M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

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

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

153A, shall be made within a period of one year from the end of the month of such revival or within the period specified in this section or sub-section (1) of section 153B, whichever is later. (9) The provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply

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]

153A, shall be made within a period of one year from the end of the month of such revival or within the period specified in this section or sub-section (1) of section 153B, whichever is later. (9) The provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply

M/S PRICEWATERHOUSE COOPERS PVT. LTD.,KOLKATA vs. ACIT, CIRCLE-2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2011-12 M/S. Pricewaterhouse Coopers Private Limited……...............................……………………......Appellant Block-Ep, Plot –Y14 Salt Lake City Sector-V Kolkata – 700 091 [Pan : Aabcp 9181 H] Vs. Deputy Commissioner Of Income Tax (It), Circle-2(1), Kolkata……..........................…....Appellant Appearances By: Shri Kanchun Kaushal, A/R & Shri Bikash Kr. Jain, Ca, Appeared On Behalf Of The Assessee. Shri Vijay Shankar, Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 25Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

section 144C sets out the procedure to be Provisions of subsection 6, 7, 8 and 9 of section 144C sets out the procedure to be Provisions of subsection 6, 7, 8 and 9 of section 144C sets out the procedure to be followed by the dispute resolution panel in followed by the dispute resolution panel in issue of the direction

BOTHRA SHIPPING SERVICES(CURRENTLY KNOWN AS BOTHRA SHIPPING SERVICES (P) LTD.,KOLKATA vs. ACIT,CENTAL CIRCLE-1(1), KOLKATA, KOLKATA

In the result ground no. 11 & 12 are allowed for statistical purpose

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2010-11 Assessment Year: 2011-12 Assessment Year: 2012-13 Bothra Shipping Services ......…..…….……………………..…………………………………..……….……..Appellant (Currently Known As Bothra Shipping Services Pvt. Ltd.) Room No. 10 2Nd Floor “Sagar Estate 2 Clive Ghat Street Kolkata – 700 107 [Pan : Aadfb 8479 P] Assistant Commissioner Of Income Tax, Central Circle-1(1), Kolkata.…….......….......Respondent Appearances By: Shri Naresh Jain & Mrs. Arati Debnath, Ar, Appeared On Behalf Of The Assessee. Shri G. Mallikarjuna, Cit, D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : June 26Th, 2018 Date Of Pronouncing The Order : July 31St , 2018 Order Per J. Sudhakar Reddy, Am :- All These Appeals Filed By The Assessee Are Directed Against The Separate Orders Passed U/S 144C R.W.S. 143(3) Of The Income Tax Act, 1961 (In Short The ‘Act’). As The Issues Arising In All These Appeals Are Common, For The Sake Of Convenience They Are Heard Together & Disposed Off By Way Of This Common Order. 2. Brief Facts Of This Case Are Brought Out By The Ld. Drp At Page 1 Of His Order Which Is Extracted For Ready Reference:- Bothra India Is Engaged In The Business Of Handling Bulk Cargoes. Its Activities Include Vessel Handling, Stevedoring & Cargo Handling, Clearing & Forwarding & Other Port Related Activities. Jaldhi Overseas Pte Ltd ('Jaldhi Overseas') Engages Bothra India For Vessel Handling At The Port, To Provide Various Vessel Related Services Until The Vessel

section 92CA(4) & 144C(13) & 153A of the Act is bad in law and without appropriate jurisdiction. The Appellant therefore prays that the assessment order be set aside. 3. On the facts and in the circumstances of the case, and in law, the Ld. AO /Ld. Panel /Assistant Commissioner of Income-tax (Transfer Pricing

DCIT, CC-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEEL CASTINGS LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Transfer Pricing Officer ('TPO') under sub-section (I) of section 92CA of the Act. Notice under sub- section (2) of section 92CA of the Act was issued by the TPO calling for various information and details from the assessee. On the scheduled dates of hearing, the assessee filed detailed submissions/ information/ explanations, as requisitioned by the TPO. After considering

DCIT, CC-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEEL CASTINGS LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Transfer Pricing Officer ('TPO') under sub-section (I) of section 92CA of the Act. Notice under sub- section (2) of section 92CA of the Act was issued by the TPO calling for various information and details from the assessee. On the scheduled dates of hearing, the assessee filed detailed submissions/ information/ explanations, as requisitioned by the TPO. After considering

