RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either as capital assets or stock-in-trade/trading assets or both. Determination of the character

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either as capital assets or stock-in-trade/trading assets or both. Determination of the character

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

house property shall be\ndeposited in the Capital Gain Accounts in accordance with the\nprovisions of Capital Gain Accounts Scheme

THE PEERLESS GEN. FIN. & INV. CO. LTD.,KOLKATA vs. DCIT, CIRCLE-3(1), KOLKATA, KOLKATA

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

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

Property' which had treated as capital gains. Main business of assessee is NBFC and had also forayed into real estate. On 26.08.2011, an 'agreement for purchase was entered by contracting developer M/s City star Housing

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

gains was enhanced to ₹76,04,62,428/- by the Ld. AO while applying section 50C of the Act. e) The Ld. CIT(A) on one hand, held that the transfer took place in the AY 2009-10 as per the second supplementary agreement but also held that the cost should be taken at ₹1 Crore and the consideration should

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

gains was enhanced to ₹76,04,62,428/- by the Ld. AO while applying section 50C of the Act. e) The Ld. CIT(A) on one hand, held that the transfer took place in the AY 2009-10 as per the second supplementary agreement but also held that the cost should be taken at ₹1 Crore and the consideration should

SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed

house should\nbe used for acquisition of the new asset, Section 54(1) would not have allowed\nadjustment and/or exemption in respect of property purchased one year prior to the\ntransfer, which gave rise to the capital gain

M/S PYNE PROPERTIES PVT LTD,KOLKATA vs. I.T.O WD - 5(2),KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

House Property, Dividend and Long Term Capital Gain. The Long Term Capital Gain arose on the sale of its immovable

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

capital gains, which was assessable in AY 2015-16. The assessee contends that if the transfer is considered in AY 2013-14 then there is no discussion regarding the taxation of Rs. 90,00,000/- received in AY 2015-16 by the Ld. PCIT. The Ld. PCIT while setting aside the order of the Ld. AO has held in paras

JENNIFFER CHAKRAVARTY,SILIGURI vs. DCIT, CIR-3, SILIGURI, SILIGURI

In the result, the appeal filed by the Revenue (in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.400/Kol/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Dcit, Circle-1, Siliguri Vs. Smt. Jennifer Chakraborty St. Michael’S School, 2Nd Mile, Sevoke Road, Aayakar Bhawan, Paribahan Nagar, Matigra, Siliguri, Pin-734010. Siliguri "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acppc 9278 B (Revenue) .. (Assessee)

house property’. We note that the A.O further inferred that since excepting allotment money, all other installment payments were made within a period of 36 months, the properties in question must not be treated as long term capital assets’ and profit arisen out of said transactions could not be considered as ‘long term capital gains

DCIT, CIR-1, SILIGURI, SILIGURI vs. SMT JENNIFER CHAKRABORTY, SILIGURI

In the result, the appeal filed by the Revenue (in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.400/Kol/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Dcit, Circle-1, Siliguri Vs. Smt. Jennifer Chakraborty St. Michael’S School, 2Nd Mile, Sevoke Road, Aayakar Bhawan, Paribahan Nagar, Matigra, Siliguri, Pin-734010. Siliguri "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acppc 9278 B (Revenue) .. (Assessee)

house property’. We note that the A.O further inferred that since excepting allotment money, all other installment payments were made within a period of 36 months, the properties in question must not be treated as long term capital assets’ and profit arisen out of said transactions could not be considered as ‘long term capital gains

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

house property, which was also accepted in the assessment, meaning thereby that there was no deprecation claimed on the block of assets and also not found in the books of accounts and no deprecation was claimed or allowed in the assessments. The ld. AO computed the Long-Term Capital Gain

D.C.I.T.,CIRCLE-3(1), KOLKATA vs. SMT. SHIKHA ROY, KOLKATA

In the result, appeal of the revenue is dismissed

house property and long term capital gains from sale of tenancy rights, in addition to interest from fixed deposits. Her case

