EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

144C(5) to indicate that the case of the assessee was selected for limited scrutiny. On the other hand, the fact that the additions were made by the Assessing 6 A.Y. 2012-2013 Eveready Industries India Limited Officer in the said assessment on account of T.P. adjustment, disallowance under section 40(a)(ia) and disallowance under section 40A(9) clearly

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)

144C of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused. 2. It transpires during the course of hearing that almost all the issues raised in the instant cross-appeals filed at the both taxpayer’s and Revenue’s behest are identical and inter-connected. The assessee’s sole grievance in both

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)

144C of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused. 2. It transpires during the course of hearing that almost all the issues raised in the instant cross-appeals filed at the both taxpayer’s and Revenue’s behest are identical and inter-connected. The assessee’s sole grievance in both

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)

144C of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused. 2. It transpires during the course of hearing that almost all the issues raised in the instant cross-appeals filed at the both taxpayer’s and Revenue’s behest are identical and inter-connected. The assessee’s sole grievance in both

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)

144C of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused. 2. It transpires during the course of hearing that almost all the issues raised in the instant cross-appeals filed at the both taxpayer’s and Revenue’s behest are identical and inter-connected. The assessee’s sole grievance in both

STAR PAPER MILLS LIMITED,KOLKATA vs. DCIT, CIR. 4(2), KOLKATA

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

Bench: Shri P. M .Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

144C of the Act dated 30.11.2019. Aggrieved by the said draft order, the assessee preferred an appeal before the Ld. DRP which dismissed by their order dated 27.02.2020. Being aggrieved by the same, the assessee is now in appeal before us. 8. In the course of hearing, the Ld. AR Shri Akkal Dudhewala FCA, appearing on behalf of the assessee

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

144C(5) of the Income Tax Act, 1961. 2. The assessee has raised the following grounds of appeal: “1.1 That on the facts and circumstances of the case, the Ld. TPO/ Ld. DRP have erred by computing a charge payable by Tega Holdings Pte Limited, Singapore (Tega Singapore) for corporate guarantee received from the Appellant on loans taken from Axis

M/S. TCG LIFESCIENCES PRIVATE LIMITED.,KOLKATA vs. ACIT, CIRCLE-11(2), KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

144C(S) of the Income-Tax Act, 1961 (‘the Act') read with the order passed by the Ld. Transfer Pricing Officer ("TPO") under section 92CA(3) of the Act and the directions issued by the Hon'ble Dispute Resolution Panel CDRP') is bad in law and void ab-initio. 3 A.Y. 2013-2014 M/s. TCG Lifesciences Pvt. Limited 1.2. That

PRIMETALS TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE-1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

144C(5) of the Act and the Directions of the Hon’ble Dispute Resolution Panel (hereinafter referred to as ‘Hon’ble DRP’) dated February 18, 2022 for the said assessment year 2017-18 are contrary to the provisions of law and erroneous on the facts of the case and are liable to be set aside and/or quashed. Ground 2: That

PRIMETALS TECHNOLOGIES INDIA PVT. LTD.,KOLKATA vs. ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

144C(5) of the Act and the Directions of the Hon’ble Dispute Resolution Panel (hereinafter referred to as ‘Hon’ble DRP’) dated February 18, 2022 for the said assessment year 2017-18 are contrary to the provisions of law and erroneous on the facts of the case and are liable to be set aside and/or quashed. Ground 2: That

MECLEOD RUSSEL INDIA LTD.,KOLKATA vs. A.C.I.T., CIRCLE - 4(1), KOLKATA, KOLKATA

The appeals of the assessee are partly allowed

Bench: the due date of filing of return u/s 139(1) of the Act.

