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) ..

Section 14 of the Act enumerates five heads of income for the purpose of charge of income tax and computation of total income. These are: Salaries, Income from house property

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)

14) of the Act, to mean property of any kind held by an assessee. But, when it comes to transfer for the purpose of levy of income-tax u/s2(47)(v), of the Act, the handing over of possession coupled with performance of the conditions specified in section 53A of T.P. Act, 1882 will be more relevant, hence the assessee

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)

14) of the Act, to mean property of any kind held by an assessee. But, when it comes to transfer for the purpose of levy of income-tax u/s2(47)(v), of the Act, the handing over of possession coupled with performance of the conditions specified in section 53A of T.P. Act, 1882 will be more relevant, hence the assessee

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

14(XL) 35 of 1955, dated 11.4.1955. 8. For that on the facts and circumstances & legal position of the case, the Ld. CIT (A) ought not to have confirmed the addition of Rs.99, 10,000/-, being security deposit from tenant and advances against sale of lands, coming brought forward from earlier years in the hand of the appellant in current

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

section 23 of the Income Tax Act, 1961. 11 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 14. The assessee company had given a number of properties on rent in Kolkata, Mumbai and other places to M/s. KCT & Bros. Ltd., its sister concern. As noted by the A.O. during

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

section 23 of the Income Tax Act, 1961. 11 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 14. The assessee company had given a number of properties on rent in Kolkata, Mumbai and other places to M/s. KCT & Bros. Ltd., its sister concern. As noted by the A.O. during

DCIT, CIR-6(1), KOLKATA, KOLKATA vs. M/S INDIA CITY PROPERTIES LTD., KOLKATA

In the result, the revenue’s appeal for A

section 23 of the Income Tax Act, 1961. 11 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 14. The assessee company had given a number of properties on rent in Kolkata, Mumbai and other places to M/s. KCT & Bros. Ltd., its sister concern. As noted by the A.O. during

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

section 143(3) on 28.12.2016. He accepted the stand of the assessee that rental income is to be assessed as a house property income. The copy of this assessment order is available on pages no. 1 to 14

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) ..

section (1) so as to provide the said exemption will be available in a case where the assessee owns only one residential house, other than the new asset, on the date of transfer of the original asset and does not acquire within one year or constructs within three years any residential house other than new asset, the income from which

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]

property at VIP Road, Kolkata under the head ‘Long term Capital Gain’ instead of ‘Short Term Capital Gain’. 18. The second issue raised by the appellant in the matter of computation of capital gains is granting deduction for cost of improvement of Rs.14,50,000/- in the case of Smt. Sarbani Gupta. At the time of hearing before

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]

property at VIP Road, Kolkata under the head ‘Long term Capital Gain’ instead of ‘Short Term Capital Gain’. 18. The second issue raised by the appellant in the matter of computation of capital gains is granting deduction for cost of improvement of Rs.14,50,000/- in the case of Smt. Sarbani Gupta. At the time of hearing before

BIP DEVELOPERS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-2(1), KOLKATA, KOLKATA

In the result, all the appeals of the assessee as well as Revenue are partly allowed as indicated above

Bench: Shri P.M. Jagtap & Shri Satbeer Singh Godara

house property” in accordance with section 24 of the Act and also allow the claim of the assessee for business expenses under various heads after verifying the same in the light of the decision of the Hon’ble Calcutta High Court in the case of Ganga Properties Limited (supra). Grounds No. 2, 3 & 4 of the assessee’s appeal

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

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

house property'. The provisions of section 23(4) are meant only for properties that are held as investments and not as stock-in-trade. It is also found that the charging provisions of section 22 specifically gives exemption from determination of actual value of the property which is used for the purpose of any business or provision carried

MUKESH KUMAR AGARWAL,HOWRAH vs. PCIT-21, KOLKATA, KOLKATA

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

Bench: Shri N.V. Vasudevan, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.857/Kol/2017 (िनधा"रणवष" / Assessment Year: 2012-13 Mukesh Kr. Agarwal Vs. P.C.I.T – 21, Kolkata 169, A.J.C. Bose Road, 116/1, Girish Ghosh Road, Bamboo Villa, Kolkata – Liluah, Howrah-711204. 700014. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Adapa 7519D (Appellant) .. (Respondent) Appellantby :Shri A. K. Tibrewal, Fca Respondent By :Md. Usman, Cit, Dr सुनवाईकीतारीख/ Date Of Hearing : 17/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 18/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2012-13, Is Directed Against An Order Passed By The Ld. Commissioner Of Income Tax-21, Kolkata, Under Section 263 Of The Income Tax Act, 1961, ( Hereinafter Referred To As The ‘Act’), Dated 03.03.2017. 2. The Assessee Has Raised The Following Grounds Of Appeal: “1. That The Order Passed By Ld. Principal Commissioner Of Lncome Tax - 21, Kolkata Under Section 263 Of The Lncome Tax Act, 1961 Setting Aside The Assessment Order Dated 27Th March, 2015 Passed By The Lncome Tax Officer Under Section 143(3) Of The Lncome Tax Act, 1961 Is Without Jurisdiction, Against Law & Facts Of The Case & Therefore Illegal & Is Liable To Be Quashed.

House Property, there was no error in the assessment order passed under section 143(3) of the Act. Regarding the second issue relating to claim of interest, raised by CIT U/s 263, the Counsel submitted that the claim of interest was within the provisions of section 24 of the Act, because there is no limit for interest on borrowed Loans

DCIT,CIRCLE-8, KOLKATA, KOLKATA vs. M/S. THE SATURDAY CLUB LTD, KOLKATA

In the result, the appeals of the Revenue for A

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

property. The 14 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited return was selected for scrutiny through CASS and notice under section 143(2) was issued and served upon the assessee on 31.07.2012. The return was selected for scrutiny assessment and a notice under section 143(2) and questionnaire under section

THE SATURDAY CLUB LIMITED,KOLKATA vs. DCIT, CIR-8(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue for A

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

property. The 14 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited return was selected for scrutiny through CASS and notice under section 143(2) was issued and served upon the assessee on 31.07.2012. The return was selected for scrutiny assessment and a notice under section 143(2) and questionnaire under section

THE SATURDAY CLUB LIMITED,KOLKATA vs. DCIT, CIRCLE - 8(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue for A

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

property. The 14 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited return was selected for scrutiny through CASS and notice under section 143(2) was issued and served upon the assessee on 31.07.2012. The return was selected for scrutiny assessment and a notice under section 143(2) and questionnaire under section