INCOME TAX OFFICER-WARD-23(3), KOLKATA, KOLKATA vs. SUDIP ROY, KOLKATA

In the result, Revenue’s appeal is allowed partly

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2007-08

house property was inherited by the assessee from her father was sold in asst. yr. 1993-94. The father of the assessee acquired the property in 1972 and therefore, the assessee opted for FMV of 1st April, 1981 to be the cost of acquisition. The assessee computed the indexed cost of acquisition with reference to the cost of inflation index

MANICK CHANDRA PAUL,KOLKATA vs. DCIT, CIRCLE - 8(1), KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Year: 2014-15

house on 03.10.2016 whereas the assessee sold the property on 09.12.2013. According to Ld. 6 Manick Chandra Paul, AY: 2014-15 AO, it meant that valuation was done after a lapse of three years from the transfer of property. Therefore, according to the Ld. CIT(A), the estimation of the cost of the property is not correct

ITO, WARD-31(2), KOLKATA, KOLKATA vs. SMT. NAMITA CHOWDHURY, KOLKATA

In the result the appeal by the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2009-10

55A of the Act. The DVO in his valuation report gave the following as the value of the property which the assessee was to receive : “i) Cost of half share of land measuring 5 cottah 10 chattak 30 sq. ft. as on 23/12/1997 is ½ x Rs.3,46,018/- i.e. Rs.1,73,009/-. Indexed cost of half share of land

SMT.BARNALI DHAR,KOLKATA vs. A.C.I.T.,CIRCLE-34, KOLKATA

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

Bench: Shri Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleassessment Year: 2015-16 Smt. Barnali Dhar Acit, Circle-34, Kolkata C/O. S.D. Verma, Advocate, 2Nd Floor, 7, Vs. Rabindra Sarani, Kolkata – 700 001. Pan: Ajppd 6989 D (Appellant) (Respondent) Present For: Appellant By : None Respondent By : Smt. Ranu Biswas, Acit, Dr Date Of Hearing : 21.04.2022 Date Of Pronouncement : 12.07.2022 O R D E R Per Sonjoy Sarma, Jm: This Is An Appeal Filed By The Assessee Pertaining To The Assessment Year (In Short ‘A.Y.’) 2015-16 Is Directed Against The Order Of Ld. Cit(A)- 10, Kolkata Dated 30.07.2019 Which Is Arising Out Of The Assessment Order Passed U/S 143(3) Of The Income Tax Act, 1961(In Short ‘The Act’) Dated 27.12.2017. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A)- 10 Was Not Justified In Not Deleting A Sum Of Rs. 9933057/- Being The Amount Wrongly Included By The Appellant Under The Head Capital Gain, While Filing Return Of Income Whereas As Per Section 54F No Amount Is Liable To Be Taxed. 2. The Appellant Craves Leave To Add/Alter Or Modify Any Grounds Of Appeal At Hearing Stage.”

property by the assessee is Rs. 1,16,57,762/- and the entire amount is claimed as deduction.” 4. However, according to the AO deduction can be claimed u/s 54F is as under: “Amount of exemption = Capital Gain x cost of new house Net Consideration

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

In the result, Revenue’s appeal is partly allowed

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

House at Chowringhee, Kolkata consisting of total area of the property 35.60 kottah. The assessee has sold its property for a composite consideration of Rs. 21 crores on dated 28th June 2001 to M/s Reliance Industries Limited. The sale price for the land was considered at Rs. 17,92,41,908/- and balance

ACIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

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

House at Chowringhee, Kolkata consisting of total area of the property 35.60 kottah. The assessee has sold its property for a composite consideration of Rs. 21 crores on dated 28th June 2001 to M/s Reliance Industries Limited. The sale price for the land was considered at Rs. 17,92,41,908/- and balance

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

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

House at Chowringhee, Kolkata consisting of total area of the property 35.60 kottah. The assessee has sold its property for a composite consideration of Rs. 21 crores on dated 28th June 2001 to M/s Reliance Industries Limited. The sale price for the land was considered at Rs. 17,92,41,908/- and balance

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

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

House at Chowringhee, Kolkata consisting of total area of the property 35.60 kottah. The assessee has sold its property for a composite consideration of Rs. 21 crores on dated 28th June 2001 to M/s Reliance Industries Limited. The sale price for the land was considered at Rs. 17,92,41,908/- and balance

ACIT, CIRCLE - 29, KOLKATA , KOLKATA vs. SMT. DAKSHA VIPIN BHIMANI, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviacit, Vs Smt. Daksha Vipin Bhimani, Circle-29, Front Block, 82, Sarat Bose Road, Kolkata-700068. Lansdown Market, Kolkata-700026. Pan-Aempb1937P (Appellant) (Respondent) Appellant By Sh.Shankar Halder, Sr.Dr Jcit Respondent By Sh.S.S.Gupta, Fca Date Of Hearing 31.01.2019 Date Of Pronouncement 26 .04.2019 Order Per S.S. Viswanethra Ravi

property as on 01.04.1981. This is the issue taken in the additional ground of Appeal. The assessee had already had the valuation done by registered valuer M/s R M Associates [Est. 19711, Architects, Valuers, Interior Designers, Chennai. This Firm had been granted registration under the Wealth Tax Act, 1957, since the year 1975 vide CBDT F No. 325/173/74 - W.T. dated

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

55A of the Act read with 1st and 2nd proviso of section 50C(1) of the Act for determining the value of the property as on 20.01.2009 as well as FY 2012-13 for the purpose of cost of acquisition and sale value consideration and erring in law as well as on facts of the case to appreciate that

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

55A of the Act read with 1st and 2nd proviso of section 50C(1) of the Act for determining the value of the property as on 20.01.2009 as well as FY 2012-13 for the purpose of cost of acquisition and sale value consideration and erring in law as well as on facts of the case to appreciate that

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

M/S KARB ASSOCIATES PVT. LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-8(1), KOLKATA

Bench: Shri P. M .Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

55A of the Act despite requisition by the assessee to this effect. 2 M/s Karb Associates Pvt. Ltd. I.T.A. No.1941/Kol/2019 Assessment Year: 2014-15 4. The brief facts as noted by the A.O is that the assessee had filed return of income disclosing total income of Rs.1,98,39,040/-. The A.O notes that the assessee is engaged