AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

disallowance without appreciating that the Ld. AO in the draft assessment order under section 143(3) read with 144C(1) of the Act did not make any adverse comment under section 37 (1) of the Act in respect of the said transaction after examining the details of the said transaction submitted by the appellant to the Ld. TPO and subsequently

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

2) of the Rules for making disallowance u/s 14A of the Act. It was argued by the Id AR that 69.07% of the assessee's investments (including in non-equity oriented mutual funds growth schemes) did not provide for payment of any dividend Upon redemption/disposal of such investments, the Page 45 of 59 I.T.A. Nos.: 494 & 495/Kol/2020 & I.T.A

BIRLA CORPORATION LTD.,KOLKATA vs. DCIT, CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

2) of the Rules for making disallowance u/s 14A of the Act. It was argued by the Id AR that 69.07% of the assessee's investments (including in non-equity oriented mutual funds growth schemes) did not provide for payment of any dividend Upon redemption/disposal of such investments, the Page 45 of 59 I.T.A. Nos.: 494 & 495/Kol/2020 & I.T.A

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

2) of the Rules for making disallowance u/s 14A of the Act. It was argued by the Id AR that 69.07% of the assessee's investments (including in non-equity oriented mutual funds growth schemes) did not provide for payment of any dividend Upon redemption/disposal of such investments, the Page 45 of 59 I.T.A. Nos.: 494 & 495/Kol/2020 & I.T.A

BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT, CIR-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

2) of the Rules for making disallowance u/s 14A of the Act. It was argued by the Id AR that 69.07% of the assessee's investments (including in non-equity oriented mutual funds growth schemes) did not provide for payment of any dividend Upon redemption/disposal of such investments, the Page 45 of 59 I.T.A. Nos.: 494 & 495/Kol/2020 & I.T.A

DCIT, CIRCLE - 3(1), , KOLKATA vs. M/S. THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD.,, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Ita No. 1469 & 1470/Kol/2019 Assessment Year: 2013-14 & 2015-16 Deputy Commissioner Of Income Tax, Circle-12(1), Kolkata……………….………....…........Appellant Vs. M/S. The Peerless General Finance & Investment & Co. Ltd..................……………….…..Respondent 3, Esplanade East Kolkata – 700 069 [Pan : Aabct 3043 L] Appearances By: Shri Supriyo Pal, Jcit Sr. D/R, Appearing On Behalf Of The Revenue Shri S.K. Tulsiyan, Adv. & Subrata Dey, Ca, Appeared On Behalf Of The Assessee. . Date Of Concluding The Hearing : October 31St, 2019 Date Of Pronouncing The Order : December 5Th, 2019 Order Per J. Sudhakar Reddy, Am :-

disallowance u/s 40(a)(ia) of the Income-tax Act, 1961 is warranted. Act, 1961 is warranted. I have gone through the order of the Id. A.O. and the I have gone through the order of the Id. A.O. and the submissions made by the assessee. It is the requirement of law that TDS can be submissions made

D.C.I.T CIR - 3(1), KOLKATA vs. M/S THE PEERLESS GENERAL FINANCE & INVESTMENT CO LTD, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Ita No. 1469 & 1470/Kol/2019 Assessment Year: 2013-14 & 2015-16 Deputy Commissioner Of Income Tax, Circle-12(1), Kolkata……………….………....…........Appellant Vs. M/S. The Peerless General Finance & Investment & Co. Ltd..................……………….…..Respondent 3, Esplanade East Kolkata – 700 069 [Pan : Aabct 3043 L] Appearances By: Shri Supriyo Pal, Jcit Sr. D/R, Appearing On Behalf Of The Revenue Shri S.K. Tulsiyan, Adv. & Subrata Dey, Ca, Appeared On Behalf Of The Assessee. . Date Of Concluding The Hearing : October 31St, 2019 Date Of Pronouncing The Order : December 5Th, 2019 Order Per J. Sudhakar Reddy, Am :-

disallowance u/s 40(a)(ia) of the Income-tax Act, 1961 is warranted. Act, 1961 is warranted. I have gone through the order of the Id. A.O. and the I have gone through the order of the Id. A.O. and the submissions made by the assessee. It is the requirement of law that TDS can be submissions made

EUREKA FORBES LTD.,KOLKATA vs. ACIT, RG-10, KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 239/Kol/2015 Assessment Year : 2009-10 Eureka Forbes Ltd. -Vs- Acit, Range-10, Kolkata [Pan: Aaace 5767 F ] (Appellant) (Respondent)

249 (Guj) 7.2. There is no dispute on the fact that no disallowance is to be made under Rule 8D(2)(i) of the Rules in the instant case. 7.3. With regard to disallowance to be made under Rule 8D(2)(iii) of the Rules, we hold that only dividend bearing investments should be taken into account for the purpose

