M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

13. Before we controvert to the legal issue held in favour of the assessee by the Ld. CIT(A), let us look into section 153 which reads as under: “Time limit for completion of assessment, reassessment and recomputation 153. (1) No order of assessment shall be made under section 143 or section 144 at any time after the expiry

ACIT, CIRCLE-7(1), KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

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

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

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ACIT, CIRCLE-7.1, KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

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

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

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ITC LIMITED, KOLKATA. ,KOLKATA vs. DCIT,CIR-7(1),KOLKATA. , KOLKATA

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

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

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ACIT, CIRCLE-7(1), KOLKATA, KOLKATA vs. HI TECH SYSTEMS AND SERVICES LIMITED, KOLKATA

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

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

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ITC LIMITED,KOLKATA vs. DCIT, CIR-7(1), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both\nthe appeals of the revenue are dismissed

147 of the Act after expiry of two years from the end of\nfinancial year in which the notice u/s 148 was issued. The Id. AR\nsubmitted that the\nassessee has challenged the assessment\nproceedings by filing the writ petition before the Hon'ble Calcutta High\nCourt and Hon'ble High Court has passed an interim order directing\nthe revenue

NOMURA RESEARCH INSTITUTE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. D.C.I.T.CIRCLE-2(2), KOLKATA

In the result, the appeal of the assessee is allowed

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

147. 5. For that the Assessing Officer erred in assessing the total income of the Appellant at INR 9,40,36,160/- as against total income of INR 4,31,54,335/- computed as per the final assessment order passed on August 31, 2016 under section 143(3) of the Act.” 2 I.T.A. No. 1548/Kol/2019 Assessment Year: 2014-15 Nomura

DCIT, CIR-2(1), KOLKATA, KOLKATA vs. M/S LABVANTAGE SOLUTIONS PVT. LTD., KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

M/S LABVANTAGE SOLUTIONS PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

M/S LABVANTAGE SOLUTIONS PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

144C(1) of the Act did not make any adverse comment under section 37 (1) of the Act in respect of the said transaction after examining the details of the said transaction submitted by the appellant to the Ld. TPO and subsequently to the Ld. AO as per his direction. Without prejudice to what we have stated in ground

AJIT KUMAR,BOKARO vs. ACIT, CIRCLE 2(1), IT, KOLKATA, KOLKATA

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

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

147 r.w.s. 144C(13) of the Income Tax Act, 1961 (in short the ‘Act’) by the Asst. Commissioner of Income Tax, Circle-2(1), IT, Kolkata [hereinafter referred to as ld. 'AO'] dated 14.12.2023. 1.1. The brief facts of the case of the appellant are that the assessee is a non-resident Indian filed his return of income

AT&S INDIA PRIVATE LIMITED vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

u/s 92B and rule 10B redundant. This is patently an unacceptable position having no sanction of the Indian transfer pricing law. Borrowing a contrary mandate of the TP provisions of other countries and reading it into our provisions is not permissible. The requirement under our law is to compute the income from an international transaction between two AEs having regard

AMPI FINANCE LIMITED,KOLKATA vs. I.T.O., WARD-4(3), KOLKATA

Appeal of the assessee is allowed

Bench: the Bench that the re-opening of

147 notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section 2 of section 148, the prerequisite is there should be a valid notice. Admittedly, in the case on hand, the notice was held to be not sustainable. If that be so, the assessing officer cannot be stated to be empowered