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]

1,90,76,680/- by invoking his power of enhancement is bad in law. 3. Facts in brief are that the assessee filed return of income on 17.09.2013 declaring total income at NIL. The assessee the Indian Chamber of Commerce (in short ICC) is an association of industrialist, being a company registered u/s 25 of Companies Act as non-profit

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

Bench: Shri S.S.Godara & Shri, M. Balaganesh

house / real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9(1

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

Bench: Shri S.S.Godara & Shri, M. Balaganesh

house / real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9(1

D.C.I.T.,CIRCLE-2(2), KOLKATA vs. M/S SHALIMAR WIRES INDUSTRIES LTD., KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2013-14

d)…..* (vii) income by way of fees for technical services payable by- (a) …………..* (b) a person who is a resident, except where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13

D i.e. ‘Profits & Gains of Business’ then only with reference to the vacant and unsold properties, which were neither given on rent nor the assessee had intention to let them out, the AO could not have computed deemed rental income u/s 22 & 23 and assessed it under Chapter IV-C of the Act i.e. ‘Income from House Property

PANCHI BIBI WAKF ESTATE,KOLKATA vs. DDIT (E)-II, KOLKATA, KOLKATA

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

section 11(4A) of the Act has to be considered in the context of difference between property held in favour of assessee-trust and profit arisen to assessee-trust out of business. This Sec. 11(4A) of the Act is not applicable in the instant case as the property is held in assessee-trust. The GA was always a part

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

d)** ** **" (vii) income by way of fees for technical services payable by- (a)** ** **" (b) a person who is a resident, except where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

d)** ** **" (vii) income by way of fees for technical services payable by- (a)** ** **" (b) a person who is a resident, except where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. ITO (INTERNATIONAL TAXATION) WARD, KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

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

d) To buy day to day assets for the new office. e) To identify banks and facilitate in opening accounts. f) To discuss, negotiate with the banks to start factoring of Invoices of the new office. g) To search and appoint an accounting firm for doing the accounting works of the new firm. h) Finalize the software required

D.C.I.T CIR - 6,KOLKATA., KOLKATA vs. M/S TURNER MORRISON LTD., KOLKATA

In the result, the appeal of the Revenue as well as assessee both are partly allowed as indicated above

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

D E R Per Shri P.M. Jagtap, A.M.: These two appeals, one filed by the Revenue being ITA No. 297/KOL/2013 and the other filed by the assessee being ITA No. I.T.A. No 297/KOL/2013 Assessment year: 2009-2010 & I.T.A. No. 161/KOL/2013 Assessment year: 2009-2010 Page 2 of 23 161/KOL/2013, are cross appeals, which are directed against the order

M/S CREDAI BENGAL,KOLKATA vs. CIT, (EXEMPTIONS), KOLKATA, KOLKATA

In the result, assessee’s appeal allowed

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Years:2011-12

D E R PER Waseem Ahmed, Accountant Member:- This appeal by the assessee is against the order passed by Commissioner of Income Tax (Exemption), Kolkata u/s 263 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 10.02.2016. Assessment was framed by JCIT, (Exemption), Kolkata u/s 143(3)/11 of the Act vide his order dated

I.T.O(E)-II, KOLKATA, KOLKATA vs. FUTURE EDUCATION RESCARCH TRUST., KOLKATA

In the result, assessee’s CO is dismissed as infructuous

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi & C.O.No.69/Kol/2013 (A/O Ita No.1031/Kol/2013) Assessment Year:2009-10

section 11 of the Act just on the basis of loan provided to the wife of the trustee without checking the utilization of the loan given by the assessee. The assessee before the ld. CIT(A) on merits submitted as under : a) The advance was given to Dr. M Ghosh to buy property at Alipore, Kolkata on behalf of trust

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) ..

11. The ld Counsel further submitted that section 54F of the Act provides for deduction in respect of capital gain arising from the transfer of any long-term capital asset, other than the residential house, defined as the Original Asset in Sec. 54F(1), if the net consideration arising from such transfer is invested in the purchase or construction

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

In the result, the both appeals of the Revenue are dismissed

Bench: Shri A. T. Varkey, Jm & Shri A.L.Saini, Am]

D Luxury zone consisting of 5 Phases of 11.454 residential housing towers for HIG category acres E Area comprised in common installations for 1.187 acres civic amenities TOTAL: 18.62 acres 4.10 From the site plan of the project it appeared that each of these zones were developed on demarcated lands. e.g. residential buildings, housing dwelling units for lower and middle

ITO, WARD-36(1), KOLKATA, KOLKATA vs. SRI RAGHU NANDAN MODI, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

D E R PER BENCH:- These two appeals by the Revenue and Cross Objection (CO) filed by the assessee are directed against the different orders of Commissioner of Income Tax (Appeals)-XX, Kolkata of even dated i.e. 10.09.2014. Assessments were framed by ITO Ward-36(1), Kolkata u/s 143(3)/147) of the ITA No.2186-87/Kol/2014 & CO 03-04/Kol/2015 A.Ys

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

housing or real estate land and property authorities. authorities. 24 Capital Investment Leasehold properties Purchasing a freehold may require less initial property requires a capital investment larger upfront capital compared to investment. purchasing a freehold property. 25 Flexibility Leasehold properties Freehold properties offer less flexibility as provide more flexibility the lessee is bound by as the owner has the terms

TARAKESWAR VIVEKANANDA PALLY SEVA KENDRA,HOOGHLY vs. ITO, WARD-24(3), HOOGHLY, KOLKATA

In the result the appeal of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am] Assessment Year : 2010-11

properties. Those expenses were incurred as part of its normal activities for which the society was formed. Therefore, the money spent by the assessee-society in constructing houses, reclaiming the land, for non- formal education, etc., had to be allowed as deduction in the computation of income. The grants received from foreign donor were for specific purposes. The grants which

FALCON VINCON PRIVATE LIMITED ,BENGALURU vs. PR.CIT-3, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Falcon Vincon Private Limited Vs. Pr. Cit-3, Kolkata 102, Tower No.12, Shriram Sameeksha, New Gangamma Gudi Police Station Road, Naidu Layout, Bengaluru "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcf3203C (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

D E R Per Dr. A. L. Saini, AM: The captioned appeal filed by the assessee, pertaining to Assessment Year 2014-15, is directed against the order passed by the ld. Principal Commissioner of Income Tax-3, Kolkata, dated 25.03.2019, u/s 263(3) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’). 2. The grounds of appeal