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

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

4,14,13,831/- and ₹18,20,000/-; respectively being capital in nature in computing book profits section 115JB of the Act. Both the parties are unanimous herein as well in pointing out that the above co-ordinate bench’s decision has upheld the taxpayer’s similar substantive grievance in preceding assessment year 2010-11 as under:- “9. Next issue

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

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

4,14,13,831/- and ₹18,20,000/-; respectively being capital in nature in computing book profits section 115JB of the Act. Both the parties are unanimous herein as well in pointing out that the above co-ordinate bench’s decision has upheld the taxpayer’s similar substantive grievance in preceding assessment year 2010-11 as under:- “9. Next issue

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

255 ITR 273 (SC)/[2002] 174 CTR 521 (SC)[02-05-2002]. It is further stated that Section 115JB of the Act does not warrant any such upward adjustment in respect of provision for marked-to-market loss and hence, the addition in this regard is without any basis and liable to be quashed. 4.4 We have considered the facts

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

disallowed\nunder Rule 8D of the IT Rules and the disallowance has been made only\nunder clause (iii) of Rule 8D as per the formulae mentioned therein and\nthe same is not to be considered for the purpose of MAT and the\naddition, if any, made to the book profit on account of disallowance u/s\nPage 43\nITA

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

disallowable under section 4O(a)(ii) or section 115-O of the Act.” 3. As the issues raised in these appeals are common and the facts are identical, therefore, as agreed by both the parties, they Page 7 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

disallowable under section 4O(a)(ii) or section 115-O of the Act.” 3. As the issues raised in these appeals are common and the facts are identical, therefore, as agreed by both the parties, they Page 7 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited

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

255 ITR 273 (SC)/[2002] 174 CTR 521\n(SC)[02-05-2002]. It is further stated that Section 115JB of the Act does\nnot warrant any such upward adjustment in respect of provision for\nmarked-to-market loss and hence, the addition in this regard is without\nany basis and liable to be quashed.\n4.4 We have considered

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

In the result, the appeals filed by the assessee in ITA Nos

255 ITR 273 (SC)/[2002] 174 CTR 521\n(SC)[02-05-2002]. It is further stated that Section 115JB of the Act does\nnot warrant any such upward adjustment in respect of provision for\nmarked-to-market loss and hence, the addition in this regard is without\nany basis and liable to be quashed.\n4.4 We have considered

DCIT, CIR-2(2), KOLKATA, KOLKATA vs. M/S WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. THE DCIT, CIR-2, KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

DCIT, CIR-2(2), KOLKATA, KOLKATA vs. M/S WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, both the appeals of the assessee are allowed while both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 871 & 872/Kol/2015 Assessment Year 2010-11 & 2011-12 West Bengal State Electricity Distribution Co. Ltd. ...........................Appellant Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Dcit, Circle 2(2) Kolkata,...................…………………………………………Respondent Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 I.T.A. No. 1001 & 1002/Kol/2015 Assessment Year 2010-11 & 2011-12 Dcit, Circle 2(2) Kolkata,...................…………………………………………Appellant Aayakar Bhawan, 7Th Floor, P-7, Chowringhee Square, Kolkata - 700069 West Bengal State Electricity Distribution Co. Ltd. ....................Respondent Bidyut Bhawan, Sector – Ii, Block Dj, Bidhan Nagar, Kolkata – 700 091 [Pan: Aaacw6953H] Appearances By: Shri Anand R. Baiwar, Cit Appearing On Behalf Of The Revenue. Shri N.K. Poddar, Sr. Advocate Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : September 12, 2017 Date Of Pronouncing The Order : October 31, 2017 Order Shri P.M. Jagtap, Am These Four Appeals, Two Filed By The Assessee Being Ita No. 871 & 872/Kol/2015 & Two Filed By The Revenue Being Ita No. 1001 & 1002/Kol/2015, Are Cross-Appeals Which Are Directed Against Two

disallowance made by the AO on account of its claim for additional depreciation under section 32(1)(iia) was challenged by the assessee in the appeal filed before the Ld. CIT (A). During the course of appellate proceedings before the Ld. CIT (A), the following submissions were made by the assessee in support of its claim for additional depreciation under

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

Section 14A, and is only to the extent of 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

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

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance

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

section 115JB of the\nAct is a self-contained code and only the disallowances mentioned in\nthe explanation could have been made. Further, clause (f) of\nExplanation 1 to section 115JB of the Act refers to the amount or\namounts of expenditure relatable to any income to which section 10\napplies. The Ld. AO has not made any disallowance

CITY HOLDINGS LTD.,KOLKATA vs. DCIT, CIRCLE-3, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2011-12 City Holdings Ltd., Dcit, Circle-3, बनाम / C/O D.J. Shah & Co. Kalyan P-7, Chowringhee V/S. Bhavan, 2 Elgin Road, Square, Kolkata-69 Kolkata-20 [Pan No.Aabcc 1071 B] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Arindam Bhattarcharjee, Addl. Cit-Dr ""यथ" क" ओर से/By Respondent 02-01-2018 सुनवाई क" तार"ख/Date Of Hearing 05-01-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-I, Kolkata Dated 29.06.2016. Assessment Was Framed By Dcit,Circle-3 Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 05.03.2014 For Assessment Year 2011-12. The Grounds Raised By The Assessee Per Its Appeal Are As Under:- “1. For That In The Facts & Circumstances Of The Case The Appellate Order Passed Was In Violation Of Principals Of Natural Justice Hence Is Bad In Law & Be Quashed. 2. For That In The Facts & Circumstances Erred In Adding Rs.1,73,967/- By Invoking Provisions Of Section14A Of The It Act 1961 Red With Rule 8D Of The It Rules 1962 Despite The Assessee Providing Detailed Working Regarding Disallowance Made Suo Moto By The Assessee.

4 Being aggrieved by this order of Ld. CIT(A) assessee came in second appeal before us. 6. Before us Ld. AR for the assessee reiterated the same arguments that were placed before Ld. CIT(A) and he requested the Bench to decide the issue on merit. On the other hand, Ld. DR heavily relied on the order of Authorities

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

Bench: Shri S.S.Godara & Dr. A.L. Saini

disallowed the claim of assessee and added to the total amount of subsidy received by it while calculating the tax under Minimum Alternate Tax (MAT) provision. 11. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The assessee before Ld. CIT(A) submitted that incentive was received by it on account of sales tax remission

M/S TATA METALIKS LTD.,KOLKATA vs. DCIT, CIR-3(1), KOLKATA, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

disallowed the claim of assessee and added to the total amount of subsidy received by it while calculating the tax under Minimum Alternate Tax (MAT) provision. 11. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The assessee before Ld. CIT(A) submitted that incentive was received by it on account of sales tax remission