DCIT, CC-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEEL CASTINGS LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Transfer Pricing Officer ('TPO') under sub-section (I) of section 92CA of the Act. Notice under sub- section (2) of section 92CA of the Act was issued by the TPO calling for various information and details from the assessee. On the scheduled dates of hearing, the assessee filed detailed submissions/ information/ explanations, as requisitioned by the TPO. After considering

DCIT, CC-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEEL CASTINGS LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Transfer Pricing Officer ('TPO') under sub-section (I) of section 92CA of the Act. Notice under sub- section (2) of section 92CA of the Act was issued by the TPO calling for various information and details from the assessee. On the scheduled dates of hearing, the assessee filed detailed submissions/ information/ explanations, as requisitioned by the TPO. After considering

DCIT, CC-4(4), KOLKATA, KOLKATA vs. M/S ELECTROSTEEEL CASTINGS LTD., KOLKATA

In the result, all the appeals of revenue are dismissed

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

Transfer Pricing Officer ('TPO') under sub-section (I) of section 92CA of the Act. Notice under sub- section (2) of section 92CA of the Act was issued by the TPO calling for various information and details from the assessee. On the scheduled dates of hearing, the assessee filed detailed submissions/ information/ explanations, as requisitioned by the TPO. After considering

DCIT, CC-1(4), KOLKATA, KOLKATA vs. JUPITER INTERNATIONAL LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2014-15 Dcit, Cc-1(4), Kolkata ………….……………………….……….……….……Appellant Vs. Jupiter International Limited..……………………………….....……...…..…..Respondent Unnayanam, 20A, Ashutosh Chowdhury Avenue, Kol-19.. [Pan: Aaacj6956B] Appearances By: Shri P. N Barnwal, Cit-Dr, Appeared On Behalf Of The Appellant. Shri Soumitra Choudhury & Nandini Sureka, Advocate, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 12, 2026 Date Of Pronouncing The Order : January 21, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 29.10.2024 Of The National Faceless Appeal Centre [‘Cit(A)’] Passed Under Section 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2014–15. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 197 Days & The Revenue Has Filed A Petition For Condonation Of The Delay. After Going Over The Said Petition, We Find Sufficient Reasons Behind The Delay & Consequently, The Delay In Filing The Appeal Is Hereby Condoned & We Proceed To Dispose Of The Appeal On Merits.

transferred to the General Reserve, which can be distributed to shareholders, however, losses or depreciation cannot be taken from this reserve, it makes sure that a company's financial records show the real value of its assets, giving a clearer view of its finances. Therefore, it cannot be said to be a reserve set apart towards depreciation

ROHIT JALAN,KOLKATA vs. ITO, WARD - 36(1), KOLKATA

In the result, the appeal of assessee is partly allowed

Bench: Shri A. T. Varkey, Jm] I.T.A. No. 2205/Kol/2018 Assessment Year: 2013-14

153A proceedings) without incriminating material unearthed during search, the share capital received by the assessee u/s. 68 of the Act was deleted by the Tribunal, which order has been upheld by Hon’ble Delhi High Court in Pr. CIT Vs. Kurele Paper Mills Pvt. Ltd. (2016) 380 ITR 571 (Del) which decision has not been disturbed

M/S. SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And Energy

Bench: Shri George Mathan & Shri Rakesh Mishrashyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1016 & 1017/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 & 2018-2019) Shyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1018 - 1020/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 To 2019-2020) Shyam Sel & Power Limited Vs Acit, Central Circle-1(1), 5, Ss Chamber, 2Nd Floor, Kolkata Pincep Street, C.R.Avenue, Kolkata-700072 Pan No. :Aaecs 9421 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri A.K. Tulsiyan, Fca & Robin Maheshwari, Aca रधजस्व की ओर से /Revenue By : Shri Raja Sengupta, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 13/08/2025 घोषणा की तारीख/Date Of Pronouncement : 13/08/2025 आदेश / O R D E R Per George Mathan, Jm: These Are The Appeals Filed By The Two Different Assessees Against The Separate Orders Passed By The Ld. Pr.Cit(Central), Kolkata-1, Dated 07.03.2024, 14.03.2024 & 18.03.2024, Respectively For The Assessment Years 2014-2015, 2017-2018, 2018-2019 & 2019-2020, Respectively.

