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 already offered by the appellant in its computation of income. 2. a) That on the facts and in the circumstances of the case, Ld. CIT(A) erred in confirming the action of AO who rejected the explanation of the appellant against the applicability of the provisions of section 2(22) (e) of Income Tax Act, 1961. b) That

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 already offered by the appellant in its computation of income. 2. a) That on the facts and in the circumstances of the case, Ld. CIT(A) erred in confirming the action of AO who rejected the explanation of the appellant against the applicability of the provisions of section 2(22) (e) of Income Tax Act, 1961. b) That

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 already offered by the appellant in its computation of income. 2. a) That on the facts and in the circumstances of the case, Ld. CIT(A) erred in confirming the action of AO who rejected the explanation of the appellant against the applicability of the provisions of section 2(22) (e) of Income Tax Act, 1961. b) That

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]

b) of the Act and receiving rentals from properties held by the assessee company. The assessee claimed exemption u/s 11 of the Act thereby claiming exemption of income arising out its activities on the ground that trust i.e. the assessee company was not involved in carrying out any activities in the nature of rendering service in relation to trade, commerce

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]

b) of the Act and receiving rentals from properties held by the assessee company. The assessee claimed exemption u/s 11 of the Act thereby claiming exemption of income arising out its activities on the ground that trust i.e. the assessee company was not involved in carrying out any activities in the nature of rendering service in relation to trade, commerce

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

5 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 10.6 Accordingly, AO 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

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

5 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 10.6 Accordingly, AO 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

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]

disallowance made by the Assessing Officer under section 14A read with Rule 8D. Grounds No. 3 to 5 of the Revenue’s appeal are accordingly dismissed. 9. In Grounds No. 6 to 9, the Revenue has challenged the decision of the ld. CIT(Appeals) holding that the provisions of section 115JB are not applicable in the case of the assessee

URVASHI SAREES PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), , KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal of Revenue is dismissed

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

b) of the Act could have been issued in pursuance of directions of the Hon'ble Supreme Court of India, the Assessment Unit did not part with the documents relied upon in support of the issuance of such notice ignoring the mandatory directions of the Hon'ble Supreme Court and such purported action of the Assessment Unit and upholding

PRAMOD LAKRA DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. URVASHI SAREES PVT. LTD, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal of Revenue is dismissed

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

b) of the Act could have been issued in pursuance of directions of the Hon'ble Supreme Court of India, the Assessment Unit did not part with the documents relied upon in support of the issuance of such notice ignoring the mandatory directions of the Hon'ble Supreme Court and such purported action of the Assessment Unit and upholding

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

5(2). If that be so, income-tax thereon would be deductible at source under section 195(1). [Para 9.2] Page 10 of 20 I.T.A. Nos.: 701 & 702/KOL/2023 AYs: 2015-16 & 2016-17 Eximcorp India Private Limited. Under the MOA, the assessee was responsible for paying to the seller non- resident, the amounts specified therein for the purchase

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

5(2). If that be so, income-tax thereon would be deductible at source under section 195(1). [Para 9.2] Page 10 of 20 I.T.A. Nos.: 701 & 702/KOL/2023 AYs: 2015-16 & 2016-17 Eximcorp India Private Limited. Under the MOA, the assessee was responsible for paying to the seller non- resident, the amounts specified therein for the purchase

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

5(b) of the Banking Regulation Act, 1949, which means the accepting, for the purpose of lending or investment, of deposits of money from the public. Likewise, under section 22(1)(b) of the Banking Regulation Act, 1949 as applicable to co-operative societies, no co-operative society shall carry on banking business in India, unless

M/S MERINO INDUSTRIES LTD.,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2, M/S Merino Panel Products Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcm5672Q Pcit-2, M/S Merino Industries Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaacc9186C Assessee By : Shri Shyam Sundar Jha, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 05.02.2025 Date Of Pronouncement : 24.02.2025

disallowed and suo-moto added back by the assessee in terms of Explanation 2 to Section 37(1) while computing "Income under the head Business". However, according to assessee, since the said CSR contribution comprised of donation made to registered charitable trust, it was legally entitled to claim deduction under Section 80G of the Act to arrive at the "Total

M/S MERINO PANEL PRODUCTS LTD.,KOLKATA vs. PCIT-2, , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2, M/S Merino Panel Products Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcm5672Q Pcit-2, M/S Merino Industries Ltd. Aaykar Bhavan, Chowringhee 5, Alexandra Court, 601/1, Chowringhee Road, Kolkata- Square, Kolkata-700069, Vs. 700020, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaacc9186C Assessee By : Shri Shyam Sundar Jha, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 05.02.2025 Date Of Pronouncement : 24.02.2025

disallowed and suo-moto added back by the assessee in terms of Explanation 2 to Section 37(1) while computing "Income under the head Business". However, according to assessee, since the said CSR contribution comprised of donation made to registered charitable trust, it was legally entitled to claim deduction under Section 80G of the Act to arrive at the "Total

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

2) of the Income\nTax Act. While so concluding the Ld. A.O has observed that the assessee-\ncompany was at liberty to bifurcate the expense u/s. 35D at 1/5th of total\nexpenditure.\nIn appeal, the appellant-company Ld. A.R have advanced arguments and\nmade the following submissions:\na. The e details of invoices as received from M/s Borel and Barbey

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

2) of the Income\nTax Act. While so concluding the Ld. A.O has observed that the assessee-\ncompany was at liberty to bifurcate the expense u/s. 35D at 1/5th of total\nexpenditure.\nIn appeal, the appellant-company Ld. A.R have advanced arguments and\nmade the following submissions:\na. The e details of invoices as received from M/s Borel and Barbey

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

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

2) of the Income\nTax Act. While so concluding the Ld. A.O has observed that the assessee-\ncompany was at liberty to bifurcate the expense u/s. 35D at 1/5th of total\nexpenditure.\nIn appeal, the appellant-company Ld. A.R have advanced arguments and\nmade the following submissions:\na. The e details of invoices as received from M/s Borel and Barbey