SWARUP KUMAR ROY,SILIGURI vs. DCIT, CPC, BANGALORE

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

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

192/- being income from house property in schedule of house property of the return of income, which was not included in the total income of the appellant. He further observed that under section

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

In the result, the both appeals of the Revenue are dismissed

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

section 80-IB(10)(a) of the Act is "shall", but it would not necessarily mean that in every case, it shall be taken to be mandatory requirement instead would depend upon the intent of the Legislature and not the language in which the provision is clothed. The meaning and the intent of the Legislature would be gathered

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. M/S TAPASYA ENTERPRISES, KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

house property income. Ld. CIT(A) after considering the submission of assessee deleted the addition made by the AO by observing as under:- “… … it is seen that the real estate business is one of the dominant activities mentioned in the deed of partnership. It is also seen that the appellant has used its Vasant Vihar property of New Delhi

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. M/S TAPASYA ENTERPRISES, KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

house property income. Ld. CIT(A) after considering the submission of assessee deleted the addition made by the AO by observing as under:- “… … it is seen that the real estate business is one of the dominant activities mentioned in the deed of partnership. It is also seen that the appellant has used its Vasant Vihar property of New Delhi

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. M/S TAPASYA ENTERPRISES, KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

house property income. Ld. CIT(A) after considering the submission of assessee deleted the addition made by the AO by observing as under:- “… … it is seen that the real estate business is one of the dominant activities mentioned in the deed of partnership. It is also seen that the appellant has used its Vasant Vihar property of New Delhi

A.C.I.T CIR - 30,KOLKATA, KOLKATA vs. M/S TAPASYA ENTERPRISES, KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

house property income. Ld. CIT(A) after considering the submission of assessee deleted the addition made by the AO by observing as under:- “… … it is seen that the real estate business is one of the dominant activities mentioned in the deed of partnership. It is also seen that the appellant has used its Vasant Vihar property of New Delhi

DILIP LOYALKA,KOLKATA vs. A.C.I.T CIR - 1ASANSOL, ASANSOL

In the result, the appeal of assessee is partly allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

192. 28. The decisions are applicable in case there is a doubt. My discussion in the preceding paragraphs makes matter unambiguous on the eligibility of deduction under section 80QQB of Income Tax Act, 1961. In absence of doubts or ambiguity, the decisions are not applicable to the case”. Aggrieved, the assessee is in second appeal before the Tribunal

ACIT, CIRCLE-36, KOLKATA, KOLKATA vs. SMT. RESHMI P LOYALKA, KOLKATA

In the result, both the Cross Objection of the assessee and the appeal of the revenue are dismissed

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No.1763 /Kol/2016 Assessment Year : 2012-13

property, deed of plots of land, occupation certificate of constructed residential houses and copy of receipt of cess issued by District Town Planner, Cum- Member Secretary, Composition Committee, Gurgaon. The assessee also produced copy of bills raised by the supplier of building construction material, copy of bills raised by interior decorator, copy of acknowledgement of cheque/ draft receipt

DCIT, CIRCLE - 12(1), KOLKATA, KOLKATA vs. M/S. AMRI HOSPITALS LTD., KOLKATA

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Dr. Manish Borad & Sri Sonjoy Sarma

House Property. 7. That in the facts and circumstances of the case and in law, the Ld. CIT(A) is erred by not appreciating the facts that the assessee Page 3 of 22 I.T.A. No.: 977/Kol/2018 Assessment Year: 2014-15 AMRI Hospitals Ltd. company was required to provide additional services and facilities other than just its property given on rent

ACIT, CIRCLE - 2(1), , KOLKATA vs. TCG URBAN INFRASTRUCTURE HOLDINGS PVT LTD.,, KOLKATA

Accordingly, the same is dismissed

Bench: Shri Sanjay Garg & Dr. M.L.Meenaआयकर अपील सं.य/

property u/s 24 of the Act, and accordingly he disallowed the same. The Ld. A.O made further from heads of 'Preparation of Site plan' of Rs.10,000/­, 'Registration of Lease Deed' of Rs.30,500/­, 'Interest on TDS' of Rs.45,319/­, 'TDS written off' of Rs. 73,143/­, 'Travelling & Conveyance' of Rs.13,33,954/­ and 'Personal expenses' of Rs.56

