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) ..

house property are contained in Sections 22 to 27 of the Act and profits and gains of business or profession are to be computed as per the provisions contained in Sections 28

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

In the result, the appeal of the assessee is allowed

28 Taxman 578 (Kar). These two\ncases deal with interpretation of Section 54 of the Act. The said Section is pari materia to\nSection 54F. The only distinction being that Section 54 applies to investment in a new\nhouse where the original asset sold was/is residential property and provisions of Section\n54F were/are applicable to all other assets, not being

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

In the result, the revenue’s appeal for A

section 14A as per the Rule 8D(2)(ii) & (iii) of the rules. Respectfully following the said decision of the Hon’ble Jurisdictional High Court, we uphold the impugned order of the Ld. CIT(A) on this issue and dismiss ground no 5 of the revenue’s appeal. 21 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years

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

In the result, the revenue’s appeal for A

section 14A as per the Rule 8D(2)(ii) & (iii) of the rules. Respectfully following the said decision of the Hon’ble Jurisdictional High Court, we uphold the impugned order of the Ld. CIT(A) on this issue and dismiss ground no 5 of the revenue’s appeal. 21 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years

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

In the result, the revenue’s appeal for A

section 14A as per the Rule 8D(2)(ii) & (iii) of the rules. Respectfully following the said decision of the Hon’ble Jurisdictional High Court, we uphold the impugned order of the Ld. CIT(A) on this issue and dismiss ground no 5 of the revenue’s appeal. 21 I.T.A. No. 1183 to 1185/Kol/2015 Assessment Years

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 as per the provisions of Section 23(l)(c) of the Income Tax Act, 1961 and the Ld. CIT(A), Income Tax Department, NFAC erred in law as well in facts in confirming the said addition in as much as in view of the facts and circumstances of the case, no such Addition was at all called

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]

28,900/- i.e. Rs.38,64,450/- as discussed in this order 4. Date of acquisition 27.08.2005 5. Short Term Capital Gain Difference of 1-3 The AO shall work out the calculation as per Sr. No. 5 above and bring it to tax. Since it is a short Term Capital Gain the assessee shall not be entitled to any deduction

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]

28,900/- i.e. Rs.38,64,450/- as discussed in this order 4. Date of acquisition 27.08.2005 5. Short Term Capital Gain Difference of 1-3 The AO shall work out the calculation as per Sr. No. 5 above and bring it to tax. Since it is a short Term Capital Gain the assessee shall not be entitled to any deduction

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

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

28 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited “Whether income derived by the assessee club from its house property let to its members and their guests is not chargeable to tax. ” Cricket Club of India: Whether the income from the property held by the assessee could not be brought charge under

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

28 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited “Whether income derived by the assessee club from its house property let to its members and their guests is not chargeable to tax. ” Cricket Club of India: Whether the income from the property held by the assessee could not be brought charge under

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

28 ITA No. 339/KOL/2013 (A.Y. 2009-10) ITA No. 2377/KOL/2016 (A.Y. 2011-12) The Saturday Club Limited “Whether income derived by the assessee club from its house property let to its members and their guests is not chargeable to tax. ” Cricket Club of India: Whether the income from the property held by the assessee could not be brought charge under

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

28(iv) of the Act on the ground that the condition as laid down in the said Section has not been met to the instant rent free accommodation. Now, the residual section where the perquisites value can be determined for the Sec. 23(1) of the Act for the purpose of taxation of rent free accommodation and relevant provision

N C SHAW AND CO BEVERAGES PRIVATE LIMITED,KOLKATA vs. ADDL. COMMISSIONER OF INCOME TAX (TDS), RANGE-2, KOLKATA, KOLKATA

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

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

property of the principal who continues to be the owner of the goods and will therefore be liable to account for the sale proceeds. 24. Further, the Bombay High Court in the case of CIT vs. Intervet India (P.) Ltd [2014] 49 taxmann.com 14 (Bombay) held that as regards sales promotional expenditure in question, the provisions of Expln

N C SHAW AND CO BEVERAGES PRIVATE LIMITED ,KOLKATA vs. INCOME TAX OFFICER, TDS CIRCLE 2(2), KOLKATA, KOLKATA

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

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

property of the principal who continues to be the owner of the goods and will therefore be liable to account for the sale proceeds. 24. Further, the Bombay High Court in the case of CIT vs. Intervet India (P.) Ltd [2014] 49 taxmann.com 14 (Bombay) held that as regards sales promotional expenditure in question, the provisions of Expln