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

disallowed by the Ld. AO\nwhich has been confirmed by the Ld. CIT(A) and there is no reason to\ninterfere with the finding of the Ld. CIT(A). In case, the assessee has\nbooked profit on account of foreign exchange fluctuation on such\ntransactions, the Ld. AO is directed to reduce the same from the income\non matching principle

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 by the Ld. AO\nwhich has been confirmed by the Ld. CIT(A) and there is no reason to\ninterfere with the finding of the Ld. CIT(A). In case, the assessee has\nbooked profit on account of foreign exchange fluctuation on such\ntransactions, the Ld. AO is directed to reduce the same from the income\non matching principle

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

RAJASTHAN INDUSTRIES LTD,KOLKATA vs. DCIT, CIR. -5(1), KOLKATA

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

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 267/Kol/2024 Assessment Year: 2017-2018 Rajasthan Industries Limited,…….…...……Appellant Birla Building, 11Th Floor, 9/1, R.N. Mukherjee Road, B.B.D. Bagh, Kolkata-700001 [Pan:Aabcr3997B] -Vs.- Deputy Commissioner Of Income Tax,…....Respondent Circle-5(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

disallowed expenses amounting to Rs.1,30,821/- under section 14A read with Rule 8D. Thereafter the assessee was requested to furnish

ACIT-6(2), KOLKATA vs. M/S NATIONAL INSURANCE CO.LTD., KOLKATA

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Sri Rajpal Yadav & Dr. Manish Borad

sections 30 to 43B. The appellant had brought to the attention of the ld AO of the facts and the decision of the Hon'ble Supreme Court reported in 240 ITR 139 (SC). However, while making the assessment the ld AO had not considered the assessee's reference made to the decision of the Hon'ble Supreme Court as reported

BISWANATH HOSIERY MILLS LTD.,KOLKATA vs. ACIT, CIR. 4(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Rakesh Mishraassessment Year: 2017-18

Section 14A A.Y. 2017-18 Biswanath Hosiery Mills Ltd read with Rule 8D should apply only to non-strategic investments held by the appellant company. Based on this view, the appellant made a disallowance of Rs. 5,350/- in its computation of total income. The details of calculation of disallowance made by the appellant is as follows:- Particulars Amount Amount

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

30\nand 31 this issue and has confirmed his finding, he has confirmed 10%\nof the overall disallowance being treated as capital in nature and has\nallowed 90% of the disallowance and has given part relief. We note that\nwhether the expenditure is capital or revenue can only be examined by\nconsidering the nature of repair and any repair which

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

30\nand 31 this issue and has confirmed his finding, he has confirmed 10%\nof the overall disallowance being treated as capital in nature and has\nallowed 90% of the disallowance and has given part relief. We note that\nwhether the expenditure is capital or revenue can only be examined by\nconsidering the nature of repair and any repair which

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

30 to 43B in computing the profits and gains of a business" must be considered. Crucially, any expense incurred in infringement or contravention of law, or in breach of a regulatory cap, is hit by Explanation 1 to section 37(1) of the Act, which disallows

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

30 to 43B in computing the profits and gains of a business" must be considered. Crucially, any expense incurred in infringement or contravention of law, or in breach of a regulatory cap, is hit by Explanation 1 to section 37(1) of the Act, which disallows

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

30 to 43B in computing the profits and gains of a business" must be considered. Crucially, any expense incurred in infringement or contravention of law, or in breach of a regulatory cap, is hit by Explanation 1 to section 37(1) of the Act, which disallows

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

30\nand 31 this issue and has confirmed his finding, he has confirmed 10%\nof the overall disallowance being treated as capital in nature and has\nallowed 90% of the disallowance and has given part relief. We note that\nwhether the expenditure is capital or revenue can only be examined by\nconsidering the nature of repair and any repair which

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

30 to 36, although, it was not specifically pleaded by the\nassessee, the assessing authority has a statutory duty and obligation to\nconsider the claim of the assessee pertaining to a particular item as\nrevenue expenditure. Since there is a specific provision under section\n35D for amortization of certain preliminary expenses which was\napplicable on the facts of the case

TAPAS KUMAR SARKAR,BARASAT, NORTH TWENTY FOUR PARGANAS vs. I.T.O., WARD - 50(1),, KOLKATA

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Udayan Das Gupta & Shri Rakesh Mishra

section 194J and 194C respectively. The assessee relied upon the two circulars issued by the CBDT, viz Circular No. 4/2016 dated 29/02/2016 and Circular No. 5/2016 dated 29/02/2016, both of which have been reproduced in the order of the Ld. CIT(A). The assessee also made an alternate claim that the disallowance was to be restricted to 30

TAPAS KUMAR SARKAR,BARASAT, NORTH TWENTY FOUR PARGANAS vs. I.T.O., WARD - 50(1),, KOLKATA

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Udayan Das Gupta & Shri Rakesh Mishra

section 194J and 194C respectively. The assessee relied upon the two circulars issued by the CBDT, viz Circular No. 4/2016 dated 29/02/2016 and Circular No. 5/2016 dated 29/02/2016, both of which have been reproduced in the order of the Ld. CIT(A). The assessee also made an alternate claim that the disallowance was to be restricted to 30