D.C.I.T., CIRCLE-4, KOLKATA, KOLKATA vs. M/S KEVENTER AGRO LTD., KOLKATA

In the result, assessee’s appeal is allowed

Bench: Hon’Ble Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

section 14A read with rule 8D of the IT Rules, 1962 is to be made in relation to the income which does not form part of the total income ITA No.2768/Kol/2013 & 2576/Kol/2013 M/s. Keventer Agro Ltd. A.Y.2010-11 10 and this can be done only by taking into consideration the investment which has given rise to this income which does

ADARSH KANORIA,KOLKATA vs. ACIT, CIR.-4(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri Aby T. Varkey & Sri Manish Borad)

section 14A(1) and 14A(2) of the Income Tax Act, 1961. 3. That the appellant craves leave to add, alter, adduce or amend any ground(s) on or before the date of hearing of the appeal.” 3. On perusal of grounds, we find that the sole grievance raised is disallowance u/s 14A of the Act at Rs.1,66,690

M/S SHREENATH HOLDINGS PVT. LTD.,HOWRAH vs. I.T.O.,WARD-5(1), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy, Hon’Ble] I.T.A. No. 2390/Kol/2019 Assessment Year: 2012-13 M/S. Shreenath Holding Pvt. Ltd…………...……………....……..…………..………………....……Appellant 33/34, Ramlal Mukherjee Lane 2Nd Floor Room No. 2D Howrah - 711106 [Pan: Aadcs 5887 P] Vs. Income Tax Officer, Ward-5(1), Kolkata…………………………..............….....….…......Respondent Appearances By: Shri Sunil Surana, A/R, Appeared On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue Date Of Concluding The Hearing : February 24Th, 2020 Date Of Pronouncing The Order : February 26Th, 2020 O R D E R Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – 2, Kolkata, (Hereinafter The “Ld.Cit(A)”), Passed U/S. 250 Of The Income Tax Act, 1961 (The ‘Act’), Dt. 17/10/2019, For The Assessment Year 2012-13. 2. The Assessee Is A Company & Is Engaged In The Business Of Trading & Distribution Of Goods. It Filed Its Return Of Income On 16/08/2012 Declaring Total Income Of Rs.15,500/-. During The Year, The Assessee Raised Share Capital Including Premium Amounting To Rs.1,13,55,000/-. The Assessing Officer Conducted Enquiries & The Assessee Presented The Share Holders Including The Directors Of The Share Holding Companies Before The Assessing Officer. After Due Enquiry, The Assessing Officer Accepted The Explanations Of The Assessee That The Cash Credits In The Form Of Share Capital Were Genuine, Except In The Case Of M/S. Seacom Merchants, Which Had Applied For Shares. An Amount Of Rs. 20,00,000/- Pertaining To M/S. Seacom Merchants, Was Added.

690/- per share having face value of per share having face value of ₹10/- each as highly exorbitant. Case exorbitant. Case laws Sumati Dayal vs. CIT Sumati Dayal vs. CIT(1995) 214 ITR 801 (SC) and CIT vs. Durga Prasad SC) and CIT vs. Durga Prasad More (1971) 82 ITR 540 (SC) is further quoted during the cour

RAVI JALAN,KOLKATA vs. ITO, WARD - 36(1), KOLKATA , KOLKATA

In the result, Ground r.w

Disallowance was made u/s 14A of the Act r.w.r. 8D. An addition was also made on the ground that there was suppression of closing stock being gold. The Assessing Officer also made an addition on account of notional rent. 2 Assessment Year: 2012-13 M/s. Ravi Jalan 2.1. Aggrieved the assessee carried the matter in appeal. The ld Aggrieved

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S DALMIA SECURITIES PVT. LTD., KOLKATA

In the result, appeal filed by the Revenue on all the grounds are

Bench: Shri A.T.Varkey, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.325/Kol/2014 ("नधा"रण वष" /Assessment Year:2009-2010) Dcit, Circle-12 Vs. M/S Dalmia Securities Pvt. Ltd. P-7, Chowringhee Square, Ideal Plaza, 11/1, Sarat Bose Rd., Aayakar Bhawan, 7Th Floor, Kolkata-700020 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcd 1813 G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & Cross Objection No.22/Kol/2014 ("नधा"रण वष" /Assessment Year:2009-2010) M/S Dalmia Securities Pvt. Ltd. Vs. Dcit, Circle-12 Ideal Plaza, 11/1, Sarat Bose P-7, Chowringhee Square, Aayakar Bhawan, 7Th Floor, Rd.,Kolkata-700020 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcd 1813 G .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

