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

6. Whether this contention is correct, is the issue to be decided. 7. In order to appreciate this contention, it is necessary to consider the relevant provisions of the Act:— (i) Section 40(a)(i) of the Act :— "Section 40 - Amounts not deductible: Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted

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

1), Kol. Vs. M/s Bengal Ambuja Housing Development Ltd. Page 6 must be adopted.” Thereby, we will follow the decision in Neha Builders Pvt.Ltd. (supra). 7.1 The following sub-section (5) has been inserted after sub- section (4) of section 23 by the Finance Act, 2017, w.e.f. 01.04.2018: “(5) Where the property

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

6. Whether this contention is correct, is the issue to be decided. 7. In order to appreciate this contention, it is necessary to consider the relevant provisions of the Act:-- (i) Section 40(a)(i) of the Act :-- "Section 40 - Amounts not deductible: Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted

ACIT, CIR-2, TDS, KOLKATA, KOLKATA vs. LUX INDUSTRIES LTD., KOLKATA

Appeals are dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

6. Whether this contention is correct, is the issue to be decided. 7. In order to appreciate this contention, it is necessary to consider the relevant provisions of the Act:-- (i) Section 40(a)(i) of the Act :-- "Section 40 - Amounts not deductible: Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted

D.C.I.T CIR - 6,KOLKATA., KOLKATA vs. M/S TURNER MORRISON LTD., KOLKATA

In the result, the appeal of the Revenue as well as assessee both are partly allowed as indicated above

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

house property income in the hands of the assessee under section 23(1)(c) of the Act. Accordingly, notional rent from the said property calculated at the rate of 6

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)

6. 7. In order to appreciate this contention, it is necessary to consider the relevant provisions of the Act:— (i) Section 40(a) (i) of the Act:— "Section 40 - Amounts not deductible: Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains

ACIT, CIRCLE-32, KOLKATA, KOLKATA vs. MRS. ISHITA MOHATTA, KOLKATA

In the result the Cross Objection, No

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Acit, Cir-32, Kolkata Vs. Mrs. Ishita Mohatta 10B, Middleton Row, 3Rd Floor, Kolkata – 24, Park Street, Magma House, 9Th Floor, Kolkata – 700 071. 700 016. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) .. & Co No.45/Kol/2018 (Assessment Year: 2013-14) Vs. Acit, Cir-32, Kolkata Mrs. Ishita Mohatta 24, Park Street, Magma House, 9Th 10B, Middleton Row, 3Rd Floor, Floor, Kolkata – 700 016. Kolkata – 700 071. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajfpk 3943 P (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

6. On perusal of Balance sheets of the assessee for the A.Y-2012-13 and 2013-14, the ld AO noted that assessee had shown in her Balance Sheet, a singly owned second house property at Lavasa Corporation Ltd., (Hill Court No. 49, Hissa No. 56 Village-Dasve, Taluka-Mulshi, District- Puna, Maharashtra, value of the said house property was at Rs.1

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

1 Ownership Ownership is for a Ownership is Duration fixed term as stated indefinite and in the lease typically lasts until agreement the owner decides to sell or transfer the property. 2. Ownership Rights The lessee holds the The owner holds rights to use and complete ownership occupy the property rights to the for the lease property, including duration

FALCON VINCON PRIVATE LIMITED ,BENGALURU vs. PR.CIT-3, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Falcon Vincon Private Limited Vs. Pr. Cit-3, Kolkata 102, Tower No.12, Shriram Sameeksha, New Gangamma Gudi Police Station Road, Naidu Layout, Bengaluru "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcf3203C (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

1. That, on the facts and in the circumstances of the case, Ld. Pr. Commissioner of income Tax-3, Kolkata erred in assuming jurisdiction under section 263 of the Income Tax Act, 1961, when the assessment order dated 25th September 2014 passed by the Assessing Officer under section 143(3) of the said Act was neither erroneous nor prejudicial

ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

House property in Singapore which is not taxable in India as per Article 6 of DTAA applicable between the Government of the Republic of India and the Government of the Republic of Singapore. 19. Facts of the case which can be stated quite shortly are as follows: While computing the tax payable, the AO in his impugned order

