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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

65,000/- as dividend which has been claimed to be exempt as income u/s. 10(34) of the Income Tax Act. The assessee has not offered any disallowance u/s. 14A in respect of earning of exempt income. During the assessment proceedings, the assessee company was asked why disallowance u/s. 14A would not be made on expenditures incurred in respect

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

65,000/- as dividend which has been claimed to be exempt as income u/s. 10(34) of the Income Tax Act. The assessee has not offered any disallowance u/s. 14A in respect of earning of exempt income. During the assessment proceedings, the assessee company was asked why disallowance u/s. 14A would not be made on expenditures incurred in respect

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)

65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule

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)

65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule

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)

65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule

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)

65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest = 0.5% of Rs.812,10,87,625/- = 4,06,05,438/- .......3 Total Disallowance as per rule

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 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

KESORAM INDUSTRIES LTD.,KOLKATA vs. DCIT, CIR-5, KOLKATA, KOLKATA

In the result the revenue’s appeals for A

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

section 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

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 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

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 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

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 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

ACIT, CIRCLE-5, KOLKATA, KOLKATA vs. M/S KESORAM INDUSTRIES. LTD, KOLKATA

In the result the revenue’s appeals for A

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

section 14A to Rs. 10,00,000/-. Therefore, grounds raised by assessee’s appeal are partly allowed for statistical purposes. 13. Now we take up revenue’s appeal in ITA 1722/Kol/2012 preferred by the revenue. Ground No. 1 is against the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,65

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

disallowable under section 4O(a)(ii) or section 115-O of the Act.” 3. As the issues raised in these appeals are common and the facts are identical, therefore, as agreed by both the parties, they Page 7 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited

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

disallowable under section 4O(a)(ii) or section 115-O of the Act.” 3. As the issues raised in these appeals are common and the facts are identical, therefore, as agreed by both the parties, they Page 7 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited

ACIT, CIRCLE-34, KOLKATA, KOLKATA vs. M/S BANWARILALL PASARI, KOLKATA

In the result, the appeal of the revenue for A

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 Acit Cir 34..............................………………………...........................................................Appellant Aayakar Bhawan, Poorva, 7Th Floor, 110, Shantipally, Kolkata – 107. M/S. Banwarilall Pasari………………………………………………...............................Respondent 16, India Exchange Place, Kolkata – 1. [Pan: Aacfb 7611 A] Appearances By: Shri Arindam Bhattacharjee, Addl. Cit Appearing On Behalf Of The Revenue. Shri S. Jhajharia, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : February 15, 2018 Date Of Pronouncing The Order : March 14, 2018 Order

65,727/- and made a disallowance to that extent under section 14A. 16. The disallowance made by the A.O. under

ACIT, CIRCLE-34, KOLKATA, KOLKATA vs. M/S BANWARILALL PASARI, KOLKATA

In the result, the appeal of the revenue for A

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 Acit Cir 34..............................………………………...........................................................Appellant Aayakar Bhawan, Poorva, 7Th Floor, 110, Shantipally, Kolkata – 107. M/S. Banwarilall Pasari………………………………………………...............................Respondent 16, India Exchange Place, Kolkata – 1. [Pan: Aacfb 7611 A] Appearances By: Shri Arindam Bhattacharjee, Addl. Cit Appearing On Behalf Of The Revenue. Shri S. Jhajharia, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : February 15, 2018 Date Of Pronouncing The Order : March 14, 2018 Order

65,727/- and made a disallowance to that extent under section 14A. 16. The disallowance made by the A.O. under

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

65,000/- as dividend which has been claimed to be exempt as income u/s. 10(34) of the Income Tax Act. The assessee has not offered any disallowance u/s. 14A in respect of earning of exempt income. During the assessment proceedings, the assessee company was asked why disallowance u/s. 14A would not be made on expenditures incurred in respect

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

65,000/- as dividend which has been claimed to be exempt as income u/s. 10(34) of the Income Tax Act. The assessee has not offered any disallowance u/s. 14A in respect of earning of exempt income. During the assessment proceedings, the assessee company was asked why disallowance u/s. 14A would not be made on expenditures incurred in respect