APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act and allow these common grounds of appeal raised by the assessee against the addition made u/s 2(22)(e) of the Act. 31. The next common issue for our consideration is disallowance u/s 2(24)(x) of the Act at Rs. 27,126/- and at Rs. 53,507/- for Assessment Years

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act and allow these common grounds of appeal raised by the assessee against the addition made u/s 2(22)(e) of the Act. 31. The next common issue for our consideration is disallowance u/s 2(24)(x) of the Act at Rs. 27,126/- and at Rs. 53,507/- for Assessment Years

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act and allow these common grounds of appeal raised by the assessee against the addition made u/s 2(22)(e) of the Act. 31. The next common issue for our consideration is disallowance u/s 2(24)(x) of the Act at Rs. 27,126/- and at Rs. 53,507/- for Assessment Years

THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

disallowing exemption u/s 11 of the Act ,the AO observed that the assessee has received sponsorship fees from the sponsors for the purpose of holding meetings, conferences and seminars and in exchange they were allowed to display their banners and promote their business and brand names on its platforms and also for taking part in the deliberation of the said

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

disallowing exemption u/s 11 of the Act ,the AO observed that the assessee has received sponsorship fees from the sponsors for the purpose of holding meetings, conferences and seminars and in exchange they were allowed to display their banners and promote their business and brand names on its platforms and also for taking part in the deliberation of the said

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

32/- relating to closing work in progress. The Ld. CIT(A) simply affirmed order of AO by ignoring all the facts on record. Accordingly the order passed by the Ld. CIT(A) cannot be sustained as being contrary to the facts on records. Consequently we set aside the order of Ld. CIT(A) and direct the AO to delete

BIBHISANPUR SAMABAY KRISHI UNNAYAN SAMITY LTD.,KOLKATA vs. I.T.O., WARD - 27(4), HALDIA/ WBG-W-176(3), HALDIA

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

2 relating to the amount of ₹32,79,394/- as added to the income and charged as tax as per order, which is requested to be deleted considering the facts that the expenditure is illegal and bad in the eyes of law was incorrect as what was disallowed was the claim of deduction

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

2)(x) on acquisition of leasehold land & building; (ii) Disallowance of expenditure on scientific research u/s 35(1)(i) of the Act; (iii)Disallowance of claim u/s 43B in relation to reversal or write back of provision for liabilities; (iv) Disallowance of deduction claimed u/s 80JJAA; (v) Disallowance of prior period expenses. 13. We note that the revenue audit team

M/S. MERINO INDUSTRIES LIMITED ,KOLKATA vs. DCIT, CIRCLE - 12(1), KOLKATA , KOLKATA

In the result, the appeal of the revenue is hereby dismissed

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A No.174/Kol/2019 Assessment Year: 2014-15 Dcit, Circle-12(1), Kolkata…………………….................................……Revenue Vs. M/S Merino Industries Ltd.…………....................................……...…..…..Assessee 5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700020. [Pan: Aaacc9186C] I.T.A No.292/Kol/2019 Assessment Year: 2014-15 M/S Merino Industries Ltd …………………….…….......................…… Assessee 5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700020. [Pan: Aaacc9186C] Vs. Dcit, Circle-12(1), Kolkata.…….................................……....…........….. Revenue Appearances By: Shri Shyam Sundar Jha, Ar, Appeared On Behalf Of The Assessee. Shri Prakash Nath Barnwal, Cit-Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : December 12, 2024 Date Of Pronouncing The Order : February 06, 2025 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Are Cross-Appeals, One By The Assessee & The Other By The Revenue Against The Common Order Dated 09.10.2018 Of The Commissioner Of Income Tax (Appeals)-4, Kolkata [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since The Facts & Issued Involved In Both The Appeals Are Identical & Both The Appeals Are Arising Out Of The Same

disallowance of deduction. 19. Before us, the ld. Counsel for the assessee has made the following submissions on this issue: “3. Matter related to deduction claimed under section 80-1A of the Act: (A) We argued the case before your honour on the matter of claiming of deduction under section 80IA(4) (iv) of the income tax Act.1961

M/S. MILLENNIUM STOCK BROKING (P) LIMITED ,KOLKATA vs. DCIT, CIRCLE - 4(2), KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed as per terms indicated above

2) (a) That on the facts and circumstances of the case the Ld. CIT(A) erred in agreeing with AO in disallowing set off of unabsorbed depreciation of Rs.952839/- from income from other sources ignoring the mandate of section 32

DCIT, CIRCLE - 12(1), KOLKATA , KOLKATA vs. M/S. MERINO INDUSTRIES LIMITED , KOLKATA

In the result, the appeal of the revenue is hereby dismissed

disallowance of deduction.\n19. Before us, the ld. Counsel for the assessee has made the following\nsubmissions on this issue:\n“3. Matter related to deduction claimed under section 80-1A of the Act:\n(A) We argued the case before your honour on the matter of claiming of deduction under\nsection 80IA(4) (iv) of the income

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

disallowance as computed under subsection (2) & (3) for the purpose of Section 14A can be applied while making adjustment under clause (f) of Section 115JB. Reliance in this regard can be placed on the following decisions: Hon’ble Jurisdictional High Court in the case of CIT -vs.- Jayshree Tea & Industries Ltd. [G.A. No. 1501 of 2014 dated

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

disallowance as computed under subsection (2) & (3) for the purpose of Section 14A can be applied while making adjustment under clause (f) of Section 115JB. Reliance in this regard can be placed on the following decisions: Hon’ble Jurisdictional High Court in the case of CIT -vs.- Jayshree Tea & Industries Ltd. [G.A. No. 1501 of 2014 dated

SEEMA SUREKA,KOLKATA vs. DCIT, CENTRAL CIRCLE - 3(3), KOLKATA

Appeal of the assessee is partly allowed

32 ITR\n615, Smt. Tarulata Shyam v. CIT [1977] 108 ITR 345 (SC) and Keshavji Ravji&\nCo. v. CIT [1990] 49 Taxman 87/183 ITR 1 (SC), the Hon'ble bench has observed that\nprinciples of literal interpretation in respect of the relevant context vis-à-vis the\nlegislation intention have to be applied here as there is no ambiguity

JCIT (OSD), CIR- 11(1), , KOLKATA vs. M/S. GOBIND SUGAR MILLS LTD. , KOLKATA

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Ble

2. That the CIT(A) has erred in deleting the addition as a result of disallowance of claim of adjustment of brought forward additional depreciation in determining the taxable income u/s 115BAA of the I.T Act, 1961. 3. That the CIT(A) has erred in ignoring the clarification issued by CBDT vide Circular No. 29 of 2019 dated

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

2(c) of the assessee are dismissed. 5.9. As regards the issue in relation to section 115JB, the ld. Counsel for the assessee in support of the aforesaid grounds of appeal submitted that disallowance computed as per Rule 8D of the Rules cannot be applied u/s 115JB of the Act and the provisions of section 14A are restricted to computation

M/S. DEEPAK INDUSTRIES LTD.,KOLKATA vs. DCIT, CIRCLE - 6(1), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

disallowed the deduction on the ground that the Finance Act, 2015 has made this provisions w.e.f. 01.04.2016 and consequently the assessee is not entitled to claim the deduction for AY 2014-15 of Rs. 60,66,115/-. 14. In the appellate proceedings the Ld. CIT(A) allowed the appeal by referring to the provision of Section 32