DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

price contract and in terms of AS-7 issued by Institute of Chartered Accountants of India (ICAI) made a provision for future foreseeable losses and claimed deduction of such a provision. The Revenue disallowed the provision made for such foreseeable losses. The Tribunal concurred with the stand of the assessee that such a provision was an allowable deduction. The relevant

WEST BENGAL HOUSING DEVELOPMENT CORPORATION LTD.,KOLKATA vs. THE I.T.O, WARD-11(1), KOLKATA, KOLKATA

In the result ITA No.213/Kol/2012 of the revenue is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2005-06

price and registration of sale deed by the competent Authority. If, however, possession of plot is delayed by HIDCO by more than 6(six) from the schedule date of possession the Corporation shall pay interest on instalments already paid by the allottee during such extended period at the prevailing fixed term deposit rates for similar period offered by the State

WEST BENGAL HOUSING INFRASTRUCTURE DEVELOPMENT CORPORATION LTD.,KOLKATA vs. ITO, WARD - 11(1), KOLKATA, KOLKATA

In the result ITA No.213/Kol/2012 of the revenue is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2005-06

price and registration of sale deed by the competent Authority. If, however, possession of plot is delayed by HIDCO by more than 6(six) from the schedule date of possession the Corporation shall pay interest on instalments already paid by the allottee during such extended period at the prevailing fixed term deposit rates for similar period offered by the State

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. WEST BENGAL HOUSING INFRASTRUCTURE DEV. CORPN. LTD., KOLKATA

In the result ITA No.213/Kol/2012 of the revenue is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2005-06

price and registration of sale deed by the competent Authority. If, however, possession of plot is delayed by HIDCO by more than 6(six) from the schedule date of possession the Corporation shall pay interest on instalments already paid by the allottee during such extended period at the prevailing fixed term deposit rates for similar period offered by the State

SRI HARTAJ SEWA SINGH,KOLKATA vs. DCIT(IT), CIRCLE-1(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2012-13

Transfer Pricing Officer for determining the Arm Length’s Price for the transactions as discussed above. The assessee during the year under consideration has stayed for the period of more than 187 days in India who was also the employee of SCPL, therefore the assessee should have been treated as PE of SCPL