DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13

34. We find that on similar facts and circumstances the co-ordinate Bench of this Tribunal at Mumbai in the case of M/s. Kankia Spaces Pvt Ltd in ITA No. 7288 & 7289/Mum/2017 dated 23.04.2019 after considering the decision of Hon'ble Gujarat High Court in the case of CIT Vs. Neha Builders (P) Ltd., (supra) and the decision

M/S. FUTURE DISTRIBUTORS,KOLKATA vs. PR.CIT, KOLKATA - 9, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

10. The ld. counsel for the assessee, at the outset, explained the entire modus operandi of the business through which the lottery tickets issued by the Royal Government of Bhutan were distributed. He submitted that the Royal Government of Bhutan had appointed M/s. Martin Lottery Agencies Limited (earlier known as Future Gaming Solutions India Pvt. Limited and now as Future

DCIT, LTU-2, KOLKATA vs. M/S CENTURY PLYBOARDS (I), LTD, KOLKATA

In the result, the appeal of the revenue is dismissed and cross objections of assessee are allowed

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2014-15

section 115JB of the Act. In the said return, dividend income of Rs.4,89,391/- was claimed to be exempt u/s 10(34) of the Act by the assessee. In relation thereto, the assessee disallowed

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

34. The AO found that in past assessments similar payments made to M/s. RPG Enterprises Ltd as licence fees and were disallowed and since the nature of agreement was same in earlier years. The AO disallowed Rs. 2,91,00,000/- and added the same to the total income of the assessee. 35. On first appeal, the CIT-A after

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

10. Ground No. 5 relates to the Ld. CIT(A) erring in directing the Ld. AO to delete the disallowance of ₹1,19,67,718/- computed u/s14A of the Act read with Rule 8D(2)(ii) of the Income Tax Rules, 1962 and to restrict expenses for the investments which actually yielded dividend income to the assessee company during

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

10. Ground No. 5 relates to the Ld. CIT(A) erring in directing the Ld. AO to delete the disallowance of ₹1,19,67,718/- computed u/s14A of the Act read with Rule 8D(2)(ii) of the Income Tax Rules, 1962 and to restrict expenses for the investments which actually yielded dividend income to the assessee company during

SHYAM SUNDAR AGARWAL,KOLKATA vs. PR.CIT, CENTRAL - 2, KOLKATA , KOLKATA

In the result, the appeals are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 1895/Kol/2017 Assessment Year : 2013-14 Shri Vinod Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acrpa 8096 M] (Respondent) (Appellant) I.T.A No. 1896/Kol/2017 Assessment Year : 2013-14 Shri Shyam Sundar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 7814 N] (Respondent) (Appellant) I.T.A No. 1897/Kol/2017 Assessment Year : 2013-14 Shri Ram Naresh Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 1903 G] (Respondent) (Appellant) I.T.A No. 1898/Kol/2017 Assessment Year : 2013-14 Shri Pawan Kumar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Actpa 2421 L] (Respondent) (Appellant) For The Appellant : Shri S.K.Tulsiyan, Advocate For The Respondent : Md. Usman, Cit(Dr) Date Of Hearing : 18.12.2017. Date Of Pronouncement : 03.01.2018. Shri Vinod Agarwal & Ors. A.Yr.2013-14 Order Per N.V.Vasudevan, Jm

disallowed in the hands of the firm or the amount is varied in subsequent proceedings, the partner's assessment can be rectified [section 155(1A)]." He submitted that the above Circular, reiterates the settled judicial principle (being that for the purposes of a taxing statute, the Firm is to be considered as having a separate juristic entity distinct from

VINOD AGARWAL,KOLKATA vs. PCIT, CENTRAL-2, KOLKATA, KOLKATA

In the result, the appeals are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 1895/Kol/2017 Assessment Year : 2013-14 Shri Vinod Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acrpa 8096 M] (Respondent) (Appellant) I.T.A No. 1896/Kol/2017 Assessment Year : 2013-14 Shri Shyam Sundar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 7814 N] (Respondent) (Appellant) I.T.A No. 1897/Kol/2017 Assessment Year : 2013-14 Shri Ram Naresh Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 1903 G] (Respondent) (Appellant) I.T.A No. 1898/Kol/2017 Assessment Year : 2013-14 Shri Pawan Kumar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Actpa 2421 L] (Respondent) (Appellant) For The Appellant : Shri S.K.Tulsiyan, Advocate For The Respondent : Md. Usman, Cit(Dr) Date Of Hearing : 18.12.2017. Date Of Pronouncement : 03.01.2018. Shri Vinod Agarwal & Ors. A.Yr.2013-14 Order Per N.V.Vasudevan, Jm

disallowed in the hands of the firm or the amount is varied in subsequent proceedings, the partner's assessment can be rectified [section 155(1A)]." He submitted that the above Circular, reiterates the settled judicial principle (being that for the purposes of a taxing statute, the Firm is to be considered as having a separate juristic entity distinct from

