A.C.I.T.,CIRCLE-3(2), KOLKATA vs. M/S SATTVA DEVELOPERS PVT. LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed

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

457/-) to the profit and loss account. However, in computation the assessee claimed deduction and the same were allowed in the assessment order treating the compensation as Capital Receipt. As the amount received for compensation against early termination of Lease Agreement for property is nothing but rental income from the said leased out property, this need to be considered

KOOMBER PROPERTIES & LEASING CO. PVT. LTD. ,KOLKATA vs. DCIT, CPA. BANGALORE. , BANGALORE.

In the result, the appeal of the assessee is allowed in the above terms

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

House” 14, Gurusaday Road, Kolkata-700019 Telephone: 2287-3067/8737/1816 Fax No.: (033) 2287-2577/7089 KPLC/IT/2018-19 August 24, 2023 The Joint Commissioner of Income Tax (A)-l Coimbatore Dear Sir, PAN: AABCK3342D ASSESSMENT YEAR 2018-19 DIN: ITBA/APL/F/APL 1/2023-24/1055203146(1), DATED 17/08/2023 2 Koomber Properties & Leasing Co. Pvt. Ltd. APPEAL NO, CIT(A), Kolkata-4/10179/2019-20 This has reference

ACIT, CIRCLE - 2(1), , KOLKATA vs. TCG URBAN INFRASTRUCTURE HOLDINGS PVT LTD.,, KOLKATA

Accordingly, the same is dismissed

Bench: Shri Sanjay Garg & Dr. M.L.Meenaआयकर अपील सं.य/

457/­ granting relief to the assessee on account of "Interest u/s.36( 1 )(iii)" of Rs..2,97 ,23,922/­ against interest free loans and advances given to its subsidiaries without any business purpose. 4 The appellant craves the leave to make any addition alteration, modification etc. of the grounds either before the appellate proceedings, or in the course of appellate

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

SUBRATA DAW,KOLKATA vs. ITO, WARD-36(2), KOLKATA, KOLKATA

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]

House Property (b) Income from Business (c) Capital Gain and (d) Income from Other Sources. Scrutiny Assessment was selected through CASS. The assessee was the owner of 1/4th share in an ancestral joint family property comprising of land and building situated at 152,153,154, & 155, Maniktala Main Road, Kolkata -700054 which was totally sold out by 2 Subrata

SANJEEB KUMAR SINGH ,KOLKATA vs. ACIT, CIRCLE - 40, KOLKATA , KOLKATA

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

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]

House Property". (c) For that the Ld. CIT(A) ought to have granted the benefit of standard deduction @ 30% of the rental income as per section 24(a) against the rental income of Rs. 3,36,000/- .” 3. The first issue involved in this appeal of assessee is against the action of Ld. CIT(A) in confirming the addition

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]

houses within country and abroad. The ICC was set up with the sole purpose of promotion and protection of Indian business and industry and was duly registered u/s 12A of the Act as a charitable association with the main objects as set out in Clause 3 of MAA of the assessee company as “to promote and protect the trade, commerce

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

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

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

houses within country and abroad. The ICC was set up with the sole purpose of promotion and protection of Indian business and industry and was duly registered u/s 12A of the Act as a charitable association with the main objects as set out in Clause 3 of MAA of the assessee company as “to promote and protect the trade, commerce

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the contention of the assessee that it had incurred no expenditure for earning high dividends was negated. The relevant portion of the decision is reproduced herein below We find that the aforesaid judgement is squarely applicable to the present case of the assessee. 5.4. The findings recorded by us as regards

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

457 dated 21st November, 2006 wherein on similar facts, the\ncontention of the assessee that it had incurred no expenditure for\nearning high dividends was negated. The relevant portion of the\ndecision is reproduced herein below\nWe find that the aforesaid judgement is squarely applicable to the\npresent case of the assessee.\n5.4. The findings recorded by us as regards

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

457-ITAT-2016(DEL)-TP] explicitly discarded assessee's selection of foreign AE as tested party. While arriving at its conclusion, ITAT categorically held that under transactional net margin method ("TNMM"), it is the net margin earned by the Indian assessee and not it's foreign AE which is compared with that of the comparable companies. The ITAT interpreted

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

457-ITAT-2016(DEL)-TP] explicitly discarded assessee's selection of foreign AE as tested party. While arriving at its conclusion, ITAT categorically held that under transactional net margin method ("TNMM"), it is the net margin earned by the Indian assessee and not it's foreign AE which is compared with that of the comparable companies. The ITAT interpreted

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. D I C INDIA LTD., KOLKATA

In the result, both appeals of Revenue stand dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

457 3,874,612 8,237,554 Royalty 2% on sales 40,490,090 1,615,207 Sales commission 34,806,318 3,541,431 Adjusted cost 1,696,557,274 36,146,438 77,236,649 Gross profit 327,947,211 1,839,957 3,523,682 Gross profit margin 16.20% 4.84% 4.36% 10. from the comparative analysis

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. DIC INDIA LTD., KOLKATA

In the result, both appeals of Revenue stand dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

457 3,874,612 8,237,554 Royalty 2% on sales 40,490,090 1,615,207 Sales commission 34,806,318 3,541,431 Adjusted cost 1,696,557,274 36,146,438 77,236,649 Gross profit 327,947,211 1,839,957 3,523,682 Gross profit margin 16.20% 4.84% 4.36% 10. from the comparative analysis