SHRI JAGDISH RAI KARNANI,KOLKATA vs. ITO, WARD 35(2), KOLKATA, KOLKATA

In the result, appeal was answered in favour of assessee

Bench: Hon’Ble Sri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No.594/Kol/2017 Assessment Year : 2012-13 Sri Jagdish Rai Karnani -Vs.- I.T.O., Ward-35(2) Kolkata Kolkata [Pan : Afapk 1013 Q] (Respondent) (Appellant) For The Appellant : Shri B.C.Jain, Fca For The Respondent : None Date Of Hearing : 15.06.2017. Date Of Pronouncement : 07.07.2017 Order

properties on the date of transfer ie. 29.6.2011 of long term capital asset, i.e Plot 33, Sector 39, Noida - i. Residential flat no. 1202 at Kausambi ii. Residential house at Plot No. 99, Sector 44, Noida and iii. Residential house at Plot 33, Sector 39, Noida, which was Transferred resulting in Long /Short Term Capital Gain

ACIT, CIRCLE-32, KOLKATA, KOLKATA vs. MRS. ISHITA MOHATTA, KOLKATA

In the result the Cross Objection, No

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Acit, Cir-32, Kolkata Vs. Mrs. Ishita Mohatta 10B, Middleton Row, 3Rd Floor, Kolkata – 24, Park Street, Magma House, 9Th Floor, Kolkata – 700 071. 700 016. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) .. & Co No.45/Kol/2018 (Assessment Year: 2013-14) Vs. Acit, Cir-32, Kolkata Mrs. Ishita Mohatta 24, Park Street, Magma House, 9Th 10B, Middleton Row, 3Rd Floor, Floor, Kolkata – 700 016. Kolkata – 700 071. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

gain shall arise from the transfer of any long-term capital asset, not being a residential house, defined as the original asset in section 54F(1) of the Act. Therefore, asset transferred can be any long-term capital asset like a plot of land, jewellery, commercial property

INCOME TAX OFFICER-WARD-23(3), KOLKATA, KOLKATA vs. SUDIP ROY, KOLKATA

In the result, Revenue’s appeal is allowed partly

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2007-08

house property was inherited by the assessee from her father was sold in asst. yr. 1993-94. The father of the assessee acquired the property in 1972 and therefore, the assessee opted for FMV of 1st April, 1981 to be the cost of acquisition. The assessee computed the indexed cost of acquisition with reference to the cost of inflation index

BANI BROTO BANERJEE ,KOLKATA vs. CIT(A), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 520/Kol/2023 Assessment Year: 2014-2015 Bani Broto Banerjee,…………………..…………Appellant Sanskriti, Flat – 3A, 148, Rashbehari Avenue, Near Deshapriya Park, Kolkata-700029 [Pan:Abppb0424P] -Vs.- Commissioner Of Income Tax (Appeals),……Respondent Aayakar Bhawan Dakshin, 2, Gariahat Road (South), Kolkata-700031 Appearances By: Shri Akshay Ringasia, C.A., Appeared On Behalf Of The Assessee Smt. Ranu Bisws, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : September 24, 2024 Date Of Pronouncing The Order : November 18, 2024 O R D E R

capital gains us 48 were altogether covered by different heads of income i.e., income from 'house property' and 'capital gains

UTSAV JAIN,KOLKATA vs. I.T.O, WD29(4), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2009-10 Utsav Jain V/S. Ito, Ward-29(4), 90C Alipur Road, Aaykar Bhawan, 2, Kolkata-700 027 Gariahat Road, [Pan No.Agrpj 4300 R] Kolkataa-700 068 .. अपीलाथ" /Appellant ""यथ"/Respondent

house within the prescribed period and neither the Assessing Officer nor the Ld. Commissioner of Income tax (Appeals) - XVI, Kolkata allowed this claim of the assessee as both of them treated the emanating gains to be "short term capital gain" and not "long term capital gains" 4) For that without prejudice to any other ground taken herein, the Ld. Commissioner