DCIT, CIRCLE - 6(1), KOLKATA, KOLKATA vs. M/S. INTEGRATED COAL MINING LIMITED, KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2010-11 Dcit, Circle-6(1), V/S. M/S Integrated Coal P-7, Chowringhee Mining Ltd., 6, Church Square, Kolkata-69 Lane, 1Ste Floor, Kolakta-700001 [Pan No.Aaaci 5584 L] .. अपीलाथ" /Appellant ""यथ"/Respondent Dr. P.K. Srihari, Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri Diparun Mukherjee, Aca & ""यथ" क" ओर से/By Respondent Shri Alolk Goenka, Aca 15-01-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement

disallowance made by the Assessing Officer under section 14A of the Act. Relevant pages of the order of the Hon'ble Tribunal for the assessment years 2008-09, 2009-10 and 2012-13 are placed at pages 75

ACIT, CIRCLE-3, KOLKATA, KOLKATA vs. M/S TATA METALICS LTD., KOLKATA

In the result, all the four appeals of the Revenue are dismissed, while all the four appeals of the assessee are treated as partly allowed as indicated above

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

disallowance under section 14A. 18. During the year under consideration, i.e. AY 2006-07, the assesese- company had received dividend income of Rs.34,75

BISWANATH HOSIERY MILLS LTD.,KOLKATA vs. ACIT, CIR. 4(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Rakesh Mishraassessment Year: 2017-18

disallowance of Rs. 15,00,000 under Section 14A, read with Rule 8D, specifically considering investments in preference shares of M/s Lux Industries Ltd., from which the appellant had earned an exempt dividend of Rs. 3,75

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

disallowed\nunder Rule 8D of the IT Rules and the disallowance has been made only\nunder clause (iii) of Rule 8D as per the formulae mentioned therein and\nthe same is not to be considered for the purpose of MAT and the\naddition, if any, made to the book profit on account of disallowance u/s\nPage 43\nITA

DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S TRADE APARTMENTS LIMITED, KOLKATA

In the result the appeal by the revenue is dismissed

Bench: Hon’Ble Sri S.S. Godara, Jm & Shri M.Balaganesh, Am] I.T.A No. 1813/Kol/2016 Assessment Year : 2009-10

75,525/ - is deleted. As regards interest expenses, the net interest expenditure after reducing interest income of Rs. 66,44,110/- claimed by the appellant amounts to Rs. 13,59,412/-. The appellant has disallowed this amount u/s 14A as a part of the total disallowance of Rs. 16,39,854/-. However, the AO made a 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

disallowance and the order dated June 30, 2016 was incorporated by the Assessing Officer in his assessment order dated July 28, 2016. 2.9 For the assessment year 2013-14, the Transfer Pricing Officer by his order dated October 28, 2016 again regarded the corporate guarantee as an international transaction and proposed an adjustment at the rate of 200 bps aggregating

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 and the order dated June 30, 2016 was incorporated by the Assessing Officer in his assessment order dated July 28, 2016. 2.9 For the assessment year 2013-14, the Transfer Pricing Officer by his order dated October 28, 2016 again regarded the corporate guarantee as an international transaction and proposed an adjustment at the rate of 200 bps aggregating

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

NEW INDIA RETAILING & INVESTMENT LIMITED ,KOLKATA vs. D.C.I.T.,CIRCLE-6(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Vice-

disallowance of Rs.14,75,743/- only under section 14A, a further disallowance of Rs.36,32,072/- was made by the Assessing

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.

section 35D amortization of expenses disallowance of Rs.1,12,60,000/- in the two impugned assessment years. We thus treat the former assessment year 2010-11 as the “lead” assessment year for adjudication of the instant issue. 9. A perusal of the case file suggests that the assessee’s audited accounts of the relevant financial year

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

75,123/- made by the A.O on\naccount of disallowance computed u/s 14A r.w. Section 8D(2) (ii) and to\nrestrict

M/S. C D EQUIFINANCE PVT. LTD.,KOLKATA vs. DCIT, CIR-7(1), KOLKATA, KOLKATA

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

section 115JB of the Act. Ground No. 1 to 8 of the assessee’s appeal are accordingly allowed. 7. The issue raised in ground no 9 of the assessee’s appeal relates to the addition of Rs. 75,75,430/- made by the A.O. and confirmed by the Ld. CIT(A) on account of expenditure disallowed

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

75,123/- made by the A.O on\naccount of disallowance computed u/s 14A r.w. Section 8D(2) (ii) and to\nrestrict

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

75,000/- representing forfeiture of share warrants was included by the assessee. The assessee also sought to disallow a sum of Rs. 1,37,12,550/- towards section

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

75,54,609/- respectively. The assessee had also earned dividend income of Rs. 67,00,090/- which was claimed to be exempt from tax. In computation of total income, a disallowance of Rs. 5,03,714/- was offered by the assessee on account of indirect expenses incurred in relation to the earning of exempt income as per Rule

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

75,54,609/- respectively. The assessee had also earned dividend income of Rs. 67,00,090/- which was claimed to be exempt from tax. In computation of total income, a disallowance of Rs. 5,03,714/- was offered by the assessee on account of indirect expenses incurred in relation to the earning of exempt income as per Rule

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