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

In the result, the appeal of the assessee is allowed

54. Profit on sale of property used for residence.-(1) Subject to the provisions\nof sub-section (2), where, in the case of an assessee being an individual or a\nHindu undivided family, the capital gain arises from the transfer of a long-term\ncapital asset being buildings or lands appurtenant thereto, and being a\nresidential house

MAYURA MOHTA,MUMBAI vs. D.C.I.T., CIRCLE - 29,, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-29 Mayura Mohta Aaykar Bhavan Dakshin, 2, Sumer Trinity Towers 202, Tower-I, New Prabhadevi Road, Gariahat Road (South), Vs. Prabha Devi, Mumbai-400 025 Kolkata-700031, West Bengal (Appellant) (Respondent) Pan No. Aevpm3232R Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Monalisha Pal Mukherjee, Dr Date Of Hearing: 16.12.2024 Date Of Pronouncement : 21.01.2025

section 54 of the Act. Without the purchase of land, house could not have been constructed. The first step was to purchase the land, which was done. Thereafter the developer was to handover the plot, so that assessee could have constructed the house within time allowed of 2 years. However, no step could be put forward thereafter because possession

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

sections 143(3A) & 143(3B) of the Income tax Act has not made any addition for Rent received from Reliance Industries Ltd of Rs.1,05,90,837/- and Service charges of Rs.70,60,558/-. (Copy of Assessment Order, 142(1) notice dated 21.12.2020 and reply of the Appellant dated 28.12.2020 enclosed). It is prayed that considering the submissions made herein

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

sections 143(3A) & 143(3B) of the Income tax Act has not made any addition for Rent received from Reliance Industries Ltd of Rs.1,05,90,837/- and Service charges of Rs.70,60,558/-. (Copy of Assessment Order, 142(1) notice dated 21.12.2020 and reply of the Appellant dated 28.12.2020 enclosed). It is prayed that considering the submissions made herein

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

sections 143(3A) & 143(3B) of the Income tax Act has not made any addition for Rent received from Reliance Industries Ltd of Rs.1,05,90,837/- and Service charges of Rs.70,60,558/-. (Copy of Assessment Order, 142(1) notice dated 21.12.2020 and reply of the Appellant dated 28.12.2020 enclosed). It is prayed that considering the submissions made herein

THE W.B STATE CO-OP AGRI AND RURAL DEVELOPMENT BANK LIMITED. ,KOLKATA vs. DCIT, CIR-54,KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

54 (Patna), it has been held that income earned by a Cooperative Bank by way of interest on P.F. amounts of employees and rent from house property could not be treated as income attributable to the banking business and hence would not qualify for deduction. Since it was not the business of the assessee to lend money to employees

SMT. KAJARI BANERJEE,KOLKATA vs. ITO WARD-29(1), KOLKTAT

In the result, the appeal of the assessee is allowed

54,23,248/- but the purchase price was only ₹50 lacs. Accordingly,\nthe Id. AO invoked the provisions of Section 56(2)(X) of the Act and\nmade an addition of ₹1,04,23,248/- to the income of the assessee in\nthe assessment framed u/s 143(3)/ 143(3A) and 143(3B) of the Act.\n05. In the appellate

ALOK GHOSH ,KOLKATA vs. ITO,WD.28(4),KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2016-17

section 48(2) of the Act and so also proper deduction u/s 54 of the Act be allowed for investment in new house 2 Alok Ghosh, AYs: 2016-17 property

RAJIB CHAKRABORTY,KOLKATA vs. ITO- WARD-30(3), KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

house property within the stipulated time limit as set out in Section 54 of the Act and thus substantively complied with the aforesaid provisions of the Act. 15. Facts in brief are that the assessee filed return of income on 29.03.2014 declaring total income of Rs. 5,99,150/-. The case of the assessee was selected for scrutiny under CASS

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing

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

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 Appearances by: Shri S.M. Surana, Advocate/Shri Sunil Surana, C.A., appeared on behalf of the assessee Shri Arup Chatterjee, Sr. DR appeared on behalf of the Revenue Date of concluding the hearing