OBEROI HOTELS PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE -8, KOLKATA, KOLKATA

In the result, assessee’s appeals in ITA Nos

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

269/- and de mat charges at Rs.6,85,115/- under the provisions of section 14A of the Act read with Rule 8D of the Rules being expenses relatable to earning of exempted income. The assessee has earned total exempt income at Rs.14,96,64,407/- and disallowance was made by invoking the provisions of section 14A read with Rule

DCIT, CIRCLE -8, KOLKATA, KOLKATA vs. M/S. OBEROI HOTELS PVT. LTD., KOLKATA

In the result, assessee’s appeals in ITA Nos

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

269/- and de mat charges at Rs.6,85,115/- under the provisions of section 14A of the Act read with Rule 8D of the Rules being expenses relatable to earning of exempted income. The assessee has earned total exempt income at Rs.14,96,64,407/- and disallowance was made by invoking the provisions of section 14A read with Rule

JCIT(OSD), CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. OBEROI HOTELS PVT. LTD., KOLKATA

In the result, assessee’s appeals in ITA Nos

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

269/- and de mat charges at Rs.6,85,115/- under the provisions of section 14A of the Act read with Rule 8D of the Rules being expenses relatable to earning of exempted income. The assessee has earned total exempt income at Rs.14,96,64,407/- and disallowance was made by invoking the provisions of section 14A read with Rule

NARAYAN SUPPLIERS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 6(3), KOLKATA, KOLKATA

In the result, appeal of the assessee is dismissed

Properties Pvt. Ltd. v. ITO ITA NO. 5128/M/2015\ndated 22/04/2016 (A.Y. 2006-07)(Delhi)(Trib).\n25.\nIn ITA No.692/2016 (Principal Commissioner of Income Tax-6\nv. Meenakshi Overseas Pvt. Ltd.), this Court discussed the legal\nposition regarding re-opening of assessments where the return\nfiled at the initial stage was processed under Section 143(1) of\nthe

ACIT, CIR-33, KOLKATA, KOLKATA vs. M/S ASHIANA AMAR DEVELOPERS, KOLKATA

In the result, the appeal of the revenue is dismissed

269 Bangalore Bench of ITAT has observed in respect of claim under section 80IB under similar circumstances under:- Even though the projects of the assessee are bigger ones consisting of independent units, the assessee had claimed the benefit under section 80IB only in respect of blocks ‘A’ and ‘C’ namely ‘Mayflower’ and ‘Cassia’. In respect of other units viz. Magnolia

SHRI UDIT AGARWAL,KOLKATA vs. DCIT(IT)-2(1), KOLKATA, KOLKATA

Appeal is allowed accordingly

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2014-15 Shri Udit Agarwal V/S. Dcit (It)-2(1), 110, 3, Madan Mohan Burman Shanti Pally, Kolkata- Street, Kolkataa-007 107 [Pan No.Ahupa 0424 B] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal, Advocate अपीलाथ" क" ओर से/By Appellant Shri Robin Choudhury, Addl. Cit-Dr ""यथ" क" ओर से/By Respondent 03-12-2018 सुनवाई क" तार"ख/Date Of Hearing 26-12-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income Tax (Appeals)-22,Kolkata’S Order Dated 10.05.2017 Passed In Case No.71/Cit(A)/22/Kol/14-15/16-17 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Learned Representatives. Case File Perused. 2. The Assessee’S Sole Substantive Ground Challenges Correctness Of Both The Lower Authorities’ Action Treating Its Long Term Capital Gains (Ltcg) Of ₹64,99,391/- To Be Unexplained Cash Credits U/S 68 Of The Act. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- ”06. Decision: 1. I Have Carefully Considered The Action Of The Ld. Ao In Treating The Amount Of Rs.67,24,391/- Being Claimed By The Appellant To Be Proceeds Of Shares Sold To Be Ltcg & Claimed As Exempt. The Findings Of The Ld. Ao Are Based On The Information Being Supplied By The Investigation Wing Of The Department At Kolkata. I Have Also Carefully Examined The Submissions Of The Appellant, Wherein

house at Ashray,a 78 Hatkesh Society, 9th Road, JVPD scheme, Vile Parie West, Mumbai-49 is udner “pagdri” system , and I have no other immovable property. My brother Shri Pradeep P Sureka has flat in his name in Pune. This office premise at Room No.53/54, 3rd floor, 63/71. Dadiseth Agiary Lane, Kalbadevi Road, Mumbai-400002 is in the name

