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

disallowance exceeding the exempt income, is unreasonable and contrary to the intent of Section 14A. This judgment reinforced that the disallowance

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

exempt income is to be disallowed. The window for disallowance is indicated in s. 14A, and is only to the extent

NAGA DHUNSERI GROUP LTD.,KOLKATA vs. P.C.I.T.-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

exempt income, which disallowance u/s 14A read with Rule 8D in respect of exempt income, which disallowance u/s 14A read

JCIT, (OSD), CIRCLE - 6(1), KOLKATA , KOLKATA vs. M/S. ISG TRADERS LTD., , KOLKATA

In the result, the appeal of revenue is dismissed

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm] Assessment Year: 2012-13

disallowance to the extent of exempt income. As regards to restriction of disallowance to the extent of exempt income, in this

GRAPHITE INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

exempt income not required to be disallowed under section 14A. In other words, since there is no exempt income, there

DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. MCNALLY BHARAT ENGINEERING COMPANY LIMITED, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) Dcit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Ltd. M/S Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent/Cross-Objector)

disallowance of Rs.3,13,29,549/- in relation to the exempt income in nature of dividends amounting to Rs.1,27,08,716/. The Revenue

DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. MCNALLY BHARAT ENGINEERING COMPANY LIMITED, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) Dcit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Ltd. M/S Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent/Cross-Objector)

disallowance of Rs.3,13,29,549/- in relation to the exempt income in nature of dividends amounting to Rs.1,27,08,716/. The Revenue

SHRI SANTANU SANYAL,KOLKATA vs. ACIT, CIR. 2(1), KOLKATA

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

Bench: Dr. Manish Borad & Pradip Kumar Choubey

disallowed the exemption claimed by the appellant under Article 61 of the India-UK Double Taxation Avoidance Agreement amounting to INR 57,93,857/-. So far as other

TANTIA FINANCIAL SERVICES LTD,KOLKATA vs. ITO, WARD-4(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee on this ground , is allowed

Bench: Shri S. S. Viswanethra Ravi, Jm & Dr. A. L. Saini, Am]

disallowance under rule 8D cannot exceed exempt income. Hence, the disallowance of Rs.53,08,614/- u/s. 14A is confirmed.” For issue

M/S. SPML INFRA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 8(2), KOLKATA , KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1228/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

disallowance u/s 14A of the IT Act,1961 of the IT Act 1961 to Rs.43,16,078/- considering only those investments which have yielded the exempted

DCIT, CIRCLE - 8(2), KOLKATA , KOLKATA vs. M/S. SPML INFRA LIMITED , KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1228/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

disallowance u/s 14A of the IT Act,1961 of the IT Act 1961 to Rs.43,16,078/- considering only those investments which have yielded the exempted

DCIT, CENTRAL CIR. VI, KOLKATA vs. M/S J.K. LAKSHMI CEMENT LTD., KOLKATA

In the result, assessee’s CO is partly allowed

Bench: Shri Waseem Ahmed & Shri Partha Sarathi Chowdhury

disallowances under the provisions of MAT in relation to exempted income we find that the disallowance needs to be made

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

disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt

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

exempted dividend income, proportionate disallowance of expenditure relating to the earning of such exempt income is required to be made

EMERALD COMPANY LTD.,KOLKATA vs. DCIT, CIR-8, KOLKATA, KOLKATA

In the result the appeal by the assessee is allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No.596/Kol/2016 Assessment Year : 2006-07

disallowed 1% of the exempt income of Rs.5,36,77,242/-. The aforesaid disallowance of 1% of the exempt income

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

disallowance u/s. 14A in respect of earning of exempt income. During the assessment proceedings, the assessee company was asked why disallowance

ITO, WD-12(4), KOLKATA, KOLKATA vs. M/S SHEE SEN LEATHER PVT. LTD., KOLKATA

In the result, the appeal filed by the Revenue (Ground No

Bench: Shri S.S. Viswanethra Ravi, Jm & Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.1044/Kol/2014 (िनधा"रणवष" / Assessment Year: 2010-11) I.T.O, Ward-12(4), Kolkata Vs. M/S Shee Sen Leather Pvt. Ltd. 114/C, Matheswartolla Road, Aayakarbhavan (7Th Floor), P-7, Kolkata – 700 046. Chowringhee Square, Kolkata – 69. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaecs 3938 C (Appellant) .. (Respondent) Appellant By : Shri Saurabh Kumar, Addl. Cit(Dr) Respondent By : Shri S.M. Surana, Advocate & V.N. Purohit, Fca सुनवाईकीतारीख/ Date Of Hearing : 18/10/2017 घोषणाकीतारीख/Date Of Pronouncement : 17/01/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year 2010-11, Is Directed Against An Order Passed By The Cit(A)-Xii, Kolkata, In Appeal No.111/Xii/Cir-12/13-14, Dated 19.02.2014, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S.143(3) Of The I.T. Act, 1961 (Hereinafter Referred To As The ‘Act’), Dated 28.03.2013. 2. The Grounds Of Appeal Raised By The Revenue Are As Follows: “1. That Is The Facts & In Law Of The Case The Ld. Cit(A) Erred In Deleting The Addition Amounting To Rs.29,84,786/- Made The Ao On Account Of Difference In Valuation In Closing Stock & G.P. On Unaccounted Sales Of Chemicals Which Was Detected On The Basis Of Findings Of Survey U/S 133A.

exempted income but he had not disallowed any expenses against exempted income. The assessee has, during the year earned exempted

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

disallowance of the expenditure\nu/s. 14A read with Rule 8D even where taxpayer in a particular year has\nnot earned any exempt