DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. IMC LTD., KOLKATA

Appeal is dismissed

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

section 234B is consequential in nature and will be levied under both normal & MAT computation of Income. However if the liability to pay the advance tax arises due to the amendment in the Act retrospectively, then there would be no interest u/s 234B & 234C of the Act. In this connection we are putting our reliance in the case of Emami

M/S. IMC LTD.,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

Appeal is dismissed

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

section 234B is consequential in nature and will be levied under both normal & MAT computation of Income. However if the liability to pay the advance tax arises due to the amendment in the Act retrospectively, then there would be no interest u/s 234B & 234C of the Act. In this connection we are putting our reliance in the case of Emami

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. I M C LTD, KOLKATA

Appeal is dismissed

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

section 234B is consequential in nature and will be levied under both normal & MAT computation of Income. However if the liability to pay the advance tax arises due to the amendment in the Act retrospectively, then there would be no interest u/s 234B & 234C of the Act. In this connection we are putting our reliance in the case of Emami

ORIENT PAPER & INDUSTRIES 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) under section 14A of the Act read with Rule 8D. Ground No. 1 is accordingly allowed. 3. As regards the issue involved in Ground No. 2 relating to the dispute as regards the stage at which MAT credit is to be allowed, the ld. Representatives of both

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

disallowing an amount of Rs. 3,924 paid as interest on service tax. 6. Interest under section 2348 of the Act 6.1. The Ld. AO erred in levying Rs.23,24,948 as interest under section 234B

CENTURY ENKA LIMITED.,PUNE vs. D.C.I.T CIR - 6,KOLKATA., KOLKATA

In the result, assessee’s appeal stands partly allowed for statistical purpose

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2009-10

section 234B and 234C of the Act. 2. Inter-connected grounds raised by assessee in ground No. 1 to 4 in this appeal is that Ld. CIT(A) erred in confirming the action of Assessing Officer by sustaining the disallowance

DIPSC LIMITED,KOLKATA vs. J.C.I T CIR - VI,KOLKATA, KOLKATA

In the result, assessee’s appeal in ITA No

Bench: Shri M. Balaganesh, Am & Shri K. Narasimha Chary, Jm]

disallowing the claim of Rs.15,18,912/- under section 14A r/w 8D in computing book profits under section 115JB 8. Are the authorities below justified in imposing interest under section 234B

DPSC LIMITED,KOLKATA vs. D.C.I.T CIR - 6,KOLKATA, KOLKATA

In the result, assessee’s appeal in ITA No

Bench: Shri M. Balaganesh, Am & Shri K. Narasimha Chary, Jm]

disallowing the claim of Rs.15,18,912/- under section 14A r/w 8D in computing book profits under section 115JB 8. Are the authorities below justified in imposing interest under section 234B

DIPAK KUMAR DEY,HOOGHLY vs. CIT, KOLKATA-9, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi]

section 143 (3) on a total income of Rs. 584,750/-, as a result of which an additional demand of Rs. 1,17,910/-was raised against the assessee which was inclusive of education cess and interest levied u/s 234B, 234C & 234D. In the assessment order the A.O. made an addition of Rs. 5427/- on account of unexplained closing balance

DAMODAR VALLEY CORPORATION,KOLKATA vs. ADDL. CIT, RANGE - 9, KOLKATA, KOLKATA

Accordingly, the ground nos. 8 & 9 in ITA No. 451/Kol/2013 raised by the assessee are allowed

Bench: : Shri N.V. Vasudevan & Shri M. Balaganeshita No. 1622/Kol/2011 A.Y 2008-09

disallowance u/s 14A of the Act cannot be made in the instant case of the assessee corporation for the Asst Years 2008-09 and 2009-10. Accordingly the ground nos. 5 & 6 raised by the assessee in ITA No. 1622 / Kol / 2011 for the Asst Year 2008-09 and ground nos. 6 & 7 raised by the assessee

DCIT, CIRCLE -6 KOLKATA, KOLKATA vs. M/S NATIONAL INSURANCE CO. LTD., KOLKATA

In the result, all the appeals of the revenue are dismissed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

234B and section 234C of the Act for default in making payment of tax in advance which was physically impossible. 15. We, therefore, partly allow the appeal by answering the first question in the affirmative and against the assessee and the second and the third questions in the negative and against the revenue." Respectfully following the aforesaid decision, we dismiss

DCIT, CIRCLE -6 KOLKATA, KOLKATA vs. M/S NATIONAL INSURANCE CO. LTD., KOLKATA

In the result, all the appeals of the revenue are dismissed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

234B and section 234C of the Act for default in making payment of tax in advance which was physically impossible. 15. We, therefore, partly allow the appeal by answering the first question in the affirmative and against the assessee and the second and the third questions in the negative and against the revenue." Respectfully following the aforesaid decision, we dismiss

DCIT, CIRCLE -6 KOLKATA, KOLKATA vs. M/S NATIONAL INSURANCE CO. LTD., KOLKATA

In the result, all the appeals of the revenue are dismissed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

234B and section 234C of the Act for default in making payment of tax in advance which was physically impossible. 15. We, therefore, partly allow the appeal by answering the first question in the affirmative and against the assessee and the second and the third questions in the negative and against the revenue." Respectfully following the aforesaid decision, we dismiss

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.

disallowance of Rs. 61,99,971/- u/s 36(1)(va) read with section 2(24)(x) of the I.T. Act for employees' contribution towards the provident fund beyond the due date prescribed in the Act, but paid before the due date of filing of return u/s 139(1) of the Act. 7. For that the Assessing Officer has 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.

disallowance of Rs. 61,99,971/- u/s 36(1)(va) read with section 2(24)(x) of the I.T. Act for employees' contribution towards the provident fund beyond the due date prescribed in the Act, but paid before the due date of filing of return u/s 139(1) of the Act. 7. For that the Assessing Officer has erred

DCIT,CIRCLE-6, KOLKATA, KOLKATA vs. WEST BENGAL INDUSTRIAL DEVELOPMENT CORPORATION LTD., KOLKATA

In the result, the appeals being ITA Nos

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

disallowance under section 14A to 5% of the exempt income. Grounds No. 4 & 5 of the assessee’s appeal are thus partly allowed. 30. As regards the issue involved in Ground No. 6 relating to the reduction of assessee’s claim for bad debts by a sum of Rs.86,23,118/- being provision created under section 36(1)(viia

BIDYUT PRAKAS BHATTACHARYA,KOLKATA vs. I.T.O., WARD - 52(1), KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

234B amounting to Rs. 1,72,773 is liable to be summarily rejected. 4. Impugned levying interest under section 234C amounting to Rs. 32,317. The Learned Deputy Director of Income Tax, CPC, Bengaluru, has passed the order under section 154 in ignoring the foreign tax credit amounting to Rs 6,39,970 resulting into a tax on unjustified denial

M/S. PRICEWATERHOUSE COOPERS PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE - 2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed partly

disallowance of Firm Services expenditure payment amounting to ₹150,046,130/ ₹150,046,130/-.” 19. The ld. D/R, could not controvert the submissions of the assessee that the issue is uld not controvert the submissions of the assessee that the issue is uld not controvert the submissions of the assessee that the issue is covered by this above referred order