ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

68,90,790/-. The expenditure incurred on exempted income from "Investment on Securities" and "Tax Free Bonds are debited in the taxable business income which is liable to be debited in the taxable business income which is liable to be disallowed as per section 14A of Income Tax Act, 1961 read with Rule 8D of Income Tax Rules

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

sections 10A & 10B in computation of arm’s length price. Note: All the above grounds relating to transfer pricing for A.Y. 2008-09 and for A.Y. 2009-10 are similar and identical therefore, we take Revenue`s appeal in ITA No.1372/Kol/2017 for A.Y.2009-10, as the lead case to adjudicate all the transfer pricing issues of the Revenue as well

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

sections 10A & 10B in computation of arm’s length price. Note: All the above grounds relating to transfer pricing for A.Y. 2008-09 and for A.Y. 2009-10 are similar and identical therefore, we take Revenue`s appeal in ITA No.1372/Kol/2017 for A.Y.2009-10, as the lead case to adjudicate all the transfer pricing issues of the Revenue as well

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)

3) of section 92C, which would warrant your goodself to disregard the analysis undertaken by the assessee and undertake a fresh analysis.) 3.7.6. The assessee pointed out the error in computation of PLI by the ld TPO as under :- 2· Error in computation of PLI of the assessee (Refer Point No. 5 of the notice) Reference point

ABN TOWER & TRANSMISSION PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri A.T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1519/Kol/2017 Assessment Year : 2012-13 Abn Tower & Transmission Pvt. Ltd. -Vs- Dcit, Circle-1(1), Kolkata [Pan: Aajcs 4837 R] (Appellant) (Respondent)

section 68 of the Act in the instant case. All the creditors had duly filed confirmations before the ld AO . Merely because the summons issued seeking their personal appearance is not complied with, the entire transactions cannot be treated as bogus and cannot be doubted by the revenue, especially when the entire onus has been proved by the assessee

I.T.O.,WARD-1(4), KOLKATA vs. M/S GARIMA ADVISORY PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

Section 68 would not operate on credits found in the books of the appellant relevant to previous assessment years which have not been explained. They would have to be taxed in the appropriate assessment years. The assessment order is therefore patently bad in law as addition on account of undisclosed cash credits have been made in the wrong assessment

M/S. LINDE GLOBAL SUPPORT SERVICES PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE - 12(1), KOLKATA , KOLKATA

The appeal of the assessee is allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am M/S Linde Global Support Services Vs. Dcit, Circle-12(1), Kolkata Private Limited, Kolkata 2Nd Floor, ‘Oxygen House’, P-43, Taratala Road, Kolkata – 700088. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccb8581A (अपीलाथ" /Assessee) (""यथ" / Respondent) ..

68% 30% 33% y) Profitability Growth (y- NA 62% 24% 36% 20% 66% o-y) The revenue numbers have indicated an unusual growth of 33% in FY 2010-11. Further, the company shows widely fluctuating trend in revenue and profits as tabulated above. Hence, Eclerx cannot be suitable for being considered as a comparable to the Assessee. 16. We note

ACIT, CIRCLE - 32, KOLKATA , KOLKATA vs. SIDDHARTHA BHARGAVA, KOLKATA

In the result, the appeal of the revenue is dismissed

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

68 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”). Aggrieved, the assessee preferred an appeal before the Ld. CIT(A), who was pleased to delete the same. 5. Having heard both the parties, we note that the Ld. CIT(A) has taken note that the assessee had filed the cash flow statement and copies

A.C.I.T CIR - 36,KOLKATA., KOLKATA vs. M/S SRI RAM COMMERCIAL CO, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

68,79,919/- income to that extent has escaped assessment for the asst year 2002-03. It may be mentioned here that notice u/s.147 was issued after prior approval from the Commissioner of Income Tax-II, Kolkata.” It is not in dispute that for A.Y. 2002-03, an assessment u/s. 143(3) of the Act had already been made

M/S TEA PROMOTERS (INDIA) PVT LTD,KOLKATA vs. D.C.I.T RG - 4,KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

68,79,919/- income to that extent has escaped assessment for the asst year 2002-03. It may be mentioned here that notice u/s.147 was issued after prior approval from the Commissioner of Income Tax-II, Kolkata.” It is not in dispute that for A.Y. 2002-03, an assessment u/s. 143(3) of the Act had already been made

INCOME TAX OFFICER WARD-4(4), KOLKATA vs. M/S TEA PROPOTERS (INDIA) PVT. LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

68,79,919/- income to that extent has escaped assessment for the asst year 2002-03. It may be mentioned here that notice u/s.147 was issued after prior approval from the Commissioner of Income Tax-II, Kolkata.” It is not in dispute that for A.Y. 2002-03, an assessment u/s. 143(3) of the Act had already been made

M/S TEA PROMOTERS (INDIA) PVT. LTD.,KOLKATA vs. DCIT, CIRCLE - 4, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

68,79,919/- income to that extent has escaped assessment for the asst year 2002-03. It may be mentioned here that notice u/s.147 was issued after prior approval from the Commissioner of Income Tax-II, Kolkata.” It is not in dispute that for A.Y. 2002-03, an assessment u/s. 143(3) of the Act had already been made

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

3. 19 states that; This can be illustrated as follows. Assume that company A manufactures two types of products, P1 and P2 that it sells to company B, an associated enterprise in another country. Assume that A is found to manufacture P1 products using valuable, unique intangibles that belong to B and following technical specifications set by B. Assume that

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

3. 19 states that; This can be illustrated as follows. Assume that company A manufactures two types of products, P1 and P2 that it sells to company B, an associated enterprise in another country. Assume that A is found to manufacture P1 products using valuable, unique intangibles that belong to B and following technical specifications set by B. Assume that

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

68[such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of seven and one-half per cent]. (2)------------ Explanation.—For the purposes of this section, “book profit” means the net profit as shown

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

68[such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of seven and one-half per cent]. (2)------------ Explanation.—For the purposes of this section, “book profit” means the net profit as shown

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

68[such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of seven and one-half per cent]. (2)------------ Explanation.—For the purposes of this section, “book profit” means the net profit as shown

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

68[such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of seven and one-half per cent]. (2)------------ Explanation.—For the purposes of this section, “book profit” means the net profit as shown

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

68[such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of seven and one-half per cent]. (2)------------ Explanation.—For the purposes of this section, “book profit” means the net profit as shown