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) ..

4 of the Act is the charging Section as per which the total income of an assessee, subject to statutory exemptions, is chargeable to tax. 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, Profits and gains of business

M/S ADHUNIK INFRASTRUCTURE PVT. LTD.,KOLKATA vs. JCIT, RG-10, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No.1281 /Kol/2015 Assessment Year : 2010-11

housing or other activities being an integral part of the highway project; The issue has been examined by the Board. It has been decided that widening of an existing road by constructing additional lanes as a part of a highway project by an undertaking would be regarded as a new infrastructure facility for the purpose of section 80-IA(4

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

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 for A.Y. 2008-09 are thus

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

In the result, the revenue’s appeal for A

19 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 23. The learned counsel for the assessee, on the other hand supported the impugned order of the Ld. CIT(A) giving relief to the assessee on this issue and submitted that the decision of Hon’ble Kolkata High Court

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

In the result, the revenue’s appeal for A

19 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 23. The learned counsel for the assessee, on the other hand supported the impugned order of the Ld. CIT(A) giving relief to the assessee on this issue and submitted that the decision of Hon’ble Kolkata High Court

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

In the result, the revenue’s appeal for A

19 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s. Indian City Properties Ltd.. 23. The learned counsel for the assessee, on the other hand supported the impugned order of the Ld. CIT(A) giving relief to the assessee on this issue and submitted that the decision of Hon’ble Kolkata High Court

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

4,25,000 as and by way of security free advance from three occupants. Hence, the entire cost of the property let out to those occupiers has already been recovered as and by way of interest-free advance by the assessee. Hence, it cannot be said that the assessee is exploiting the property for its commercial business activities and such

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]

19,177/- was added to assessee’s income. Aggrieved, assessee preferred an appeal before the Ld. CIT(A), who restricted the deduction u/s. 54 of the Act to the extent of Rs.16,97,479/- (Rs.13,61,727/- + Rs.3,35,752/-) out of the total claim of Rs.35,80,905/- by observing as under: “I have perused the assessment order

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 & CO No.45/Kol/2018 Mrs. Ishita Mohatta Assessment Year: 2013-14 (ii) Purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset; or (iii) Constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original

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

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]

19 Taxmann.com 270 (Guj.) also held that , once Industrial Park was approved by Ministry of Commerce & Industry, CBDT has to suo motto issue notification and if there is delay on the part of the CBDT in issuing notification, it would not warrant assessee being denied benefit of deduction u/s. 80IA(4)(iii) of the Act. Hon’ble High Court finally

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]

19 Taxmann.com 270 (Guj.) also held that , once Industrial Park was approved by Ministry of Commerce & Industry, CBDT has to suo motto issue notification and if there is delay on the part of the CBDT in issuing notification, it would not warrant assessee being denied benefit of deduction u/s. 80IA(4)(iii) of the Act. Hon’ble High Court finally

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]

19 Taxmann.com 270 (Guj.) also held that , once Industrial Park was approved by Ministry of Commerce & Industry, CBDT has to suo motto issue notification and if there is delay on the part of the CBDT in issuing notification, it would not warrant assessee being denied benefit of deduction u/s. 80IA(4)(iii) of the Act. Hon’ble High Court finally

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]

19 Taxmann.com 270 (Guj.) also held that , once Industrial Park was approved by Ministry of Commerce & Industry, CBDT has to suo motto issue notification and if there is delay on the part of the CBDT in issuing notification, it would not warrant assessee being denied benefit of deduction u/s. 80IA(4)(iii) of the Act. Hon’ble High Court finally

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

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

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

houses of the managing director and other directors. In such a case, when the managing director or any other persons were found to be not in possession of any incriminating material, the question of examining them by the authorised officer during the course of search and recording any statement from them by invoking the powers under section 132(4

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

houses of the managing director and other directors. In such a case, when the managing director or any other persons were found to be not in possession of any incriminating material, the question of examining them by the authorised officer during the course of search and recording any statement from them by invoking the powers under section 132(4