ORIENTAL CHARITABLE FOUNDATION,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2017-18

section 11(1) of the Act has been inserted by the Finance Act, 2021 with prospective effect from 01.04.2022. However, this explanation is clarificatory in nature as the set off of loss is allowed as per the provisions of Chapter VI, which relates to computation of loss under various heads e.g. house property, business loss, capital gains etc. while

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]

6 Padma Logistics & Khanij Pvt. Ltd.., AY 2010-11 Hon’ble High Court of Bombay, the assessee company had acquired the “Vortal” division from M/s. Star Ya Kalakaar.com Limited w.e.f. 01.03.2010 and since the orders of the Hon’ble High Court were passed only in March/April, 2011, the assessee company after receipt of the order, immediately started preparing revised accounts

ONKAR SOCIETY FOR ENGINEERING & TECHNOLOGICAL ,KOLKATA vs. ACIT, CIR. 2, DURGAPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Gargshri Rakesh Mishra

House, 7th Floor, C R Avenue Kolkata - 700012 [PAN: AAATO2116M] ….......................…...……………....Appellant vs. Assistant Commissioner of Income Tax, Circle – 2, Durgapur Aayakar Bhawan, Durgapur ..........................…..…..... Respondent Appearances by: Assessee represented by : Shri S.K. Tulsiyan, Advocate Ms. Puja Somani, CA Department represented by : Shri Rakesh Kumar Das Date of concluding the hearing : July 10, 2024 Date of pronouncing the order : August

ACIT, CIRCLE - 25, KOLKATA, KOLKATA vs. SRI SUBHATOSH MAJUMDER, KOLKATA

In the result, the appeal of the Revenue is allowed for statistical purpose

Bench: Shri A.T. Varkery, Jm & Dr. Arjun Lal Saini, Am ]

Property Rights (‘IPRs’) both in India and abroad. In relation thereto, the assessee had obtained technical information or consultancy services from foreign attorneys. The AO observed that although the services were rendered by the foreign attorneys outside India but the services were essentially connected with the assessee’s profession carried on by him in India and therefore these payments were

ITO, WARD-36(1), KOLKATA, KOLKATA vs. SRI RAGHU NANDAN MODI, KOLKATA

In the result, Revenue’s appeal is dismissed

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

house property had to be computed on the basis of the sum for which the property might reasonably be let from year to year and the annual municipal value. ITA No.2186-87/Kol/2014 & CO 03-04/Kol/2015 A.Ys. 10-11 & 11-12 ITO Wd-36(1) Kol. Vs. Raghu Nanda Modi Page 11 Following the Calcutta High Court decision (1983) 1411TR

SUGAM REALTY LTD,KOLKATA vs. DCIT, KOLKATA

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

Bench: Sri Sanjay Garg & Dr. Manish Borad

houses had been let. (5) Where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of the previous year, the annual value of such property or part of the property, for the period

M/S BALMER LAWRIES & CO. LTD.,KOLKATA vs. INCOME TAX OFFICER(IT) WD-1(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2012-13 M/S Balmer Lawrie & Co. V/S. Income Tax Officer Ltd., 21, N.S.Road, (International Taxation), Kolkata-700 001 Ward-1(1), Aayakar [Pan No. Aabcb 0984 E] Bhawan (Poorva), 2Nd Floor, R. No.215, 110, Shanti Pally, Kolkata- 700 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri M.K.Poddar, Sr-Advocate अपीलाथ" क" ओर से/By Appellant Shri C.P.Bhatia, Jcit-Dr ""यथ" क" ओर से/By Respondent 18-02-2016 सुनवाई क" तार"ख/Date Of Hearing 27-04-2016 घोषणा क" तार"ख/Date Of Pronouncement

1), Kol. Page 43 therefore there was need to deduct tax at source. This decision has no application in the facts and circumstances of the instant case. 25. The fifth decision of Delhi Bench of the learned Tribunal in Van Oord ACZ India Pvt. Ltd. v. ACIT (2008) 112 ITD 79 (Del), cited by the Revenue is again distinguishable

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

6. Ground Nos. 1 and 9 are general in nature and do not require any separate adjudication. 6.1 Ground Nos. 2, 3 and 4 relate to the Ld. CIT (A) erring in denying the deduction u/s 54F of the Act on the ground that the assessee did not deposit the sale proceeds of his old property in Capital Gains Account