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

5. As far as the disallowance under section 14A of the Act is concerned, the ld. AO after considering the disallowance suo moto offered by the assessee further made interest disallowance under Rule 8D(2

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

5. As far as the disallowance under section 14A of the Act is concerned, the ld. AO after considering the disallowance suo moto offered by the assessee further made interest disallowance under Rule 8D(2

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

5. As far as the disallowance under section 14A of the Act is concerned, the ld. AO after considering the disallowance suo moto offered by the assessee further made interest disallowance under Rule 8D(2

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

In the result, appeal of the assessee is allowed

5) of the Act provided other conditions are speculation transactions u/s 43(5) of the Act provided other conditions are speculation transactions u/s 43(5) of the Act provided other conditions are satisfied because of recent and systemic and techn satisfied because of recent and systemic and technological changes introduced by ological changes introduced by stock exchanges. We have observed

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]

5 I.T.A. Nos.933 & 934/Kol/2023 Assessment Years: 2013-14 & 2014-15 Indian Chamber of Commerce with which Indians are engaged or concerned”. The Ld. A.R assailed the order of First Appellate authority for rejecting the claim of the assessee u/s 11 of the Act on the ground that the activity of organization i.e. by holding that organizing the meetings, conferences

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]

5 I.T.A. Nos.933 & 934/Kol/2023 Assessment Years: 2013-14 & 2014-15 Indian Chamber of Commerce with which Indians are engaged or concerned”. The Ld. A.R assailed the order of First Appellate authority for rejecting the claim of the assessee u/s 11 of the Act on the ground that the activity of organization i.e. by holding that organizing the meetings, conferences

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

2. Pr. CIT Vs Totagars Co-operative Sale Society (Karnataka) (Supra) Page 5 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 10.6 Accordingly, AO disallowed the claim of deduction under section

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

2. Pr. CIT Vs Totagars Co-operative Sale Society (Karnataka) (Supra) Page 5 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 10.6 Accordingly, AO disallowed the claim of deduction under section

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)

5 involve a common issue relating to the deletion by the ld. CIT(Appeals) of the disallowance of Rs.36,60,39,331/- made by the Assessing Officer under section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962. 6. During the year under consideration, the assessee had earned income of Rs.54

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

2 Assessment Year: 2010-2011 M/s. UCO Bank respectfully follow the said decision of the Hon’ble Jurisdictional High Court and uphold the impugned order of the ld. CIT(Appeals) deleting the disallowance made under section 40(a)(ia). Ground No. 1 of the Revenue’s appeal is accordingly dismissed. 5

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

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

2) of section 14A. Prior to that, the assessing was free to adopt any reasonable and acceptable method. 14. The Hon'ble Punjab & Haryana High Court in the case of CIT vs. Hero Cycles Ltd 323 ITR 518 (P&H) has also held that disallowance under section 14A could not stand where it was found that for earning exempted income

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]

2% u/s 194C whereas as a matter of fact, TDS should have been deducted at the rate of 10% u/s 194A of the Act. Finally, the AO disallowed 30% of the above interest payment being disallowance u/s 40a(ia) of the Act. In our opinion the provisions of Section 40a(ia) cannot be invoked where there is a short deduction

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]

Section 135(5) of the Act works out to be Rs. 2 crores. Situation 1 : The company has been spent the required minimum CSR contribution of Rs 2 crores towards construction of roads & schools in the vicinity of the backward area where the factory is located. Tax Treatment: The entire CSR expenditure of Rs.2 crores is to be disallowed

THE JUTE CORPORATION OF INDIA LTD.,KOLKATA vs. DCIT CIR.-1, KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

disallowed the amount of Rs.11,71,051/- which was provided based on actuarial valuation allowable Under Section 37(1) of the Act. On careful consideration of the 8 The Jute Corporation of India Ltd. I T A N o . 2 3 0 5

ACIT, CIR-1(2), KOLKATA, KOLKATA vs. THE JUTE CORPORATION OF INDIA LTD.,, KOLKATA

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

disallowed the amount of Rs.11,71,051/- which was provided based on actuarial valuation allowable Under Section 37(1) of the Act. On careful consideration of the 8 The Jute Corporation of India Ltd. I T A N o . 2 3 0 5

BISWAJIT SWAIN,HOOGHLY vs. CIT(IT&TP), KOLKATA

In the result, all the six appeals of the assessee’s are allowed and the Stay applications are dismissed

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm] I.Ta No.1303/Kol/2019 A.Y 2014-15 Mahesh Kumar Vs. Commissioner Of Income Tax (It&Tp), C/O Ibm India Private Limited Global Kolkata Process Services-1A, Tax Team Hr Delivery Centre ‘D1’, 4Th Floor, Manyata Business Park, Outer Ring Road, Nagawara, Karnataka-560045. (Pan:Apspk6683A) Appellant Respondent I.Ta No.1307/Kol/2019 A.Y 2014-15 Smt. Lisa Das Vs. Assistant Commissioner Of Income-Tax Bl-353, Sector-2, Salt Lake, Kolkata- (It), Circle-1(2), Kolkata. 700 091. (Pan: Amqpd7668B) Appellant Respondent I.Ta Nos.1309/Kol/2019 A.Y 2014-15 Samir Kumar Nayak Vs. Commissioner Of Income-Tax (It&Tp), Sales Tax Office Lane, Balasore, Kolkata. Odisha-756001. (Pan: Afcpn5619M) Appellant Respondent I.Ta No.1310/Kol/2019 A.Y 2014-15 Balakalyan Chowdary Marathu Vs. Commissioner Of Income-Tax (It&Tp), 2/423-C, Mangalamitra, Rajampet, Kolkata. Kadapa, Andhra Pradesh-516115 (Pan: Asrpm6979R) Appellant Respondent I.Ta No.1312/Kol/2019 A.Y 2014-15 Biswajit Swain Vs. Commissioner Of Income-Tax (It&Tp), 60/4A, Haran Banerjee Lane, Kolkata. Konnagar, Hooghly, West Bengal- 712235 (Pan: Aysps1745C) Appellant Respondent I.Ta No.1313/Kol/2019 A.Y 2014-15 Azharul Haque Vs. Assistant Commissioner Of Income- Flat 6, Building 1, Sayed Ismail Lane, Tax (It), Circle-1(1), Kolkata. Ays- 2014-15

section 5(2) of the Act. As stated above, we find that the assessee was able to get control over the funds in his TCC for the first time only in Switzerland and not in India and first point of receipt also happens only in Switzerland. Hence it could be safely concluded that both accrual and receipt of funds happens

SAMIR KUMAR NAYAK ,BALASORE vs. CIT(IT&TP), KOLKATA

In the result, all the six appeals of the assessee’s are allowed and the Stay applications are dismissed

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm] I.Ta No.1303/Kol/2019 A.Y 2014-15 Mahesh Kumar Vs. Commissioner Of Income Tax (It&Tp), C/O Ibm India Private Limited Global Kolkata Process Services-1A, Tax Team Hr Delivery Centre ‘D1’, 4Th Floor, Manyata Business Park, Outer Ring Road, Nagawara, Karnataka-560045. (Pan:Apspk6683A) Appellant Respondent I.Ta No.1307/Kol/2019 A.Y 2014-15 Smt. Lisa Das Vs. Assistant Commissioner Of Income-Tax Bl-353, Sector-2, Salt Lake, Kolkata- (It), Circle-1(2), Kolkata. 700 091. (Pan: Amqpd7668B) Appellant Respondent I.Ta Nos.1309/Kol/2019 A.Y 2014-15 Samir Kumar Nayak Vs. Commissioner Of Income-Tax (It&Tp), Sales Tax Office Lane, Balasore, Kolkata. Odisha-756001. (Pan: Afcpn5619M) Appellant Respondent I.Ta No.1310/Kol/2019 A.Y 2014-15 Balakalyan Chowdary Marathu Vs. Commissioner Of Income-Tax (It&Tp), 2/423-C, Mangalamitra, Rajampet, Kolkata. Kadapa, Andhra Pradesh-516115 (Pan: Asrpm6979R) Appellant Respondent I.Ta No.1312/Kol/2019 A.Y 2014-15 Biswajit Swain Vs. Commissioner Of Income-Tax (It&Tp), 60/4A, Haran Banerjee Lane, Kolkata. Konnagar, Hooghly, West Bengal- 712235 (Pan: Aysps1745C) Appellant Respondent I.Ta No.1313/Kol/2019 A.Y 2014-15 Azharul Haque Vs. Assistant Commissioner Of Income- Flat 6, Building 1, Sayed Ismail Lane, Tax (It), Circle-1(1), Kolkata. Ays- 2014-15

section 5(2) of the Act. As stated above, we find that the assessee was able to get control over the funds in his TCC for the first time only in Switzerland and not in India and first point of receipt also happens only in Switzerland. Hence it could be safely concluded that both accrual and receipt of funds happens