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

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

Section 115JB of the 1. T.Act, 1961 for deleting the disallowance of Rs.108,45,17,830/- made while computing taxable income under normal computational provisions.” 38. The Assessing Officer in his assessment order dated 30.12.2010 disallowed an amount of Rs.108,45,17,830/- on account of amortisation of premium paid for purchase of securities by observing in the assessment order

ITO, WARD-36(1), KOLKATA, KOLKATA vs. SRI RAGHU NANDAN MODI, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

section 23(1)(a) of the Act which requires to determine the same as per the guidelines of Municipal Corporation in the above facts & circumstances. Thus, the value of rent free accommodation determined by the AO on the rent fetched by the property in the earlier years for Rs. 96 lacs cannot applied in the case before us. In view

PADMALOCHANAN RADHAKRISHNAN,KOLKATA vs. A.C.I.T., CIRCLE - 62, KOLKATA, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 130/Kol/2023 Assessment Year: 2014-2015

disallowed for want of evidence of interest income. Aggrieved, the assessee preferred appeal before the ld. CIT(Appeals) and made a detailed submission and partly succeeded. Aggrieved, the assessee is now in appeal before the Tribunal. 4. Ld. Counsel for the assessee referring to the written submission filed before the ld. CIT(Appeals) submitted that firstly ld. Assessing Officer failed

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13

section 23 was inserted by finance Act 2017 w.e.f. 01.04.2018; ITA No.1298/Kol/2016 A.Y. 2012-13 DCIT Cir-12(1), Kol. Vs. M/s Bengal Ambuja Housing Development Ltd. Page 9 therefore, the same is not applicable for the assessment year under consideration. 11. Therefore, respectfully following the decisions of coordinate bench in assessee’s own case

MUKESH KUMAR AGARWAL,HOWRAH vs. PCIT-21, KOLKATA, KOLKATA

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

Bench: Shri N.V. Vasudevan, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.857/Kol/2017 (िनधा"रणवष" / Assessment Year: 2012-13 Mukesh Kr. Agarwal Vs. P.C.I.T – 21, Kolkata 169, A.J.C. Bose Road, 116/1, Girish Ghosh Road, Bamboo Villa, Kolkata – Liluah, Howrah-711204. 700014. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Adapa 7519D (Appellant) .. (Respondent) Appellantby :Shri A. K. Tibrewal, Fca Respondent By :Md. Usman, Cit, Dr सुनवाईकीतारीख/ Date Of Hearing : 17/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 18/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2012-13, Is Directed Against An Order Passed By The Ld. Commissioner Of Income Tax-21, Kolkata, Under Section 263 Of The Income Tax Act, 1961, ( Hereinafter Referred To As The ‘Act’), Dated 03.03.2017. 2. The Assessee Has Raised The Following Grounds Of Appeal: “1. That The Order Passed By Ld. Principal Commissioner Of Lncome Tax - 21, Kolkata Under Section 263 Of The Lncome Tax Act, 1961 Setting Aside The Assessment Order Dated 27Th March, 2015 Passed By The Lncome Tax Officer Under Section 143(3) Of The Lncome Tax Act, 1961 Is Without Jurisdiction, Against Law & Facts Of The Case & Therefore Illegal & Is Liable To Be Quashed.

section 23(4)(b) of the Act have not been applied and the genuineness of Gross Rent received have not been examined; and (ii) Income from other sources has been declared on account of interest income at Rs.6,00,784/- on loans for Rs.40,00,000/- advanced by the assessee to M/s Rajasthan Lace Pvt. Ltd. However, no income from

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowing the provisional losses the AO has held that the appellant has debited the provision for derivative factual loss (Market to Market) in the P & L Account and claimed as a deduction. The AO relied over the CBDT instruction No. 3/2010 dated 23 March 2010 regarding foreign exchange fluctuation loss whose contents are as under:- ""Mark to Market' loss

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowing the provisional losses the AO has held that the appellant has debited the provision for derivative factual loss (Market to Market) in the P & L Account and claimed as a deduction. The AO relied over the CBDT instruction No. 3/2010 dated 23 March 2010 regarding foreign exchange fluctuation loss whose contents are as under:- ''"Mark to Market' loss

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 under section 40(a)(ia) and since the payments made by the assessee in excess of Rs.20,000/- in case of single payments and in excess of Rs.50,000/- in case of aggregate payments for a year to 23

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)

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 2003-04 to 2011-12. The Revenue is very very fair

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)

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 2003-04 to 2011-12. The Revenue is very very fair

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)

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 2003-04 to 2011-12. The Revenue is very very fair

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)

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 2003-04 to 2011-12. The Revenue is very very fair

M/S INTER STATE OIL CARRIER LTD.,KOLKATA vs. ITO, WD-8(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee for A

Bench: Shri P.M. Jagtap

23,813/- and since the assessee- company had already made a disallowance of Rs.3,77,450/-, a further disallowance of Rs.11,46,363/- was made by him under section

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 made by the Assessing Officer on account of assessee’s claim for deduction under section 80IA to the I.T.A. Nos. 1671/KOL./2008 & 1024/KOL/2009 Assessment years: 2003-2004 & 2004-2005 & I.T.A. Nos. 1699/KOL/2008 & 973/KOL/2009 Assessment years: 2003-2004 & 2004-2005 Page 20 of 34 extent of Rs.47,34,361/- and upholding the same, we dismiss Ground

M/S POWER MAX (INDIA) PVT. LTD.,KOLKATA vs. DCIT, CIR-8, KOL., KOLKATA

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

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 125/Kol/2017 Assessment Year: 2011-12 M/S. Power Max (India) Pvt. Ltd....................................………………………….............Appellant 18A, Park Street, Stephen Court, Kolkata – 700 071. [Pan : Aabcp 9559 R] Dcit Circle 8 Kolkata..………………………………………………………….............Respondent Aayakar Bhawan Poorva, 110, Shanti Pally, 6Th Floor, Kolkata – 700 107. Appearances By: Shri A.N. Chatterjee, Fca Appearing On Behalf Of The Assessee. Shri S. Dasgupta, Addl. Cit (Dr) Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : April 05, 2018 Date Of Pronouncing The Order : June 15, 2018 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Cit(A) – 18, Kolkata Dated 19.12.2016. 2. At The Time Of Hearing Before The Tribunal, The Learned Counsel For The Assessee Has Not Pressed Ground No 1 Raised In The Appeal Of The Assessee. It Is Also Noted That Ground No 4 Raised By The Assessee In This Appeal In General Which Does Not Call For Specific Adjudication.

23,755/-. He accordingly disallowed the said amount also under section 40(a)(ia). Thus a total disallowance of Rs. 1,16,51,016/- was made

ACIT, CIR.-10(2), KOLKATA,KOLKATA vs. M/S NAGREEKA SYNTHETICS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

disallowance made under section 14A in the assessment originally completed under section 143(3) and also made a further addition of Rs. 4,23

INCOME TAX OFFICER-WARD-12(1), KOLKATA, KOLKATA vs. M/S STANDARD LEATHER PVT. LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2010-11

23,88,960/- cannot be disallowed by applying the provision of section 40A(3) of the Act :- i) The appellant