I.T.O WD - 56(2),KOLKATA, KOLKATA vs. SALARPURIA SOFT ZONE, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

house property. In view of such facts, Ld. CIT, DR supported the orders of the lower authorities. 16. We have heard rival contentions and gone through facts and circumstances of the case. The above facts are undisputed in respect to cash flow statement filed by the assessee as well as availability of funds. We find that neither

I.T.O WD - 56(2),KOLKATA, KOLKATA vs. SALARPURIA SOFT ZONE, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

house property. In view of such facts, Ld. CIT, DR supported the orders of the lower authorities. 16. We have heard rival contentions and gone through facts and circumstances of the case. The above facts are undisputed in respect to cash flow statement filed by the assessee as well as availability of funds. We find that neither

M/S SALARPURIA SOFT ZONE,KOLKATA vs. J.C.I.T RG - 56,KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

house property. In view of such facts, Ld. CIT, DR supported the orders of the lower authorities. 16. We have heard rival contentions and gone through facts and circumstances of the case. The above facts are undisputed in respect to cash flow statement filed by the assessee as well as availability of funds. We find that neither

M/S SALARPURIA SOFT ZONE,KOLKATA vs. J.C.I.T RG - 56,KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

house property. In view of such facts, Ld. CIT, DR supported the orders of the lower authorities. 16. We have heard rival contentions and gone through facts and circumstances of the case. The above facts are undisputed in respect to cash flow statement filed by the assessee as well as availability of funds. We find that neither

SHALINI AGARWAL,KOLKATA vs. ITO, WARD-45(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed as indicated above

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

house property of the assessee was not completed within the prescribed period, was of the view that the deduction allowed under section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77

PARAKH KOTHI LIMITED,KOLKATA vs. ITO, WARD - 9(3), KOLKATA , KOLKATA

In the result the appeal of the assessee is dismissed

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am] Assessment Year : 2013-14

140/-was not allowed to be set off against the income under the head 'house property'. The appellant is the owner of the building named Parakh Kothi from which rental income is derived. There are number of tenants in the building. Apart from the rent, the assessee derived service charges from the tenants. The annual letable value has been shown

ACIT, CIRCLE-8(2), KOLKATA, KOLKATA vs. M/S OBEROI HOTELS PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

property, the assessee was not entitled to anything over and above the agreed rent. The said action of the AO has resulted in taxing notional income in the hands of the assessee, which never accrued and hence cannot be brought to tax. Accordingly, we are of the view that the CIT(A) has rightly deleted the addition and hence

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S MAA AMBA INFRASTRUCTURE (P) LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1309/Kol/2015 Assessment Year : 2012-13 Dcit, Circle-10(1), Kolkata -Vs- M/S Maa Amba Infrastructure (P) Ltd. [Pan: Aaecm 6507 F] (Appellant) (Respondent)

house property. The Hon’ble Supreme Court in the case of Raj Dadarkar supra had placed heavy reliance on the finding of aforesaid facts recorded by the tribunal. Whereas in the instant case before us, the ld CITA had categorically stated that the assessee had carried on an organized activity with a view to commercially exploit the civic infrastructure

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

house property which were sold during relevant year and STCG of Rs.3,16,04,127/- was declared. The stamp duty value of the properties was Rs.9,91,43,740/-, which for the purpose of section 48, shall be deemed to be the full value of the consideration received or accruing as a result of such transfer, as per section

MAMTA ANCHALIA,KOLKATA vs. DCIT, CIRCLE-32, KOLKATA, KOLKATA

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

140/-. In the said return, long term capital gain arising from the sale of silver utensils was shown by the assessee at Rs. 8,03,397/- and exemption u/s 54F was claimed on account of investment made in purchase of one residential house to the tune of Rs. 27,20,759/-. It was explained by the assessee in this

ASHOK VIKRAM PODDAR,KOLKATA vs. ACIT, CIRCLE -34, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

140/- from two concerns namely M/s Jain Housing Agency and M/s Vikash Builders. Besides the assessee has income from house property, capital gain and other sources. We note that the assessee has withdrawn Rs. 20.00 Lacs from its saving bank account with Allahabad Bank, Raipur and again redeposited Rs. 19.75 Lacs on various dates. The gap between the withdrawals

