ANKIT GUPTA,KOLKATA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA

In the result, appeal of the assessee is allowed

transfer of shares of Kailash Auto; Kailash Auto; (b) The Assessing Officer whatsoever, in the original assessment order accepted The Assessing Officer whatsoever, in the original assessment order accepted The Assessing Officer whatsoever, in the original assessment order accepted the return of income filed by the assessee, more particularly on the issue of the return of income filed

SATISH KUMAR LAKHMANI,KOLKATA vs. PR.CIT-10, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: "ी जे. सुधाकर रे"ी, लेखा सद"य एवं/And "ी ऐ. टी. वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

KESORAM INDUSTRIES LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-5(1), KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

263 proceedings. Learned co-ordinate bench's order to this effect in ITA No.1189/Kol/2016 decided on 04.11.2016. forms part ofserved before us. We are informed that Revenue's appeal against the same is pending before hon'ble jurisdictional high court. There is no distinction on facts or law pointed out at either parties' behest in these two assessment years

DCIT, CIRCLE-5(1), , KOLKATA vs. KESORAM INDUSTRIES LIMITED, KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

263 proceedings. Learned co-ordinate bench's order to this effect in ITA No.1189/Kol/2016 decided on 04.11.2016. forms part ofserved before us. We are informed that Revenue's appeal against the same is pending before hon'ble jurisdictional high court. There is no distinction on facts or law pointed out at either parties' behest in these two assessment years

DCIT, CIRCLE - 5(1) , KOLKATA vs. M/S. KESORAM INDUSTRIES LTD., , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

263 proceedings. Learned co-ordinate bench's order to this effect in ITA No.1189/Kol/2016 decided on 04.11.2016. forms part ofserved before us. We are informed that Revenue's appeal against the same is pending before hon'ble jurisdictional high court. There is no distinction on facts or law pointed out at either parties' behest in these two assessment years

M/S. KESORAM INDUSTRIES LTD., ,KOLKATA vs. DCIT, CIRCLE - 5(1) , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

263 proceedings. Learned co-ordinate bench's order to this effect in ITA No.1189/Kol/2016 decided on 04.11.2016. forms part ofserved before us. We are informed that Revenue's appeal against the same is pending before hon'ble jurisdictional high court. There is no distinction on facts or law pointed out at either parties' behest in these two assessment years

REETA LAKHMANI,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

RAVISH LAKHMANI ,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

RITIN LAKHMANI,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

GOPICHAND LAKHMANI ,KOLKATA vs. PR.CIT - 10, KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

RACHIT LAKHMANI ,KOLKATA vs. PR.CIT - 10, KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

PRAVESH KUMAR LAKHMANI ,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

JAIKISHAN LAKHMANI ,KOLKATA vs. PR.CIT - 10 , KOLKATA

In the result, all the appeals filed by the assessees are allowed

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

revising the aforesaid order passed u/s. 143(3) of the Act." 8.1. The ld. CIT(E) initiated proceedings u/s 263 of the Act based on this proposal. The issue is whether such initiation of proceedings is valid in law. 8.2. The Kolkata 'C Bench of the Tribunal in the case of M/s. Rupayan Udyog (supra) has held as follows

M/S. EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee stands allowed

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

Transfer Pricing Officer. (c) Disallowance u/s 14A of the Act was not made by the A.O keeping in view the circular No. 5/2014 (F.No. 225/182/2013-ITA.II) dated 11-02-2014 as well as provisions laid down in the Act. (d) It is seen from clause 17 of TAR that the assesse did not take valuation of properly sold as per provisions

M/S CLASSIC FLOUR AND FOOD PROCESSING PVT LTD.,KOLKATA vs. ITO, WD-11(4), KOLKATA, KOLKATA

In the result, ITA No. 765 & 766/Kol/2014 are allowed while ITA

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

revising an order passed u/s 143(3) of the Act dated 30.12.2011. In the assessment u/s 143(3) of the Act the AO has observed that the assessee has received share capital and share premium of Rs.8,80,000/- and Rs.79,20,000/- respectively during the ITA Nos.764 to 766/Kol/2014 M/s. Classic Flour & Food Processing P.Ltd.A.Y.2007-08

DCI INDIA LTD.,KOLKATA vs. DCIT,CIR-10(1) KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri N. V. Vasudevan & Shri M. Balaganesh, I.T. A.No. 126 /Kol/2017 Assessment Years: 2010-11 Dic India Ltd. Dcit, Cir-10(1), Kolkata -Vs- [Pan :Aabbcc0703C] (Appellant) (Respondent) For The Appellant Sri D. S. Damle, Fca Sri G. Mallikarjuna, Cit, Dr. For The Respondent Date Of Hearing 22.03.2017 Date Of Pronouncement 05.04.2017

revise the assessment framed by the ld. AO on 30.4.2014 by holding the same as erroneous and prejudicial to the interests of the revenue in terms of section 263 of the Act. 4. The ld. CIT issued a show cause notice u/s 263 of the Act to the assessee on the ground that the Royalty Payment

LANDIS + GYR LIMITED,SOUTH 24 PARGANAS vs. DCIT, CIRCLE - 1, KOLKATA, KOLKATA

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

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

u/s 234 C of the Act. We find that the provisions of section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee

M/S LANDIS+GYR LIMITED,,KOLKATA vs. DCIT, CIRCLE -1, KOLKATA, KOLKATA

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

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

u/s 234 C of the Act. We find that the provisions of section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee