DCIT, CIRCLE - 10(2), KOLKATA, KOLKATA vs. M/S. YAMAI FASHION PVT. LTD., KOLKATA

Appeals are dismissed as involving lower than the prescribed tax effect of ₹20 lac therefore

Bench: Shri S.S.Godara & Shri M. Balaganesh

4) of Section 10B; interest subsidy qualified for claiming pro-rata deduction. However, since the export turnover and total turnover of the assessee's EOU was one and the same; the interest subsidy was eligible for 100% deduction u/s 10B of the I. T. Act The AO is accordingly directed to allow the deduction permissible u/s 10B with regard

DCIT, CIRCLE - 10(2), KOLKATA, KOLKATA vs. M/S. YAMAI FASHION PVT. LTD., KOLKATA

Appeals are dismissed as involving lower than the prescribed tax effect of ₹20 lac therefore

Bench: Shri S.S.Godara & Shri M. Balaganesh

4) of Section 10B; interest subsidy qualified for claiming pro-rata deduction. However, since the export turnover and total turnover of the assessee's EOU was one and the same; the interest subsidy was eligible for 100% deduction u/s 10B of the I. T. Act The AO is accordingly directed to allow the deduction permissible u/s 10B with regard

DCIT, CIRCLE-3, KOLKATA, DARJEELING vs. NARENDRA TEA COMPANY (P) LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Sections 10A and 10B have been substituted by new provisions. This is made clear in para 5.2 of Explanatory Note on Finance Act, 2000.” 7. According to Ld. Counsel, when he went through the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Tara Agencies (2007) 292 ITR 444 (SC) he could not find the passage

M/S TEA PROMOTERS (INDIA) PVT. LTD.,KOLKATA vs. ACIT, CIRCLE-4, KOLKATA, KOLKATA

Appeal is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2002-03

4) of section 10A/10B of the Act is a complete code providing mechanism for computing the “profit of the business” eligible for deduction u/s. 10B of the Act. The Ld. DR could not point out any difference in the law or facts so we are inclined to uphold the order of the Ld. CIT(A) on the reasoning given

DCIT, CIRCLE-12(1), KOLKATA, KOLKATA vs. M/S HINDUSTHAN GUM & CHEMICALS LTD., KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1410/Kol/2016 Assessment Year : 2010-11 Hindustan Gum & Chemicals Ltd. -Vs- Dcit, Circle-12(1), Kolkata [Pan: Aaach 7214 E] (Appellant) (Respondent) I.T.A No. 1601 /Kol/2016 Assessment Year : 2010-11 Dcit, Circle-12(1), Kolkata -Vs- Hindustan Gum & Chemicals Ltd. [Pan: Aaach 7214 E] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Advocate Shri Vinod Sharma, Ca For The Respondent : Shri Sallong Yaden, Addl. Cit

Disallowance of other income while computing the deduction u/s 10B of the Act. Ground nos. 1 and 2 of revenue appeal The brief facts of this issue is that the assessee is having a 100% EOU at Viramgram. The assessee company claimed deduction u/s 10B of the Act to the tune

HINDUSTAN GUM & CHEMICALS LTD.,KOLKATA vs. THE DCIT, CIR-12(1), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1410/Kol/2016 Assessment Year : 2010-11 Hindustan Gum & Chemicals Ltd. -Vs- Dcit, Circle-12(1), Kolkata [Pan: Aaach 7214 E] (Appellant) (Respondent) I.T.A No. 1601 /Kol/2016 Assessment Year : 2010-11 Dcit, Circle-12(1), Kolkata -Vs- Hindustan Gum & Chemicals Ltd. [Pan: Aaach 7214 E] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Advocate Shri Vinod Sharma, Ca For The Respondent : Shri Sallong Yaden, Addl. Cit

Disallowance of other income while computing the deduction u/s 10B of the Act. Ground nos. 1 and 2 of revenue appeal The brief facts of this issue is that the assessee is having a 100% EOU at Viramgram. The assessee company claimed deduction u/s 10B of the Act to the tune

HINDUSTAN GUM & CHEMICALS LTD.,KOLKATA vs. THE DCIT, CIR-12, KOLKATA, KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

4. The only issue to be decided in this cross objection of the assessee is as to whether the ld CITA was justified in disallowing the expenditure of Rs. 2,45,835/- by invoking Explanation to Section 37(1) of the Act in the facts and circumstances of the case. Hindustan Gum & Chemicals Ltd., AY 2008-09 4.1. The brief

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S HINDUSTAN GUMS & CHEMICAL LTD., KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

4. The only issue to be decided in this cross objection of the assessee is as to whether the ld CITA was justified in disallowing the expenditure of Rs. 2,45,835/- by invoking Explanation to Section 37(1) of the Act in the facts and circumstances of the case. Hindustan Gum & Chemicals Ltd., AY 2008-09 4.1. The brief

