DCIT, CIRCLE - 5(1) , KOLKATA vs. M/S. L & T FINANCE LTD., , KOLKATA

In the result, appeal of the revenue is dismissed and Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2014-15 Deputy Commissioner Of L & T Finance Ltd. Income Tax, Circle-5(1), Vs. 7Th Floor, A Wing, Block Bp, Kolkata Sector V, Kolkata-700091. (Pan: Aacca1963B) (Appellant) (Respondent) & C.O. No. 10/Kol/2023 In Ita No.1781/Kol/2019 Assessment Year: 2014-15 L & T Finance Ltd. Deputy Commissioner Of Vs. 7Th Floor, A Wing, Block Bp, Income Tax, Circle-5(1), Sector V, Kolkata-700091. Kolkata. (Cross Objector) (Respondent)

253 of the Act, authorizes the respondent to file cross-objection against any part of the impugned order by which it is aggrieved. In the present case, the assessee has filed the cross-objection well in advance of the actual listing of the appeal on the board. Further, the impugned order on 5 ITA No.1781/Kol/2019 & CO No. 10/Kol/2023

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(1), KOLKATA vs. DHUNSERI VENTURES LIMITED, KOLKATA

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

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

section 80IA (8) the electricity transferred from the power plant to the PET regimes manufacturing unit was valued by the assessee with reference to the amount charged by the concerned State Electricity Board in this appeal raised opined the assessee. The Ld. AR further submits that the assessee worked out the transfer price of power of both CPPs aggregating

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

pricing issue only. Thereafter,\napproval was received for grounds of appeal with respect to transfer\npricing issue on 21.05.2019. The Ld. DR requested the Bench that the\ndelay may be condoned in view of the aforesaid reasons. Considering\nthe application for condonation of delay and the reasons stated therein,\nwe are satisfied that the Revenue had a reasonable and sufficient

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

pricing issue only. Thereafter,\napproval was received for grounds of appeal with respect to transfer\npricing issue on 21.05.2019. The Ld. DR requested the Bench that the\ndelay may be condoned in view of the aforesaid reasons. Considering\nthe application for condonation of delay and the reasons stated therein,\nwe are satisfied that the Revenue had a reasonable and sufficient

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

pricing issue only. Thereafter,\napproval was received for grounds of appeal with respect to transfer\npricing issue on 21.05.2019. The Ld. DR requested the Bench that the\ndelay may be condoned in view of the aforesaid reasons. Considering\nthe application for condonation of delay and the reasons stated therein,\nwe are satisfied that the Revenue had a reasonable and sufficient

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

pricing issue only. Thereafter,\napproval was received for grounds of appeal with respect to transfer\npricing issue on 21.05.2019. The Ld. DR requested the Bench that the\ndelay may be condoned in view of the aforesaid reasons. Considering\nthe application for condonation of delay and the reasons stated therein,\nwe are satisfied that the Revenue had a reasonable and sufficient

DCIT, CIRCLE - 10(2), , KOLKATA vs. M/S. VESUVIUS INDIA LTD., , KOLKATA

In the result, both the appeals of the revenue are dismissed and cross- objections by the assessee are allowed for statistical purposes

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

transfer pricing adjustment and concluding that the transaction between assessee and its AE is at arm’s length. iv. That the appellant craves to add, alter, amend, modify or rescind the grounds hereinabove before or hearing of this appeal.” C.O. Nos. 02 & 03/Kol/2021 AY: 2012-13 & 2013-14 M/s. Vesuvius India Ltd. 3. The revenue’s sole substantive ground raised

DCIT, CIRCLE - 10(2), , KOLKATA vs. M/S. VESUVIUS INDIA LTD., , KOLKATA

In the result, both the appeals of the revenue are dismissed and cross- objections by the assessee are allowed for statistical purposes

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

transfer pricing adjustment and concluding that the transaction between assessee and its AE is at arm’s length. iv. That the appellant craves to add, alter, amend, modify or rescind the grounds hereinabove before or hearing of this appeal.” C.O. Nos. 02 & 03/Kol/2021 AY: 2012-13 & 2013-14 M/s. Vesuvius India Ltd. 3. The revenue’s sole substantive ground raised

YUKSOM BREWERIES LTD.,SIKIM vs. ADDL./JOINT CIT, RANGE - 2, SILIGURI, SILIGURI

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

253(5) and 260A(2A), the legislature has used the expression 'reasonable cause' in section 273B. A cause which is reasonable may not be a 'sufficient cause'. Thus, the expression 'reasonable cause' would have wider connotation than the expression 'sufficient cause'. Therefore, the expression 'reasonable cause' in section 273B for non-imposition of penalty under section 271E would have

ACID, CIRCLE-5(1), KOLKATA, KOLKATA vs. EMAMI REALTY LIMITED, KOLKATA

In the result, both the appeal of the Revenue and cross objections of the assessee are\ndismissed

transferred\npursuant to the scheme of demerger in fact pertained to the real estate undertaking of\nthe demerged entity OSAIPL. Accordingly, I agree with the appellant's contention that\nthat there was no violation of section 2(19AA)(ii) of the Act and therefore denial of benefit\nof Section 47(vib) on this count was wholly unjustified.”\n3.8\nThe

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

253-256 of PB volumn-1. According to assessee, since the damages were received on account of delay in supply/non-installation of assets which eventually lead to delay in coming into existence the profit making apparatus of the assessee and thus these damage are not a part of receipt in the regular course of business of assessee. The assessee relied

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

253-256 of PB volumn-1. According to assessee, since the damages were received on account of delay in supply/non-installation of assets which eventually lead to delay in coming into existence the profit making apparatus of the assessee and thus these damage are not a part of receipt in the regular course of business of assessee. The assessee relied

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

253-256 of PB volumn-1. According to assessee, since the damages were received on account of delay in supply/non-installation of assets which eventually lead to delay in coming into existence the profit making apparatus of the assessee and thus these damage are not a part of receipt in the regular course of business of assessee. The assessee relied

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

253-256 of PB volumn-1. According to assessee, since the damages were received on account of delay in supply/non-installation of assets which eventually lead to delay in coming into existence the profit making apparatus of the assessee and thus these damage are not a part of receipt in the regular course of business of assessee. The assessee relied

M/S. BANKURA DISTRICT CENTRAL CO.OPETATIVE BANK LTD. ,BANKURA vs. DCIT, CIR-3, BANKURA. , BANKURA

In the result, ITA No. 1479/KOL/2023 is allowed for statistical purpose

Bench: Sri Rajesh Kumar & Sri Anikesh Banerjee

253 days is condoned and the matter is taken for adjudication. 3. The assessee has taken the following grounds of appeal: “1. For that the assessment order passed by the Ld. AO is bad in law as well as on facts. 2. For that the Ld. AO erred in taking the returned income at Rs. 10,53,31,180/- instead