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

45,230/-. The return was processed u/s. 143(1) dated 19.01.2011. Subsequently, case of the assessee was taken up by issuing notice u/s. 148 on 31.03.2016 after Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 recording reasons for the issue of such notice. In the proceeding u/s. 148 read with 147 Ld. AO observed that 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

45,230/-. The return was processed u/s. 143(1) dated 19.01.2011. Subsequently, case of the assessee was taken up by issuing notice u/s. 148 on 31.03.2016 after Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 recording reasons for the issue of such notice. In the proceeding u/s. 148 read with 147 Ld. AO observed that 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

45,230/-. The return was processed u/s. 143(1) dated 19.01.2011. Subsequently, case of the assessee was taken up by issuing notice u/s. 148 on 31.03.2016 after Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 recording reasons for the issue of such notice. In the proceeding u/s. 148 read with 147 Ld. AO observed that 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

45,230/-. The return was processed u/s. 143(1) dated 19.01.2011. Subsequently, case of the assessee was taken up by issuing notice u/s. 148 on 31.03.2016 after Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 recording reasons for the issue of such notice. In the proceeding u/s. 148 read with 147 Ld. AO observed that assessee

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, CIR-28/KOL, KOLKATA

In the result, appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Dr. Manish Borad

45,230/-. The return was processed u/s. 143(1) dated 19.01.2011. Subsequently, case of the assessee was taken up by issuing notice u/s. 148 on 31.03.2016 after recording reasons for the issue of such notice. In the proceeding u/s. 148 read with 147 Ld. AO observed that assessee has claimed depreciation of Rs.32,78,068/- under section

RAMAUTAR SARAF (HUF),KOLKATA vs. ITO, WARD 59(3),, KOLKATA

In the result, the appeal of the assessee is allowed

property\" (hereafter in this section referred to as the original asset),\nand the assessee has within a period of one year before or two years after the\ndate on which the transfer took place purchased, or has within a period of three\nyears after that date constructed, a residential house, then, instead of the capital\ngain being charged to income

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

45 of the Act in his order, the AO incorrectly interpreted the gain as long-term capital 50 for the reasons best known to him. gain by not considering section 50 for the reason best known to him. 6.8 In light of the previous discussions, I am of the opinion that the gains generated from the transfer of capital assets

WINDOW TECHNOLOGIES PVT. LTD.,KOLKATA vs. PCIT (CENTRAL) - 2, KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2019-20

section 263 of the Act. The Ld. PCIT observed as under: 4. I have considered the facts of the case and the submissions made by the A/R of the assessee company. In this case, assessment was completed u/s 143(3) of the Income Tax Act, 1961 on 26.09.2021. It was observed from the assessment records and computation of income

SAFAL PROPERTIES PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(2), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2016-17

house property has been computed at Rs. 56,45,933/-. In this respect, the provision of section 24(b) are reproduced

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

JANAMANGAL SAMABAY KRISHI UNNAYAN SAMITY LIMITED,HALDIA vs. I.T.O., WARD - 27(1), HALDIA, HALDIA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 55/Kol/2023 Assessment Year: 2018-19 Janamangal Samabay Krishi Income Tax Officer, Ward – 27(1), Unnayan Samity Limited Vs Haldia Dharmadasbar, Contai Purba Medinipur - 721401 [Pan : Aabaj2517P] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Siddharth Agarwal, Advocate Revenue By : Shri Raman Garg, Addl. Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 15/01/2024 घोषणा क" तारीख /Date Of Pronouncement: 08/04/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 25/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. The Deduction U/S 80P For Whole Of The Profit Of Rs. 65,16,054/ For Business Of Banking/Providing Credit Facility Was Not Allowed As Per Order U/S 250 By The Ld. Cit Appeal Nfac, Of Appellant Assessee Janamangal Samabay Krishi Unnayan Samity Limited A Primary Agricultural Credit Cooperative Society Registered Under The West Bengal Cooperative Societies Act Engage In The Business Of Supporting Agricultural Development. As Per Order U/S 250 A Proportion Of This Profit Was Allowed U/S 80P Of Rs. 22,65,866/ By Disallowing The Balance Amount Of Rs. 42,50,188/ Without Allowing The Deduction U/S Sop. The Basis Of Proportion For Allowance & Disallowance Of Deduction U/S 80P Was Not Clear To The Assessee. According To The Assessee Cost & Profit Allocation Should Be Based On Allocation Of Fund To Deposit Investment & Loan Disbursement. Therefore Assessee Is Completely Disagreed With The Opinion & Order Of The Ld. Cit Appeal U/S 250 & Preferred For Appeal To Tribunal.”

Section 80P(2)(a)(i) of the Act. Considering the same, Rs.2,20,000/- has to be assessed under the head income from house property and after allowing the standard deduction of Rs.66,000/-, the remaining amount of Rs.1,54,000/- has to be taxed as income from house property. 6.1.1. Now, coming to the operational activities of the society

WEST BENGAL ELECTRONICS INDUSTRY DEVELOPMENT CORPORATION LIMITED,KOLKATA vs. D.C.I.T./A.C.I.T., CIRCLE - 2(1), KOLKATA, KOLKATA

Appeals of the assessee are allowed

section 147 of the Act.\n3. The facts in brief are that the assessee is a Govt. Company and is\nnodal agency of Govt. of West Bengal for development of Information\nTechnology and Information Technology enable services sectors in the\nstate of West Bengal. Its books of accounts are audited by the\nComptroller and Auditor General of India. The assessee

WEST BENGAL ELECTRONICS INDUSTRY DEVELOPMENT CORPORATION LIMITED,KOLKATA vs. DCIT/ACIT, CIRCLE - 2(1), KOLKATA, KOLKATA

Appeals of the assessee are allowed

section 147 of the Act.\n3. The facts in brief are that the assessee is a Govt. Company and is\nnodal agency of Govt. of West Bengal for development of Information\nTechnology and Information Technology enable services sectors in the\nstate of West Bengal. Its books of accounts are audited by the\nComptroller and Auditor General of India. The assessee

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

45. (1) Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D,54E, 54EA, 54EB, 54F , 54G and 54H, be chargeable to income-tax under the head "Capital gains", and shall be deemed to be the income of the previous year in which

GOUTAM GHOSH,HOWRAH vs. P.C.I.T., KOLKATA - 13, KOLKATA

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

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

property being land or building or both.]” Therefore, the order of the Assessing Authority, being no erroneous, your Honor has no jurisdiction to revise the same under the grab of Section 263 of the Income Tax Act, 1961. Section 263 cannot be invoked for adding Stamp Value under JDA where taxation is triggered after completion u/s 45