E M C PROJECTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 7(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 1063/Kol/2024 Assessment Year: 2014-2015 Emc Projects Pvt. Limited,………………..………Appellant 2, Robinson Street, Shakespeare Sarani, Kolkata-700017 [Pan:Aaace7218F] -Vs.- Deputy Commissioner Of Income Tax,………Respondent Circle-7(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri S.K. Tulsiyan, Advocate, Appeared On Behalf Of The Assessee Shri Jitendra Kantilal Surti, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : August 12, 2024 Date Of Pronouncing The Order : August 20, 2024 O R D E R

8 of the Income Tax Appellate Tribunal Rules, 1963. They are descriptive and argumentative in nature. In brief, the issue in dispute is whether rental income earned by the assessee deserves to be assessed as house property income or business income? 3. Brief facts of the case are that the asseessee has filed its return of income

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

section (1) as if such house or 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

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, KOLKATA

In the result, all the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

section 22 to 27 of the Act can be granted for computing the income of the property. Accordingly, claim of deduction towards Rajatgiri Oil Industries., AYs 2009-10, 2010-11, 2013-14 & 2016-17 depreiation on the said property u/s. 32 is not available. We thus, do not find any reason to interfere in the finding given

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

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

House Property without giving cognizance to the fact that the rental income has been earned from the corporate member, hence was not included in the total income by the appellant as the property was let out to one of its members. It is also well settled law that a club cannot earn from its own members. I also find that

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

RAJATGIRI OIL INDUSTRIES,KOLKATA vs. ACIT, CIR-28/KOL, KOLKATA

In the result, appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Dr. Manish Borad

8. Assessee had claimed depreciation of Rs.32,78,068/- in AY 2009-10 as reported in its audited financial statement. These claims relate to the following properties: (a) Land and building at Hyderabad. (b) Office premises ( flat No. 3C, Rajhans, 6, Hastings Park Road, Kolkata (c) Office premises ( flat No. 3D, Rajhans, 6, Hastings Park Road, Kolkata (d) Office premises

ANIL KUMAR GHOSH,KOLKATA vs. P.C.I.T., KOLKATA - 9, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

section 24 of the IT Act, only 30% standard deduction is allowable from the said rental income. It was also seen from records that during the earlier A.Y 2016-17 the assessee has shown house property income of Rs.31,50,284/- being the amount of rent from commercial complex and tower account. 3. The AO completed the assessment by allowing

BANI BROTO BANERJEE ,KOLKATA vs. CIT(A), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 520/Kol/2023 Assessment Year: 2014-2015 Bani Broto Banerjee,…………………..…………Appellant Sanskriti, Flat – 3A, 148, Rashbehari Avenue, Near Deshapriya Park, Kolkata-700029 [Pan:Abppb0424P] -Vs.- Commissioner Of Income Tax (Appeals),……Respondent Aayakar Bhawan Dakshin, 2, Gariahat Road (South), Kolkata-700031 Appearances By: Shri Akshay Ringasia, C.A., Appeared On Behalf Of The Assessee Smt. Ranu Bisws, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : September 24, 2024 Date Of Pronouncing The Order : November 18, 2024 O R D E R

house rent property income or rent taken by him while leasing out this property. In other words, ld. CIT(Appeals) was of the view that this interest expenditure should have been adjusted under section 57 of the Income Tax Act and it is not admissible to the assessee in the computation made under section 48 of the Income

VEERPRABHU AUTO PVT. LTD.,KOLKATA vs. A.C.I.T., CC - 2(4), KOL, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

section 147/148 and those powers are saved.” 8. The Ld. CIT(A) has confirmed the disallowance of ₹31,000/- made by the Ld. AO and the finding of the Ld. CIT(A) is extracted in the preceding para 3. We find no justification for interfering the finding of the Ld. CIT(A) who has treated the income from house property

STAR PAPER MILLS LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 424/Kol/2022 Assessment Year: 2018-19 Star Paper Mills Ltd. Dcit, Circle-4(1), Kolkata Duncan House Vs 31, N.S. Road Kolkata - 700001 [Pan : Aaecs0759B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Akkal Dudhewala, Fca Revenue By : Shri G. Hukugha Sema, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 13/04/2023 घोषणा क" तारीख /Date Of Pronouncement: 10/07/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Assistant Commissioner Of Income Tax, Circle- 4(1), Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 20/06/2022, Passed U/S 144C(13) Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19 Which Is Arising Out Of The Directions Of The Dispute Resolution Panel -2, New Delhi (Hereinafter Referred To As The ‘Ld. Drp) U/S 144C(5) Of The Act Dt. 29/04/2022. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That On The Facts & In The Circumstances Of The Case & In Law, The Ao/Tpo In Complete Disregard Of The Binding Precedent In Assessee'S Own Case For 2

House Vs 31, N.S. Road Kolkata - 700001 [PAN : AAECS0759B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Akkal Dudhewala, FCA Revenue by : Shri G. Hukugha Sema, CIT D/R सुनवाई क" तारीख/Date of Hearing : 13/04/2023 घोषणा क" तारीख /Date of Pronouncement: 10/07/2023 आदेश/O R D E R PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The present appeal is directed

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

houses within country and abroad. The ICC was set up with the sole purpose of promotion and protection of Indian business and industry and was duly registered u/s 12A of the Act as a charitable association with the main objects as set out in Clause 3 of MAA of the assessee company as “to promote and protect the trade, commerce

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

houses within country and abroad. The ICC was set up with the sole purpose of promotion and protection of Indian business and industry and was duly registered u/s 12A of the Act as a charitable association with the main objects as set out in Clause 3 of MAA of the assessee company as “to promote and protect the trade, commerce

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

In the result, the appeal of the assessee is allowed

property. We note that the assessee has started the construction\nof the house within three years and therefore, the exemption u/s 54\nof the Act cannot be denied to the assessee on the ground that the\nconstruction of the house was not completed within the stipulated\nperiod. The case of the assessee find support from the decision of the\nHon