APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 14A of the Act confirmed by the ld. CIT(A). We notice that the impugned disallowance consists of two amounts, one is the interest disallowance under Rule 8D(2)(ii) and other is expenditure disallowance under Rule 8D(2)(iii) r.w.s. 14A of the Act. So far as the interest disallowance is concerned, the ld. Counsel for the assessee

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 14A of the Act confirmed by the ld. CIT(A). We notice that the impugned disallowance consists of two amounts, one is the interest disallowance under Rule 8D(2)(ii) and other is expenditure disallowance under Rule 8D(2)(iii) r.w.s. 14A of the Act. So far as the interest disallowance is concerned, the ld. Counsel for the assessee

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 14A of the Act confirmed by the ld. CIT(A). We notice that the impugned disallowance consists of two amounts, one is the interest disallowance under Rule 8D(2)(ii) and other is expenditure disallowance under Rule 8D(2)(iii) r.w.s. 14A of the Act. So far as the interest disallowance is concerned, the ld. Counsel for the assessee

THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

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

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

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

disallowing exemption u/s 11 of the Act ,the AO observed that the assessee has received sponsorship fees from the sponsors for the purpose of holding meetings, conferences and seminars and in exchange they were allowed to display their banners and promote their business and brand names on its platforms and also for taking part in the deliberation of the said

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]

disallowing exemption u/s 11 of the Act ,the AO observed that the assessee has received sponsorship fees from the sponsors for the purpose of holding meetings, conferences and seminars and in exchange they were allowed to display their banners and promote their business and brand names on its platforms and also for taking part in the deliberation of the said

M/S JMS MINING PVT. LTD,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

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

disallowed and added back in terms of Explanation 2 to Section 37(1) of the Act. Situation 2 : The company

ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

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

disallowances. 4. The ld AR filed additional ground of appeal before us as below:- “That the notice issued under section 143(2) of the Act dated 18 November 2004 is of no consequence for the matter under consideration and no notice at all was issued under section 143(2) of the Act after filing the return of income in response

ACIT, CIRCLE-10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

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

disallowances. 4. The ld AR filed additional ground of appeal before us as below:- “That the notice issued under section 143(2) of the Act dated 18 November 2004 is of no consequence for the matter under consideration and no notice at all was issued under section 143(2) of the Act after filing the return of income in response

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

37,490/- under Rule 8D(2)(iii) is concerned, we find that before the lower authorities the assessee had raised the plea that no disallowance u/s 14A was warranted since the assessee was 7 M/s UCO Bank a dealer in shares although in its Balance Sheet, shares were disclosed under the head "Investments". We find that the Hon'ble Supreme

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

section 14A of the I.T Act, 1961.” 2. Hon’ble President, ITAT nominated Shri G.D Agarwa, Hon’ble Vice President (AZ)KZ) as Third Member. The Hon’ble Third Member vide his order dated 27.05.2011 has concurred with the findings of ld. Accountant Member by observing as under:- “7. I have considered the submissions of both the parties and perused

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

37,4901- under Rule 80(2)(iii) is concerned, we find that before the lower authorities the assessee had raised the plea that no disallowance u/s 14A was warranted since the assessee was a dealer in shares although in its Balance Sheet, shares were disclosed under the head "Investments". We find that the Hon'ble Supreme Court in its recent

A.C.I.T.,CIRCLE-1, LTU, KOLKATA vs. M/S HINDUSTAN COPPER LIMITED , KOLKATA

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

Bench: Shri P.M. Jagtap, Hon’Ble Vice-, Kz & Shri Partha Sarathi Chaudhury, Hon'Ble) Assessment Year: 2012-13 Hindustan Copper Ltd…………………………………………………………………………………………….………….…Appellant Tamra Bhavan 1, Ashutosh Choudhury Avenue Kolkata - 700 019 [Pan: Aaach 7409 R] Vs. Deputy Commissioner Of Income Tax, Ltu-1, Kolkata………………………………………...……….……Respondent Assessment Year: 2012-13 Asstt. Commissioner Of Income Tax, Ltu-1, Kolkata………............................................................Appellant Vs. Hindustan Copper Ltd…………………………………………………………………………………………………….....Respondent Tamra Bhavan 1, Ashutosh Choudhury Avenue Kolkata - 700 019 [Pan: Aaach 7409 R] Appearances By: Shri Sanjay Bhattacharya, Fca, Appeared On Behalf Of The Assessee. Shriamol Sudhirkamat. C1T, D/R & Shri Biswanath Das, Addl. Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing: November 11Th, 2021 Date Of Pronouncing The Order: November 17Th , 2021

2 to Section 37(1] of the Act, only from Assessment be disallowed by invoking Explanation 2 to Section 37

M/S HINDUSTAN COPPER LTD.,KOLKATA vs. DCIT, LTU-1, KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap, Hon’Ble Vice-, Kz & Shri Partha Sarathi Chaudhury, Hon'Ble) Assessment Year: 2012-13 Hindustan Copper Ltd…………………………………………………………………………………………….………….…Appellant Tamra Bhavan 1, Ashutosh Choudhury Avenue Kolkata - 700 019 [Pan: Aaach 7409 R] Vs. Deputy Commissioner Of Income Tax, Ltu-1, Kolkata………………………………………...……….……Respondent Assessment Year: 2012-13 Asstt. Commissioner Of Income Tax, Ltu-1, Kolkata………............................................................Appellant Vs. Hindustan Copper Ltd…………………………………………………………………………………………………….....Respondent Tamra Bhavan 1, Ashutosh Choudhury Avenue Kolkata - 700 019 [Pan: Aaach 7409 R] Appearances By: Shri Sanjay Bhattacharya, Fca, Appeared On Behalf Of The Assessee. Shriamol Sudhirkamat. C1T, D/R & Shri Biswanath Das, Addl. Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing: November 11Th, 2021 Date Of Pronouncing The Order: November 17Th , 2021

2 to Section 37(1] of the Act, only from Assessment be disallowed by invoking Explanation 2 to Section 37

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

37,490/- under Rule 80(2)(iii) is concerned, we find that before the lower authorities the assessee had raised the plea that no disallowance u/s 14A was warranted since the assessee was a dealer in shares although in its Balance Sheet, shares were disclosed under the head "Investments". We find that the Hon'ble Supreme Court in its recent

RAMPURIA INDUSTRIES & INVESTMENTS LTD., ,KOLKATA vs. PRINCIPAL CIT, CENTRAL - 1, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

2 to section 28. He also referred to 9 Assessment Year: 2013-14 Rampuria Industries & Investments Ltd. Rampuria Industries & Investments Ltd CBDT Instruction no. 3/2010 dated 23.03.2010 and based on his interpretation of the CBDT Instruction no. 3/2010 dated 23.03.2010 and based on his interpretation of the CBDT Instruction no. 3/2010 dated 23.03.2010 and based on his interpretation

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

disallowance of Rs.4,20,90,323 instead of Rs.46,20,484 as offered by the Appellant itself under section 14A in computation of the ‘Book Profit’ under section 115JB.” 32. Sec.115JB(1) of the Act provides that notwithstanding anything contained in any other provision of the Act, where in the case of an assessee, being a company, the income

M/S MERINO PANEL PRODUCTS LTD.,KOLKATA vs. PCIT-2, , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2, M/S Merino Panel Products Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcm5672Q Pcit-2, M/S Merino Industries Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaacc9186C Assessee By : Shri Shyam Sundar Jha, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 05.02.2025 Date Of Pronouncement : 24.02.2025

disallowed and added back in terms of Explanation 2 to Section 37(1) of the Act. Situation 2 : The company