SRI SANJIV DUA,KOLKATA vs. ACIT, CIRCLE-36, KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

House Property. However, in this case, it is seen that the Municipal Value offered was for the point of purchase during 1994, almost sixteen years prior to the subject A.Y 2011-12. Neither the ld. A.O nor the Ld. AR have said anything in the matter, whether the Municipal Value had been revised since, a very possible requirement in determining

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

house expenses etc. were not considered in the profit and loss account of the power units. Thereafter, ld. AO proceeded to allocate such expenses to the power undertakings on an ad- hoc basis on a formula worked out by him. The ld. CIT(A) was persuaded by the arguments that all expenses considered for allocation here

ITO, WARD - 36(1), KOLKATA, KOLKATA vs. SHRI RAKESH AGARWAL, KOLKATA

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

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2008/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14)

140 ITR 151). It is not the duty of the Assessing Officer to locate the exact source of the cash credits (72 ITR 807 (SC). The burden to locate the source lies upon the assessee and he is required to explain the genuineness of the credit entry. However, in certain circumstances, this onus might shift on the Assessing Officer

KAMAL KANTI PATTANAYAK,PURBA MEDINIPUR vs. ACIT, CIRCLE-HALDIA, PURBA MEDINIPUR

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

Bench: Shri P.M. Jagtap

140/-. During the course of assessment proceedings, it was noticed by the Assessing Officer that the assessee has paid labour charges totalling to Rs.10,67,800/- to seven parties that exceeded Rs.50,000/-. According to the Assessing Officer, the assessee was liable to deduct tax at source from the said payments under section 194C of the Act and since there

SARITA BHOTIKA,KOLKATA vs. ITO, WARD - 7(2), KOLKATA , KOLKATA

Appeal is dismissed

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:2011-12

140 pages comprising of written submissions before the ITO, the CIT(A), purchased deed dated 17.02.1994, sale deed dated 10.05.2010, copies of inspection letter, mutation certificate and case law; stand perused. ITA No.115/Kol/2018 A.Y.2011-12 Sarita Bhotika Vs. ITO Wd-7(2), Kol. Page 2 2. It emerges during the course of hearing that the assessee’s pleadings her concise grounds

DCIT, CIR.-4(1), KOLKATA vs. M/S RAV DRAVYA PVT LTD , KOLKATA

In the result, appeal of the revenues is treated as partly allowed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Manish Borad, Hon’Blei.T.A. No. 103/Kol/2021 Assessment Year: 2012-13 Deputy Commissioner Of Income M/S. Rav Dravya Private Limited Tax, Circle-4(1), Kolkata Hastings Chambers, 2Nd Floor Vs 7/C, Kiran Shankar Roy Road Kolkata - 700001 Pan : Aabcr3154Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ravi Tulsiyan, Fca Revenue By : Md. Ghayasuddin, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 06/09/2022 घोषणा क" तारीख/Date Of Pronouncement : 09/11/2022 आदेश/O R D E R Per Shri Sanjay Garg: The Present Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals) - Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 13/03/2020, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act’), For Assessment Year 2012-13. 2. This Revenue’S Appeal Is Time Barred By 198 Days & The Petition Seeking Condonation Of Delay Has Been Filed Stating That The Delay In Filing Of This Appeal Was Attributable To The Restrictions Imposed Due To Covid-19 Pandemic. We Have Heard Both The Sides & Find That There Is Reasonable Cause For Delay In Filing Of The Appeal On Time. Hence We Condone The Delay & Admit The Appeal For Hearing.

house property", "Capital gains" and "Income from other sources"], or a company 8[the principal business of which is the business of trading in shares or banking] or the granting of loans and advances) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this section7, be deemed to be carrying

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

In the result, both the appeals of the assessee are allowed

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

house property of the assessee was not completed within the prescribed period, was of the view that the deduction allowed under section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

In the result, both the appeals of the assessee are allowed

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

house property of the assessee was not completed within the prescribed period, was of the view that the deduction allowed under section 54F was liable to be withdrawn in assessment year 2015-16 in which three years had expired from the date of transfer. He accordingly directed the Assessing Officer to tax the capital gains of Rs.77