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

4) Where an arm’s length price is determined by the Assessing Officer under sub-section (3), the Assessing Officer may compute the total income of the assessee having regard to the arm’s length price so determined: Provided that no deduction under section 10A or section 10AA or section 10B or under Chapter VI-A shall be allowed

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

4) Where an arm’s length price is determined by the Assessing Officer under sub-section (3), the Assessing Officer may compute the total income of the assessee having regard to the arm’s length price so determined: Provided that no deduction under section 10A or section 10AA or section 10B or under Chapter VI-A shall be allowed

M/S. ZENITH EXPORTS LIMITED,KOLKATA vs. ACIT, CIRCLE-5, KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap

disallowed the claim of the assessee for exemption under section 10B in respect of certain receipts aggregating to Rs.18,75,145/- on the ground that the exemption under section 10B was allowed only in respect of receipts, which are directly linked to the export. On appeal, the ld. CIT(Appeals) upheld the action of the Assessing Officer on this issue

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George Mathan & Shri Rakesh Mishra

Disallowance of deduction claimed under section 80-IA of the Act 5.1 That on the facts and in the circumstances of the case and in law, The Ld. AO and Hon'ble DRP erred in not granting the deduction claimed by the Assessee under section 80-IA of the Act amounting to Rs. 4,88,57,264 on the contention

M/S TEA PROMOTERS (INDIA) PVT. LTD.,KOLKATA vs. DCIT, CIRCLE - 4, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

4 years if the assessee fails to disclose fully and truly all material facts necessary for the assessment. However on perusal of the records we find that the AO during the course of assessment proceedings has examined the details of the deduction under section 10B of the Act. On perusal of the reasons recorded by the AO before issuing notice

A.C.I.T CIR - 36,KOLKATA., KOLKATA vs. M/S SRI RAM COMMERCIAL CO, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

4 years if the assessee fails to disclose fully and truly all material facts necessary for the assessment. However on perusal of the records we find that the AO during the course of assessment proceedings has examined the details of the deduction under section 10B of the Act. On perusal of the reasons recorded by the AO before issuing notice

M/S TEA PROMOTERS (INDIA) PVT LTD,KOLKATA vs. D.C.I.T RG - 4,KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

4 years if the assessee fails to disclose fully and truly all material facts necessary for the assessment. However on perusal of the records we find that the AO during the course of assessment proceedings has examined the details of the deduction under section 10B of the Act. On perusal of the reasons recorded by the AO before issuing notice

INCOME TAX OFFICER WARD-4(4), KOLKATA vs. M/S TEA PROPOTERS (INDIA) PVT. LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

4 years if the assessee fails to disclose fully and truly all material facts necessary for the assessment. However on perusal of the records we find that the AO during the course of assessment proceedings has examined the details of the deduction under section 10B of the Act. On perusal of the reasons recorded by the AO before issuing notice

DCIT CIR-8, KOLKATA, KOLKATA vs. M/S NATURAL PRODUCTS EXPORT CORPN. LTD., KOLKATA

In the result, appeal filed by Revenue is dismissed

Bench: Shrimahavir Singhand Shriwaseem Ahmedassessment Year :2009-10

section 10B of the Act. The reason for the disallowance of the claim was that ITA No.1512/Kol/2012 A.Y. 2009-10 DCIT Cir-8, Kol. v. M/s Natural Products Export Corpn, Ltd. Page 4

ACIT, CIR-33, KOLKATA, KOLKATA vs. M/S SIMPLEX MEINHARDT JOINT VENTURE, KOLKATA

In the result, both the above appeals of revenue in ITA Nos

Bench: Shri S.S. Viswanethra Ravi & Shri Dr. Arjun Lal Saini

10B, Middleton Row 3rd floor Kolkata-700071. -Vs- M/s. Simplex Meinhardt Joint Venture.............................. Respondent PAN: AADAS 0500M Simplex House 27 Shakespeare Sarani Kolkata-700017. Appearances by: Shri Prabal Choudhury, JCIT, ld. Sr. DR for the revenue Shri Ravi Tulsiyan, FCA, ld.AR for the assessee Date of hearing: 14-03-2017 Date of pronouncement: 21-04-2017 Shri S.S. Viswanethra Ravi

ACIT, CIR-33, KOLKATA, KOLKATA vs. M/S SIMPLEX SOMDATT BUILDERS JV, KOLKATA

In the result, the appeal filed by the revenue is dismissed

Bench: Shri S.S. Viswanethra Ravi & Shri Dr. Arjun Lal Saini

10B, Middleton Row 3rd floor Kolkata-700071. -Vs- M/s. Simplex Somdatt Builders................................. Respondent PAN: AACAS 4701M Simplex House 27 Shakespeare Sarani Kolkata-700017. Appearances by: Shri Prabal Choudhury, JCIT, ld. Sr. DR for the revenue Shri Ravi Tulsiyan, FCA, ld.AR for the assessee Date of hearing: 14-03-2017 Date of pronouncement: 21-04-2017 Shri S.S. Viswanethra Ravi