How is the IT branch at IIEST Shibpur? How are the faculty and placements related to IT branch? Is it comparable to CSE here?

IT at IIEST Shibpur can be good but you need to utilize the opportunities you get properly. The infrastructure at the institute is good. Microsoft also recruits students from campus placements. In the past students have bagged good internship opportunities. One of the students was accepted for Google California (Internship). Compared to the CSE, the IT branch is a little behind in terms of salary packages offered. However, this branch has good diversity. 

Faculties for CSE and IT branches are comparable and the IT department even has better faculty members for a few of the subjects. The main difference between CSE and IT is that IT is a sandwich branch of CST and Electronics. So, naturally, you will need to study some Electronics subjects too. For Communication Systems, the IT branch does not have decent faculties. Adding to that, the subject is also not that useful for the future. Despite that this subject eats a chunk of the time of IT students. 

Another difference is CST introduces important subjects like algorithms in the 2nd year itself. Whereas, IT introduces these topics one year later. 

Basically, the essence is the same for the two branches, there are some minor differences in curriculum and lab work. How you do in placements depends on your hard work.