144C(13), r.w.s. 144B of the Income Tax Act, 1961 (hereafter “the Act”), after the Ld. Dispute Mecleod Russel India Ltd. Resolution Panel (hereafter “the Ld. DRP”) orders dated 24.06.2022 in both the cases. The assessee is aggrieved with the impugned orders and has raised the following grounds of appeal as under: “1. The Learned Dispute Resolution Panel (DRP) erred

MCLEOD RUSSEL INDIA LIMITED,KOLKATA vs. A.C.I.T., CIRCLE-4(1), KOLKATA, KOLKATA

The appeals of the assessee are partly allowed

Bench: the due date of filing of return under Section 139(1) of the Act.

144C(13), r.w.s. 144B of the Income Tax Act, 1961 (hereafter “the Act”), after the Ld. Dispute Mecleod Russel India Ltd. Resolution Panel (hereafter “the Ld. DRP”) orders dated 24.06.2022 in both the cases. The assessee is aggrieved with the impugned orders and has raised the following grounds of appeal as under: “1. The Learned Dispute Resolution Panel (DRP) erred

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

section 115JB of the Act to ₹4,19,505/-.\n18.1 This issue has been decided in ITA No. 1246/KOL/2019 for AY\n2012-13 in the preceding para no. 11.5 of the order. In view of the\nfinding for AY 2012-13, Ground No. 3 of the appeal is allowed.\n19. Ground Nos. 4, 5 and 6 relate

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

section 115JB of the Act to ₹4,19,505/-.\n18.1 This issue has been decided in ITA No. 1246/KOL/2019 for AY\n2012-13 in the preceding para no. 11.5 of the order. In view of the\nfinding for AY 2012-13, Ground No. 3 of the appeal is allowed.\n19. Ground Nos. 4, 5 and 6 relate

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

section 115JB of the Act to ₹4,19,505/-.\n18.1 This issue has been decided in ITA No. 1246/KOL/2019 for AY\n2012-13 in the preceding para no. 11.5 of the order. In view of the\nfinding for AY 2012-13, Ground No. 3 of the appeal is allowed.\n19. Ground Nos. 4, 5 and 6 relate

D.C.I.T., CC - 4(4), KOLKATA, KOLKATA vs. ELECTROSTEEL CASTING LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav, Vice- & Shri Girish Agrawalassessment Years: 2016-17 Deputy Commissioner Of M/S. Electrosteel Casting Ltd. Income-Tax, Central G.K. Tower Vs. Circle-4(4), Kolkata. 19, Camac Street Kolkata -700017 (Pan: Aaace4975B) (Appellant) (Respondent)

144C(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by ACIT, Central Circle – 4(4), Kolkata, dated 28/02/2020. 2. Shri G. Hukugha Sema, CIT, appeared for the revenue and Sri Ravi Tulsiyan, Advocate, A/R, appeared for the assessee. 3. Revenue has taken as many as ten grounds of appeal. From the perusal of grounds

ACIT, CEN, CIR-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEL CASTINGS LTD., KOLKATA

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

Bench: Shri Rajpal Yadav, Vice- & Shri Girish Agrawalita Nos.2303 & 2304/Kol/2019 Assessment Years: 2014-15 & 2015-16 Assistant Commissioner M/S. Electrosteel Casting Ltd. Vs. Of Income-Tax, Central (Pan: Aaace4975B) Circle-4(4), Kolkata. (Appellant) (Respondent) & C.O. Nos. 24 & 25/Kol/2020 In Ita Nos.2303 & 2304/Kol/2019 Assessment Years: 2014-15 & 2015-16 M/S. Electrosteel Casting Assistant Commissioner Of Vs. Ltd. Income-Tax, Central Circle- 4(4), Kolkata. (Cross Objector) (Respondent) Present For: Department By - Shri Deba Kumar Sonowal & Shri Tushar Dhawal Singh, Cit Assessee By - Shri S. K. Tulsiyan, Advocate & Ms. Puja Somani, Ca Date Of Hearing : 17.03.2022 Date Of Pronouncement : 17.05.2022 O R D E R Per Girish Agrawal: Both These Appeals By The Revenue & The Cross Objection By The Assessee Are Directed Against The Separate Orders Passed By The Ld. Cit(A)-22 Kolkata Vide Appeal No. 46/Cit(A)-22/2014-15/17-18/Kol & 133/Cit(A)-22/2015-16/18-19/Kol Dated 31.07.2019 For A.Ys. 2014-15 & 2015-16 Against The Separate Assessment Orders Passed U/S 143(3) R.W.S. 144C Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Passed By Dcit, Central Circle – 4(4), Kolkata, Dated 29.01.2018 & Acit, Central Circle-4(4), Kolkata Dated 29.12.2018 Respectively. C.O. Nos. 24 & 25/Kol/2020 Electrosteel Casting Ltd. Ays 2014-15 & 2015-16 2. Shri Deba Kumar Sonowal & Tushar Dhawal Singh, Cit Appeared For The Revenue & Sri S. K. Tulsiyan, Advocate & Ms. Puja Somani, Ca Appeared For The Assessee.

