D.C.I.T,CIRCLE-9(1), KOLKATA vs. M/S APOLLO GLENEAGLES HOSPITAL, KOLKATA

In the result, appeal of the Revenue for AY 2012-13 is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Ble

9(1), Kolkata. 2. The issues involved in both these appeals are identical except for variation in quantum. Hence, they were heard together and are being disposed off by way of this common order. AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 2 3. We take up appeal in ITA No. 1501/Kol/2019 for Assessment Year

D.C.I.T,CIRCLE-9(1), KOLKATA vs. M/S APOLLO GLENEAGLES HOSPITAL, KOLKATA

In the result, appeal of the Revenue for AY 2012-13 is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Ble

9(1), Kolkata. 2. The issues involved in both these appeals are identical except for variation in quantum. Hence, they were heard together and are being disposed off by way of this common order. AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 2 3. We take up appeal in ITA No. 1501/Kol/2019 for Assessment Year

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George Mathan & Shri Rakesh Mishra

9. Now, from perusal of the explanation to sub-Section (2) of Section 92B, the expression international transaction includes capital financing, include any type of long-term or short-term borrowings, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising during the course of business. Since inclusive

GRAPHITE INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

Transfer Pricing Officer. Moreover the Id AR has put up clarificatory details as well as reasoning for apparent discrepancy in disclosure. However what needs to be considered is that neither the said clarification was sought by the AO nor any enquiry was made by the AO to check the correctness of specific domestic transactions. The issue of reference

EREVMAX TECHNOLOGIES PVT. LTD.,KOLKATA vs. D.C.I.T./A.C.I.T., TP-1, , KOLKATA

Appeal of the assessee is partly allowed for statistical purposes

Bench: Us In The Paper Book)

Transfer Pricing Order, and the consequent determination of ALP amount of Rs.17678365/- being 16.85% of the Turnover of the Appellant of Rs. 105274894/-, had been proper and thus, deserved endorsement and confirmation. The Appellant had furnished respected replies to both the TPO and the DRP, by means of separate submissions. A kind perusal of the said respective replies would highlight

NORMURA RESEARCH INSTITURE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT,CIRCLE-2(2), KOL, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

Section 115JB of the Act.” Respectfully following the said decision, we hold that the sum of Rs 1,42,89,924/- being the adjustment made to ALP of international transaction cannot be added back in the computation of book profits u/s 115JB of the Act. Accordingly, the Ground No. 26 raised by the assessee is allowed.” Thus respectfully following

MADHUBAN DEALERS PVT. LTD. PRESENTLY KNOWN AS MADHUBAN DEALERS LLP,KOLKATA vs. PCIT-13, KOLKATA

In the result, the appeal of assessee allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Transfer Pricing Officer8 passed an order under Section 92CA (3) determining the Arm’s Length Price of royalty at 3 per cent and making an adjustment of Rs. 78.97 crores in respect of royalty paid by the assessee for the relevant previous year. 10 On 11 March 2016, a draft assessment order was passed in the name of Suzuki Powertrain

SMT. SHASHI JAIN,KOLKATA vs. PCIT-15, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sajnay Garg & Shri Girish Agrawalassessment Year: 2015-16

9 Shashi Jain, AY: 2015-16 observed that Ld. AO did not make proper enquiry. It is not clear as to what in the opinion of Ld. Pr. CIT is “proper enquiry”. By using such expression, it principally suggests that Ld. AO did conduct an enquiry. However, in the opinion of Ld. Pr. CIT, the enquiry was not proper

SEEMA SUREKA,KOLKATA vs. DCIT, CENTRAL CIRCLE - 3(3), KOLKATA

Appeal of the assessee is partly allowed

9. The next point with regard to the addition of Rs.13,02,000/- made u/s 56(2)\nof the Act is concerned we find that during the year under consideration the\nassessee received gift of the above amount from M/s Anand Akash Sureka, being\nthe father and a member of Hindu undivided family. The AO disallowed by\nupholding that

THE INDIAN STEEL & WIRE PRODUCTS LTD.,KOLKATA vs. ITO, WD-3(2), KOLKATA, KOLKATA

In the result, appeal of the assessee for Assessment Year 2007-

Bench: Shri Sonjoy Sarma, Hon’Ble & Shri Girish Agrawal, Hon’Ble

price of the product and the reliable estimate of the expenditure towards such warranty was allowable as the business expenditure u/s 37(1) ". 8. The ld. Counsel for assessee submitted that, it is an undisputed fact that the said provisions had been created on a scientific basis. It is also a settled matter that the said provisions are allowable

