DCIT,CC-4(4), KOLKATA, KOLKATA vs. M/S MANI SQUARE LTD., KOLKATA

In the result, both the appeals of the revenue are dismissed

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

3) of that section, exclusive jurisdiction to exercise the powers and perform the functions of an Income-tax authority under this Act in relation to the case. Provided that where an application has been made under section 245C on or after the 1st day of June, 2007, the Settlement Commission shall have such exclusive jurisdiction from the date

M/S. MAITHAN STEEL & POWER LTD.,KOLKATA vs. I.T.O.,WARD-1, KOLKATA

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:2014-15

section 115JB. Therefore, the above mentioned irregularity has resulted in underassessment of income of Rs.11,04,19,703/- having potential tax effect of Rs.2,78,89,308/- ii) It is observed that the assessee deducted an amount of Rs.6,28,68,798/- from income as “Payment of excise Duty in respect of earlier years now allowable” as per details