M/S H.K.DUTTA & CO.,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

PS MAGNUM,KOLKATA vs. A.C.I.T.,CIRCLE-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

ABHILASH TRADECOM PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

REACHASIA,KOLKATA vs. A.C.I.T.,CIRCLE-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

REACHASIA,KOLKATA vs. ACIT, CIR.-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

M/S COALSALE CO.,KOLKATA vs. A.C.I.T.,CIRCLE-34, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

TARASAFE INTERNATIONAL PRIVATE LIMITED ,KOLKATA vs. D.C.I.T.,CIRCLE-15(2), KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

ORIENT INDUSTRIAL CORPORATION,KOLKATA vs. ACIT, CIRCLE - 35, KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

Houses have discussed in the meeting and the Management Committee passed the Resolution for giving the donations; what influenced the assessee to give this donation to the Institution other than deduction under section 35(1)(ii) etc. 44. It is also pertinent to observe that recently Hon’ble Jurisdictional High Court has examined the issue of bogus capital gain claim

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

Bench: Shri S.S.Godara & Shri, M. Balaganesh

house / real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9(1

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

Bench: Shri S.S.Godara & Shri, M. Balaganesh

house / real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9(1

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

35. In the light of the above legal position, what we need to decide at the outset is whether the amounts paid by the assessee to the non-resident agents could be termed as “consideration for the rendering of any managerial, technical and consultancy services”. As we do so, it is useful to bear in mind the fact that even

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

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13

IV-C of the Act i.e. ‘Income from House Property’. 33. We note that the Revenue’s case solely rests on the decision Hon’ble Delhi High Court in the case of Ansal Housing Finance and Leasing Co Ltd (supra) which has taken a view that ALV of unsold flats held by a builder is assessable as income from house

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. ITO (INTERNATIONAL TAXATION) WARD, KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

house / real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9(1

ACIT, CIRCLE - 13(2), KOLKATA , KOLKATA vs. M/S. PADMA LOGISTICS & KHANIJ PRIVATE LIMITED , KOLKATA

In the result, the revenue’s appeal is partly allowed for statistical purposes

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

iv) The resulting company issues, in consideration of the demerger, its shares to the shareholders of the demerged company on a proportionate basis. v) The shareholders holding not less than three fourths in value of the shares in the demerged company (other than shares already held therein 17 Padma Logistics & Khanij Pvt. Ltd.., AY 2010-11 immediately before the demerger

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.

35,428/- paid to SBI &Rs.1,05,919/- paid to ICICI Bank), on Housing Loan taken from the Bank. Though the assessee had claimed Negative Income from Housing Property at Rs. 1,40,547/-, the A.O. has not applied the provisions of section 23(4)(b), since he owns two House properties in Kolkata, out of which