ACIT, CIR-I, SILIGURI, SILIGURI vs. MRS HARMEET KAUR, SILIGURI

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

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1482/Kol/2014 Assessment Year : 2011-12 A.C.I.T., Cir-1, -Vs- Mrs. Harmeet Kaur Siliguri (Pan : Afupk 9262 M] (Respondent) (Appellant) For The Appellant : G. Mallikarjuna, Cit, Dr For The Respondent : Shri Subhash Agarwal, Advocate Date Of Hearing : 25.05.2017. Date Of Pronouncement : 24.07.2017 Order

property and claimed deduction u/s 54F of the Act. We find that the provisions of section 54F of the Act are as below:- Section 54F – Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house (1) Subject to the provisions of sub-section (4), where, in the case of an assessee

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

139(1) of the Act. The Ld. AO was also of the view that the amount paid to the occupants of the new house property for vacating the same did not constitute the cost of acquisition and was not allowable u/s 54F of the Act, apart from the fact that the new house property purchased was in ruins and decaying

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]

139(5) of the Act within the stipulated time frame as per statute. And as such, this contention of the AO is incorrect in law. 13 Padma Logistics & Khanij Pvt. Ltd.., AY 2010-11 23. The other reason given by the AO to reject the revised ROI was that both the demerging company and the resultant company have claimed

D.C.I.T CIR - 6,KOLKATA, KOLKATA vs. M/S KILBURN ENGINEERING LTD, KOLKATA

In the result, appeal by the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2009-10

Housing Development and Infrastructure Ltd.(HDIL), under two agreements dt. 08.11.2007 & dt. 30.01.2009 for a consideration of Rs. 115 Crores. The sale consideration was payable by HDIL in instalments. There is no dispute that Long Term capital gain (LTCG) of Rs.81,57,21,820 resulted on account of sale of the property at Bhandhup and the transfer of the capital

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) ..

4. The facts of the case which can be stated quite shortly are as follows. The original return of income, under section 139(1) of the Act, was filed by the assessee on 24.07.2013 declaring total income of Rs. 40,87,835/-. During the assessment year under consideration, the assessee earned income from Salary, House Property

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

property right, exterior design or practical and new design or any other business or commercial rights of similar nature; (c) capital financing, including any type of long-term or short-term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other 99debt arising during the course

M/S. KALYAN EDUCATIONAL SOCIETY,BUDBUD, BURDWAN (EAST) vs. A.C.I.T., CIRCLE - 2, DURGAPUR, DURGAPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No. 106/Kol/2023 Assessment Year: 2020-2021 M/S. Kalyan Educational Society,..............Appellant Budbud Bye Pass (North), Distg. Bardhaman-713403 [Pan: Aabtk2860K] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-2, Durgapur, Aayakar Bhawan, Durgapur, West Bengal Appearances By: Shri S.K. Tulsiyan, Advocate, Smt. Puja Somani, C.A., Appeared On Behalf Of The Assessee Shri Subhrajyoti Bhattacharjee, Cit (Dr), Appeared On Behalf Of The Revenue

property has to be computed oncommercial principles by virtue of Circular No. 5-P(LXX-6) of 1968, dated 19-6-1968. (5) That on the facts and circumstances of the case, the delayin filing the return of income and Form 10B was due to firebreakout in the office of the society where records werekept and outbreak of the pandemic

SMT SARBANI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

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

4 of 1882)” 14. On careful perusal of Section 2(47)(v) of the Act, it is apparent that an agreement referred to in Section 53A of the Transfer of Property Act, 1882 is roped into Section 2(47)(v) of the Act. It is therefore pertinent to refer to Section 53A of the Transfer of Property

SMT SAKI GUPTA,KOLKATA vs. ACIT, CIR-49, KOLKATA, KOLKATA

In the result, the appeal of both the assessee’s are partly allowed

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

4 of 1882)” 14. On careful perusal of Section 2(47)(v) of the Act, it is apparent that an agreement referred to in Section 53A of the Transfer of Property Act, 1882 is roped into Section 2(47)(v) of the Act. It is therefore pertinent to refer to Section 53A of the Transfer of Property

SRI PRADEEP SINGH GURUNG,SILIGURI vs. DCIT, CIRCLE-3, SILIGURI, SILIGURI

In the result, appeal of assessee is allowed

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

property was made within time frame stipulated u/s 54(1) of the Act and only the matter was related to source of fund invested under this section. In CIT v. J.R. Subramanya Bhat (1987) 165 ITR 571 (Karn), it was held that date of commencement of construction of new building is immaterial for being eligible for deduction

DCIT,CC-1(3),KOLKATA, KOLKATA vs. SAMRIDDHI METALS PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT, CC-1(3), KOLKATA, KOLKATA vs. SUMANGAL DEALMARK PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT,CC-1(3),KOLKATA, KOLKATA vs. SUMANGAL DEALMARK PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT, CC-1(3), KOLKATA vs. PRAFUL ENTERPRISES PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT,CC-1(3),KOLKATA, KOLKATA vs. SUMANGAL DEALMARK PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT, CC-1(3), KOLKATA, KOLKATA vs. SAMRIDDHI METALS PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT,CC-1(3),KOLKATA, KOLKATA vs. SUMANGAL DEALMARK PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT, CC-1(3), KOLKATA, KOLKATA vs. DISHA REALCON PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation

DCIT, CC-1(3), KOLKATA, KOLKATA vs. SUMANGAL DEALMARK PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

139(1) for AYrs. 2014-15 to AYrs. 2020-21. Besides, explanation for all the seized documents and data contained on hard disk and pen drive have also been furnished during the assessment proceedings. After considering all these explanations, additional income worked out by M/s. S.M. Niryat Pvt. Ltd. has been accepted. This implies that the information regarding cash generation