APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Disallowance u/s 14A 16,73,473 18,00,595 65,23,307 1,40,266 Deemed Dividend 21,92,55,967 47,07,00,000 5,15,00,000 1,15,00,000 u/s 2(22)(e) PF and ESI u/s - 27,126 53,507 34,631 2(24)(x) Disallowance

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Disallowance u/s 14A 16,73,473 18,00,595 65,23,307 1,40,266 Deemed Dividend 21,92,55,967 47,07,00,000 5,15,00,000 1,15,00,000 u/s 2(22)(e) PF and ESI u/s - 27,126 53,507 34,631 2(24)(x) Disallowance

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Disallowance u/s 14A 16,73,473 18,00,595 65,23,307 1,40,266 Deemed Dividend 21,92,55,967 47,07,00,000 5,15,00,000 1,15,00,000 u/s 2(22)(e) PF and ESI u/s - 27,126 53,507 34,631 2(24)(x) Disallowance

M/S. MERINO INDUSTRIES LIMITED ,KOLKATA vs. DCIT, CIRCLE - 12(1), KOLKATA , KOLKATA

In the result, the appeal of the revenue is hereby dismissed

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A No.174/Kol/2019 Assessment Year: 2014-15 Dcit, Circle-12(1), Kolkata…………………….................................……Revenue Vs. M/S Merino Industries Ltd.…………....................................……...…..…..Assessee 5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700020. [Pan: Aaacc9186C] I.T.A No.292/Kol/2019 Assessment Year: 2014-15 M/S Merino Industries Ltd …………………….…….......................…… Assessee 5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700020. [Pan: Aaacc9186C] Vs. Dcit, Circle-12(1), Kolkata.…….................................……....…........….. Revenue Appearances By: Shri Shyam Sundar Jha, Ar, Appeared On Behalf Of The Assessee. Shri Prakash Nath Barnwal, Cit-Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : December 12, 2024 Date Of Pronouncing The Order : February 06, 2025 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Are Cross-Appeals, One By The Assessee & The Other By The Revenue Against The Common Order Dated 09.10.2018 Of The Commissioner Of Income Tax (Appeals)-4, Kolkata [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since The Facts & Issued Involved In Both The Appeals Are Identical & Both The Appeals Are Arising Out Of The Same

deemed dividend under section 2(22)(e) of the Income Tax Act, 1961. 1. The assessee company also submitted assessment orders of various previous AY's wherein assessment u/s 143(3) of the IT Act, 1961 was duly completed. The assessee submitted that similar financial transactions were undertaken by the assessee company with its subsidiary company and all the relevant

DCIT, CIRCLE - 12(1), KOLKATA , KOLKATA vs. M/S. MERINO INDUSTRIES LIMITED , KOLKATA

In the result, the appeal of the revenue is hereby dismissed

dividend were not applicable in the case of the assessee. The\nrelevant part of the remand report dated 10.05.2023 of the Assessing\nOfficer is reproduced as under:\n“In view of the above, the following points are need to be highlighted;\n1. The assessee сотрапу availed unsecured financial\naccommodation for working capital and other operational needs\nwith M/s. Merino Panel

D.C.I.T., CC-3(4), KOLKATA, KOLKATA vs. M/S. FORUM PROJECT PVT. LTD., KOLKATA

In the result, all the three captioned appeals of the revenue are hereby dismissed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.(Ss)A Nos.108,109&585/Kol/2022 Assessment Years: 2010-11, 2011-12 & 2012-13 Dcit, Cc-3(2), Kolkata..................................................................……Appellant Vs. M/S Forum Projects Pvt. Ltd...........................……........……...…..…..Respondent 4/1, Red Cross Place, Dalhousie, Kolkata-1. [Pan: Aadcs7575E] Appearances By: Shri Subhrajyoti Bhattacharjee, Cit(Dr), Appeared On Behalf Of The Appellant. Shri Soumitra Choudhury, Advocate, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 30, 2023 Date Of Pronouncing The Order : June 05, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Revenue Against The Separate Orders Dated 20.05.2022, 08.06.2022 & 25.11.2014 Respectively Of The Commissioner Of Income Tax (Appeals)-21, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) Contesting Therein The Confirmation Of Additions Made By The Assessing Officer (In Short ‘The A.O) In The Assessments Carried Out U/S 153A Of The Act. Since The Facts & Issues Involved In All These Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. First We Take Revenue’S Appeal In Ita No.108/Kol/2022 For Assessment Year 2010-11. I.T.(Ss)A Nos.108,109&585/Kol/2022 Assessment Years: 2010-11, 2011-12 & 2012-13 M/S Forum Projects Pvt. Ltd.