D.C.I.T.CC - XXVIII,KOL., KOLKATA vs. M/S BINANI INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

disallowing expenditure “incurred by the assessee in relation to the tax exempt income”. This proportion or portion of the tax exempt income surely cannot swallow the entire amount as has happened in this case”. In view of the aforesaid facts and circumstances and respectfully following the various judicial precedents relied upon hereinabove, we hold that the addition

DREAMLAND EDUCATION SOCIETY,HOOGHLY vs. ACIT, CIR-2, HOOGHLY, HOOGHLY

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

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A Nos. 489-495/Kol/2016 Assessment Years : 2005-06 To 2011-12

249(4) being fulfilled, the impugned denial of the admission of the appeal for disposal on merit was erroneous, uncalled for and bad in law. 3) That the Ld. CIT(A) further erred in having failed to appreciate that although no return u/s.l39(1)/139(4A) was filed, but the return filed in response to notice u/s. 148(1) shall

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S JAY SHREE TEA & INDUSTRIES LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.736 & 737/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2012-13) Jcit (Osd), Cir-4(1), Kolkata Vs. M/S. Jay Shree Tea & Industries Ltd. P-7, Chowringhee Square, 10, Camac Street, Industry House, 15Th Floor, Kolkata – Kolkata – 700 069. 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaacj 7788 D (Appellant) .. (Respondent)

2. That on the facts and circumstances of the case, Ld. CIT(A) erred in law in deleting the disallowance of Rs.36,25,000/- on account of notional interest on sticky loan not accounted M/s. Jay Shree Tea & Industries Ltd. ITA Nos.736 & 737/Kol/2016 Assessment Years: 2009-10 & 2012-13 for though the AO has added it back on the basis

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S JAY SHREE TEA & INDUSTRIES LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.736 & 737/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2012-13) Jcit (Osd), Cir-4(1), Kolkata Vs. M/S. Jay Shree Tea & Industries Ltd. P-7, Chowringhee Square, 10, Camac Street, Industry House, 15Th Floor, Kolkata – Kolkata – 700 069. 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaacj 7788 D (Appellant) .. (Respondent)

2. That on the facts and circumstances of the case, Ld. CIT(A) erred in law in deleting the disallowance of Rs.36,25,000/- on account of notional interest on sticky loan not accounted M/s. Jay Shree Tea & Industries Ltd. ITA Nos.736 & 737/Kol/2016 Assessment Years: 2009-10 & 2012-13 for though the AO has added it back on the basis

M/S THAKUR PRASAD SAO & SONS (P) LTD,KOLKATA vs. D.C.I.T CC - XVII,KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

249/- . No disallowance of expenditure incurred in relation to such exempt income was made by the assessee. Therefore, the Learned AO invoked the provisions of section 14A of the Act read with Rule 8D of the IT Rules. The Learned AO applied Rule 8D(2

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

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

2 State capital subsidy since capital in nature 59,75,000/- The assessee claimed that the above receipts are not taxable in the hands of assessee under the normal provision of computation of income. Therefore, same are also eligible for deduction u/s 115JB of the Act. The assessee also submitted that sales tax remission and state capital subsidy was received

TATA METALIKS LIMITED,KOLKATA vs. DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA

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

2 State capital subsidy since capital in nature 59,75,000/- The assessee claimed that the above receipts are not taxable in the hands of assessee under the normal provision of computation of income. Therefore, same are also eligible for deduction u/s 115JB of the Act. The assessee also submitted that sales tax remission and state capital subsidy was received

SREI INFRASTRUCTURE FINANCE LIMITED,KOLKATA vs. DCIT, CIRCLE-11(2), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

disallowance of provision for leave Encashment of Rs.57,30,833/- in the computation of total income under the normal provisions of the Act. (This covers ground No. 3 raised by the assessee in ITA No.1318/Del/12 for A.Y.08- 09, Ground No. 2 raised by the assessee in ITA No.1821/Kol/16, for A.Y.11-12) 17. We have heard the rival submissions. We find that

ACIT, CIR-11(2), KOLKATA, KOLKATA vs. M/S SREI INFRASTRUCTURE FINANCE LTD., KOLKATA

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

disallowance of provision for leave Encashment of Rs.57,30,833/- in the computation of total income under the normal provisions of the Act. (This covers ground No. 3 raised by the assessee in ITA No.1318/Del/12 for A.Y.08- 09, Ground No. 2 raised by the assessee in ITA No.1821/Kol/16, for A.Y.11-12) 17. We have heard the rival submissions. We find that

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

2), it became mandatory that they should have culminated in an order under section 143(3). 10. In Trustees of H. E. H. the Nizam's Supplemental Family Trust v. CIT [2000] 242 ITR 381 the Apex Court has observed that it is "settled law that unless the return of income already filed is disposed of, notice for reassessment under