CIT v. Alagendran Finance Ltd.

Mcleod Russel India Ltd., Kolkata vs. PCIT - 2, Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm]

…mitation. The Ld. AR in defense of his argument relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. ICICI Bank Ltd. [2012] 343 ITR 74 (Bom.) and decision of the Hon’ble Supreme Court in the case of CIT Vs. Alagendran Finance Ltd. [2007] 293 ITR 1(SC). The Ld. AR, therefore, prayed that the impugned revisionary order passed by the Ld. Pr. CIT is invalid and may be quashed. 6. Ld. DR, on the other hand, strongly opposed the contention of the Ld. AR of the assessee by submitting that in terms of Explanation (3) to section 147 of the Act which empowered the AO to assess or reassess the income…

Mak, Engineering Industries Ltd., Kolkata vs. PCIT(Cen.)-2, Kolkata

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

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

…2023 are bad in law and the consequential order passed u/s 263 of the Act dated 30.03.2024 is bad in law and the same is liable to be quashed. We rely on the decision of the Hon'ble Supreme Court in the case of CIT V. Alagendran Finance Ltd reported in [2007] 293 ITR 1 (SC).” 3.2. The ld. D/R relied on the order of the ld. Pr. CIT. 4. We have carefully examined the contention of ld. A/R, the documents placed before us and the case laws relied upon. It has been argued with respect to ground no. 2, that since there was no incriminating material found during the course of search and seizure operation and thus the as…

Metsil Exports Pvt. Ltd., Kolkata vs. PCIT Cen.-2, Kolkata

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

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

…2023 are bad in law and the consequential order passed u/s 263 of the Act dated 30.03.2024 is bad in law and the same is liable to be quashed. We rely on the decision of the Hon'ble Supreme Court in the case of CIT V. Alagendran Finance Ltd reported in [2007] 293 ITR 1 (SC).” 3.2. The ld. D/R relied on the order of the ld. Pr. CIT. 4. We have carefully examined the contention of ld. A/R, the documents placed before us and the case laws relied upon. It has been argued pertaining to ground no. 2, that since there was no incriminating material found during the course of search and seizure operation and thus the asse…

Bengal General Trading Co. Pvt. Ltd., Kolkata vs. PCIT(Cen.)-Kolkata-2, Kolkata

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

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

…2023 are bad in law and the consequential order passed u/s 263 of the Act dated 27.03.2024 is bad in law and the same is liable to be quashed. We rely on the decision of the Hon'ble Supreme Court in the case of CIT V. Alagendran Finance Ltd reported in [2007] 293 ITR 1 (SC).” 3.2. The ld. D/R relied on the order of the ld. Pr. CIT. 4. We have carefully examined the contention of ld. A/R, the documents placed before us and the case laws relied upon. It has been argued with respect to ground no. 2 that since there was no incriminating material found during the course of search and seizure operation, the assessment…

ITO, Ward-6(1), Kolkata vs. M/S Daniel Commodities Pvt. Ltd., Kolkata

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.645/Kol/2020 Assessment Year: 2009-10 Ito, Ward-6(1), Kolkata………..…….......................…...……………....Appellant Vs. M/S Daniel Commodities Pvt. Ltd…..........…..........................…..…..... Respondent 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] C.O. 4/Kol/2023 (A/O I.T.A. No.645/Kol/2020) Assessment Year: 2009-10 M/S Daniel Commodities Pvt. Ltd…………….....................…..…..... Cross-Objector 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] Vs Ito, Ward-6(1), Kolkata …………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : February 23, 2024 Date Of Pronouncing The Order : May 07, 2024

…passed u/s 147 of the Act. He has further contended that the revision order passed u/s 263 was, otherwise, time-barred. He in this respect has placed reliance on the decision of the Hon’ble Supreme Court in the case of ‘CIT vs. Alagendran Finance Ltd. [2007] 293 ITR 1(SC)’, wherein, the Hon’ble Supreme Court has categorically held that where the Commissioner has sought to revise only that part of the assessment order, the subject- matter of which had nothing to do with that item of income, in such a case, doctrine of merger did not apply and that the period of limitation would commence from the date of original…

Vrinda Engineers Pvt. Ltd., Kolkata vs. PCIT, Cer-1, Kolkata.

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. Nos. 1274/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Principal Commissioner Of Income Tax,....Respondent Central-1, Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107 -A N D- I.T.A. Nos. 1232/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-1(1), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107

…a that order by the ld. Commissioner and not in reassessment order, which was reopened only qua one issue. He submitted that on this point, there is a direct decision of Hon’ble Supreme Court in the case of CIT, Chennai –vs.- Alagendran Finance Limited (2007) 293 ITR 1 (SC). He placed on record copy of this decision at pages 36 to 44 of the paper book. ITA Nos. 1274 & 1232/KOL/2023 (A.Y. 2012-2013) Vrinda Engineers Pvt. Ltd. 21. The ld. CIT(DR), on the other hand, relied upon the finding of ld. Commissioner and submitted that once a specific information was transmitted by the ld. DDIT(Investigation), then, it…

Vrinda Engineers Pvt. Ltd., Kolkata vs. ACIT, C.C-1(1), Kolkata.

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. Nos. 1274/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Principal Commissioner Of Income Tax,....Respondent Central-1, Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107 -A N D- I.T.A. Nos. 1232/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-1(1), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107

…a that order by the ld. Commissioner and not in reassessment order, which was reopened only qua one issue. He submitted that on this point, there is a direct decision of Hon’ble Supreme Court in the case of CIT, Chennai –vs.- Alagendran Finance Limited (2007) 293 ITR 1 (SC). He placed on record copy of this decision at pages 36 to 44 of the paper book. ITA Nos. 1274 & 1232/KOL/2023 (A.Y. 2012-2013) Vrinda Engineers Pvt. Ltd. 21. The ld. CIT(DR), on the other hand, relied upon the finding of ld. Commissioner and submitted that once a specific information was transmitted by the ld. DDIT(Investigation), then, it…