ACIT, CIR-22, KOLKATA, KOLKATA vs. MRS SHEELA CHOPRA, KOLKATA

Bench: Shri Aby.T Varkey & Shri Waseem Ahmedassessment Year :2006-07 Acit, Circle-22, 169 V/S. Mrs. Sheela Chopra, A.J.C. Bose Road, 8Th R-604, The Residency, Floor, Kolkata-14 City Centre, Block Dc, Sector-1, Salt Lake City, Kolkata-700 064 [Pan No.Abwpc 6131 D] .. अपीलाथ" /Appellant ""यथ"/Respondent

Sections 54, 54F, Secs. 54 and 54F of the IT Act, 1961, provide that capital gains arising on transfer of a long term capital asset shall not be charged to tax to the extent specified therein, where the amount of capital gain is invested in a residential house. In the case of purchase of a house, the benefit is available

DCIT, CIRCLE - 6,, KOLKATA vs. LOKNATH SARAF SECURITIES LTD.,, KOLKATA

In the result, to sum up ITA No

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

house property' is a loss, in respect of the assessment years commencing on 1st day of April, 1995 and the 1st day of April, 1996, such loss shall be first set off under sub- sections (1) and (2) and thereafter the loss referred to in section 71A shall be set off in the relevant assessment year in accordance with

D.C.I.T.,CIRCLE-2(2), KOLKATA vs. M/S SHALIMAR WIRES INDUSTRIES LTD., KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2013-14

192 one finds that it imposes statutory obligation on the payer to deduct TAS when he pays any income "chargeable under the head salaries". Similarly, Section 195 imposes a statutory obligation on any person responsible for paying to a non-resident any sum "chargeable under the provisions of the Act", which expression, as stated above, do not find place

FRANCIS KLEIN & COMPANY PVT. LTD.,KOLKATA vs. CIT, KOLKATA-1, KOLKATA

In the result, assessee’s appeal stands dismissed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2009-10

house property income, business and professional income and income from other sources. Thereafter case was selected for scrutiny and notice u/s. 143(2) r.w.s.142(1) of the Act was issued to the assessee. The assessment was framed at Rs.5,61,26,967/- after making certain additions / disallowances. Thereafter Ld. CIT u/s. 263 of the Act opined that order passed

ACIT, CIRCLE -15(1),KOLKATA,KOLKATA vs. BALJIT SECURITIES PVT. LTD., KOLKATA

In the result, the appeal of revenue is partly allowed

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

192 (Kol) wherein it eas held that the activities covered in clause (a) to (e) of section 73 of the Act even though are not deemed as speculative business, however, these deemed businesses are distinct and separate from any other business. Thereafter, the Hon’ble High Court (supra) in similar circumstances observed that “now the question is whether the loss

M/S BALMER LAWRIES & CO. LTD.,KOLKATA vs. INCOME TAX OFFICER(IT) WD-1(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2012-13 M/S Balmer Lawrie & Co. V/S. Income Tax Officer Ltd., 21, N.S.Road, (International Taxation), Kolkata-700 001 Ward-1(1), Aayakar [Pan No. Aabcb 0984 E] Bhawan (Poorva), 2Nd Floor, R. No.215, 110, Shanti Pally, Kolkata- 700 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri M.K.Poddar, Sr-Advocate अपीलाथ" क" ओर से/By Appellant Shri C.P.Bhatia, Jcit-Dr ""यथ" क" ओर से/By Respondent 18-02-2016 सुनवाई क" तार"ख/Date Of Hearing 27-04-2016 घोषणा क" तार"ख/Date Of Pronouncement

192 one finds that it imposes statutory obligation on the payer to deduct TAS when he pays any income "chargeable under the head salaries". Similarly, section 195 imposes a statutory obligation on any person responsible for paying to a non- resident any sum "chargeable under the provisions of the Act", which expression, as stated above, do not find place

ACIT, CEN. CIR-VI, KOLKATA, KOLKATA vs. SMT. USHA AGARWAL, KOLKATA

In the result, the appeal of the revenue is partly allowed for statistical purposes and cross objection of the assessee is allowed for statistical purposes

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

section 132(4) of the Act at midnight. In normal circumstances, it was too much to give any credit to the statement recorded at such odd hours. The person would not be in a position to make any correct or conscious disclosure in a statement if such statement was recorded at such odd hours. The assessee had given proper explanation

ACIT, CIRCLE - 6(2), KOLKATA vs. M/S. NAGREEKA SYNTHETICS PVT. LTD., KOLKATA

In the result, the appeal of revenue is dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal]

House Property', 'Capital Gain' and 'Income from Other Sources' or not a company whose principal business is the business of banking or the granting of loans & advances. Hence, the purchase & sales of shares including trading in derivatives or derivative transactions is deemed to be carrying on speculation business in pursuance of Explanation to the section