ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. MCNALLY BHARAT ENGINEERING COMPANY LIMITED, KOLKATA

Appeal is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A No.1369/Kol/2019 ("नधा"रण वष" / Assessment Year: 2009-10) Acit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Co. Ltd. 4, Mangoe Lane, 7Th Floor, Kolkata. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent)

50B of the Act. The Revenue fails in its second substantive grievance as well. 9. Lastly comes the third issue of provision for leave encashment disallowance of Rs.82,13,368/-. The Assessing Officer invoked section 43B(f) of I.T.A No.1369/Kol/2019 M/s. Mcnally Bharat Engineering Co. Ltd. the Act that such a provision is allowable only in case of actual payment

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. XPRO INDIA LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasusdevan & Shri Waseem Ahmedassessment Year :2005-06

1. On the facts and in the circumstance of the case and in law, Ld. CIT(A) erred in deleting the Capital Gain amounting to Rs.10,92,09,696/- u/s 50B of the IT Act treating the transfer slump sale as per provision of section 2(42C) of the IT Act. ITA No.214/Kol/2011 A.Y. 2005-06 DCIT

SAMIR KUMAR MAITY,HOWRAH vs. I.T.O WD - 48(2),KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

section 50B of the Act was not available, he computed the capital gains u/s 50B of the Act as under:- Cost of acquisition of cold storage plant as per Balance sheet of the year 2005-06 45,00,000 Add: Addition claimed to have been made amounting To Rs 7,76,000/- disallowed for want of evidence NIL Less: Proportionate

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S ICI INDIA LTD, KOLKATA

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

1 to section 2(19AA) of the Act and the transfer of the undertaking was on slump sale to another company, the same would have to be treated as slump sale of undertaking u/s 50B of the Act. It was pleaded that the shareholding of 49% by the assessee in the Joint Venture company to which the undertaking has been

M/S AKZO NOBEL INDIA LTD. (FORMERLY KNOWN AS ICI INDIA LTD.),KOLKATA vs. THE DCIT, CIRCLE - 10, KOLKATA, KOLKATA

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

1 to section 2(19AA) of the Act and the transfer of the undertaking was on slump sale to another company, the same would have to be treated as slump sale of undertaking u/s 50B of the Act. It was pleaded that the shareholding of 49% by the assessee in the Joint Venture company to which the undertaking has been

M/S. KANORIA CHEMICALS & INDUSTRIES LTD., ,KOLKATA vs. ADDITIONAL CIT, RANGE - 10, KOLKATA

Bench: Shri Sanjay Garg & Dr. M.L.Meenaआयकर अपील सं.य/ Assessment Year:2012-13 बनाम / M/S. Kanoria Chemicals & Addl. Cit, Range-10, Industries Ltd Kolkata V/S. C/O Salapuria Jajodia & P-7 Chowringhee Co. 7 Chittaranjan Square, Kolkata-700 Avenue, Kolkata-72. 069. Pan: Aabck1291K अपीलाथ" /Appellant ""यथ" /Respondent .. आयकर अपील सं.य/ Assessment Year:2012-13 बनाम / Dcit, Circle-10 M/S. Kanoria P-7 Chowringhee Square, Chemicals & Industries V/S. 3Rd Kolkata-700 069, Limited, Park Plaza, 7Th Fl., 71 Park Street, Floor. Kolkata-700 016. अपीलाथ" /Appellant ""यथ" /Respondent ..

disallowed the aforesaid interest/premium only on the ground that the assessee has not routed the said expenditure through P & L account. The Ld. Counsel in this respect has submitted that it has been held time and again that irrespective of the accounting entries, the allowability of the claim is to be examined as per provisions of the Income