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

RAGUVALIKA TRADING PVT LTD ( SINCE MERGED WITH M.M.MURARKA SHARE & SECURITIES PVT LTD),KOLKATA vs. D.C.I.T CIR - 4,KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 848 To 850/Kol/2013 Assessment Years : 2005-06 To 2007-08 Ruguvalika Trading Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata (Since Merged With M.M. Murarka Share & Securities Pvt. Ltd. [Pan: Aabcr 5743 B] (Appellant) (Respondent)

section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

TRUE-MAN CONSULTANTS PVT. LTD. ,KOLKATA vs. ITO,WARD-7(2),KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Sri Rajpal Yadav & Dr. Manish Borad

269), Audited Consultants Private (Page no. 273 of the Balance Sheet (273), Bank statement Limited. paper book) (279), Incorporation certificate (280), AAKCA2263L Income Tax Return Acknowledgement (281), Master data as appearing on MCA (282), details of directors as appearing on MCA (283), Memorandum and Articles of Association (284), Copy of PAN Card (301) copy of share application (302), Copy

M/S. EARNEST TOWERS PRIVATE LIMITED ,KOLKATA vs. ACIT, CIRCLE - 2(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravii.T.A. No. 2530/Kol/2017 Assessment Year: 2013-14 M/S. Earnest Towers Private Limited……….………....………………...…………………….….Appellant [Pan : Aabce 8612 N] Vs. Acit, Circle-2(1), Kolkata………............................................................…....….…………..…...Respondent Appearances By: Shri Ajit Kumar Jain & Siddhesh Chaugule, C.A Appearing On Behalf Of The Appellant. Shri P. K. Srihari, Cit- Dr, Appearing On Behalf Of The Respondent.

property. The Company estimated a budget cost of Rs.1,828 crores. It also availed loan of Rs. 470 crores from Housing Development Finance Corporation Ltd so as to part finance the construction. The remaining cost of construction was funded by way of equity/internal accruals. In April 2012, out of the total area of 6.57 lakh sq. ft., the Assessee sold

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. DDIT, INTERNATIONAL TAXATION - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. ADIT (INTERNATIONAL TAXATION) - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

ACIT, CIRCLE-4(1), KOLKATA, KOLKATA vs. M/S. GOODRICK GROUP LTD., KOLKATA

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

House, 4th Floor, P-7, Chowrnghee Square, 8th Floor, 31, N.S. Road, Kolkata-700 Kolkata-69 001 [PAN No.AABCG 1614 Q] .. अपीलाथ" /Appellant ""यथ"/Respondent None आवेदक क" ओर से/By Appellant Shri Saurabh Kumar, Addl. CIT-Sr-DR राज"व क" ओर से/By Respondent 12-07-2018 सुनवाई क" तार"ख/Date of Hearing 17-08-2018 घोषणा

ACIT, CIRCLE-4(1), KOLKATA, KOLKATA vs. M/S. GOODRICK GROUP LTD., KOLKATA

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

House, 4th Floor, P-7, Chowrnghee Square, 8th Floor, 31, N.S. Road, Kolkata-700 Kolkata-69 001 [PAN No.AABCG 1614 Q] .. अपीलाथ" /Appellant ""यथ"/Respondent None आवेदक क" ओर से/By Appellant Shri Saurabh Kumar, Addl. CIT-Sr-DR राज"व क" ओर से/By Respondent 12-07-2018 सुनवाई क" तार"ख/Date of Hearing 17-08-2018 घोषणा

M/S INDIA FINANCE LTD,KOLKATA vs. D.C.I.T CC - VIII,KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

269/- and sold to M/s Coral Environment Pvt. Ltd for Rs. 81,78,86,533/-. In this manner, the assessee incurred loss of Rs. 12,46,51,755/- in cotton knitted fabric trading. 3.1. The ld AO made enquiries from M/s Visage Equipments Pvt. Ltd and M/s Coral Environment Pvt. Ltd. He called for the details of purchase and sale