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

C of the Act i.e. ‘Income from House Property’. 33. We note that the Revenue’s case solely rests on the decision Hon’ble Delhi High Court in the case of Ansal Housing Finance and Leasing Co Ltd (supra) which has taken a view that ALV of unsold flats held by a builder is assessable as income from house property

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

Housing Project Pvt. Ltd. The said investment in Right to Property was a capital asset and was shown in the Audited Accounts as Investment in Right to Property' under the head 'Investments - Current and Non-current investments', refer Note II of the audited accounts. The investment in Right to Property was never considered as 'stock in trade' by the assessee

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) ..

C”, BENCH KOLKATA BEFORE 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) .. Appellant by : Shri A. K. Tibrewal, FCA Revenue

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

c) although Dr M Ghosh is a person covered under section 13(3)(d). 5.3 These facts have been examined by CCIT-Kol-III while according approval to the assessee under section 10(23C)(vi). This approval was granted after the report of DDIT(E), JDIIT(E) and DIT(E). This approval was granted before the AO completed the assessment

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

C’ BENCH, KOLKATA Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 1170/KOL/2024 Assessment Year: 2016-17 Zafar Iqbal (Appellant) Vs. DCIT, Circle-1, Siliguri (Respondent) PAN: AALPI6939F Appearances: Assessee represented by : Sujit Basu, Rajib Mukharjee, and Paramita Guha, Advocate. Department represented by : Dheeraj, Sr. DR. Date of concluding the hearing Date of pronouncing the order

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S COMMAND CONSTRUCTIONS PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 571/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Command Constructions Private Ltd. [Pan: Aaccc5075A ] (Appellant) (Respondent)

properties. The said firm subsequently obtained such loan/credit facilities to the extent ofRs.250 crores. 3.3. The said three companies transferred the said land to the said firm on January 9, 2006 at cost and such cost was the amount recorded in the books of account of the said firm for the year ended March 31, 2006 as the value

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

properties. The said firm subsequently obtained such loan/credit facilities to the extent ofRs.250 crores. 3.3. The said three companies transferred the said land to the said firm on January 9, 2006 at cost and such cost was the amount recorded in the books of account of the said firm for the year ended March 31, 2006 as the value

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

In the result, the appeal by the Revenue is dismissed”

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

properties. The said firm subsequently obtained such loan/credit facilities to the extent ofRs.250 crores. 3.3. The said three companies transferred the said land to the said firm on January 9, 2006 at cost and such cost was the amount recorded in the books of account of the said firm for the year ended March 31, 2006 as the value

ACIT, CIRCLE - 13(2), KOLKATA , KOLKATA vs. M/S. PADMA LOGISTICS & KHANIJ PRIVATE LIMITED , KOLKATA

In the result, the revenue’s appeal is partly allowed for statistical purposes

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

C” BENCH: KOLKATA (सम")Before "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/and "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM] I.T.A. No. 606/Kol/2018 Assessment Year: 2010-11 Assistant Commissioner of Income-tax, Vs. M/s. Padma Logistics & Khanij Pvt. Circle-13(2), Kolkata. Ltd. (PAN: AAECP2189C) Appellant Respondent Date

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)

House property in Singapore is not taxable in India under DTAA while as per Article 25 of DTAA, it is taxable in India. 3 M/s UCO Bank 10. That the appellant craves for leave to add, delete and/or modify any of the grounds of appeal before or at the time of hearing. 3. Ground Nos.1 & 2 relates to addition

E M C PROJECTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 7(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 1063/Kol/2024 Assessment Year: 2014-2015 Emc Projects Pvt. Limited,………………..………Appellant 2, Robinson Street, Shakespeare Sarani, Kolkata-700017 [Pan:Aaace7218F] -Vs.- Deputy Commissioner Of Income Tax,………Respondent Circle-7(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri S.K. Tulsiyan, Advocate, Appeared On Behalf Of The Assessee Shri Jitendra Kantilal Surti, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : August 12, 2024 Date Of Pronouncing The Order : August 20, 2024 O R D E R

3) on 28.03.2016. The ld. Assessing Officer has accepted the stand of the assessee that rental income is to be assessed as a house property income and not a business income. The copy of this assessment order has been placed at page no. 183 of the paper book. In A.Y. 2014-15, originally ld. Assessing Officer has accepted the stand

SUGAM REALTY LTD,KOLKATA vs. DCIT, KOLKATA

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

Bench: Sri Sanjay Garg & Dr. Manish Borad

3) The provisions of sub-section (2) shall not apply if— (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit therefrom is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than two houses

BOMBAY PLAZA PVT. LTD.,KOLKATA vs. ACIT, CIR-5, KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ]

section 27(iiib) of the Act does not arise at all. 6. Without prejudice to our above claim that the assessee is not assessable to 'Income from house property' as it is neither an owner nor a deemed owner, the Assessee further submitted that the Assessee was formed with the main objectives of carrying on the business of an investment

M/S INSTRUMENTARIUM CORPORATION LTD.,KOLKATA vs. DDIT (IT)-1(1), KOLKATA, KOLKATA

Bench: The Special Bench:

property. It follows that the Authority cannot pronounce any ruling on the applicability of sub-section (3) of section 92 of the Act. 14. In the light of the above discussion, the applicant has no option but to comply with the provisions of the Act including the legislation relating to transfer pricing, namely, sections

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]

13. In nutshell, the AO held that assessee had undertaken only one project, which comprised of construction of row houses as well as flats, and, that the two were not separate projects, as claimed by the assessee. Accordingly, the AO concluded that assessee had undertaken a singular project consisting of construction of 611 residential units (i.e. 295 row houses

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. DDIT, INTERNATIONAL TAXATION - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. ADIT (INTERNATIONAL TAXATION) - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

JKS INFRASTRUCTURE PVT. LTD.,KOLKATA vs. PR.CIT, CENTRAL - 1, KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1073/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

13,750/- and second addition of Rs. 38,38,484/- u/s 14A r.w. Rule 8D of the Rules. JKS Infrastructure Pvt. Ltd. Assessment Year:2011-12 Later on, Ld Principal Commissioner of Income Tax (PCIT) has exercised his jurisdiction under section 263 of the Act. The ld PCIT noticed that the A.O has allowed deduction for interest paid