JAIN INFRA PROJECTS LTD.,KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

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

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1237/Kol/2011 ("नधा"रण वष" /Assessment Year:2008-2009) Jain Infra Projects Ltd., Vs. Acit, Cc-Iv, 39, Shakespeare Sarai, Poddar Court, 18, Rabindra Kolkata-700017 Sarani, Kolkata-700001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccb 9831 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1244/Kol/2011 ("नधा"रण वष" /Assessment Year:2008-2009) Manoj Kumar Jain & Sons Vs. Acit, Cc-Iv, Kolkata (Huf) Poddar Court, 18, Rabindra 39, Shakespeare Sarai, Sarani, Kolkata-700001 Kolkata-700017 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. :Aaihm9669P .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

disallowance made of Rs.51,50,000/-. The penalty so levied is wrong and need to be deleted.” 5.1. Ld. AR for the assessee has submitted that penalty u/s.271AAA cannot be levied if the assessee admits the undisclosed income and satisfied the manner in which such income has been verified/admitted. The assessee himself has offered before the AO, the peak amount

MANOJ KUMAR JAIN & SONS (HUF),KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

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

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1237/Kol/2011 ("नधा"रण वष" /Assessment Year:2008-2009) Jain Infra Projects Ltd., Vs. Acit, Cc-Iv, 39, Shakespeare Sarai, Poddar Court, 18, Rabindra Kolkata-700017 Sarani, Kolkata-700001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccb 9831 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1244/Kol/2011 ("नधा"रण वष" /Assessment Year:2008-2009) Manoj Kumar Jain & Sons Vs. Acit, Cc-Iv, Kolkata (Huf) Poddar Court, 18, Rabindra 39, Shakespeare Sarai, Sarani, Kolkata-700001 Kolkata-700017 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. :Aaihm9669P .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

disallowance made of Rs.51,50,000/-. The penalty so levied is wrong and need to be deleted.” 5.1. Ld. AR for the assessee has submitted that penalty u/s.271AAA cannot be levied if the assessee admits the undisclosed income and satisfied the manner in which such income has been verified/admitted. The assessee himself has offered before the AO, the peak amount

DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA vs. M/S. ANDREW YULE & CO. LTD., KOLKATA

In the result, this ground of the We find no infirmity in such a claim

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2002-03 Assessment Year: 2003-04 Assessment Year: 2003-04

income, no separate disallowance or addition may be made. separate disallowance or addition may be made. 6. In the result

DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA vs. M/S. ANDREW YULE & CO. LTD., KOLKATA

In the result, this ground of the We find no infirmity in such a claim

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2002-03 Assessment Year: 2003-04 Assessment Year: 2003-04

income, no separate disallowance or addition may be made. separate disallowance or addition may be made. 6. In the result

DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA vs. M/S. ANDREW YULE & CO. LTD., KOLKATA

In the result, this ground of the We find no infirmity in such a claim

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2002-03 Assessment Year: 2003-04 Assessment Year: 2003-04

income, no separate disallowance or addition may be made. separate disallowance or addition may be made. 6. In the result

RANIGANJ CO-OPERATIVE BANK LTD,,RANIGANJ vs. DCIT, CIRCLE-2, ASANSOL, ASANSOL

In the result, ITA No.1983/Kol/2014 is partly allowed while ITA

Bench: Hon’Ble Sri N.V.Vasudevan, Jm ] I.T.A Nos.1983 & 1984/Kol/2014 Assessment Years : 2008-09 & 2009-10 Raniganj Co-Operative Bank Ltd. -Vs.- D.C.I.T., Circle-2 & Jcit Raniganj Range-2, Asansol (Pan:Aaffr 3315 J)) (Appellant) (Respondent) For The Appellant : Shri U.Dasgupta, Advocate For The Respondent : Shri Rajat Kumar Kureel, Jcit.Sr.Dr

income, the disallowance may please be deleted. Ground No. 8) For that computation of disallowance u. the assessment order made by the assessing officer, is technically erroneous and may please be modified.” 9. The additional

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

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

disallowance u/s 14A which was not permissible. 3. That on the facts and in the circumstances of the case the Commissioner of Income Tax (Appeals) erred in not deciding the issue of addition

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

The appeal is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

income to the assessee company during the year for determination of actual disallowance u/s. 14A of the Act. 6. That on the facts and the circumstances of the case, the Ld. CIT(A) erred in correct in restricting the Addition

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

The appeal is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

income to the assessee company during the year for determination of actual disallowance u/s. 14A of the Act. 6. That on the facts and the circumstances of the case, the Ld. CIT(A) erred in correct in restricting the Addition

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

addition by observing as under: “It has been found from the computation of total income furnished along with the return of income that the assessee company has earned Rs. 32,65,000/- as dividend which has been claimed to be exempt as income u/s. 10(34) of the Income Tax Act. The assessee has not offered any disallowance

BISWANATH HOSIERY MILLS LTD.,KOLKATA vs. ACIT, CIR. 4(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Rakesh Mishraassessment Year: 2017-18

income that has to be disallowed." 6.2.2. Additionally, it is noteworthy to mention that the judicial pronouncement of the Apex

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

income yielding investments deserve to be included for the purpose of determining the corresponding figures. We therefore restore the Revenue’s instant second substantive grievance to the extent of Rule 8D administrative disallowance computation back to the Assessing Officer. 11. Lastly comes the issue of sec. 115JB MAT computation qua the impugned sec. 14A read with Rule 8D disallowance. This

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

income yielding investments deserve to be included for the purpose of determining the corresponding figures. We therefore restore the Revenue’s instant second substantive grievance to the extent of Rule 8D administrative disallowance computation back to the Assessing Officer. 11. Lastly comes the issue of sec. 115JB MAT computation qua the impugned sec. 14A read with Rule 8D disallowance. This

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

income yielding investments deserve to be included for the purpose of determining the corresponding figures. We therefore restore the Revenue’s instant second substantive grievance to the extent of Rule 8D administrative disallowance computation back to the Assessing Officer. 11. Lastly comes the issue of sec. 115JB MAT computation qua the impugned sec. 14A read with Rule 8D disallowance. This

APEEJAY SHIPPING LTD.,KOLKATA vs. A.C.I.T CC - III,KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2010-11

income without making any addition or disallowance; or (b) The assessment is framed and the Assessing Officer makes certain addition

LEBONG INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE-11, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

disallowing the amounts invoking Rule8D. Therefore, the CIT(A)’s direction on this is set aside and the additions so made by the A.O. in the computation of business income

DCIT, CIRCLE - 6(1), KOLKATA, KOLKATA vs. M/S. INTEGRATED COAL MINING LIMITED, KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2010-11 Dcit, Circle-6(1), V/S. M/S Integrated Coal P-7, Chowringhee Mining Ltd., 6, Church Square, Kolkata-69 Lane, 1Ste Floor, Kolakta-700001 [Pan No.Aaaci 5584 L] .. अपीलाथ" /Appellant ""यथ"/Respondent Dr. P.K. Srihari, Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri Diparun Mukherjee, Aca & ""यथ" क" ओर से/By Respondent Shri Alolk Goenka, Aca 15-01-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement

Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused. 2. The Revenue’s first substantive ground pleads that the CIT(A) has erred in law and on facts in deleting RE and PE cess disallowance(s) / addition

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

addition made by the AO of Rs. 1.90 Crores, by disallowing the Provision created for Mine Closure since the provision is contingent in nature not being crystallised, both in normal computation of taxable income