D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S TEENLOK ADVISORY SERVICES PVT LTD, MUMBAI

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

Bench: Shri P.M. Jagtap & Shri N.V. Vasudevan

70,464/- made by the Assessing Officer by way of disallowance under section 14A of the Act read with Rule

LEBONG INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE-11, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

70 of the order pertains to the correctness of computation of disallowance and giving valid reasons for such computation. The crux of argument of AR is with reference to Section

DCIT, CIRCLE - 6,, KOLKATA vs. LOKNATH SARAF SECURITIES LTD.,, KOLKATA

In the result, to sum up ITA No

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

disallowed by him in the assessment completed under section 143(3) vide an order dated 13.12.2005. 6. Against the order passed by the Assessing Officer under section 143(3), an appeal was preferred by the assessee before the ld. CIT(Appeals) challenging, inter alia, the action of the Assessing Officer in I.T.A. No. 852/KOL./2008 Assessment year: 2003-2004 Assessment

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)

disallowance under section 14A of the Act. Reference was also made to the decision of the Income-Tax Appellate Tribunal (Chandigarh) in the case of Asst. CIT v. Spray Engineering Devices Ltd. [2013] l ITR (Trib)-OL 168 (Chandigarh); [2012] 53 SOT 70

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)

disallowance under section 14A of the Act. Reference was also made to the decision of the Income-Tax Appellate Tribunal (Chandigarh) in the case of Asst. CIT v. Spray Engineering Devices Ltd. [2013] l ITR (Trib)-OL 168 (Chandigarh); [2012] 53 SOT 70

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)

disallowance under section 14A of the Act. Reference was also made to the decision of the Income-Tax Appellate Tribunal (Chandigarh) in the case of Asst. CIT v. Spray Engineering Devices Ltd. [2013] l ITR (Trib)-OL 168 (Chandigarh); [2012] 53 SOT 70

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)

disallowance under section 14A of the Act. Reference was also made to the decision of the Income-Tax Appellate Tribunal (Chandigarh) in the case of Asst. CIT v. Spray Engineering Devices Ltd. [2013] l ITR (Trib)-OL 168 (Chandigarh); [2012] 53 SOT 70

DCIT, CC-1(3), KOLKATA vs. M/S RUNGTA MINES LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri J. Sudhakar Reddy, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./I.T.A No.2199/Kol/2019 ("नधा"रणवष" / Assessment Year: 2015-16) Acit, Cc-1(3), Kolkata Vs. M/S Rungta Mines Pvt. Ltd. 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr6463N (Appellant) .. (Respondent)

70,35,166/- by restricting provisions of rule 8D(2) (ii) limited to dividend yielding investment ignoring provisions of circular of CBDT No.5/2014 which clarifies that Rule 8D read with section 14A of the Act provides for disallowance

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

section 14A. 3.2 At the outset it is stated that the aforesaid issue is squarely covered in favour of the Appellant by the order of Tribunal in the Appellant’s own case for AY 2009-10. (Please refer to page no 27-28 of the Corporate Tax Case Law Compendium (‘CTCL’)). The Revenue filed an appeal before

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

section 14A. 3.2 At the outset it is stated that the aforesaid issue is squarely covered in favour of the Appellant by the order of Tribunal in the Appellant’s own case for AY 2009-10. (Please refer to page no 27-28 of the Corporate Tax Case Law Compendium (‘CTCL’)). The Revenue filed an appeal before

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

The appeal is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowance of Rs.77,70,880/- paid as professional fees to legal advisors on the alleged ground that the same are related to either acquisition of new unit or expansion of the existing undertaking and is to be governed by provisions of section

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

The appeal is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowance of Rs.77,70,880/- paid as professional fees to legal advisors on the alleged ground that the same are related to either acquisition of new unit or expansion of the existing undertaking and is to be governed by provisions of section

UNITED BANK OF INDIA,KOLKATA vs. ACIT, LTU - 1, KOLKATA, KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं/I.T.A No.75/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13) United Bank Of India Vs. Acit, Ltu-1, Kolkata. 16, Old Court House Street, Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacu5624P (Appellant) .. (Respondent) Appellant By : Shri Soumitra Choudhury, Advocate Respondent By : Shri Vijay Shankar, Cit सुनवाई क" तार"ख/ Date Of Hearing : 24/02/2020 घोषणा क" तार"ख/Date Of Pronouncement : 28/02/2020 आदेश / O R D E R Per Shri S. S. Godara: This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax - 23, Kolkata’S Order Dated 08.06.2017 Passed In Case No.06/Cit(A)-23/L.T.U-1/16-17 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Shri Soumitra Choudhury, Learned Authorized Representative For Assessee & Shri Vijay Shankar, Cit-Dr Appearing At The Revenue’S Behest. 2. The Assessee’S First Substantive Grievance Challenges Correctness Of Both The Lower Authorities’ Action Disallowing Club Entrance Fees Of Rs.97,794/- In The Course Of Assessment Affirmed In The Lower In The Lower Appellate Proceedings. The Assessee Herein Is Admittedly A Bank Which Claimed The Impugned Expenditure As An Allowable Deduction Under Revenue Head. The Assessing Officer’S Assessment Order Dated 25.02.2015 Held The Same To Be Capital Expenditure Than Revenue In Nature. The Cit(A) Has Confirmed The Impugned Disallowance.

disallowance of Rs.62,69,78,740/- made by the Assessing Officer and confirmed by the ld. CIT(Appeals) on account of assessee’s claim for deduction under section 36(1)(viii) of the Income Tax Act, 1961. 13. In the return of income filed for the year under consideration, a deduction of Rs.198.49 crores was claimed by the assessee under

M/S INTER STATE OIL CARRIER LTD.,KOLKATA vs. ITO, WD-8(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee for A

Bench: Shri P.M. Jagtap

section 14A by applying Rule 8D as under:- “(1) As per Rule 8D(2)(i): Assessee incurred Demat expenses amounting to Rs.19,867/- and expenses relating to shares amounting to Rs.77,753/- and debited the same in P&L A/c. Hence, disallowance under Rule 8D(2)(i) comes to Rs.97,620/- {Rs.19,867/- + Rs.77,753/-]. (ii)As per Rule

D.C.I.T.CC - XXVIII,KOL., KOLKATA vs. M/S BINANI INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

disallowing expenditure “incurred by the assessee in relation to the tax exempt income”. This proportion or portion of the tax exempt income surely cannot swallow the entire amount as has happened in this case”. In view of the aforesaid facts and circumstances and respectfully following the various judicial precedents relied upon hereinabove, we hold that the addition

TAPAN KUMAR DUTTA,KOLKATA vs. ITO, WARD 2(4), ASANSOL

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri P.M. Jagtap, Vice-

disallowance made by the Assessing Officer on account of truck hire charges under section 40(a)(ia) was challenged by the assessee in the appeal filed before the ld. CIT(Appeals) and the following submission was made on behalf of the assessee before the ld. CIT(Appeals) in support of the assessee’s case on this issue:- “Addition

TATA METALIKS LIMITED,KOLKATA vs. DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA

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

disallowed the claim of assessee and added to the total amount of subsidy received by it while calculating the tax under Minimum Alternate Tax (MAT) provision. 11. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The assessee before Ld. CIT(A) submitted that incentive was received by it on account of sales tax remission of ₹3,98,70

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

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

disallowed the claim of assessee and added to the total amount of subsidy received by it while calculating the tax under Minimum Alternate Tax (MAT) provision. 11. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The assessee before Ld. CIT(A) submitted that incentive was received by it on account of sales tax remission of ₹3,98,70