690/- in Interest account in Assessment Year 2008-09 which stands accepted by Department. Since there is no change in facts of the case in Assessment Year 2008-09 and 2009-10 no disallowance of interest is tenable. Reliance is also placed on the decision of the Hon'ble Supreme Court in case of Radhasoami Satsang

MAHABIR PRASAD DHAKALIA,KOLKATA vs. ITO, WD-3(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri P.M. Jagtap

690) TOTAL Rs. 7,08,849/- As the above payments made by the assessee in cash were hit by the provision of section 40A(3), the assessee was called upon by the Assessing Officer to explain as to why the expenditure incurred by it on freight charges to the extent of Rs.7,08,849/- should not be disallowed

BISWANATH MONDAL,BURDWAN vs. ITO,WARD-2(2), ASANSOL, ASANSOL

In the result, the appeal of the Assessee is allowed

Bench: Shri P.M.Jagtap & Shri S.S.Viswanethra Ravi

section 40A(3) of the Act'61, is satisfied, and the disallowance sustained by the CIT(A) , on this count, may please be deleted. 3) For that on the facts of the case the appellant craves leave to add, alter, amend any further grounds of appeal before or at the time of hearing. 3. The assessee is an individual

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. M/S BELLS ADVERTISING SYNDICATES, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

section 40(a)(ia). The appellant in it written submission argued that the action of the Ld. A.O. in disallowing above sum of Rs.2,91,690

DCIT,CIR-11, KOLKATA vs. M/S CENTURY PLYBOARDS (INDIA) LTD., KOLKATA

In the result ITA No.2307/Kol/2013 is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am]

690/- 3 ITA Nos.2306&2307/Kol/2013 & CO.Nos.135/Kol/2013 M/s.Century Plyboards (India)Ltd. A.Yrs.2007-08 & 2008-09 Add : Disallowances/Additions as discussed above. 1. Balance with Central Excise Rs.75,32,196/- As discussed above 2.Disallowance of claim of Deduction u/s 80IC Rs.7,41,46,812/- 2. Disallowance u/s 14A Rs. 88,41,000/- Rs.9,05,20,008/- Total Income as Assessed Rs.25

M/S. BHUMI NIRMAN PVT. LTD.,KOLKATA vs. I.T.O., WARD - 10(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

690,786 2,60,42,292 Nil 8,691,135 Merlin Projects Ltd. 3,000,389 Nil Nil 3,000,389 Nil Megamall Management Nil 1,082,400 Nil 1,082,400 Nil Services Pvt. Ltd. 18,660,760 2,773,186 2,60,42,292 4,082,789 8,691,135 It can be seen from above that

DCIT, C.C.-3(4), KOLKATA vs. M/S TANISHQUE TRADE LINK PVT. LTD, HOWRAH

In the result, appeal of the revenue is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 17/Kol/2021 Assessment Year: 2008-09 Deputy Commissioner Of Income Tanishque Tradelink Pvt. Ltd. Tax, Central Circle-3(4), Kolkata Vs Bhabatarini Apartment G.T. Road, Room No. 602 Howrah - 711201 [Pan : Aacct7512R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, Fca Revenue By : Shri Biswanath Das, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 18/01/2023 घोषणा क" तारीख /Date Of Pronouncement: 16/03/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-6, Kolkata (Hereinafter The “Ld. Cit(A)”) Dated 24/09/2020, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Year 2008-09. 2. The Revenue Has Raised The Following Grounds Of Appeal:- “1. That On Facts & In The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law As Well As In Facts In Allowing The Bogus Share Capital Raised In The Books Of The Assessee Without Appreciating The Fact That The Assessee Failed To Discharge Its Primary Onus To Prove & Establish The Identity & Creditworthiness Of The Investor Companies & Genuineness Of The Transaction. 2. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law As Well As In Facts In Ignoring That The Identity & Creditworthiness Of The Shareholders & Even The Genuineness Of The Transactions Remained Unexplained. 3. That On Facts & In The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Not Invoking His Powers U/S. 250(4) Of The I.T. Act, 1961 In Directing The Assessing Officer To Make Further Enquiry & Report The Results Of The

disallowance to be made u/s. 14A even after giving a categorical finding that the assessee has not earned any exempt income whatsoever. 8th Page is merely computation of total income and tax payable thereof. From the above, it is clear that the AO has not carried out any of the Directions given in the order u/s. 263 and made additions

