APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act, is applicable, since there is a common substantial shareholder between the two parties. 8. Aggrieved the assessee is now in appeal before this Tribunal. 9. The first common issue for our consideration is the disallowance

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act, is applicable, since there is a common substantial shareholder between the two parties. 8. Aggrieved the assessee is now in appeal before this Tribunal. 9. The first common issue for our consideration is the disallowance

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

section 2(22)(e) of the Act, is applicable, since there is a common substantial shareholder between the two parties. 8. Aggrieved the assessee is now in appeal before this Tribunal. 9. The first common issue for our consideration is the disallowance

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

2(15) Section 11(4), 11(4A), 13(8) and Circular No. 11 of 2008, alleged that the meetings, conferences and seminars held by the assessee were in the nature of business and the assessee has rendered services in relation to trade, commerce and business for a cess, fee or any other consideration and thus has earned profit from these

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

2(15) Section 11(4), 11(4A), 13(8) and Circular No. 11 of 2008, alleged that the meetings, conferences and seminars held by the assessee were in the nature of business and the assessee has rendered services in relation to trade, commerce and business for a cess, fee or any other consideration and thus has earned profit from these

THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

disallowed the claim of deduction under section 80P (2) (d) and held that the entire interest income of Rs. 2,59,49,002/-, was taxable as Income from Other Sources under section 56, as the assessee has failed to produce any evidence to show that it has incurred any expenditure wholly and exclusively to earn such interest income.” 3.3. During

ACIT, CIR-1(2), KOLKATA, KOLKATA vs. THE JUTE CORPORATION OF INDIA LTD.,, KOLKATA

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

disallowed the amount of Rs.11,71,051/- which was provided based on actuarial valuation allowable Under Section 37(1) of the Act. On careful consideration of the 8 The Jute Corporation of India Ltd. I T A N o . 2

THE JUTE CORPORATION OF INDIA LTD.,KOLKATA vs. DCIT CIR.-1, KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am Acit, Circle 1(2), Kolkata Vs. The Jute Corporation Of India Ltd. Ayakar Bhawan, P-7, Chowringhee Hudco Building, 15N, Nellie Square, R.No.14, 7Th Floor, Kolkata – Sengupta Sarani, Kolkata-700 700 069. 087. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabct 8820 B (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

disallowed the amount of Rs.11,71,051/- which was provided based on actuarial valuation allowable Under Section 37(1) of the Act. On careful consideration of the 8 The Jute Corporation of India Ltd. I T A N o . 2

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

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

section 14A of the I.T Act, 1961.” 2. Hon’ble President, ITAT nominated Shri G.D Agarwa, Hon’ble Vice President (AZ)KZ) as Third Member. The Hon’ble Third Member vide his order dated 27.05.2011 has concurred with the findings of ld. Accountant Member by observing as under:- “7. I have considered the submissions of both the parties and perused

ACIT, CIRCLE-10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

disallowances. 4. The ld AR filed additional ground of appeal before us as below:- “That the notice issued under section 143(2) of the Act dated 18 November 2004 is of no consequence for the matter under consideration and no notice at all was issued under section 143(2) of the Act after filing the return of income in response

ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

disallowances. 4. The ld AR filed additional ground of appeal before us as below:- “That the notice issued under section 143(2) of the Act dated 18 November 2004 is of no consequence for the matter under consideration and no notice at all was issued under section 143(2) of the Act after filing the return of income in response

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

8. As the issue involved in the year under consideration as well as all the material facts relevant thereto are similar to A.Y. 2012- 13, we respectfully follow the decision of the Tribunal for A.Y. 2012-13 and uphold the impugned order of the ld. CIT(Appeals) deleting the disallowance made by the Assessing Officer under section 14A read with

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

8. As the issue involved in the year under consideration as well as all the material facts relevant thereto are similar to A.Y. 2012-13, we respectfully follow the decision of the Tribunal for A.Y. 2012-13 and uphold the impugned order of the ld. CIT(Appeals) deleting the disallowance made by the Assessing Officer under section 14A read with

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

8. As the issue involved in the year under consideration as well as all the material facts relevant thereto are similar to A.Y. 2012-13, we respectfully follow the decision of the Tribunal for A.Y. 2012-13 and uphold the impugned order of the ld. CIT(Appeals) deleting the disallowance made by the Assessing Officer under section 14A read with

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

8 Section 14A(2) and (3) in the correct perspective. As we have already seen, while discussing the provisions of Sub-sections (2) and (3) of Section 14A, the condition precedent for the Assessing Officer to himself determine the amount of expenditure is that he must record his dissatisfaction with the correctness of the claim of expenditure made

ALLAHABAD BANK,KOLKATA vs. ADD.CIT,RANGE-6, KOLKATA, KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

8 D was to be upheld, there would have been no disallowance at all since not only that no investments were held by the assessee, admittedly there are no direct expenses are incurred on earning of the dividends and as such in all the ITA No.1199/Kol/2012 &1282/Kol/2012- Allahabad Bank A.Y.2008-09 three segments of disallowance under rule 8D(2

RAMPURIA INDUSTRIES & INVESTMENTS LTD., ,KOLKATA vs. PRINCIPAL CIT, CENTRAL - 1, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

Section 2(ac) of the SCRA is an inclusive definition and that any other item confirming to the given characteristics inclusive definition and that any other item confirming to the given characteristics inclusive definition and that any other item confirming to the given characteristics, will also qualify to be a derivative transaction. He relied on press release No. 297/2007

BIBHISANPUR SAMABAY KRISHI UNNAYAN SAMITY LTD.,KOLKATA vs. I.T.O., WARD - 27(4), HALDIA/ WBG-W-176(3), HALDIA

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

8 of 30 I.T.A. No.: 1021/KOL/2024 Assessment Year: 2020-21 Bibhisanpur Samabay Krishi Unnayan Samity Ltd. is sufficient to deny the claim of the respondent assessee for deduction under Section 80P(2)(d) of the Act." 4.3.6 Thus, the intention of Legislature is to keep the co-operative banks out of the scope of section 80P of the Income