153A read with section 143(3) in this particular assessment year are not sustainable, as these are not linked to any incriminating material 4 ITANo.873,1016-1020/Kol/2024 found at the time of search. Hence, addition of Rs. 1,85,60,000/- u/s. 68 and the addition of Rs. 11,99,250/- on account of bogus trading loss are deleted

SHYAM SEL & POWER LIMITED,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And Energy

Bench: Shri George Mathan & Shri Rakesh Mishrashyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1016 & 1017/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 & 2018-2019) Shyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1018 - 1020/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 To 2019-2020) Shyam Sel & Power Limited Vs Acit, Central Circle-1(1), 5, Ss Chamber, 2Nd Floor, Kolkata Pincep Street, C.R.Avenue, Kolkata-700072 Pan No. :Aaecs 9421 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri A.K. Tulsiyan, Fca & Robin Maheshwari, Aca रधजस्व की ओर से /Revenue By : Shri Raja Sengupta, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 13/08/2025 घोषणा की तारीख/Date Of Pronouncement : 13/08/2025 आदेश / O R D E R Per George Mathan, Jm: These Are The Appeals Filed By The Two Different Assessees Against The Separate Orders Passed By The Ld. Pr.Cit(Central), Kolkata-1, Dated 07.03.2024, 14.03.2024 & 18.03.2024, Respectively For The Assessment Years 2014-2015, 2017-2018, 2018-2019 & 2019-2020, Respectively.

153A read with section 143(3) in this particular assessment year are not sustainable, as these are not linked to any incriminating material 4 ITANo.873,1016-1020/Kol/2024 found at the time of search. Hence, addition of Rs. 1,85,60,000/- u/s. 68 and the addition of Rs. 11,99,250/- on account of bogus trading loss are deleted

M/S. SHYAM SEL AND POWER LIMITED,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

153A\nvide order u/s\n153A\n(Date of Order)\nAllowed by CIT(A)\nHon'ble ITAT Order on 80-IA issue dated\n12.08.2024\n1\nShyam Metalics & Energy\nLtd\n2017-18\n(14.03.2024)\nIT(SS)A No. 106/Kol/2023 [A] -\n(28.07.2023) &\nIT(SS)A No. 127/Kol/2023 [D] -\n(24.08.2023)\n1,30,38,12,667\n11,77,59,811\nNil

M/S. SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

153A\nvide order u/s\n153A\n(Date of Order)\nAllowed by AO\nAllowed by CIT(A)\nHon'ble ITAT Order on 80-IA issue dated\n12.08.2024\nSHYAM SEL GROUP\n1\nShyam Metalics & Energy\nLtd\n2017-18\n11,77,59,811\n1,30,38,12,667\n12,17,57,431\n11,77,59,811\n(31.08.2021)\n(02.06.2023)\ni) Assessee

M/S SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CEN. CIR. 1(1), KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

153A\nvide order u/s\n153A\n(Date of Order) | Allowed by CIT(A)\n(Date of Order) | Hon'ble ITAT Order on 80-IA issue dated\n12.08.2024\n|---|---|---|---|---|---|---|---| \n| 1 | Shyam Metalics & Energy\nLtd |\n2017-18\n(14.03.2024) | IT(SS)A No. 106/Kol/2023 [A] -\n(28.07.2023) &\nIT(SS)A No. 127/Kol/2023

DCIT, CC - I, KOLKATA, KOLKATA vs. SUNITA KHEMKA, KOLKATA

In the result, the appeals of the revenue are dismissed

Bench: : Shri M. Balaganesh & Shri S.S. Viswanethra Ravi

153A read with section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’). 2. The only issue to be decided in these appeals are that whether the assessee is eligible to claim long term capital gains on sale of shares during Asst Years 2001-02 to 2004-05 at a concessional rate

SRI SURYA PRAKASH BAGLA,KOLKATA vs. DCIT, CEN. CIR-VII, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 398/Kol/2014 Assessment Year : 2010-11 Shri Surya Prakash Bagla -Vs- Dcit, Central Circle-Vii, Kolkata [Pan: Aebpb 4558 F] (Appellant) (Respondent)

153A of the Act on 31.12.2010, whereas the regular assessment for the Asst Year 2009-10 was completed u/s 143(3) of the Act on 31.12.2010. Number of additions were made in those assessments which were agitated by the assessee before the ld CITA and the said appeals were disposed off by a consolidated order dated 6.8.2012 for the Asst

DCIT,CC-VII, KOLKATA, KOLKATA vs. SURYA PRAKASH BAGLA, KOLKATA

Bench: Shri M. Balaganesh, Am & Shri K. Narsimha Chary, Jm]

153A of the Act thereon and for the Asst Year 2009-10, being the year of search, assessment was framed u/s 143(3) of the Act. The assessee’s appeal is mainly containing the validity of the search and the grounds of appeal in all the years can be summarized as follows : 1. For that in view of the facts