BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

124 taxmann.com 74) (ITAT Bangalore) (v) M/s Kancast Pvt. Ltd. vs. ITO (55 taxmann.com 171) (ITAT Pune) (vi) Voltas Ltd. v. ITO (74 taxmann.com 99) (ITAT Mum) (vii) Shri Farid Gulmohammed vs. ITO (ITA No. 5136/Mum/2014) (ITAT Mum) (viii) ITO vs Yasin Moosa Godil (20 taxmann.com 424) (ITAT Ahmedabad) (ix) ACIT vs. Nadir Nazarali Dhanani (ITA No. 100/Mum/2013) (ITAT

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management (P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014 dated 11.02.2014 and made the disallowance under clause (iii) of Rule 8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-. 7.3 The Ld. CIT(A) deleted the addition

M/S. GATEWAY FINANCIAL SERVICES LTD., ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 68. If the Assessee is not able to provide a satisfactory explanation of the nature and source, of the investments made, it is open to the Revenue to hold that it is the income of the assessee, and there would be no further burden on the revenue to show that the income is from any particular source. Thereafter

PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 68. If the Assessee is not able to provide a satisfactory explanation of the nature and source, of the investments made, it is open to the Revenue to hold that it is the income of the assessee, and there would be no further burden on the revenue to show that the income is from any particular source. Thereafter

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 68. If the Assessee is not able to provide a satisfactory explanation of the nature and source, of the investments made, it is open to the Revenue to hold that it is the income of the assessee, and there would be no further burden on the revenue to show that the income is from any particular source. Thereafter

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 68. If the Assessee is not able to provide a satisfactory explanation of the nature and source, of the investments made, it is open to the Revenue to hold that it is the income of the assessee, and there would be no further burden on the revenue to show that the income is from any particular source. Thereafter

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

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management\n(P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014\ndated 11.02.2014 and made the disallowance under clause (iii) of Rule\n8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-.\n7.3 The Ld. CIT(A) deleted

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

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management\n(P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014\ndated 11.02.2014 and made the disallowance under clause (iii) of Rule\n8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-.\n7.3 The Ld. CIT(A) deleted

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management\n(P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014\ndated 11.02.2014 and made the disallowance under clause (iii) of Rule\n8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-.\n7.3 The Ld. CIT(A) deleted

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management\n(P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014\ndated 11.02.2014 and made the disallowance under clause (iii) of Rule\n8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-.\n7.3 The Ld. CIT(A) deleted

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

124 ТТJ 577 (Del)(SB) and ITO vs. Daga Capital Management\n(P) Ltd. 117 ITD 169 (SB) and also the CBDT Circular No. 5/2014\ndated 11.02.2014 and made the disallowance under clause (iii) of Rule\n8D of the IT Rules read with section 14A of the Act at ₹31,58,93,400/-.\n7.3 The Ld. CIT(A) deleted

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

124 ITR 40 (SC), it was held that expenses incurred in violation of law (or to defeat the law) cannot be allowed, even if motivated by the exigencies of business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. Having considered the statutory framework, regulatory prohibition, and Supreme Court principles

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

124 ITR 40 (SC), it was held that expenses incurred in violation of law (or to defeat the law) cannot be allowed, even if motivated by the exigencies of business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. Having considered the statutory framework, regulatory prohibition, and Supreme Court principles

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

124 ITR 40 (SC), it was held that expenses incurred in violation of law (or to defeat the law) cannot be allowed, even if motivated by the exigencies of business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. Having considered the statutory framework, regulatory prohibition, and Supreme Court principles

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. SOUTH CITY PROJECTS (KOLKATA) LIMITED, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

properties Pvt. Ltd. [“AAIPL”]. 3. Facts in brief are that, the assessee is a company engaged in the business of Real Estate Development and maintenance service of commercial area let out to various tenants. The assessee had filed return of income during the year declaring total income of Rs. 46,89,36,410/-. The case of the assessee was selected

RINA RAY,SILIGURI vs. ITO, WARD 3(2),, DARJEELING

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

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 2262/Kol/2025 Assessment Year: 2018-2019 Rina Ray,………….………………….………...……Appellant C/O. Amit Kumar Ray, St. Josoph School Road, Matigara, Siliguri-734010, West Bengal [Pan:Bhipr4602M] -Vs.- Income Tax Officer,…………………………..…..Respondent Ward-3(2), Darjeeling, 27/19, Ajc Bose Road, Near Lal Kuthi, P.O. & P.S. Darjeeling, Darjeeling-734101, West Bengal Appearances By: Shri Sujit Basu, Advocate & Shri Rajib Mukherjee, Advocate, Appeared On Behalf Of The Assessee Shri Kallol Mistry, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: December 09, 2025 Date Of Pronouncing The Order: December 31, 2025 O R D E R

house measuring 1000 Sqft., before his death in the year 1978 leaving his legal heirs, his wife and his two daughters, Smt. Rina Ray (Appellant), and Smt. Sampa Ghosh. The appellant and her sister became the owners in possession having equal share in the aforesaid properties of their late father on demise of their mother. The appellant and her sister

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S BIRLA CORPORATION LTD., KOLKATA

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

property, goods or service has been acquired under similar market conditions. It is also settled that choice of tested party is of lesser significance for the purpose of application of CUP method but instead key factor in application of CUP is product comparability and similar market conditions. Further the CUP method can be classified into two categories i.e. internal