DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S ALISSA NIRMANS PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

10A, Shakespeare Sarani, / Bhawan Poorva, 110, Shanti V/s. Kolkata-7000 071 Pally, Kolkata-107 [PAN No.ADCPG 5849 A] .. अपीलाथ" /Appellant ""यथ" /Respondent/ "तया"ेपक /Co-objector ITA No.223/Kol/2017 & C.O. No.94/Kol/2017 (a/o ITA No.223/Kol/2017) Assessment Year: 2013-14 ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 2 DCIT, Central Circle-1(4), M/s Indradev Vyapaar Pvt. बनाम

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. SHRI RAMAUTAR GROURISARIA, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

10A, Shakespeare Sarani, / Bhawan Poorva, 110, Shanti V/s. Kolkata-7000 071 Pally, Kolkata-107 [PAN No.ADCPG 5849 A] .. अपीलाथ" /Appellant ""यथ" /Respondent/ "तया"ेपक /Co-objector ITA No.223/Kol/2017 & C.O. No.94/Kol/2017 (a/o ITA No.223/Kol/2017) Assessment Year: 2013-14 ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 2 DCIT, Central Circle-1(4), M/s Indradev Vyapaar Pvt. बनाम

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S CHAND TIE-UP PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

10A, Shakespeare Sarani, / Bhawan Poorva, 110, Shanti V/s. Kolkata-7000 071 Pally, Kolkata-107 [PAN No.ADCPG 5849 A] .. अपीलाथ" /Appellant ""यथ" /Respondent/ "तया"ेपक /Co-objector ITA No.223/Kol/2017 & C.O. No.94/Kol/2017 (a/o ITA No.223/Kol/2017) Assessment Year: 2013-14 ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 2 DCIT, Central Circle-1(4), M/s Indradev Vyapaar Pvt. बनाम

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S PASUPATI COMMERCE PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

10A, Shakespeare Sarani, / Bhawan Poorva, 110, Shanti V/s. Kolkata-7000 071 Pally, Kolkata-107 [PAN No.ADCPG 5849 A] .. अपीलाथ" /Appellant ""यथ" /Respondent/ "तया"ेपक /Co-objector ITA No.223/Kol/2017 & C.O. No.94/Kol/2017 (a/o ITA No.223/Kol/2017) Assessment Year: 2013-14 ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 2 DCIT, Central Circle-1(4), M/s Indradev Vyapaar Pvt. बनाम

M/S V.A.R.ALLOY & STEEL PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

10A, Shakespeare Sarani, / Bhawan Poorva, 110, Shanti V/s. Kolkata-7000 071 Pally, Kolkata-107 [PAN No.ADCPG 5849 A] .. अपीलाथ" /Appellant ""यथ" /Respondent/ "तया"ेपक /Co-objector ITA No.223/Kol/2017 & C.O. No.94/Kol/2017 (a/o ITA No.223/Kol/2017) Assessment Year: 2013-14 ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 2 DCIT, Central Circle-1(4), M/s Indradev Vyapaar Pvt. बनाम

OCTAGON ENTERPRISES (P) LTD.,KOLKATA vs. THE DCIT, CIR-2(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

10A amounting to Rs.16,04,108/-. Penalty proceedings under Assessment Year: 2011-2012 section 271(1)(c) were also initiated by the Assessing Officer and since the explanation offered by the assessee in response to the show-cause notice issued during the course of the said proceedings, was not found acceptable by him, the Assessing Officer proceeded to impose penalty

M/S TECHNICO OVERSEAS,KOLKATA vs. ITO, WD-43(3), KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 757 - 759/Kol/2016 Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Technico Overseas -Vs- Ito, Ward-43(3), Kolkata [Pan: Aadft 2896 A] (Appellant) (Respondent)

penalty u/s 271(1)(c ) of the Income Tax Act, 1961 (in short the Act). 2. The issue involved in assessment years 2007-08 and 2009-10 are identical in nature and hence they are taken up together and disposed off by common order. A.Yrs.2007-08,2008-09 & 2009-10 3. The first common issue involved in the assessment

M/S TECHNICO OVERSEAS,KOLKATA vs. ITO, WD-43(3), KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 757 - 759/Kol/2016 Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Technico Overseas -Vs- Ito, Ward-43(3), Kolkata [Pan: Aadft 2896 A] (Appellant) (Respondent)

penalty u/s 271(1)(c ) of the Income Tax Act, 1961 (in short the Act). 2. The issue involved in assessment years 2007-08 and 2009-10 are identical in nature and hence they are taken up together and disposed off by common order. A.Yrs.2007-08,2008-09 & 2009-10 3. The first common issue involved in the assessment

M/S TECHNICO OVERSEAS,KOLKATA vs. ITO, WD-43(3), KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 757 - 759/Kol/2016 Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Technico Overseas -Vs- Ito, Ward-43(3), Kolkata [Pan: Aadft 2896 A] (Appellant) (Respondent)

penalty u/s 271(1)(c ) of the Income Tax Act, 1961 (in short the Act). 2. The issue involved in assessment years 2007-08 and 2009-10 are identical in nature and hence they are taken up together and disposed off by common order. A.Yrs.2007-08,2008-09 & 2009-10 3. The first common issue involved in the assessment

DCIT, CIRCLE - 7, KOLKATA, KOLKATA vs. VODAFONE ESSAR EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. JCIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

ACIT, CIRCLE - 7, KOLKATA vs. VODAFONE ESSAR EAST LTD., KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

ACIT, CIRCLE - 7, KOLKATA vs. HUTCHISON TELECOM EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. ADDL. CIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits

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)

10A should not be allowed in respect of exchange gain." • Rusabh Diamonds vs. ACIT [I.T.A. No. 7217/Mum/2012] (Mum ITAT), it was held that: "10.1 If is clear that in case of hedging of foreign currency exposure on the underlining trade receivable or payable the profit of loss will he treated in the same 1-vay in determining the net profit