NINESTAR MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O.,WARD-3(3), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

690/- per share having face value of ₹10/- each as highly exorbitant. Case laws Sumati Dayal vs. CIT(1995) 214 ITR 801 (SC) and CIT vs. Durga Prasad More (1971) 82 ITR 540 (SC) is further quoted during the course of hearing that the relevant evidence submitted during the course of assessment has to be considered as per the human

SHALINI AGARWAL,KOLKATA vs. ITO, WARD-45(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed as indicated above

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

disallowance of assessee’s claim for deduction under section 54F as made by the Assessing Officer amounting to Rs.99,95,500/- , which is restricted by the ld. CIT(Appeals) to Rs.22,01,396/-. 3. The assessee in the present case is an individual, who filed her return of income for the year under consideration on 30.03.2014 declaring total income

DCIT, CIRCLE - 3(1), KOLKATA , KOLKATA vs. SHRI RAMESH PRASAD SAO, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

section 143(3) on 30.03.2016. He determined the taxable income of the assessee at Rs.341,73,20,958/-. Ld. Assessing Officer has made the following disallowances:- 1. Periphery Development Rs. 76,47,374/- Expenses 2. Disallowance of Consultancy Rs. 2,02,24,800/- Charges 3. Disallowance u/s 40A(3) Rs. 4,25,690

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

690/-. During the year under consideration, service charges of Rs. 32,61,829/- were earned by the assessee from the tenants and after claiming expenses against the same, net loss of Rs. 72,66,056/- was claimed by the assessee as business loss. According to the A.O., service charges received by the assessee were an integral part of rental income

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

690/-. During the year under consideration, service charges of Rs. 32,61,829/- were earned by the assessee from the tenants and after claiming expenses against the same, net loss of Rs. 72,66,056/- was claimed by the assessee as business loss. According to the A.O., service charges received by the assessee were an integral part of rental income

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

690/-. During the year under consideration, service charges of Rs. 32,61,829/- were earned by the assessee from the tenants and after claiming expenses against the same, net loss of Rs. 72,66,056/- was claimed by the assessee as business loss. According to the A.O., service charges received by the assessee were an integral part of rental income

ITO, WARD-2(3), DURGAPUR, KOLKATA vs. M/S HEIGHT INSURANCE SERVICES LTD., KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2011-12 Income Tax Officer, V/S. M/S Height Insurance Ward-2(3), R/No.10/21, Services Ltd., Room 7Th Floor, Aayakar No.319,3Rd Floor, Bhawan, P-7, Kamalaya Centre, 156A, Chowringhee Square, Lenin Sarani, Kolakta-13 Kolkata-69 [Pan No.Aacch 0943 G] .. अपीलाथ" /Appellant ""यथ"/Respondent Md. Usman, Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri A.K. Tibrewal, Fca ""यथ" क" ओर से/By Respondent 31-05-2018 सुनवाई क" तार"ख/Date Of Hearing 08-06-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Revenue’S Appeal For Assessment Year 2011-12 Arises Against Commissioner Of Income Tax (Appeals)-14, Kolkata’S Order Dated 31.08.2016 In Case No. 188/Cit(A)-14/Wd-1(1)/2015-16, In Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. 2. The Revenue’S Solitary Grievance Pleaded In The Instant Appeal Seeks To Revive Section 37 R.W 40(A)(Ia) Disallowances / Addition Of ₹66,18,00,000/- Pertaining To Assessee’S Service Charges Paid To M/S Golden Trust Financial Services (Gtfs) Hereafter For Having Acted As Its Agent. It’S Next Two Averments Are That The Cit(A) Has Erred In Law As Well As On Facts In Examining Assessee’S Exclusive Method Of Accounting In Service Tax Receivable On Output Services As Against Inclusive Method Of Service Tax

section 37 r.w 40(a)(ia) disallowances / addition of ₹66,18,00,000/- pertaining to assessee’s service charges paid to M/s Golden Trust Financial Services (GTFS) hereafter for having acted as its agent. It’s next two averments are that the CIT(A) has erred in law as well as on facts in examining assessee’s exclusive method