SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed

23 taxmann.com (299) wherein it was\nheld that where the assessee held the property jointly with her husband in equal\nproportion, it cannot be said that she is the owner of the house property at the time of\nthe sale for availing the deduction u/s 54F of the Act. It is to be noted that w.e.f.\n01.04.2001, there

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

5 EMC Projects Pvt. Limited return filed by it. The ld. Assessing Officer however refused to take the same as a business income and assessed it as a house property income. The appeal to the ld. CIT(Appeals) brought relief to the assessee and income was assessed as a business income. 9. The Revenue took the issue before the Tribunal

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

23 Governing Authority Leasehold properties Freehold properties are may be subject to the subject to the jurisdiction and jurisdiction and regulations of the local regulations of the local housing or real estate land and property authorities. authorities. 24 Capital Investment Leasehold properties Purchasing a freehold may require less initial property requires a capital investment larger upfront capital compared to investment

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

THE SATURDAY CLUB LIMITED,KOLKATA vs. DCIT, CIRCLE - 8(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue for A

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

23 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited Respectfully following the above decision of the Hon’ble ITAT, The action of the AO in taxing the said income in question under the head "Income from House Property” is hereby confirmed. This ground of appeal of the assessee is hereby dismissed

DCIT,CIRCLE-8, KOLKATA, KOLKATA vs. M/S. THE SATURDAY CLUB LTD, KOLKATA

In the result, the appeals of the Revenue for A

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

23 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited Respectfully following the above decision of the Hon’ble ITAT, The action of the AO in taxing the said income in question under the head "Income from House Property” is hereby confirmed. This ground of appeal of the assessee is hereby dismissed

THE SATURDAY CLUB LIMITED,KOLKATA vs. DCIT, CIR-8(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue for A

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

23 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited Respectfully following the above decision of the Hon’ble ITAT, The action of the AO in taxing the said income in question under the head "Income from House Property” is hereby confirmed. This ground of appeal of the assessee is hereby dismissed

SMT. PRIYANKA GANGULY,KOLKATA vs. D.C.I.T.(IT)-CIRCLE-2(1), KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

section 234D of the Act. 5. Each one of the above grounds of appeal is without prejudice to the other. 6. The appellant craves leave to add to, amend, alter, vary, omit or substitute the aforesaid grounds of appeal or add a new ground or grounds of appeal at any time before or at the time of hearing

MANICK CHANDRA PAUL,KOLKATA vs. DCIT, CIRCLE - 8(1), KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Year: 2014-15

house on 03.10.2016 whereas the assessee sold the property on 09.12.2013. According to Ld. 6 Manick Chandra Paul, AY: 2014-15 AO, it meant that valuation was done after a lapse of three years from the transfer of property. Therefore, according to the Ld. CIT(A), the estimation of the cost of the property is not correct

BANI BROTO BANERJEE ,KOLKATA vs. CIT(A), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 520/Kol/2023 Assessment Year: 2014-2015 Bani Broto Banerjee,…………………..…………Appellant Sanskriti, Flat – 3A, 148, Rashbehari Avenue, Near Deshapriya Park, Kolkata-700029 [Pan:Abppb0424P] -Vs.- Commissioner Of Income Tax (Appeals),……Respondent Aayakar Bhawan Dakshin, 2, Gariahat Road (South), Kolkata-700031 Appearances By: Shri Akshay Ringasia, C.A., Appeared On Behalf Of The Assessee Smt. Ranu Bisws, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : September 24, 2024 Date Of Pronouncing The Order : November 18, 2024 O R D E R

section 142(1) were issued and served upon the assessee. On perusal of 2 Bani Broto Banerjee the record, it revealed to the ld. Assessing Officer that the assessee was holding 99% share of Rainey Park Limited. The Guest House/Hotel was being run by the assessee and ultimately on account of losses faced by him, he has sold the property

PARVESH SHARMA,KOLKATA vs. ITO, WARD 49(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 1388/Kol/2025 Assessment Year: 2018-2019 Parvesh Sharma,……………………………...……Appellant 106, B.T. Road, Rajbari, Bonhooghly, Kolkata-700108, West Bengal [Pan:Bmpps3173Q] -Vs.- Income Tax Officer,……………………………..Respondent Ward-49(1), Kolkata, Income Tax Office, Uttarapan Complex Ds-Iv, Kolkata-700054, W.B.

23, Kolkata-700059. On this property, the assessee claimed his ownership is 100% and taking loan from two entities that means Reliance Home Finance and ICICI Bank. The assessee also declared in his submission that the address of let out property is Flat No. 1B, 1st Floor, Block No. III, P.S. Magnum, Kavi Narul Islam Avenue, VIP Road, Kolkata

HIND CERAMICS PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 10(1), KOLKATQ

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle 10(1) Hind Ceramics Pvt. Ltd. Aaykar Bhawan Poorva, P-7, 147, Nilganj Road, Belghoria, Chowringhee Square, Vs. Kolkata-700056, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aaach7998D Assessee By : S/Shri Soumitra Choudhury & P. Sarkar, Ars Revenue By : Shri Madhumita Das, Dr Date Of Hearing: 15.10.2025 Date Of Pronouncement: 19.11.2025

section 43(5) but it is to be taxed as profit on sale of right as income of the assessee. Thus Ground No. 6 to 8 are dismissed.” 2.3. After hearing the rival contentions and perusing the materials available on record, we find that the assessee has shown the rental income under the head house property and claimed standard deduction

MAYURA MOHTA,MUMBAI vs. D.C.I.T., CIRCLE - 29,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-29 Mayura Mohta Aaykar Bhavan Dakshin, 2, Sumer Trinity Towers 202, Tower-I, New Prabhadevi Road, Gariahat Road (South), Vs. Prabha Devi, Mumbai-400 025 Kolkata-700031, West Bengal (Appellant) (Respondent) Pan No. Aevpm3232R Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Monalisha Pal Mukherjee, Dr Date Of Hearing: 16.12.2024 Date Of Pronouncement : 21.01.2025

23. Further Coordinate bench in Bastimal K jain V ITO [2016] 76 taxmann.com 368 (Mumbai) has also held that he assessee's claim of deduction under section 54 was to be reckoned from the date of handing over of the possession of the flat by the builder to the assessee i.e. 11-9-2009, and if one took that date

ALOK GHOSH ,KOLKATA vs. ITO,WD.28(4),KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2016-17

section 48(2) of the Act and so also proper deduction u/s 54 of the Act be allowed for investment in new house 2 Alok Ghosh, AYs: 2016-17 property. Hence it is prayed that arbitrary addition of Rs.13,23,960/- be directed to be deleted from the head of "Long Term Capital Gain" by making correct computation by allowing

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

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

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

23,114/- was the receipt from the members of the Appellant Association, which is not chargeable to tax on the ground of mutuality. 4. That the major part of the income/receipt by way of rent and interest are being the revenues coming from the permitted accumulations of past and, therefore, do not amount to trade, commerce and business