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

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)

section 115JB (MAT) are not applicable for the year in the case of assessee on the adjusted book profits as it is not a Company u/s 211 of Companies Act,1956 while in the case of assessee the Hon'ble Supreme Court [(1999) 240 ITR 355(SC(1999) 156 CTR 380(SC)] has held that balance sheet in accordance with

SHRI KAMAL KUMAR BANSAL,KOLKATA vs. ITO, WARD - 35(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey

house property” on account of disallowance of property tax. The penalty proceedings under section 271(1)(c) were also initiated by the Assessing Officer and since the explanation offered by the assessee in response to show-cause notice issued during the course of the said proceedings was not found acceptable by the Assessing Officer, he imposed a penalty of Rs.66

SATTAR ALI,KOLKATA vs. D.C.I.T.,CIRCLE-1, JALPAIGURI

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Vice-(Kz & Hz) & Shri A.T. Varkey

house property Penalty proceedings under section 271(1)(c) were also initiated by the Assessing Officer and since the explanation offered by the assessee in response to the show-cause notices issued during the course of said proceedings was not found acceptable by him, the Assessing Officer imposed a penalty of Rs.8,41,190/- under section

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

house property, (D).-Profits\nand gains of business or profession, (E).-Capital gains, (F).-Income\nfrom other sources.'\nAs per section 56 of the Act, 'Income' would be 'Income from other\nsources' as per the provision of Section 56, which reads as follows.\n'Section 56. Income from other sources\n'Income of every kind which

M/S JALAN CEMENT WORKS LTD,KOLKATA vs. C.I.T KOLKATA - I, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2008-09 M/S. Jalan Cement Works V/S. Cit, Kolkata-1 Ltd 2Nd Floor, Room No Aayakar Bhawan, 202, 81, Netji Subhas Road, P-7, Chowringhee Kolkata-700 001 Square, Kolkata- [Pan No.: Aaacj6788R] 700 069 .. अपीलाथ" /Appellant ""यथ"/Respondent

House property, capital gains and income from other sources. In the instant case the income of the assessee is mainly from long term capital gain, therefore it is out of the purview of the Explanation to Section 73 of the Act. Income here means the net income. In this connection we rely in the order of Hon’ble High Court

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

house property”, “Capital gains” or “Income from other sources”, or in section 199 or in sections 28 to 43B, the profits and gains of any business of insurance, including any such business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. carried on by a mutual insurance company

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

house property”, “Capital gains” or “Income from other sources”, or in section 199 or in sections 28 to 43B, the profits and gains of any business of insurance, including any such business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. carried on by a mutual insurance company

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

house property”, “Capital gains” or “Income from other sources”, or in section 199 or in sections 28 to 43B, the profits and gains of any business of insurance, including any such business ITA Nos.: 2803, 2804, 2805 & 2806/KOL/2025 AYs: 2018-19, 2022-23 & 2023-24 National Insurance Company Limited. carried on by a mutual insurance company

SRI RAMKRISHNA SAMITY,SILIGURI vs. D.C.I.T.CIR - 2,SILIGURI, SILIGURI

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

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

house property, interest income and donations received from various donors under the head income from other sources. This action was upheld by the Learned CITA for the same reason. Aggrieved, the assessee is in appeal for the Asst Years 2003-04 to 2008-09 before us. 4. The Learned AR argued that the donations received by the assessee have been

DULARI DEVI HETAMSARIA, LEGAL HEIR OF LATE SHYAM SUNDER HETAMSARIA,RANCHI vs. ACIT, CIRCLE - 3, ASANSOL, ASANSOL

In the result, the appeal of the assessee is allowed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1290/Kol/2018 ("नधा"रणवष" / Assessment Year:2008-09)

house building/show room (copy of the letter has already been sent). The DVO has sent the dossier of valuation report of the properties to this office The DVO has sent the dossier of valuation report of the properties to this office The DVO has sent the dossier of valuation report of the properties to this office vide File No. 20/EE/Val/Ranchi/IT/2010

D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S A.K.G FINVEST LTD, KOLKATA

In the result, appeal of revenue is dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

156 ITR 835) has supported this view. On perusal of P&L A/c., it is found that the assessee has paid interest of Rs.20.6 6lakhs. (iii) The purchase and sale of share is not an isolated incident in assessee's case. The assessee is engaged in purchase and sale of shares in regular course and that too in a bulk

ACIT,CIRCLE-10(2), KOLKAT, KOLKATA vs. M/S. STEWART & MACKERTICH WEALTH MANAGEMENT LTD., KOLKATA

In the result, the assessee`s ground No

Bench: Shri Partha Sarathi Choudhary, Jm & Dr. A. L. Saini, Am]

house property”, “Capital gains” and “Income from other sources”], or a company,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 section, be deemed to be carrying

STEWART AND MACKERTICH WEALTH MANAGEMENT LTD.,KOLKATA vs. THE DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, the assessee`s ground No

Bench: Shri Partha Sarathi Choudhary, Jm & Dr. A. L. Saini, Am]

house property”, “Capital gains” and “Income from other sources”], or a company,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 section, be deemed to be carrying

REENA MITRA,KOLKATA vs. I.T.O WD - 29(2),KOLKATA, KOLKATA

In the result, the appeal by the assessee is allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2006-07

house property, long term capital gain (LTCG), short term capital gain (STCG) and other sources”. During the year under consideration, assessee failed to disclose certain income in her return of income and for the same the AO has made the addition in the assessment order passed under section 143(3) of the Act. The detail of such income

M/S SAREGAMA INDIA LIMITED,KOLKATA vs. DCIT,CIR.-3(1), KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

156, 157 (Cal)] is distinguished because in that case the issue considered was royalty as a whole but in the instant case, it is, with respect to minimum guaranteed royalty without which the assessee cannot proceed to produce music/cassettes/CD etc. and this right cannot be withdrawn. c. The general royalty is related to expenses made after the production of specified

DCIT, CIR-3(1), KOLKATA, KOLKATA vs. M/S SAREGAMA INDIA LTD, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

156, 157 (Cal)] is distinguished because in that case the issue considered was royalty as a whole but in the instant case, it is, with respect to minimum guaranteed royalty without which the assessee cannot proceed to produce music/cassettes/CD etc. and this right cannot be withdrawn. c. The general royalty is related to expenses made after the production of specified

M/S SAREGAMA INDIA LIMITED,KOLKATA vs. DCIT,CIR.-3(1), KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

156, 157 (Cal)] is distinguished because in that case the issue considered was royalty as a whole but in the instant case, it is, with respect to minimum guaranteed royalty without which the assessee cannot proceed to produce music/cassettes/CD etc. and this right cannot be withdrawn. c. The general royalty is related to expenses made after the production of specified