SMT. PRIYANKA GANGULY,KOLKATA vs. D.C.I.T.(IT)-CIRCLE-2(1), KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

section 24(a), and proposition made to make Incorrect addition of coowner's income in my total income. I wish to hereby submit that the house property in question (Oberoi Exquisite ) was considered as deemed to be let out property and I am a co-owner of the property. My share being 50 percent of the house property

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

73,85,897/-. However, in the ITR filed for the current assessment year, the index cost was taken at ₹37,50,41,756/-, which is more by ₹1,18,819/-and has to be reduced accordingly. The ld. AO further noted that the assessee has claimed deduction of ₹1,06,07,936/- u/s 54 of the Act in respect

AASHIRVAD VILLA LIMITED. ,KOLKATA vs. ITO, WARD-4(3), KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee bearing

Bench: Shri Rajesh Kumar & Shri Anikesh Banerjeei.T.A. No. 1372/Kol/2023 Assessment Year: 2020-2021 Aashirvad Villa Limited,.........................Appellant 21A, Belvedere Road, Kolkata-700027 [Pan: Aaecs6659N] -Vs.- Income Tax Officer,.................................Respondent Ward-4(3), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Puja Somani, C.A., Appeared On Behalf Of The Assessee Shrip.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : February 13, 2024 Date Of Pronouncing The Order : February 13, 2024

73 of the paper book. During the year, the intra-head adjustment of the loss in respect of house property and the business loss was duly adjusted with the capital gain, which was permitted under section

RAI BHAGWAN DAS BAGLA BAHADURS MARWARI HINDU HOSPITAL,KOLKATA vs. I.T.O., WARD - 49(3) NOW, I.T.O., WARD - 44(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Rai Bhagwan Das Bagla Ito, Ward-49(3), Bahadurs Marwari Hindu 3, Govt. Place (West), Hospital Kolkata-700001, Vs. 1, R.N. Mukherjee Road, Martin West Bengal Burn House, Kolkata-700001 (Appellant) (Respondent) Pan No. Aactr1297C Assessee By : Shri Soumitra Choudhary, Ar Revenue By : Shri Prabhakar Prakash Ranjan, Dr Date Of Hearing: 05.12.2024 Date Of Pronouncement : 19.12.2024

house property, which was also accepted in the assessment, meaning thereby that there was no deprecation claimed on the block of assets and also not found in the books of accounts and no deprecation was claimed or allowed in the assessments. The ld. AO computed the Long-Term Capital Gain, however, the valuation report filed by the assessee

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

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle 10(1) Hind Ceramics Pvt. Ltd. Aaykar Bhawan Poorva, P-7, 147, Nilganj Road, Belghoria, Chowringhee Square, Vs. Kolkata-700056, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aaach7998D Assessee By : S/Shri Soumitra Choudhury & P. Sarkar, Ars Revenue By : Shri Madhumita Das, Dr Date Of Hearing: 15.10.2025 Date Of Pronouncement: 19.11.2025

section 43(5) but it is to be taxed as profit on sale of right as income of the assessee. Thus Ground No. 6 to 8 are dismissed.” 2.3. After hearing the rival contentions and perusing the materials available on record, we find that the assessee has shown the rental income under the head house property and claimed standard deduction

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

INCOME TAX OFFICER, KOLKATA vs. MILESTONE FINSTOCK PVT. LTD., KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2012-13 Ito, Ward-12(1), Kolkata…..…………..………….……….……….……Appellant Vs. Milestone Finstock Pvt. Ltd..……...…………………….....……...…..…..Respondent 62A, Hazra Road, Kol-700019. [Pan: Aaccm0280B] Appearances By: Shri Mohit Mrinal, Cit-Dr, Appeared On Behalf Of The Appellant. Shri N S Saini, Ar & Priyanka Salarpuria, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 07, 2026 Date Of Pronouncing The Order : February 24, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 24.09.2020 Of The Cit(Appeals)-4, Kolkata (Hereinafter Referred To As The “Cit(A)”) Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2012–13. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 1075 Days & The Revenue Has Filed An Affidavit For Condonation Of The Delay. The Contents Of The Said Affidavit Are As Under: Milestone Finstock Pvt. Ltd

Section 73 reads as follows: “Where any part of the business of a company [other than a company whose gross total income consists mainly of income which is chargeable under the heads “Interest on securities”, “Income from house property

GRAPHITE INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

73,07,934/- and book profit of Rs. 2,37,33,07,368/-. Subsequently the assessment record was called for on the basis of material available on the record and it was found that the order of the assessment was erroneous so far as prejudicial to the interest of the revenue and an order passed u/s 263 directing

AASHIRWAD VINCOM PVT. LTD.,KOLKATA vs. I.T.O., WARD - 9(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2013-14

section 73 is extracted below for ease of reference: “Sec. 73.. [Explanation. – Where any part of the business of a company ([other than a company whose gross total income consists mainly of income which is chargeable under the heads “Interest on securities”, “Income from house property

