AMRICON AGROVET PVT. LTD.,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

158, Lenin Sarani, 2nd 2(1), 110, Shantipally, Floor, Kolkata-13 EM By-Pass, [PAN No.AADCA 1610 Q] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri D.S. Damle, AR आवेदक क" ओर से/By Assessee Shri G. Mallikarjuha, CIT-DR राज"व क" ओर से/By Respondent 06-09-2017 सुनवाई क" तार"ख/Date of Hearing 31-10-2017 घोषणा

AMRIT FEEDS LTD,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

158, Lenin Sarani, 2nd 2(1), 110, Shantipally, Floor, Kolkata-13 EM By-Pass, [PAN No.AADCA 1610 Q] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri D.S. Damle, AR आवेदक क" ओर से/By Assessee Shri G. Mallikarjuha, CIT-DR राज"व क" ओर से/By Respondent 06-09-2017 सुनवाई क" तार"ख/Date of Hearing 31-10-2017 घोषणा

AMRICON AGROVET PVT. LTD.,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

158, Lenin Sarani, 2nd 2(1), 110, Shantipally, Floor, Kolkata-13 EM By-Pass, [PAN No.AADCA 1610 Q] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri D.S. Damle, AR आवेदक क" ओर से/By Assessee Shri G. Mallikarjuha, CIT-DR राज"व क" ओर से/By Respondent 06-09-2017 सुनवाई क" तार"ख/Date of Hearing 31-10-2017 घोषणा

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

transfer, Assessing Officer may either accept valuation of property on basis of report of approved valuer filed by assessee or he may refer question of valuation of capital asset to DVO in ac- cordance with section 55A. Further, in S Muthuraja vs CIT (2013) 37 Таx- mann.com 35a (Mad HC), Hon'ble Madras High Court has held that where

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

transfer, Assessing Officer may either accept valuation of property on basis of report of approved valuer filed by assessee or he may refer question of valuation of capital asset to DVO in ac- cordance with section 55A. Further, in S Muthuraja vs CIT (2013) 37 Таx- mann.com 35a (Mad HC), Hon'ble Madras High Court has held that where

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

Price (CUP) method for its above benchmark. The CIT DR fails to dispute the clinching fact that the impugned adjustment is well within the tolerable margin of +/.5% relevant to the impugned assessment year. The assessee has further proved the average US Dollar LIBOR (US) during the relevant financial year to be 1.13% only. The question as to whether foreign

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

Price (CUP) method for its above benchmark. The CIT DR fails to dispute the clinching fact that the impugned adjustment is well within the tolerable margin of +/.5% relevant to the impugned assessment year. The assessee has further proved the average US Dollar LIBOR (US) during the relevant financial year to be 1.13% only. The question as to whether foreign

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. BRITANNIA INDUSTRIES LIMITED , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

Price (CUP) method for its above benchmark. The CIT DR fails to dispute the clinching fact that the impugned adjustment is well within the tolerable margin of +/.5% relevant to the impugned assessment year. The assessee has further proved the average US Dollar LIBOR (US) during the relevant financial year to be 1.13% only. The question as to whether foreign

MCLEOD RUSSEL INDIA LIMITED,KOLKATA vs. A.C.I.T., CIRCLE-4(1), KOLKATA, KOLKATA

The appeals of the assessee are partly allowed

Bench: the due date of filing of return under Section 139(1) of the Act.

transfer pricing adjustment of Rs.1,40,38,728/-made in respect of Corporate Guarantees provided by the appellant is vitiated by an error in law and fact and is therefore liable to be deleted. 3. For that the Assessing Officer erred in law and on facts in mechanically making further disallowance u/s 14A of Rs 5,17,964/- by invoking

MECLEOD RUSSEL INDIA LTD.,KOLKATA vs. A.C.I.T., CIRCLE - 4(1), KOLKATA, KOLKATA

The appeals of the assessee are partly allowed

Bench: the due date of filing of return u/s 139(1) of the Act.

transfer pricing adjustment of Rs.1,40,38,728/-made in respect of Corporate Guarantees provided by the appellant is vitiated by an error in law and fact and is therefore liable to be deleted. 3. For that the Assessing Officer erred in law and on facts in mechanically making further disallowance u/s 14A of Rs 5,17,964/- by invoking

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- V (I), KOLKATA vs. BIRLA CORPORATION LIMITED, BIRLA BUILDING

In the result, both the appeals of the revenue is dismissed, as also the cross objection filed by the assessee for both the years

Bench: SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Transfer Pricing Officer (TPO) for determination of Arm’s Length Price (ALP). The Ld. TPO proposed a downward adjustment of Rs. 2,50,55,12,743/- in computing the price of sale of power. It is seen that this issue is covered in favour of the assessee by ITAT’s orders

THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

158 taxmann.com 184) (Rajasthan) has held that where during scrutiny assessee realized aspect of merging GST Input Credit with expenses and same was suo-moto surrendered by assessee by revising its return, however revenue imposed penalty under section 270A and thereafter, rejected application of assessee under section 270AA, since revenue wasn't sure whether it was a case of misrepresentation

EIH LIMITED,KOLKATA vs. D.C.I.T., INCOME TAX DEPARTMENT, NFAC, DELHI, KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

transferred the title of ownership to the lessee and claimed depreciation under section 32 of the Act on the said leased assets being the legal owner. 18. FOR THAT the DRP erred in applying the decision of the jurisdictional tribunal in the case of Phillips India and the Delhi High Court in the case of Rio Tinto, when both these

EIH LIMITED ,KOLKATA vs. DCIT, NFAC, DELHI

In the result, both the appeals of the assessee are partly allowed

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

transferred the title of ownership to the lessee and claimed depreciation under section 32 of the Act on the said leased assets being the legal owner. 18. FOR THAT the DRP erred in applying the decision of the jurisdictional tribunal in the case of Phillips India and the Delhi High Court in the case of Rio Tinto, when both these

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

158\n42,18,20,214\nNil\n(25.08.2021)\ni) In assessee's appeal, ITAT has restored the\nissue to the file of AO to verify the claim of\npower rate raised by assessee and allow the\nsame u/s 80-1A accordingly.\nii) Department appeal on this issue dismissed by\nHon'ble ITAT\n4\n2018

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

158\n(25.08.2021)\n(02.06.2023)\ni) In assessee's appeal, ITAT has restored the\nissue to the file of AO to verify the claim of\npower rate raised by assessee and allow the\nsame u/s 80-1A accordingly.\nii) Department appeal on this issue dismissed by\nHon'ble ITAT\n4\n2018

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

158 | 42,18,20,214 (25.08.2021) | 02.06.2023 | i) In assessee's appeal, ITAT has restored the\nissue to the file of AO to verify the claim of\npower rate raised by assessee and allow the\nsame u/s 80-1A accordingly.\nii) Department appeal on this issue dismissed by\nHon'ble ITAT |\n| 4 | Shyam Sel & Power Ltd |\n2018

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

transfer of leasehold interest/rights, which is in consonance with the provisions of section 50C and section 56(2)(vii) of the Act. In defence of his argument, ld. A.R. relied on the following decisions:- (i) Green Fields Hotels & Estates (389 ITR 68) (Bom HC); (ii) Dy. CIT v. Tejinder Singh (19 taxmann.com 4) (ITAT Kolkata) (iii) Atul G Puranik