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

44 of the Act and override anything to the contrary contained in the provision of this Act relating to the computation of income chargeable under the Act; profits and gains of any business of insurance in sections 28 to 43B or in section 199 of the Act. The disallowance

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

44 of the Act and override anything to the contrary contained in the provision of this Act relating to the computation of income chargeable under the Act; profits and gains of any business of insurance in sections 28 to 43B or in section 199 of the Act. The disallowance

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

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

section 14A could not stand. We notice that assessee itself disallowed the interest which is directly applicable, Dmat charges and administrative exp on estimation totaling to Rs.1,55,44

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

44. The Assessing Officer disallowed an amount of Rs.7,38,9001- holding that the same was not claimed in the income tax return u/s 80G and 35AC of the Income-tax Act, 1961, by observing as follows:- "The assessee included a sum of Rs.7,38,900/- paid as donation under the head 'other expenditures '. The assessee bank did not clam

LEBONG INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE-11, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

section 14A could not stand. We notice that assessee itself disallowed the interest which is directly applicable, Dmat charges and administrative exp on estimation totaling to Rs.1,55,44

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

section 44 read with Rule 5 of the First Schedule, there could not be any disallowance of the amount written

PUNJAB PRODUCE HOLDINGS LTD,KOLKATA vs. D.C.I.T., CIRCLE - 5(1),KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed

Bench: Shri P.M. Jagtap, Am] I.T.A. No. 2057/Kol/2017 Assessment Year: 2009-10 M/S. Punjab Produce Holdings Ltd................................……………….....................Appellant Birla Building, 4Th Floor, 9/1, R.N. Mukherjee Road, Kolkata – 700 001 [Pan: Aabcm 7053 M] Dcit Cir 5(1),...................………………………………………………………………………Respondent Aayakar Bhawan, 8Th Floor, P-7, Chowringhee Square, Kolkata – 700 069 Appearances By: Shri Akkal Dudhuwala, Ar Appearing On Behalf Of The Assessee. Shri Pinaki Mukherjee, Addl. Cit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 22, 2018 Date Of Pronouncing The Order : March 21, 2018

disallowance of Rs. 5,44,958/- was offered by the assessee in its computation of total income on account of expenditure incurred in relation to the earning of exempt income as required by section

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

44,423/- alleging the same as undisclosed income both under the normal provisions and while computing book profits under section 115JB of the Act. 4) That the appellant craves leave to add to and/or alter, amend, modify or rescind the grounds hereinabove before or at the hearing of this appeal.” 2.3 The Revenue has raised the following revised grounds

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

44,423/- alleging the same as undisclosed income both under the normal provisions and while computing book profits under section 115JB of the Act. 4) That the appellant craves leave to add to and/or alter, amend, modify or rescind the grounds hereinabove before or at the hearing of this appeal.” 2.3 The Revenue has raised the following revised grounds

M/S RECKITT BENCKISER (I) LTD.,KOLKATA vs. JCIT, R-12, KOLKATA, KOLKATA

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

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

44. The issue raised in Ground No. 5 relates to the disallowance made by the Assessing Officer under section 14A which

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)

44,668/-; respectively. The CIT(A)’s detailed discussion qua the instant issue in former Assessment Year followed mutatis mutandis in latter Assessment Year reads as under: “08. Grounds numbering 6 to 10 emanate from the action of the Ld. A.O in making a disallowance of Rs.3,16,92,148/- by disallowing a portion of the claim of depreciation, holding

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)

44,668/-; respectively. The CIT(A)’s detailed discussion qua the instant issue in former Assessment Year followed mutatis mutandis in latter Assessment Year reads as under: “08. Grounds numbering 6 to 10 emanate from the action of the Ld. A.O in making a disallowance of Rs.3,16,92,148/- by disallowing a portion of the claim of depreciation, holding

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)

44,668/-; respectively. The CIT(A)’s detailed discussion qua the instant issue in former Assessment Year followed mutatis mutandis in latter Assessment Year reads as under: “08. Grounds numbering 6 to 10 emanate from the action of the Ld. A.O in making a disallowance of Rs.3,16,92,148/- by disallowing a portion of the claim of depreciation, holding

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)

44,668/-; respectively. The CIT(A)’s detailed discussion qua the instant issue in former Assessment Year followed mutatis mutandis in latter Assessment Year reads as under: “08. Grounds numbering 6 to 10 emanate from the action of the Ld. A.O in making a disallowance of Rs.3,16,92,148/- by disallowing a portion of the claim of depreciation, holding

KESORAM INDUSTRIES LTD.,KOLKATA vs. ADD.CIT,RANGE-5,, KOLKATA

In the result the revenue’s appeals for A

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LIMITED,KOLKATA vs. ADDL C.I.T RG - 5,KOLKATA, KOLKATA

In the result the revenue’s appeals for A

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

KESORAM INDUSTRIES LIMITED,KOLKATA vs. DCIT, CIRCLE-5(1), KOLKATA, KOLKATA

In the result the revenue’s appeals for A

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return

D.C.I.T CIR - 5,KOLKATA, KOLKATA vs. M/S KESORAM INDUSTRIES LIMITED, KOLKATA

In the result the revenue’s appeals for A

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139(1) of the Act. It nowhere provides that once the assessee has filed a return of income within due date and such return includes a claim for deduction, then the quantum of deduction permissible as per law cannot be subsequently altered or modified. We find that for the AY 2008-09 the assessee had filed its return