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

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

73,998/- is the income of the year, which has been utilized towards application of income for the year. The balance application of income of Rs.66,67,929/- had been allowed wrongly as exemption u/s. 11, whereas the same was met out of the corpus fund leading to double deduction of Rs.66,67,929/-. Also, the utilization of the corpus

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

73,872/- as on 01.04.2011. d) As per Note 10 on page 91 of the Paper Book, the assessee has NIL interest income, profit from redemption of mutual fund at ₹3,325/- and ITA Nos.: 32 & 141/KOL/2020 Assessment Year: 2013-14 M/s. Estin Tie Up Pvt. Ltd. rent of ₹24,000/- making the total other income

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

73,872/- as on 01.04.2011. d) As per Note 10 on page 91 of the Paper Book, the assessee has NIL interest income, profit from redemption of mutual fund at ₹3,325/- and ITA Nos.: 32 & 141/KOL/2020 Assessment Year: 2013-14 M/s. Estin Tie Up Pvt. Ltd. rent of ₹24,000/- making the total other income

M/S. WIDEANGLE CONSTRUCTION COMPANY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 9(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

house property with the help of section 50C of the Income Tax Act. 3. Brief facts of the case are that the assessee has filed its return of income electronically on 29.03.2015 declaring total income of Rs.7,73

ARUS PROPERTIES LLP,,KOLKATA vs. D.C.I.T., EXEMPT - 1, CIRCLE - 1(1),, KOLKATA

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

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 533/Kol/2025 Assessment Year: 2023-2024 Arus Properties Llp,………………………..….…Appellant 7B, Pretoria Street, ‘Alom House’, Kolkata-700071 [Pan:Abcfa4787H] -Vs.- Deputy Commissioner Of Income Tax,..…….Respondent Exempt-1, Circle-1(1), Kolkata, 10B, Middleton Row, Kolkata-700071 Appearances By: Shri P.J. Bhide, Fca, Appeared On Behalf Of The Assessee Ms. Archana Gupta, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: August 06, 2025 Date Of Pronouncing The Order: October 31, 2025 O R D E R

House’, Kolkata-700071 [PAN:ABCFA4787H] -Vs.- Deputy Commissioner of Income Tax,..…….Respondent Exempt-1, Circle-1(1), Kolkata, 10B, Middleton Row, Kolkata-700071 Appearances by: Shri P.J. Bhide, FCA, appeared on behalf of the assessee Ms. Archana Gupta, Addl. CIT, Sr. D.R., appeared on behalf of the Revenue Date of concluding the hearing: August 06, 2025 Date of pronouncing

TIRIYOGI NARAYAN SINGH,1,GIBSON LANE, SUITE 213, 2ND FLOOR vs. ACIT, CIRCLE-28, AAYAKAR BHAWAN, GARIAHAT ROAD

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaआयकर अपील सं/Ita No.1965/Kol/2024 (नििाारण वर्ा / Assessment Year : 2013-2014) Tiriyogi Narayan Singh, Vs Acit, Circle-28, Kolkata C/O: Subash Agarwal & Associates, Advocates Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata-700069 Pan No. :Apmps 8395 D (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee By : Shri Siddharth Agarwal, Advocate राजस्व की ओर से /Revenue By : Shri Ashutosh Kumar Sr. Dr सुनवाई की तारीख / Date Of Hearing : 27/02/2025 घोषणा की तारीख/Date Of Pronouncement : 25/04/2025 आदेश / O R D E R Per Rajesh Kumar, Am : This Is An Appeal Filed By The Assessee Against The Order Dated 21/08/2024, Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi For The Assessment Year 2013-2014, On The Following Grounds :- 1. For That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Sustaining The Disallowance Of Rs. 1,82,18,524/- Made By The A.O. On Account Of Oil & Fuel Expenses. 2. For That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Sustaining The Disallowance Of Rs. 53,40,091/- Made By The A.O. On Account Of Truck Running Expenses As Against 80,35,546/-Claimed By The Assessee. 3. (A) For That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Sustaining The Disallowance Of Rs. 3,71,736/- Made By The A.O. On Account Of Finance Charges Paid For Acquisition Of Self Occupied House Property.

section 24(b) in regard to interest paid for acquisition of self occupied house property. 4. For that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in sustaining the disallowance of Rs. 3,52,603/- made by the A.O. on account of finance charges allegedly paid to M/s S.T.F. Co. Ltd without deduction

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

73,83,433/- u/s 143(3) of the Act and penalty of ₹171,66,35,574/- was also imposed u/s 270A of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal of the assessee by dismissing the ground of disallowance of expenses exceeding the prescribed limit

NATIONAL INSURANCE COMPANY LIMITED,NEW TOWN vs. DCIT, CIRCLE 5(1),, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Shri George Mathan & Shri Rakesh Mishra

73,83,433/- u/s 143(3) of the Act and penalty of ₹171,66,35,574/- was also imposed u/s 270A of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who partly allowed the appeal of the assessee by dismissing the ground of disallowance of expenses exceeding the prescribed limit