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 is to be taken to be Nil as provided in section 23 (4)(a) read with section 23(2) of the Act.With regard to the ALV of the property

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

PADMALOCHANAN RADHAKRISHNAN,KOLKATA vs. A.C.I.T., CIRCLE - 62, KOLKATA, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 130/Kol/2023 Assessment Year: 2014-2015

sections 23 & 24 read as under:- 6 Assessment Year: 2014-2015 Padmalochanan Radhakrishnan “23. (1)……………………….. (2) Where the property consists of a house

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 23 of the Act. 'Owner of the house property' is defined in Section 27 of the Act which includes

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 only seeks to tax rent and/or income earned from letting out or allowing use of house property, building

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 only seeks to tax rent and/or income earned from letting out or allowing use of house property, building

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 only seeks to tax rent and/or income earned from letting out or allowing use of house property, building

ITO, WARD-36(1), KOLKATA, KOLKATA vs. SRI RAGHU NANDAN MODI, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

house property’ was deemed to be the sum for which the property might reasonably be expected to let from year to year. In many cases, however, the actual rent received or receivable in a year exceeds the municipal valuation of the property. Sub section (1) of section 23

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

sections 11 and 12 of the Income Tax Act of 1961. 22. In the light of above discussion, we are of the view that rental income declared by the assessee deserves to be assessed as an income from house property. The finding of the ld. Assessing Officer that such income is to be assessed as a business income is vacated

DILIP KUMAR CHOWDHARY ,HOWRAH vs. ACIT, CIRCLE - 46, KOLKATA

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

Bench: Sri J. Sudhakar Reddy] I.T.A. No. 2460/Kol/2018 Assessment Year: 2013-14 Dilip Kumar Chowdhary………….…………………………....………………..……………..……….….Appellant 545, G.T. Road (South) 6Th Floor Howrah – 711 101 [Pan : Acdpc 4418 P] Assistant Commissioner Of Income Tax, Circle-46, Kolkata……........................…...Respondent Appearances By: Shri S.S. Gupta, Fca, Appeared On Behalf Of The Assessee. Shri Sankar Haldar, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue.

house is actually let’. This also shows that the expression ‘property is let’ cannot mean actual letting out of the property because had it been so, there was be no need to use the word ‘actually’ in sub-section (3) of section 23

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

GAUTAM KUMAR MITRA,KOLKATA vs. DCIT, CIRCLE - 54, KOLKATA, KOLKATA

In the result, the appeal by the Assessee is allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 07/Kol/2012 Assessment Year : 2006-07

house property is to be made as per sections 23(b) & 23(c) which prescribe actual rent received or receivable

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]

house for claiming exemption u/s 54F, the assessee had purchased three storied building for Rs.47,60,000/-. Such purchase was completed on 28.07.2010. In the impugned order the AO referring to the provisions of Section 54F observed that the property was purchased beyond the prescribed period of two years and therefore denied the benefit claimed by the assessee

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]

house for claiming exemption u/s 54F, the assessee had purchased three storied building for Rs.47,60,000/-. Such purchase was completed on 28.07.2010. In the impugned order the AO referring to the provisions of Section 54F observed that the property was purchased beyond the prescribed period of two years and therefore denied the benefit claimed by the assessee

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given