144C of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by DCIT, Central Circle – 4(4), Kolkata, dated 29.01.2018 and ACIT, Central Circle-4(4), Kolkata dated 29.12.2018 respectively. C.O. Nos. 24 & 25/Kol/2020 Electrosteel Casting Ltd. AYs 2014-15 & 2015-16 2. Shri Deba Kumar Sonowal and Tushar Dhawal Singh, CIT appeared for the revenue

ACIT, CEN.CIR.-4(4), KOLKATA , KOLKATA vs. M/S ELECTRSTEEL CASTINGS LTD., KOLKATA

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

Bench: Shri Rajpal Yadav, Vice- & Shri Girish Agrawalita Nos.2303 & 2304/Kol/2019 Assessment Years: 2014-15 & 2015-16 Assistant Commissioner M/S. Electrosteel Casting Ltd. Vs. Of Income-Tax, Central (Pan: Aaace4975B) Circle-4(4), Kolkata. (Appellant) (Respondent) & C.O. Nos. 24 & 25/Kol/2020 In Ita Nos.2303 & 2304/Kol/2019 Assessment Years: 2014-15 & 2015-16 M/S. Electrosteel Casting Assistant Commissioner Of Vs. Ltd. Income-Tax, Central Circle- 4(4), Kolkata. (Cross Objector) (Respondent) Present For: Department By - Shri Deba Kumar Sonowal & Shri Tushar Dhawal Singh, Cit Assessee By - Shri S. K. Tulsiyan, Advocate & Ms. Puja Somani, Ca Date Of Hearing : 17.03.2022 Date Of Pronouncement : 17.05.2022 O R D E R Per Girish Agrawal: Both These Appeals By The Revenue & The Cross Objection By The Assessee Are Directed Against The Separate Orders Passed By The Ld. Cit(A)-22 Kolkata Vide Appeal No. 46/Cit(A)-22/2014-15/17-18/Kol & 133/Cit(A)-22/2015-16/18-19/Kol Dated 31.07.2019 For A.Ys. 2014-15 & 2015-16 Against The Separate Assessment Orders Passed U/S 143(3) R.W.S. 144C Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Passed By Dcit, Central Circle – 4(4), Kolkata, Dated 29.01.2018 & Acit, Central Circle-4(4), Kolkata Dated 29.12.2018 Respectively. C.O. Nos. 24 & 25/Kol/2020 Electrosteel Casting Ltd. Ays 2014-15 & 2015-16 2. Shri Deba Kumar Sonowal & Tushar Dhawal Singh, Cit Appeared For The Revenue & Sri S. K. Tulsiyan, Advocate & Ms. Puja Somani, Ca Appeared For The Assessee.

144C of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by DCIT, Central Circle – 4(4), Kolkata, dated 29.01.2018 and ACIT, Central Circle-4(4), Kolkata dated 29.12.2018 respectively. C.O. Nos. 24 & 25/Kol/2020 Electrosteel Casting Ltd. AYs 2014-15 & 2015-16 2. Shri Deba Kumar Sonowal and Tushar Dhawal Singh, CIT appeared for the revenue