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

272 ITR 53 (P & H), wherein it was held that the claim for deduction u/s.36(1)(viia)(a) of the ITA No.1199/Kol/2012 &1282/Kol/2012- Allahabad Bank A.Y.2008-09 Act cannot be greater than the amount debited to the profit and loss account as provision. 7. Aggrieved by the order of the CIT(A), the Assessee has raised ground No.1 & 2 before

ALLAHABAD BANK,KOLKATA vs. ADDL. CIT, RANGE - 6, KOLKATA, KOLKATA

In the result, the assessee’s appeals for A

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

D E R Per Shri P.M. Jagtap :- Out of these three appeals, two appeals being ITA No. 2175/KOL/2009 (assessee’s appeal) and ITA 2070/KOL/2009 (Revenue’s appeal) are cross appeals for A.Y. 2005-06, which are directed against the order of the ld. Commissioner of Income Tax (Appeals)-VI, Kolkata dated 28.10.2009, while the remaining third appeal being

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

d That on the facts and in the circumstances of the case and without prejudice to Grounds taken herein above, the learned CIT (Appeals) erred in confirming the action of the learned Assessing Officer in disallowing Rs. 1,60,96,045/- under section 14A read with Rule 8D without appreciating that strategic investments made purely for business purposes ought

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

d That on the facts and in the circumstances of the case and without prejudice to Grounds taken herein above, the learned CIT (Appeals) erred in confirming the action of the learned Assessing Officer in disallowing Rs. 1,60,96,045/- under section 14A read with Rule 8D without appreciating that strategic investments made purely for business purposes ought

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

d That on the facts and in the circumstances of the case and without prejudice to Grounds taken herein above, the learned CIT (Appeals) erred in confirming the action of the learned Assessing Officer in disallowing Rs. 1,60,96,045/- under section 14A read with Rule 8D without appreciating that strategic investments made purely for business purposes ought

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

d That on the facts and in the circumstances of the case and without prejudice to Grounds taken herein above, the learned CIT (Appeals) erred in confirming the action of the learned Assessing Officer in disallowing Rs. 1,60,96,045/- under section 14A read with Rule 8D without appreciating that strategic investments made purely for business purposes ought

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

d That on the facts and in the circumstances of the case and without prejudice to Grounds taken herein above, the learned CIT (Appeals) erred in confirming the action of the learned Assessing Officer in disallowing Rs. 1,60,96,045/- under section 14A read with Rule 8D without appreciating that strategic investments made purely for business purposes ought

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

1 (SC) defining the scope of section 14A of the Act incorporated retrospectively from 1st April, 1962. Relevant portion is reproduced herein below: 5.3. It is further apposite to refer to the decision of the ITAT Mumbai Bench in the case of ACIT vs Citicorp Finance (India) Ltd. (2007) 108ITD 457 dated 21st November, 2006 wherein on similar facts

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)

D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that

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)

D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that

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)

D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that

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)

D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule 8D (2) (1+2+3) = Rs.6,18,02,973/- In view of the fact that

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

272 CTR 282 (Del). 4. On the facts and in the circumstances of the case & in law, the Ld. AO grossly erred in making an upward adjustment of Rs. Page 3 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. 3,12,83,015/- computed as per Rule

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

272 CTR 282 (Del). 4. On the facts and in the circumstances of the case & in law, the Ld. AO grossly erred in making an upward adjustment of Rs. Page 3 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. 3,12,83,015/- computed as per Rule

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

disallowed.\n2.4 The argument that since the assessee is recovering Apex charges from\nits subsidiary companies on account of various management, supervisory\nand controlling activities that has been offered to tax does not in any way\nimpinged upon the applicability of section 14A. The earning through Apex\ncharges is a purely business income which has rightly been offered

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

disallowed.\n2.4 The argument that since the assessee is recovering Apex charges from\nits subsidiary companies on account of various management, supervisory\nand controlling activities that has been offered to tax does not in any way\nimpinged upon the applicability of section 14A. The earning through Apex\ncharges is a purely business income which has rightly been offered

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

disallowed.\n2.4 The argument that since the assessee is recovering Apex charges from\nits subsidiary companies on account of various management, supervisory\nand controlling activities that has been offered to tax does not in any way\nimpinged upon the applicability of section 14A. The earning through Apex\ncharges is a purely business income which has rightly been offered

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

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

1) of the Act- provision for foreseeable loss made in accordance with guidelines of AS-7 and duly debited in audited accounts of company is an allowable expenditure. The Tribunal decided the case in favour of the assessee and held that 'yes' it is an allowable expenditure. The Tribunal while deciding this issue has also considered the decision of Mazagon