INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 11(4), 11(4A), 13(8) and Circular No. 11 of 2008, alleged that the meetings, conferences and seminars held by the assessee were in the nature of business and the assessee has rendered services in relation to trade, commerce and business for a cess, fee or any other consideration and thus has earned profit from these activities

ST JOSEPH'S CONVENT CHANDANNAGAR EDUCATINAL SOCITY.,KOLKATA vs. J.C.I.T. (OSD), CIR- 2,HOOGHLY, HOOGHLY

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am]

disallowing the donation paid of Rs. 18,30,000/- to another trust. Aggrieved, the assessee is in appeal before us on the following grounds :- “1. For that in the facts and circumstances of the case the appellate order passed was in violation of principals of natural justice hence is bad in law and be quashed. 02. For that

M/S. KESORAM INDUSTRIES LTD., ,KOLKATA vs. DCIT, CIRCLE - 5(1) , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

13,86,883/- given by the assessee to its customers post the completion of sales. Aggrieved by this action of the AO, the assessee preferred appeal before the Ld. CIT(A) who deleted the impugned disallowance. M/s. Kesoram Industries Ltd., AYs 2012-13, 2014-15 &2015-16 8. Being aggrieved by the Ld. CIT(A)’s order, the Revenue

KESORAM INDUSTRIES LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-5(1), KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

13,86,883/- given by the assessee to its customers post the completion of sales. Aggrieved by this action of the AO, the assessee preferred appeal before the Ld. CIT(A) who deleted the impugned disallowance. M/s. Kesoram Industries Ltd., AYs 2012-13, 2014-15 &2015-16 8. Being aggrieved by the Ld. CIT(A)’s order, the Revenue

DCIT, CIRCLE - 5(1) , KOLKATA vs. M/S. KESORAM INDUSTRIES LTD., , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

13,86,883/- given by the assessee to its customers post the completion of sales. Aggrieved by this action of the AO, the assessee preferred appeal before the Ld. CIT(A) who deleted the impugned disallowance. M/s. Kesoram Industries Ltd., AYs 2012-13, 2014-15 &2015-16 8. Being aggrieved by the Ld. CIT(A)’s order, the Revenue

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

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

13,86,883/- given by the assessee to its customers post the completion of sales. Aggrieved by this action of the AO, the assessee preferred appeal before the Ld. CIT(A) who deleted the impugned disallowance. M/s. Kesoram Industries Ltd., AYs 2012-13, 2014-15 &2015-16 8. Being aggrieved by the Ld. CIT(A)’s order, the Revenue

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

13,49,463 as per the calculation made above. Disallowance under section 14,A read with rule BD cannot exceed the amount of exempt income: ITA No.170/Kol/2018 A.Y. 2010-11 DCIT, Cir-6(1), Kol. Vs. M/s Integrated Coal Mining Ltd. Page 11 1. Without prejudice to the above, it is submitted tha the disallowance under section 14A read with

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)

8. The Revenue’s next contention is that the CIT(A) have erred in law and on facts in directing the Assessing Officer to restrict u/s 14A r.w.r 8D disallowance of Rs.16.85 lakhs (supra) for the purpose of MAT computation nly u/s 115JB of the Act. We have already decided the very issue in the taxpayers’ favour in the foregoing

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)

8. The Revenue’s next contention is that the CIT(A) have erred in law and on facts in directing the Assessing Officer to restrict u/s 14A r.w.r 8D disallowance of Rs.16.85 lakhs (supra) for the purpose of MAT computation nly u/s 115JB of the Act. We have already decided the very issue in the taxpayers’ favour in the foregoing

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)

8. The Revenue’s next contention is that the CIT(A) have erred in law and on facts in directing the Assessing Officer to restrict u/s 14A r.w.r 8D disallowance of Rs.16.85 lakhs (supra) for the purpose of MAT computation nly u/s 115JB of the Act. We have already decided the very issue in the taxpayers’ favour in the foregoing

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)

8. The Revenue’s next contention is that the CIT(A) have erred in law and on facts in directing the Assessing Officer to restrict u/s 14A r.w.r 8D disallowance of Rs.16.85 lakhs (supra) for the purpose of MAT computation nly u/s 115JB of the Act. We have already decided the very issue in the taxpayers’ favour in the foregoing

PANCHI BIBI WAKF ESTATE,KOLKATA vs. DDIT (E)-II, KOLKATA, KOLKATA

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

13(3) of the Act without considering that the mutwallis were authorized under the mandatory rule framed by the Hon'ble High Court at Calcutta in respect of the assessee Wakf which was created much prior to the commencement of this Act, to enjoy rent free accommodation and as such no addition on account of deemed income should have been

HINDUSTAN MOTORS LIMITED,KOLKATA vs. DCIT, CIRCLE - 6, KOLKATA, KOLKATA

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

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

8 of 10 interest bearing borrowed funds were not utilized for making such investment. 11. It is also observed that in the computation of total income, disallowance of Rs.2,47,79,104/- was offered by the assessee under section 14A in relation to the expenditure incurred in relation to earning of exempt income and there was no reason given

ALLAHABAD BANK,KOLKATA vs. ADD.CIT,RANGE-6, KOLKATA, KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

8. Ground Nos. 3 and 4 raised by the assessee reads as follows :- “3. That, on facts as well as on law, the Learned Commissioner of Income tax (Appeal) - VI, Kol has erred in confirming the application of provision of Rule 8D read with Section 14A(1 )&(2) of the Income tax Act, 1961 without bringing on record any cogent

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]

8. We also rely on the decision of the Hon’ble Bombay High Court in the case of CIT vs HDFC held as under: “Keeping the aforesaid position of law in mind, we shall now examine the impugned order of the Tribunal. The issue before the Tribunal as raised by the petitioner was that Section 14A of the act would

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]

8. We also rely on the decision of the Hon’ble Bombay High Court in the case of CIT vs HDFC held as under: “Keeping the aforesaid position of law in mind, we shall now examine the impugned order of the Tribunal. The issue before the Tribunal as raised by the petitioner was that Section 14A of the act would

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]

8. We also rely on the decision of the Hon’ble Bombay High Court in the case of CIT vs HDFC held as under: “Keeping the aforesaid position of law in mind, we shall now examine the impugned order of the Tribunal. The issue before the Tribunal as raised by the petitioner was that Section 14A of the act would

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]

8. We also rely on the decision of the Hon’ble Bombay High Court in the case of CIT vs HDFC held as under: “Keeping the aforesaid position of law in mind, we shall now examine the impugned order of the Tribunal. The issue before the Tribunal as raised by the petitioner was that Section 14A of the act would