RAM NARESH AGARWAL,KOLKATA vs. PCIT, CENTRAL-2, KOLKATA, KOLKATA

In the result, the appeals are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 1895/Kol/2017 Assessment Year : 2013-14 Shri Vinod Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acrpa 8096 M] (Respondent) (Appellant) I.T.A No. 1896/Kol/2017 Assessment Year : 2013-14 Shri Shyam Sundar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 7814 N] (Respondent) (Appellant) I.T.A No. 1897/Kol/2017 Assessment Year : 2013-14 Shri Ram Naresh Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 1903 G] (Respondent) (Appellant) I.T.A No. 1898/Kol/2017 Assessment Year : 2013-14 Shri Pawan Kumar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Actpa 2421 L] (Respondent) (Appellant) For The Appellant : Shri S.K.Tulsiyan, Advocate For The Respondent : Md. Usman, Cit(Dr) Date Of Hearing : 18.12.2017. Date Of Pronouncement : 03.01.2018. Shri Vinod Agarwal & Ors. A.Yr.2013-14 Order Per N.V.Vasudevan, Jm

disallowed in the hands of the firm or the amount is varied in subsequent proceedings, the partner's assessment can be rectified [section 155(1A)]." He submitted that the above Circular, reiterates the settled judicial principle (being that for the purposes of a taxing statute, the Firm is to be considered as having a separate juristic entity distinct from

PAWAN KUMAR AGARWAL,KOLKATA vs. PR.CIT, CENTRAL - 2, KOLKATA , KOLKATA

In the result, the appeals are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 1895/Kol/2017 Assessment Year : 2013-14 Shri Vinod Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acrpa 8096 M] (Respondent) (Appellant) I.T.A No. 1896/Kol/2017 Assessment Year : 2013-14 Shri Shyam Sundar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 7814 N] (Respondent) (Appellant) I.T.A No. 1897/Kol/2017 Assessment Year : 2013-14 Shri Ram Naresh Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Acypa 1903 G] (Respondent) (Appellant) I.T.A No. 1898/Kol/2017 Assessment Year : 2013-14 Shri Pawan Kumar Agarwal -Vs.- Pr.C.I.T.Central, Kolkata-2, Kolkata Kolkata [Pan : Actpa 2421 L] (Respondent) (Appellant) For The Appellant : Shri S.K.Tulsiyan, Advocate For The Respondent : Md. Usman, Cit(Dr) Date Of Hearing : 18.12.2017. Date Of Pronouncement : 03.01.2018. Shri Vinod Agarwal & Ors. A.Yr.2013-14 Order Per N.V.Vasudevan, Jm

disallowed in the hands of the firm or the amount is varied in subsequent proceedings, the partner's assessment can be rectified [section 155(1A)]." He submitted that the above Circular, reiterates the settled judicial principle (being that for the purposes of a taxing statute, the Firm is to be considered as having a separate juristic entity distinct from

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

section 10(34) of the Act in its return of income for the year under consideration. In earning the aforesaid dividend income, the respondent incurred an aggregate expenditure of Rs. 44,450 which was also certified by the tax auditors in Form No. 3CD (placed at pages 14 to 38 (relevant page 20 of the Paper book). In its return

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

10(34) of the Income Tax Act and accordingly is not satisfactory in accordance with the provision of 14A of the Income Tax Act. The Jurisdictional Calcutta High Court in the case of Dhanuka & Sons Vs CIT (339 1TR 319), disallowance under section

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

10(34) of the Income Tax Act and accordingly is not satisfactory in accordance with the provision of 14A of the Income Tax Act. The Jurisdictional Calcutta High Court in the case of Dhanuka & Sons Vs CIT (339 1TR 319), disallowance under section

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that the assessee had offered a suo moto disallowance of Rs,76,85,257/- the net disallowance stands at Rs,6,01,17,776. 06. In respect of this ground, during the course

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that the assessee had offered a suo moto disallowance of Rs,76,85,257/- the net disallowance stands at Rs,6,01,17,776. 06. In respect of this ground, during the course

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that the assessee had offered a suo moto disallowance of Rs,76,85,257/- the net disallowance stands at Rs,6,01,17,776. 06. In respect of this ground, during the course

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that the assessee had offered a suo moto disallowance of Rs,76,85,257/- the net disallowance stands at Rs,6,01,17,776. 06. In respect of this ground, during the course

ACIT, CIRCLE-5, KOLKATA, KOLKATA vs. M/S KESORAM INDUSTRIES. LTD, KOLKATA

In the result the revenue’s appeals for A

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

section 10(34) of the Act. For earning the exempt income, the assessee had offered disallowance of Rs. 10,00,000/- under