPERS LTD.),KOLKATA vs. DCIT, CIRCLE-4(1), KOLKATA, KOLKATA

In the result, appeal of assessee is allowed

ITA 1052/KOL/2017[2012-13]Status: DisposedITAT Kolkata04 Jul 2018AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139Section 143(3)Section 263Section 50Section 50(2)

short term capital gain was wrongly assessed because in his opinion, the expression “Block of Assets” did not include in its ambit “Capital WIP” because no depreciation

SPML INFRA LIMITED,NEW DELHI vs. PCIT-1 , KOLKATA

In the result, appeal filed by the assessee is allowed

ITA 510/KOL/2021[2017-18]Status: DisposedITAT Kolkata27 Apr 2022AY 2017-18

Bench: Sri Sanjay Garg & Sri Manish Borad)

Section 143(3)Section 263Section 263(1)Section 80I

short term capital gain and the same was wrongly set off against loss of earlier assessment year 2015-16. The assessee derived the gain at Rs.27.32 (Rs.1216.12 - Rs.1188.80) lakh by taking into account the building cost (WDV) for Rs.1188.80 lakh. However, the actual cost of building shown under disposal as per Gross Block value of the building account was Rs.322.45

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

ITA 2389/KOL/2018[2011-12]Status: DisposedITAT Kolkata08 Jul 2020AY 2011-12

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

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 250Section 32(2)

term capital gain of Rs. 107,98,39,652/-. However, post amalgamation with the appellant company the entire gain on sale of above land was set off against the brought forward unabsorbed 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

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

ITA 84/KOL/2019[2011-12]Status: DisposedITAT Kolkata08 Jul 2020AY 2011-12

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

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 250Section 32(2)

term capital gain of Rs. 107,98,39,652/-. However, post amalgamation with the appellant company the entire gain on sale of above land was set off against the brought forward unabsorbed 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

STEWARTS & LLOYDS OF INDIA LIMITED,KOLKATA vs. COMMISSIONER OF INCOME TAX, KOL - I, KOLKATA

In the result the appeal by the Assessee is partly allowed

ITA 372/KOL/2009[2004-05]Status: DisposedITAT Kolkata02 Mar 2016AY 2004-05

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2004-05 Stewarts & Lloyds Of India Ltd. -Versus- C.I.T., Circle-1, Kolkata Kolkata (Pan:Aaecs 0445G) (Appellant ) (Respondent)

For Appellant: Shri Soumen Adak, ACA & Shri Prakash Singh,ACAFor Respondent: Shri Radhey Shyam, CIT.DR
Section 143(3)Section 263

short term capital asset' and 'long term capital asset' is the period over which the property has been held by the assessee and not the nature of the title of the property. It was his submission that in the case of the Assessee, possession of land was given to the Assessee in 1970 and by way of sale deed executed

DCIT, CIRCLE-3(1), KOLKATA, KOLKATA vs. THE PEERLESS GEN. FIN. & INV. CO. LTD., KOLKATA

Appeal is dismissed

ITA 1486/KOL/2019[2014-15]Status: DisposedITAT Kolkata22 Jul 2020AY 2014-15

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2014-15

Section 14ASection 194CSection 194LSection 2Section 37(1)Section 40Section 48Section 50

short term capital gains computed u/s 50 of the Act. There is no dispute about the basic fact that the assessee’s long term capital loss in issue arose on sale / transfer of the relevant block of assets i.e. its that building only. It had also claimed depreciation