MAYURA MOHTA,MUMBAI vs. D.C.I.T., CIRCLE - 29,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-29 Mayura Mohta Aaykar Bhavan Dakshin, 2, Sumer Trinity Towers 202, Tower-I, New Prabhadevi Road, Gariahat Road (South), Vs. Prabha Devi, Mumbai-400 025 Kolkata-700031, West Bengal (Appellant) (Respondent) Pan No. Aevpm3232R Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Monalisha Pal Mukherjee, Dr Date Of Hearing: 16.12.2024 Date Of Pronouncement : 21.01.2025

disallowance of deduction u/s 54 amounting to Rs. 1,06,07,936/-made by AO is confirmed and these grounds are dismissed.” 05. After hearing the rival contentions and perusing the materials available on record, we find that assessee has sold his old property on 03.06.2016, whereas the agreement to purchase for the new property was rendered into

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

section 115JB of the Act was computed at ₹725,48,54,507/- vide order u/s 143(3) of the Act dated 29.03.2014. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who vide order dated 26.12.2017 had partly allowed the appeal of the assessee. Aggrieved with the order

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

disallowance under section 14A read\nwith Rule 8D is not required to be added to the Book Profit for the purpose\nof computation of income under section 115JB of the Act without\nappreciating that section 115JB clearly provides for including the\ndisallowance made u/s. 14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB

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

disallowance under section 14A read\nwith Rule 8D is not required to be added to the Book Profit for the purpose\nof computation of income under section 115JB of the Act without\nappreciating that section 115JB clearly provides for including the\ndisallowance made u/s. 14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB

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

In the result, the appeals filed by the assessee in ITA Nos

disallowance under section 14A read\nwith Rule 8D is not required to be added to the Book Profit for the purpose\nof computation of income under section 115JB of the Act without\nappreciating that section 115JB clearly provides for including the\ndisallowance made u/s. 14A read with Rule 8D for the purpose of\ncomputation of Book Profit u/s. 115JB

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

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

disallowance of Rs.37,14,38,000/- (Rs.53,54,98,000/- minus Rs.16,40,60,000/-) under section 14A read with

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

54,000/- for the investment in shares for the year\nended on 31.03.2012 which do not form the part of total income and claimed\nexempt under various clauses of section 10 of I. T. Act, 1961.\n25.3. It is pertinent to mention that always the quantum of Dividend shall\nnot represent the magnitude of the investment actually made

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

54,000/-for the investment in shares for the year\nended on 31.03.2012 which do not form the part of total income and claimed\nexempt under various clauses of section 10 of I. T. Act, 1961.\n25.3. It is pertinent to mention that always the quantum of Dividend shall\nnot represent the magnitude of the investment actually made

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

54,000/- for the investment in shares for the year\nended on 31.03.2012 which do not form the part of total income and claimed\nexempt under various clauses of section 10 of I. T. Act, 1961.\n25.3. It is pertinent to mention that always the quantum of Dividend shall\nnot represent the magnitude of the investment actually made

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

54,000/- for the investment in shares for the year\nended on 31.03.2012 which do not form the part of total income and claimed\nexempt under various clauses of section 10 of I. T. Act, 1961.\n25.3. It is pertinent to mention that always the quantum of Dividend shall\nnot represent the magnitude of the investment actually made

PRASHANT SHARMA,KOLKATA vs. ITO, WARD 22(2), KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

Section for deduction u/s 54GB of the Act though he is entitled to disallowance u/s 54 of the Act. We have

GSA SURGICAL & MEDICINES PVT. LTD. ,KOLKATA vs. ACIT,CIR-6(2), KOLKATA., KOLKATA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

disallowed u/s 36(1)(va) read with Section 2(24)(x) as it was deposited beyond the due date. The AO has further added Rs. 2,54

RAM NIRANJAN BANKA,KOLKATA vs. A.C.I.T., CIRCLE - 40,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Ram Niranjan Banka Acit, Circle-40 1, Surti Bagan Street, Jorasanko, 3, Govt. Place (West), Vs. Kolkata-700073, West Bengal Kolkata-700001, West Bengal (Respondent) (Appellant) Pan No. Aedpb5273P Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 14.08.2025 Date Of Pronouncement: 21.11.2025

Section 54 (1) (ii) of the Act for transfer within a period of three years of its purchase or construction which is totally unlawful and erroneous in view of the facts and circumstances of the case. We note that the construction of the building was completed on 30/11/2013 and the assessee got the possession of flats

SALT LAKE SERVICE STATION,KOLKATA vs. DCIT, 49(1),, KOLKATA

Appeal is partly allowed

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

disallowance under Section 40(a)(ia) of the Act (Rs. 54,000/-) and disallowance under Section 37(1) of 2 Salt