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]

7 and 8 are in respect of export from 10A & 10B Unit, and relate to grievance that transfer pricing provision did not apply to transaction between the 10A and 10B unit, and to reduce the turnover pertaining to sections 10A & 10B in computation of arm’s length price. Note: All the above grounds relating to transfer pricing

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]

7 and 8 are in respect of export from 10A & 10B Unit, and relate to grievance that transfer pricing provision did not apply to transaction between the 10A and 10B unit, and to reduce the turnover pertaining to sections 10A & 10B in computation of arm’s length price. Note: All the above grounds relating to transfer pricing

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) ..

7 M/s Linde Global Support Services Private Limited, Kolkata 9. Now the question before us is that whether these additional evidences relating to “working capital adjustments” should be admitted or not? We note that Rule 29 and Rule 30 of the Income Tax Appellate Tribunal Rules provide for production of additional evidences and admission thereof, these are reproduced below: “Production

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

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

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 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. 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

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

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

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

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

AT & S INDIA PVT. LTD.,KARNATAKA vs. DCIT, CIR-11(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2011-12

68,97,22,939/- 7. Aggrieved assessee preferred an appeal to DRP. The assessee before the DRP reiterated the submission made before the TPO. The assessee submitted that the AE being distributor is less complex entity in terms of FAR analysis ('Function-Asset- Risk'). Therefore the AE was selected as the 'tested party' and accordingly margin earned by AE (segmental

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)

7 Madhu Jayanti International Ltd. A.Yr.2011-12 goods (i.e. tea and pp bags), MJIL adopted cost Plus Method as the most appropriate method in the transfer pricing study report. In the subject notice, your goodself has held that the CPM analysis for benchmarking the transaction of export of finished goods is not correct as the direct expenses allocated

KOLKATA METROPOLITAN DEVELOPMENT AUTHORITY,KOLKATA vs. J.C.I.T RANGE - 50,KOLKATA, KOLKATA

In the result, the appeals of the assessee in ITA Nos

Bench: Hon’Ble Shri A.T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 723 & 724/Kol/2013 Assessment Years : 2006-07 & 2007-08 Kolkata Metropolitan Development Authority -Vs- C.I.T.-Xvii, Kolkata [Pan: Aaalk 0714 F] (Appellant) (Respondent) I.T.A Nos. 523 & 524/Kol/2013 Assessment Years : 2006-07 & 2007-08 Kolkata Metropolitan Development Authority -Vs- J.C.I.T., Kolkata [Pan: Aaalk 0714 F] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Counsel Of Assessee For The Respondent : Shri Anand R. Baiwar, Cit Date Of Hearing : 09.08.2017 Date Of Pronouncement : 18.08.2017

10A seeking registration u/s 12AA of the Act and accordingly the order u/s 12AA was passed by the learned Director of Income Tax (Exemptions) , Kolkata on 9.7.2012 granting registration initially from 1.4.2012 later modified vide corrigendum dated 13.12.2012 stating that the same is effective from 1.4.2011. In effect, the assessee is registered u/s 12AA of the Act with effect from

KOLKATA METROPOLITAN DEVELOPMENT AUTHORITY,KOLKATA vs. J.C.I.T RANGE - 50,KOLKATA, KOLKATA

In the result, the appeals of the assessee in ITA Nos

Bench: Hon’Ble Shri A.T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 723 & 724/Kol/2013 Assessment Years : 2006-07 & 2007-08 Kolkata Metropolitan Development Authority -Vs- C.I.T.-Xvii, Kolkata [Pan: Aaalk 0714 F] (Appellant) (Respondent) I.T.A Nos. 523 & 524/Kol/2013 Assessment Years : 2006-07 & 2007-08 Kolkata Metropolitan Development Authority -Vs- J.C.I.T., Kolkata [Pan: Aaalk 0714 F] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Counsel Of Assessee For The Respondent : Shri Anand R. Baiwar, Cit Date Of Hearing : 09.08.2017 Date Of Pronouncement : 18.08.2017

10A seeking registration u/s 12AA of the Act and accordingly the order u/s 12AA was passed by the learned Director of Income Tax (Exemptions) , Kolkata on 9.7.2012 granting registration initially from 1.4.2012 later modified vide corrigendum dated 13.12.2012 stating that the same is effective from 1.4.2011. In effect, the assessee is registered u/s 12AA of the Act with effect from

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

TCG DIGITAL SOLUTIONS PRIVATE LIMITED,KOLKATA vs. ITO, WARD-2(4), KOLKATA, KOLKATA

In the result, Ground No. 5 and 6 raised by the assessee are allowed

Bench: Shri A.T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1571/Kol/2016 ("नधा"रणवष" / Assessment Year:2011-12)

7. However, the ld. DR for the revenue vehemently submitted that the assessee all along has been maintaining that he himself (TCG Digital) was treated a tested party. In TP study report the assessee has mentioned that assessee (TCG Digital) is a tested party. During the TPO proceedings assessee did not object and assessee (TCG Digital) was treated