DCIT, CIRCLE -8, KOLKATA, KOLKATA vs. M/S. OBEROI HOTELS PVT. LTD., KOLKATA

In the result, assessee’s appeals in ITA Nos

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

disallowance being related to exempted income. According to us, in view of the above facts and circumstances, no further disallowance

OBEROI HOTELS PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE -8, KOLKATA, KOLKATA

In the result, assessee’s appeals in ITA Nos

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

disallowance being related to exempted income. According to us, in view of the above facts and circumstances, no further disallowance

ITC LIMITED,KOLKATA vs. ACIT, RG-8, KOLKATA, KOLKATA

Appeal is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ]

disallowance of the expenditure u/s 14A r.w.r 8D requires proximate relationship with the tax exempt income. The disallowance is simply

DCIT, CIR-8, KOLKATA, KOLKATA vs. M/S ITC LIMITED, KOLKATA

Appeal is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ]

disallowance of the expenditure u/s 14A r.w.r 8D requires proximate relationship with the tax exempt income. The disallowance is simply

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

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

exempt income and therefore no expenditure can be disallowed as expenditure incurred in earning exempt dividend income. As per the provisions

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

exempted income no expenditure had been incurred, disallowance under section 14A could not stand. Consequently, the disallowance was not permissible

R vs. MANAGEMENT LTD.,KOLKATAVS.CIT (A)-5, KOLKATA, KOLKATA

In the result, appeal of assessee is partly allowed

Bench: Shri Mahavir Singh, Jm]

exempt income and accordingly, 0.5% is much lower disallowance than the expenses estimated with the exempt income. Accordingly, he made

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

GAUTAM KUMAR MITRA,KOLKATA vs. D.C.I.T CIR - 54,KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

disallowance a nexus between the exempt income and the expenditure to be disallowed has to be established. He averred that

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

D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S TEENLOK ADVISORY SERVICES PVT LTD, MUMBAI

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

Bench: Shri P.M. Jagtap & Shri N.V. Vasudevan

exempt by the assessee and a disallowance of Rs.1,20,000/- was offered under section 14A on account of expenditure

DCIT, CIRCLE - 34, KOLKATA, KOLKATA vs. M/S. BANWARILALL PASARI, KOLKATA

In the result, both the appeals of revenue and the cross objections of assessee are partly allowed as indicated above

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

disallowance u/s. 14A of the Act qua the exempt income but restricted the disallowance to the extent of exempt income