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

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

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

disallowance of Rs. 4,45,692/- under section 14A of the Act as against Rs.1,40,266/- computed by the ld. Assessing

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

disallowance of Rs. 4,45,692/- under section 14A of the Act as against Rs.1,40,266/- computed by the ld. Assessing

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

disallowance of Rs. 4,45,692/- under section 14A of the Act as against Rs.1,40,266/- computed by the ld. Assessing

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

disallowance of Rs. 4,45,692/- under section 14A of the Act as against Rs.1,40,266/- computed by the ld. Assessing

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

disallowance of Rs.77,70,880/- paid as professional fees to legal\nadvisors on the alleged ground that the same are related to either acquisition\nof new unit or expansion of the existing undertaking and is to be governed\nby provisions of section 35D of the Act. In a nutshell, the relevant\njurisdictional facts are that during the subject assessment year

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

disallowance of Rs.77,70,880/- paid as professional fees to legal\nadvisors on the alleged ground that the same are related to either acquisition\nof new unit or expansion of the existing undertaking and is to be governed\nby provisions of section 35D of the Act. In a nutshell, the relevant\njurisdictional facts are that during the subject assessment year

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

disallowance of Rs.77,70,880/- paid as professional fees to legal\nadvisors on the alleged ground that the same are related to either acquisition\nof new unit or expansion of the existing undertaking and is to be governed\nby provisions of section 35D of the Act. In a nutshell, the relevant\njurisdictional facts are that during the subject assessment year

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 14A read with Rule 8D while computing the total income of the assessee as per the normal provisions of the Act was challenged in the appeal filed by the assessee before the ld. CIT(Appeals) and by relying, inter alia, on the decision of the Tribunal in the case of REI Agro Limited - vs.- DCIT

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

disallowance\nmade by the Ld. AO of ₹45,43,615/- under repairs and maintenance\nwithout there being any justification of as to why such disallowance\nshould be restricted to 10% and not more or fully disallowed.\n24.1 This issue has been decided in ITA No. 1246/KOL/2019 for AY\n2012-13 in the preceding para no. 7.5 of the order

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- V (I), KOLKATA vs. BIRLA CORPORATION LIMITED, BIRLA BUILDING

In the result, both the appeals of the revenue is dismissed, as also the cross objection filed by the assessee for both the years

Bench: SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

disallowance made under Section 14A of the Act could not be considered while computing MAT under Section 115JB of the Act. These authorities are merely cited as illustrations since there are other judicial pronouncements also on the subject, including an unreported judgement of the Hon’ble Calcutta High Court: CIT vs Jayshree Tea Limited [ITAT

NEW INDIA RETAILING & INVESTMENT LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

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

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

45 taxmann.com 116/223 Taxman 130/[2015] 372 ITR 97 (Guj.) - CIT v. Shivam Motors (P.) Ltd. [2015] 55 taxmann.com 262/230 Taxman 63 (All.) - Redington India Ltd. v. Addl. CIT [2017] 77 taxmann.com 257/392 ITR 633 (Mad.) 34. For the reasons set out above we therefore hold that the assessment order passed by the AO in which no disallowance u/s 14Aof

MAITHAN ALLOYS LTD,KOLKATA vs. DCIT, CIR. 1(1), KOLKATA

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

disallowance of ₹2,08,45,476/-.\n08. The issue raised in ground no.5 is against the confirmation of\ndisallowance u/s 2,24,651/- by the Id. CIT (A) as made by the Id. AO\nu/s 14A read with section

BANGIYA GRAMIN VIKASH BANK,MURSHIDABAD vs. ACIT, CIR.42, MURSHIDABAD

In the result, appeal of the assessee for Assessment Year 2008-09 is partly allowed

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank Asstt. Commissioner Of Income Vs Tax, Circle - 42, Murshidabad Nh-34, Bmc House P.O. Chuanpur, Berhampore Murshidabad - 742101 [Pan : Aaalb0462D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury & Shri Pranabesh Sarkar, Advocate Revenue By : Shri Ranu Biswas, Addl. Cit D/R सुनवाई क" तारीख/Date Of Hearing : 02/03/2023 घोषणा क" तारीख /Date Of Pronouncement: 15/03/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals) - 12, Kolkata (Hereinafter The “Ld. Cit(A)”) Even Dated 26/09/2019, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Years 2007-08 & 2008-09. 2. The Assessee Has Raised The Following Grounds Of Appeal For The Assessment Year 2007-08:- “1. For That On The Facts Of The Case, The Order Passed By The Ld. Cit(A)-12, Kolkata Is Completely Arbitrary, Unjustified & Illegal & Without Any Jurisdiction. 2. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Merit Of The Case, Therefore, The Order Passed By The Ld. C.I.T. (A) Is Completely Arbitrary, Unjustified & Illegal. 3. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Facts That In Reopening The Assessment U/S. 148 (R.W.S. 147)

disallowance of carry forward loss/set off of brought forward losses amounting to Rs.352,68,36,000/-. We observe that I.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank 6 five Regional Rural Banks, namely, Gaur Gramin Bank, Mallabhum Gramin Bank, Murshidabad Gramin Bank, Nadia Gramin Bank and Sagar Gramin Bank, which were existing

BANGIYA GRAMIN VIKASH BANK,MURSHIDABAD vs. ACIT, CIR.42, MURSHIDABAD

In the result, appeal of the assessee for Assessment Year 2008-09 is partly allowed

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank Asstt. Commissioner Of Income Vs Tax, Circle - 42, Murshidabad Nh-34, Bmc House P.O. Chuanpur, Berhampore Murshidabad - 742101 [Pan : Aaalb0462D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury & Shri Pranabesh Sarkar, Advocate Revenue By : Shri Ranu Biswas, Addl. Cit D/R सुनवाई क" तारीख/Date Of Hearing : 02/03/2023 घोषणा क" तारीख /Date Of Pronouncement: 15/03/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals) - 12, Kolkata (Hereinafter The “Ld. Cit(A)”) Even Dated 26/09/2019, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Years 2007-08 & 2008-09. 2. The Assessee Has Raised The Following Grounds Of Appeal For The Assessment Year 2007-08:- “1. For That On The Facts Of The Case, The Order Passed By The Ld. Cit(A)-12, Kolkata Is Completely Arbitrary, Unjustified & Illegal & Without Any Jurisdiction. 2. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Merit Of The Case, Therefore, The Order Passed By The Ld. C.I.T. (A) Is Completely Arbitrary, Unjustified & Illegal. 3. For That On The Facts Of The Case, The Ld. C.I.T. (A) Was Wrong In Not Considering The Facts That In Reopening The Assessment U/S. 148 (R.W.S. 147)

disallowance of carry forward loss/set off of brought forward losses amounting to Rs.352,68,36,000/-. We observe that I.T.A. No. 2580 & 2581/Kol/2019 Assessment Years: 2007-08 & 2008-09 Bangiya Gramin Vikash Bank 6 five Regional Rural Banks, namely, Gaur Gramin Bank, Mallabhum Gramin Bank, Murshidabad Gramin Bank, Nadia Gramin Bank and Sagar Gramin Bank, which were existing