deemed dividend u/s 2(22)(e) of the Income Tax Act 1961. 2. That on the facts and circumstances of the case and in law, the ld. CIT(A) has erred in deleting the disallowance

D.C.I.T., CC - 2(3), KOLKATA, KOLKATA vs. EKO DIAGNOSTIC PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

deemed dividend u/s 2(22)(e) of the Act at Rs.2,51,10,067/- and also deletion of disallowance of commission

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

dividend income (exempt\nincome) due to investment in shares, is being determined in accordance with\nthe provisions of Clause-(ii) & Clause-(iii) to sub-rule (2) of Rule 8D in\nfollowing manner.\n(i) The amount of expenditure directly relating to income which does not form\npart of total income Not Available, hence treated

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

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

dividend income (exempt\nincome) due to investment in shares, is being determined in accordance with\nthe provisions of Clause-(ii) & Clause-(iii) to sub-rule (2) of Rule 8D in\nfollowing manner.\n(i) The amount of expenditure directly relating to income which does not form\npart of total income Not Available, hence treated

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

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

dividend income (exempt\nincome) due to investment in shares, is being determined in accordance with\nthe provisions of Clause-(ii) & Clause-(iii) to sub-rule (2) of Rule 8D in\nfollowing manner.\n(i) The amount of expenditure directly relating to income which does not form\npart of total income Not Available, hence treated

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

dividend income (exempt\nincome) due to investment in shares, is being determined in accordance with\nthe provisions of Clause-(ii) & Clause-(iii) to sub-rule (2) of Rule 8D in\nfollowing manner.\n(i) The amount of expenditure directly relating to income which does not form\npart of total income Not Available, hence treated

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

dividend to the assessee company for\nthe purpose of computation of disallowance under Rule 8D (2)(iii) of the\nIncome Tax Rules, 1962 without considering the CBDT Circular No. 5/2014\nissued on 11.02.2014 which provides for disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt income

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

dividend to the assessee company for the purpose of computation of disallowance under Rule 8D (2)(iii) of the Income Tax Rules, 1962 without considering the CBDT Circular No. 5/2014 issued on 11.02.2014 which provides for disallowance of the expenditure u/s. 14A read with Rule 8D even where taxpayer in a particular year has not earned any exempt income

XL ENTERPRISES LTD.,KOLKATA vs. ITO, WARD - 12(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

disallowance to the extent of Rs. 4,55,83131/- as made by the AO u/s 2(22)(e) of the Act. 3. Facts in brief are that the assessee filed return of income on 27.09.2012 declaring total income of Nil. The case of the assessee was selected for scrutiny and 2 I.T.A. No. 2105/Kol/2019 Assessment Year

PARTHA PRIYA BANERJEE ,BURDWAN vs. ACIT,CIR-2, DURGAPUR. , DURGAPUR

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

Bench: Shri Sonjoysarma & Shri Girish Agrawal]

disallowed a sum of Rs. 30,58,488/- representing the opening balance of reserve and surplus of M/s. Gati Motors Pvt. Ltd. by treating as deemed dividend

S.K.DEVELOPMENT PVT. LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-5(1), KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2013-14 S. K. Development Private Deputycommissioner Of Limited. Income-Tax,Circle- 5(1), Vs. 23A, N. S. Road, 10Th Floor, Kolkata. Kolkata-700001. (Pan: Aadcs7398K) (Appellant) (Respondent)

disallowed expenditure amounting to 9,11,817/­ on the ground that expenditure being related to house property and not related to business income. 2. That on the facts and in the circumstances of the case, Ld. CIT(A) erred in confirming the addition of Rs. 3,00,000/­ on account of deemed dividend

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

dividend to the assessee company for\nthe purpose of computation of disallowance under Rule 8D (2)(iii) of the\nIncome Tax Rules, 1962 without considering the CBDT Circular No. 5/2014\nissued on 11.02.2014 which provides for disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt income

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

dividend to the assessee company for\nthe purpose of computation of disallowance under Rule 8D (2)(iii) of the\nIncome Tax Rules, 1962 without considering the CBDT Circular No. 5/2014\nissued on 11.02.2014 which provides for disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt income

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

In the result, the appeals filed by the assessee in ITA Nos

dividend to the assessee company for\nthe purpose of computation of disallowance under Rule 8D (2)(iii) of the\nIncome Tax Rules, 1962 without considering the CBDT Circular No. 5/2014\nissued on 11.02.2014 which provides for disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt income