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

disallowance and giving valid reasons for such computation. The crux of argument of AR is with reference to Section 14

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

14 A, that the Assessing Officer shall examine whether" any expenditure (direct or indirect)" [ Emphasis by underlining supplied by us] in relation to exempt income is incurred and that disallow the same. As a corollary to the above legal position, so far as disallowance under section

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

14 to 38 (relevant page 20 of the Paper book). In its return of income for the year under consideration besides claiming the aforesaid dividend income as exempt from tax, the respondent also considered the said amount as disallowable under section

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

disallowance made by the Assessing Officer and confirmed by the ld. CIT(Appeals) on account of interest under section 14A while deciding Ground No. 1 involved in this appeal of the assessee. Consequently this ground is treated as allowed. 13. As regards the issue involved in Ground No. 3 relating to the assessee’s claim for allowing MAT credit against

ACIT, CIRCLE-3, KOLKATA, KOLKATA vs. M/S TATA METALICS LTD., KOLKATA

In the result, all the four appeals of the Revenue are dismissed, while all the four appeals of the assessee are treated as partly allowed as indicated above

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

disallowance under section 14A is similar to the one involved in Ground No.2 of Assessee’s appeal I.T.A. Nos. 956 & 737/KOL./2012 Assessment years 2005-2006 & I.T.A. Nos. 957 & 738/KOL/2012 Assessment Year : 2006-2007 & I.T.A. Nos. 958 & 739/KOL/2012 Assessment Year : 2007-2008 & I.T.A. Nos. 959 & 740/KOL/2012 Assessment Year : 2008-2009 Page 14

TEGA INDUSTRIES LTD.,KOLKATA vs. DCIT, CIRCLE - 12(2), KOLKATA, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Borad

14 (XL-35) dated 11.4.1955. GROUND NO. 2: DISALLOWANCE UNDER SECTION 14A READ WITH RULE 8D 2.1. On the facts

ACIT, CIRCLE - 5(2), KOLKATA , KOLKATA vs. M/S. HINDUSTHAN NATIONAL GLASS & INDUSTRIES LTD., , KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Justice P.P. Bhatt & Shri P.M. Jagtap, Vice-

14, 2020 O R D E R Per Bench:- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-18, Kolkata dated 18.01.2019, whereby he restricted the disallowance of Rs.10,72,47,695/- made by the Assessing Officer under section

UNITED BANK OF INDIA,KOLKATA vs. ACIT, LTU - 1, KOLKATA, KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं/I.T.A No.75/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13) United Bank Of India Vs. Acit, Ltu-1, Kolkata. 16, Old Court House Street, Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacu5624P (Appellant) .. (Respondent) Appellant By : Shri Soumitra Choudhury, Advocate Respondent By : Shri Vijay Shankar, Cit सुनवाई क" तार"ख/ Date Of Hearing : 24/02/2020 घोषणा क" तार"ख/Date Of Pronouncement : 28/02/2020 आदेश / O R D E R Per Shri S. S. Godara: This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax - 23, Kolkata’S Order Dated 08.06.2017 Passed In Case No.06/Cit(A)-23/L.T.U-1/16-17 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Shri Soumitra Choudhury, Learned Authorized Representative For Assessee & Shri Vijay Shankar, Cit-Dr Appearing At The Revenue’S Behest. 2. The Assessee’S First Substantive Grievance Challenges Correctness Of Both The Lower Authorities’ Action Disallowing Club Entrance Fees Of Rs.97,794/- In The Course Of Assessment Affirmed In The Lower In The Lower Appellate Proceedings. The Assessee Herein Is Admittedly A Bank Which Claimed The Impugned Expenditure As An Allowable Deduction Under Revenue Head. The Assessing Officer’S Assessment Order Dated 25.02.2015 Held The Same To Be Capital Expenditure Than Revenue In Nature. The Cit(A) Has Confirmed The Impugned Disallowance.

14. We have given our thoughtful consideration to the rival submissions in support of and against the CIT(A)’s action deleting impugned section 35D amortisation disallowance

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

14. We have considered the rival submissions and also perused the relevant material available on record. The issue that arises for our consideration in the present context is whether the provisions of section 14A can be invoked to make a disallowance

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

section 37(1) of the Income Tax Act, though claimed by the assessee company in the return of income. Further, the liability has been raised out of fine or penalty imposed by the forest department, and the provision out of the liability is also not allowable u/s. 37(1) of the Income Tax Act. In the present case, the assessee

M/S RECKITT BENCKISER (I) LTD.,KOLKATA vs. JCIT, R-12, KOLKATA, KOLKATA

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

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

disallowance of Rs.1,35,14,449/- made by the Assessing Officer and confirmed by the ld. CIT(Appeals) under section

DCIT, CC-1(3), KOLKATA vs. M/S RUNGTA MINES LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri J. Sudhakar Reddy, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./I.T.A No.2199/Kol/2019 ("नधा"रणवष" / Assessment Year: 2015-16) Acit, Cc-1(3), Kolkata Vs. M/S Rungta Mines Pvt. Ltd. 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr6463N (Appellant) .. (Respondent)

disallowance under Rule 8D of the Income Tax Rules, 1962 read with Section 14A of the Act. Both the Commissioner and the Appellate Tribunal found as a matter of fact that there was no exempt income for the operation of the relevant Rule. In the light of such concurrent findings and, in particular, the Department failing to demonstrate any error

M/S GHOSH & CHAKRABORTY TRANSPORT,BURDWAN vs. THE ITO, WD-2(1), ASANSOL, ASANSOL

In the result, the appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri P.M. Jagtap

disallowance made by the Assessing Officer under section 40(a)(ia) for the following reasons given in paragraph no. 14

RAJ KUMAR GOENKA,KOLKATA vs. DCIT, CIRCLE 11(1),, KOLKATA

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowance under Section 14-A cannot be made. The High Court herein endorsed the proportionate disallowance made by the assessing

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

disallowed\nunder Rule 8D of the IT Rules and the disallowance has been made only\nunder clause (iii) of Rule 8D as per the formulae mentioned therein and\nthe same is not to be considered for the purpose of MAT and the\naddition, if any, made to the book profit on account of disallowance u/s\nPage 43\nITA

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

Section 14A, read with Rule 8D, specifically considering investments in preference shares of M/s Lux Industries Ltd., from which the appellant had earned an exempt dividend of Rs. 3,75,000. Given that the appellant had already disallowed Rs. 5,350, the AO added the remaining Rs. 14

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