THE INDIAN STEEL & WIRE PRODUCTS LTD.,KOLKATA vs. ITO, WD-3(2), KOLKATA, KOLKATA

In the result, appeal of the assessee for Assessment Year 2007-

Bench: Shri Sonjoy Sarma, Hon’Ble & Shri Girish Agrawal, Hon’Ble

price of the product and the reliable estimate of the expenditure towards such warranty was allowable as the business expenditure u/s 37(1) ". 8. The ld. Counsel for assessee submitted that, it is an undisputed fact that the said provisions had been created on a scientific basis. It is also a settled matter that the said provisions are allowable

IMC LIMITED ,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

transfer pricing risk parameters, then, the conditions enumerated in paragraph no. 3.3 of the Circular would be applicable. He took us through these conditions and submitted that none of the conditions is available in the case of the assessee. 9. On the other hand, ld. CIT(DR) relied upon the order of the ld. Pr. CIT and submitted that

ASHA VIJAY,KOLKATA vs. ITO, WARD-28(2),KOL, KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Sri Rajpal Yadav & Sri Rajesh Kumar

price. In support of his contention, he filed a Page 3 of 7 I.T.A. No.: 401/KOL/2023 Assessment Year: 2015-16 Asha Vijay. paperbook and placed on record six decisions. According to him, in all these decisions it has been laid down that if transfer has taken place prior to accounting year 2014-15 then Section 56(2)(vii

ANIL KUMAR PAIK,KOLKATA vs. ACIT, KOLKATA

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

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 468/Kol/2023 Assessment Year: 2016-17 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 21/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2016-17. 2. The Assessee Has Raised The Following Grounds Of Appeal:-

vii)(b)(ii) of the Act. The Division Bench observed thus: "3. Regarding question No. (i): ** ** ** (f) It is self evident from reading of section 50C of the Act it would not have any application while determining 'Profits and gains of business or profession'. This is so as its application is only limited to computation of income chargeable under

ANIL KUMAR PAIK ,KOLKATA vs. ACIT, CIR-8(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 01/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld. Commissioner, Of Income Tax (Appeals)- N.F.A.C. Acted Unlawfully In Impliedly Sustaining; The Purported Addition Of Rs. 1,67.44,907/- Made The Ld. Assistant Commissioner, Of Income Tax, Circle 8(1) Kolkata By Invoking The Mischief U/S. 43Ca Of The Income Tax Act, 1961 Without Satisfying The Parameters Thereof & The Adverse Conclusion Reached On That Behalf In Violation Of The Statutory Prescription Is Completely Unfounded, Unjustified & Untenable In Law. 2. For That The Specious Approach Of The Ld. Commissioner Of Income Tax (Appeals)-N.F.A,C. Of Misreading Evidence, Considering Improper Facts

9 I.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik and not capital asset, Section 43CA of the Act will have no application on such transactions. Before us, the ld. Counsel for the assessee has referred and relied on the decision of the Co-ordinate Bench of this Tribunal in the case of M/s. Reegal Construction vs. ITO (supra

GAURAV VINIMAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

price lower than the fair market value of shares which practice the section wanted to plug. 8.5.8 In Sudhir Memon HUF v. Asstt. CIT [2014] 45 taxmann.com 176, Hon'ble Mumbai tribunal has interpreted the word “Receive” used under section 56 (2) (viia) and held that 'Receipt' is a word or ITA No.: 2306/KOL/2025 Assessment Year: 2015-16 Gaurav Vinimay

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

GOUTAM GHOSH,HOWRAH vs. P.C.I.T., KOLKATA - 13, KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

price (Rs. 33,70,000/-), leading to a difference of Rs. 43,17,802/-. Through the said notice it was proposed to tax this amount u/s 56(2)(x) of the Act. Thereafter, the appellant is seen to have advanced a number of reasons to canvass the point that taxability of the amount worked

MADHUR COAL MINING PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

price lower than the fair market value of shares which practice the section wanted to plug. 8.5.8 In Sudhir Memon HUF v. Asstt. CIT [2014] 45 taxmann.com 176, Hon'ble Mumbai tribunal has interpreted the word “Receive” used under section 56 (2) (viia) and held that 'Receipt' is a word or term of wide import and would include the acquisition