MANISH MALL,KOLKATA vs. ACIT, CIR. -61 , KOLKATA

The present appeal has been preferred by the assessee against the order dated 01.10.2018 of the Commissioner of Income Tax (Appeals)-19, Kolkata [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’).

The appeal is time-barred by 865 days. No cogent and convincing reason has been given for condonation of delay, therefore, the application for condonation of delay is rejected. Even, on merits the issue is squarely covered against the assessee by the recent decision of the Calcutta High Court vide common order dated 14.06.2022 in a batch of 90 appeals with a lead case titled as PCIT vs. Swati Bajaj in IA No.GA/2/2022 and Others. The ld. Counsel has submitted that the facts and issue involved in the above appeal of the assessee is identical to that were before the Hon’ble Calcutta High Court. The Hon’ble Calcutta High Court vide its decision dated 14.06.2022 (supra) has affirmed the additions made by the Assessing Officer u/s 68 of the Income Tax Act in respect of bogus long-term capital gains. In view of this, the appeal of the assessee is hereby dismissed.

In the result, the appeal of the assessee stands dismissed.