I.T.O.,WARD-1(1), KOLKATA vs. M/S PCM STRESCON OVERSEAS VENTURE LTD., KOLKATA

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

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

Transfer Pricing Officer is extended to sixty days in accordance with the proviso to sub-section (3A) of section 92CA and the period of limitation available to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days

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)

sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules. In the said transfer pricing study report, the assessee has used the transactional net margin method and tested the margins of Almatis India. We note that the assessee adopted an incorrect approach of considering Almatis India as the tested party for analysis

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)

sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules. In the said transfer pricing study report, the assessee has used the transactional net margin method and tested the margins of Almatis India. We note that the assessee adopted an incorrect approach of considering Almatis India as the tested party for analysis

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

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

Price Water House in Assessment Year 2003-04. In their report dated 19/11/2003, they have clearly stated that the amount of set off available in future will be lesser by the amount of Rs.8,83,81,000/-. A copy of this report is enclosed which forms a part of this order as Annexure. Surprisingly, the assessee company has changed their

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

M/S. EMTA COAL LTD.,( ERSTWHILE KNOWN AS M/S. EASTERN MINERAL & TRADING AGENCY ) ,KOLKATA vs. ACIT, CENTRAL CIRCLE - 3(1) , KOLAKTA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2010-11 M/S. Emta Coal Ltd…………………………………………..............................…….............Appellant 5B, Nandlal Basu Sarani Kolkata – 700 071 [Pan : Aacce 3506 G]

148 of the Act for this same year, the AO had recognized M/s Emta Coal Ltd as the successor of the Firm. M/s Emta Coal Ltd as the successor of the Firm.We note that the argument put forth by the We note that the argument put forth by the ld. CIT, DR in support of the order of the lower

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

prices to be paid by the buyers of the flats and all these issues were to be decided by the developer in its own discretion. During the A.Y. 2006-07, the assessee on the basis of the execution of the conveyance deed in relation to the undivided shares of land, received Rs.5,96,56,580/-. The assessee estimated the cost

VIKASH SOLVEXTRACTS PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, ground Nos

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

prices to be paid by the buyers of the flats and all these issues were to be decided by the developer in its own discretion. During the A.Y. 2006-07, the assessee on the basis of the execution of the conveyance deed in relation to the undivided shares of land, received Rs.5,96,56,580/-. The assessee estimated the cost