ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

70%. The partnership business was deemed to have commenced on and from April 1, 2005. A supplemental deed of partnership was executed on March 13, 2006 between the four partners which inter alia, provided that the said firm can avail loan/credit facilities from commercial banks/financial institutions by mortgaging/charging its movable and immovable properties. The said firm subsequently obtained such loan/credit

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]

property or assets of the demerged company or any undertaking thereof by the resulting company; vi) The transfer of the undertaking is on a going concern basis. 29. Once demerger is sanctioned by the Hon’ble High court the enabling provision is section 72A of the Act, which allows carry forward and set off of accumulated loss and unabsorbed depreciation

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

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 Scheme, 1988 and had kept the sale proceeds of his old property in his savings bank account and fixed deposits with

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S BENGAL AMBUJA HOUSING DEVELOPMENT LTD., KOLKATA

In the result, the both appeals of the Revenue are dismissed

Bench: Shri A. T. Varkey, Jm & Shri A.L.Saini, Am]

section. According to the assessee however each housing block in Agrini&Vajara in themselves were "housing projects". The deduction was restricted only to such units which were individually less than 1500 sq. ft. The High Court held that even though larger land area was comprised in the project named Agrini and Vajra for which master plan was approved

MADHU JAYANTI INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

section 144C(5) of the Act dated 15.10.2015 for the Asst Year 2011-12. 2. Though the assessee had raised several grounds of appeal before us with regard to the transfer pricing addition, the only effective issue to be decided in this appeal is with regard to the determination of the Most Appropriate Method (MAM) in the instant case

DCIT, CIRCLE - 6,, KOLKATA vs. LOKNATH SARAF SECURITIES LTD.,, KOLKATA

In the result, to sum up ITA No

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

3) In respect of allowance on account of depreciation or capital expenditure on scientific research, the provisions of sub-section (2) of section 72 shall apply in relation to speculation business as they apply in relation to any other business. (4) No loss shall be carried forward under this section for more than eight assessment years immediately succeeding the assessment

I.T.O WD - 56(2),KOLKATA, KOLKATA vs. SALARPURIA SOFT ZONE, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

property is situated and has obtained the completion certificate and has produced the same for availing the benefit. Whether that certificate would satisfy the requirement of law need not be gone into in these proceedings because, when the statute does not provide for issue of such a certificate, if the Revenue insists on such certificate, the assessee would be left

I.T.O WD - 56(2),KOLKATA, KOLKATA vs. SALARPURIA SOFT ZONE, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

property is situated and has obtained the completion certificate and has produced the same for availing the benefit. Whether that certificate would satisfy the requirement of law need not be gone into in these proceedings because, when the statute does not provide for issue of such a certificate, if the Revenue insists on such certificate, the assessee would be left

M/S SALARPURIA SOFT ZONE,KOLKATA vs. J.C.I.T RG - 56,KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

property is situated and has obtained the completion certificate and has produced the same for availing the benefit. Whether that certificate would satisfy the requirement of law need not be gone into in these proceedings because, when the statute does not provide for issue of such a certificate, if the Revenue insists on such certificate, the assessee would be left

M/S SALARPURIA SOFT ZONE,KOLKATA vs. J.C.I.T RG - 56,KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed and that of revenue are dismissed

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

property is situated and has obtained the completion certificate and has produced the same for availing the benefit. Whether that certificate would satisfy the requirement of law need not be gone into in these proceedings because, when the statute does not provide for issue of such a certificate, if the Revenue insists on such certificate, the assessee would be left

ACIT, CIRCLE-15(1), KOLKATA, KOLKATA vs. M/S. DEVA LEASE AND FINANCE PVT. LTD., KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 Acit Circle-15(1), V/S. M/S Deva Lease & Aayaka Bhawan,Poorva Finance Pvt. Ltd., 1A, 110, Shantipally, Kolkta- K.B.R. Complex, 4, Ho- 107 Chi-Min Sarani, Kolkata-71 [Pan No.Aabcd 7839 E] .. अपीलाथ" /Appellant ""यथ"/Respondent C.O. No.54/Kol/2017 (A/O Ita No.961/Kol/2017) Assessment Year :2012-13 M/S Deva Lease & V/S. Acit, Circle-15(1), Finance Pvt. Ltd., 1A, Aaykar Bhavan, Poorva, K.B.R. Complex, 4, Ho- 110, Shantipally, Chi-Min Sarani, Kolkata- Kolakta-107 71 [Pan No.Aabcd 7839 E] .. "तया"ेपक/Co-Objector ""यथ"/Respondent

Section 14A r.w. 8D of the Income Tax Rule, 1962 by holding that the same is not attracted in case the assessee’s corresponding dividend income is subjected to Dividend Distribution Tax. The assessee on the other hand strongly supports the CIT(A)’s findings under challenge. It seeks to repeat the fact that the impugned dividend income had been

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S MAA AMBA TOWERS LTD., KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2012-13

Section 68 in relation to cash credit. In that decision the Calcutta High Court made the following observations: "In our opinion, in such circumstances, the Assessing officer of the assessee cannot take the burden of assessing the profit and loss account of the creditor when admittedly the creditor himself is an income tax assessee. After getting the PAN number

HARIT PROPERTIES PVT. LTD..,KOLKATA vs. ITO, WARD-5(1), KOLKATA

In the result, the appeal of assessee is dismissed

Section 2(1A)(c), Agriculture Income includes any income derived from the building owned & occupied by the receiver of the rent or revenue of any such land provided that the building is on or in the immediate vicinity of the land and is used as a dwelling house or as a store house of the agriculture produce. 4. That

MANISH BHAI,KOLKAT vs. ACIT, CIRCLE - 22, KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 2174/Kol/2017 Assessment Year : 2009-10 Manish Bhai -Vs- Acit, Circle-22, Kolkata . [Pan: Advb 8328 G] (Appellant) (Respondent)

section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 30.12.2011 for the Assessment Year 2009-10. 2. The assessee has raised several grounds of appeal: 1. The ld. CIT(A) erred in confirming the disallowance of HRA made by the AO at Rs. 2,80,349/-. 2. The ld. CIT(A) erred in confirming

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

house expenses etc. were not considered in the profit and loss account of the power units. Thereafter, ld. AO proceeded to allocate such expenses to the power undertakings on an ad- hoc basis on a formula worked out by him. The ld. CIT(A) was persuaded by the arguments that all expenses considered for allocation here

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. DHANUKA VENTURES PVT. LTD.,, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1413/Kol/2017 Assessment Year : 2012-13 Dcit, Circle-7(1), Kolkata -Vs- M/S Dhanuka Ventures Pvt. Ltd. [Pan: Aabcm 7883 K] (Appellant) (Respondent)

70,159/- as the rental income is taxed under the head income from house property. The ld AO observed that the assessee had debited a sum of Rs 1,17,99,120/- in its profit and loss account under the head ‘other expenses’. Out of this, he allowed Rs 25,00,298/- as business expenditure to be set off against

SHREE GURU REALTORS PVT. LTD.,KOLKATA vs. ITO, WD-10(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed as indicated above

Bench: Shri P.M. Jagtap

property owned by it and had earned rental income of Rs.29,04,350/-, which was comprising of license fees of Rs.7,70,950/- and utility fees of Rs.21,33,400/-. The said income was declared by the assessee in its return of income under the head “profits and gains from business or I.T.A. No. 1081/KOL./2015 Assessment year

HIND CERAMICS PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 10(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

70,08,412/- u/s 24(1) of the Act. We note that the said ITA Nos. 608 & 610/KOL/2024 Hind Ceramics Pvt. Ltd.; A.Ys. 2012-13 & 2017-18 treatment of income under the head house property was consistently followed since the earlier assessment years, wherein the said income has been accepted as house property income and standard allowances at the rate