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)

Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation to the extent of Rs.3,16,92,148/- is directed to be deleted. Ground Nos.6 to 10 are therefore allowed.” 10. It has come on record qua the assessee already succeeded in the instant twin aspects before the Tribunal in Assessment Years

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)

Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation to the extent of Rs.3,16,92,148/- is directed to be deleted. Ground Nos.6 to 10 are therefore allowed.” 10. It has come on record qua the assessee already succeeded in the instant twin aspects before the Tribunal in Assessment Years

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)

Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation to the extent of Rs.3,16,92,148/- is directed to be deleted. Ground Nos.6 to 10 are therefore allowed.” 10. It has come on record qua the assessee already succeeded in the instant twin aspects before the Tribunal in Assessment Years

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 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LIMITED,KOLKATA vs. DCIT, CIRCLE-5(1), KOLKATA, KOLKATA

In the result the revenue’s appeals for A

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

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LTD.,KOLKATA vs. DCIT, CIR-5, KOLKATA, KOLKATA

In the result the revenue’s appeals for A

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

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LIMITED,KOLKATA vs. ADDL C.I.T RG - 5,KOLKATA, KOLKATA

In the result the revenue’s appeals for A

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

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

D.C.I.T CIR - 5,KOLKATA, KOLKATA vs. M/S KESORAM INDUSTRIES LIMITED, KOLKATA

In the result the revenue’s appeals for A

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

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LTD.,KOLKATA vs. ADD.CIT,RANGE-5,, KOLKATA

In the result the revenue’s appeals for A

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

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

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

In the result, the appeal of the revenue for A

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 Acit Cir 34..............................………………………...........................................................Appellant Aayakar Bhawan, Poorva, 7Th Floor, 110, Shantipally, Kolkata – 107. M/S. Banwarilall Pasari………………………………………………...............................Respondent 16, India Exchange Place, Kolkata – 1. [Pan: Aacfb 7611 A] Appearances By: Shri Arindam Bhattacharjee, Addl. Cit Appearing On Behalf Of The Revenue. Shri S. Jhajharia, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : February 15, 2018 Date Of Pronouncing The Order : March 14, 2018 Order

108 has again held that disallowance under Rule 8D(2)(ii) / 8D(2)(iii) could only be with reference to the investment on which dividend income had been earned and this was also the view of Hon'ble Calcutta Tribunal referred above. Overall, in the facts and circumstances of the case, I find that the Ld AO ought to restrict

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

In the result, the appeal of the revenue for A

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 Acit Cir 34..............................………………………...........................................................Appellant Aayakar Bhawan, Poorva, 7Th Floor, 110, Shantipally, Kolkata – 107. M/S. Banwarilall Pasari………………………………………………...............................Respondent 16, India Exchange Place, Kolkata – 1. [Pan: Aacfb 7611 A] Appearances By: Shri Arindam Bhattacharjee, Addl. Cit Appearing On Behalf Of The Revenue. Shri S. Jhajharia, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : February 15, 2018 Date Of Pronouncing The Order : March 14, 2018 Order

108 has again held that disallowance under Rule 8D(2)(ii) / 8D(2)(iii) could only be with reference to the investment on which dividend income had been earned and this was also the view of Hon'ble Calcutta Tribunal referred above. Overall, in the facts and circumstances of the case, I find that the Ld AO ought to restrict

DCIT, CIR-2(2), KOLKATA, KOLKATA vs. M/S WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

DCIT, CIR-2(2), KOLKATA, KOLKATA vs. M/S WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. TATA STEEL PROCESSING & DISTRIBUTION LIMITED, KOLKATA

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 14A (1) and 14A(2) read with rule 8D. Reliance in this regard is placed on the decision of Hon'ble Kolkata Tribunal in the Company's own case for Y 2002-03 [kindly refer pages 127-133 of the paper book]. In this case, the AO had disallowed proportionate interest expenditure. The company contended that although

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. TATA RYERSON LIMITED, KOLKATA

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 14A (1) and 14A(2) read with rule 8D. Reliance in this regard is placed on the decision of Hon'ble Kolkata Tribunal in the Company's own case for Y 2002-03 [kindly refer pages 127-133 of the paper book]. In this case, the AO had disallowed proportionate interest expenditure. The company contended that although

TATA STEEL PROCESSING AND DISTRIBUTION LTD.,KOLKATA vs. DCIT, CIRCLE - 8, KOLKATA, KOLKATA

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 14A (1) and 14A(2) read with rule 8D. Reliance in this regard is placed on the decision of Hon'ble Kolkata Tribunal in the Company's own case for Y 2002-03 [kindly refer pages 127-133 of the paper book]. In this case, the AO had disallowed proportionate interest expenditure. The company contended that although