CIT v. Manish Build Well (P) Ltd.

Megapix Vanijya Pvt. Ltd., Kolkata vs. I.T.O., Ward - 9(1), Kolkata

The appeal of the assessee is allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. No.1151/Kol/2024 Assessment Year: 2012-13 Megapix Vanijya Pvt. Ltd……………………………………………..…..……Appellant C/O Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aahcm6624J] Vs. Ito, Ward-9(1), Kolkata............…....….…..….........……........……...…..…..Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri Pradip Biswas, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : August 27, 2024 Date Of Pronouncing The Order : November 18, 2024 Order Per Sonjoy Sarma: The Present Appeal Is Filed By The Assessee Against The Order Dated 13.05.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) For Assessment Year 2012-13. 2. The Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income On 26.09.2012 By Declaring A Total Loss Of Rs.4,540/-. The Case Of The Assessee Was Selected For Scrutiny Due To Large Share Premium Received By The Assessee During The Relevant Financial Year. Consequently, The Assessing Officer Issued Notices U/S 142(1) & 142(2) Of The Act Requesting For Furnishing Requisite Information. In Response To The Notices, The Ld. Ar Of The Assessee Appeared Before The Assessing Officer & Provided Primary Details Including An Explanation That The Assessee Company Was Engaged In The Business Of Share Trading. Upon

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA Before Dr. Manish Borad, Accountant Member and Shri Sonjoy Sarma, Judicial Member I.T.A. No.1151/Kol/2024 Assessment Year: 2012-13 Megapix Vanijya Pvt. Ltd……………………………………………..…..……Appellant C/o Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2nd Floor, Kolkata – 700069. [PAN: AAHCM6624J] vs. ITO, Ward-9(1), Kolkata............…....….…..….........……........……...…..…..Respondent Appearances by: Shri Siddharth Agarwal, Advocate, appeared on behalf of the appellant. Shri Pradip Biswas, Ad…

M/S. Utkal Builders Ltd., Bhubaneshwar vs. DCIT, Circle - 1(1), Kolkata

In the result, this appeal of the assessee is allowed not only on legal ground of violation of principles of natural justice but also on merits

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. Nos.604&605/Kol/2024 Assessment Years: 2016-17 & 2017-18 M/S Utkal Builders Ltd…....…….…....…………….......…....………....Appellant Plot No.777, Virayatan Saheed Nagar, Bhubaneshwar, Khorda, Orissa – 751007. [Pan: Aaacu5502C] Vs. Dcit, Circle-1(1), Kolkata……............................................…..…..... Respondent Appearances By: Shri S. M. Surana, Ar & Sunil Surana, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit- Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 18, 2024 Date Of Pronouncing The Order : September 12, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee For Different Assessment Years Against The Separate Orders Dated 15.02.2024 & 14.02.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since Common Issues Are Involved In Both The Appeals, Therefore, Both The Appeals Have Been Heard Together & Are Being Disposed Of By This Common Order. Ita No.604/Kol/2024 Is Taken As Lead Case For Narration Of Facts. 2. Ita No.604/Kol/2024 - The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Sanjay Awasthi, Accountant Member I.T.A. Nos.604&605/Kol/2024 Assessment Years: 2016-17 & 2017-18 M/s Utkal Builders Ltd…....…….…....…………….......…....………....Appellant Plot No.777, Virayatan Saheed Nagar, Bhubaneshwar, Khorda, Orissa – 751007. [PAN: AAACU5502C] vs. DCIT, Circle-1(1), Kolkata……............................................…..…..... Respondent Appearances by: Shri S. M. Surana, AR and Sunil Surana, AR, appeared on behalf of the appellant. Shri Abhijit…

M/S. Utkal Builders Ltd., Bhubaneshwar vs. DCIT, Circle - 1(1), Kolkata

In the result, this appeal of the assessee is allowed not only on legal ground of violation of principles of natural justice but also on merits

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. Nos.604&605/Kol/2024 Assessment Years: 2016-17 & 2017-18 M/S Utkal Builders Ltd…....…….…....…………….......…....………....Appellant Plot No.777, Virayatan Saheed Nagar, Bhubaneshwar, Khorda, Orissa – 751007. [Pan: Aaacu5502C] Vs. Dcit, Circle-1(1), Kolkata……............................................…..…..... Respondent Appearances By: Shri S. M. Surana, Ar & Sunil Surana, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit- Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 18, 2024 Date Of Pronouncing The Order : September 12, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee For Different Assessment Years Against The Separate Orders Dated 15.02.2024 & 14.02.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since Common Issues Are Involved In Both The Appeals, Therefore, Both The Appeals Have Been Heard Together & Are Being Disposed Of By This Common Order. Ita No.604/Kol/2024 Is Taken As Lead Case For Narration Of Facts. 2. Ita No.604/Kol/2024 - The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Sanjay Awasthi, Accountant Member I.T.A. Nos.604&605/Kol/2024 Assessment Years: 2016-17 & 2017-18 M/s Utkal Builders Ltd…....…….…....…………….......…....………....Appellant Plot No.777, Virayatan Saheed Nagar, Bhubaneshwar, Khorda, Orissa – 751007. [PAN: AAACU5502C] vs. DCIT, Circle-1(1), Kolkata……............................................…..…..... Respondent Appearances by: Shri S. M. Surana, AR and Sunil Surana, AR, appeared on behalf of the appellant. Shri Abhijit…

M/S Devbhumi Vinimay Pvt. Ltd., Kolkata vs. DCIT, Cir. 5(1), Kolkata

In the result, appeal of the assessee is allowed

Bench: DR. MANISH BORAD, HON’BLE (Accountant Member), SHRI SANJAY GARG, HON’BLE (Judicial Member)

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER I.T.A. No. 1393/Kol/2023 Assessment Year: 2012-13 M/s. Devbhumi Vinimay Pvt. Ltd. The Deputy Commissioner of 2nd Floor, Room No. 10 Vs Income Tax, Circle-5(1), Kolkata 3, Synagogue Street Kolkata - 700001 [PAN : AADCD6145R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sunil Surana, A/R Revenue by : Shri Sanjay Paul, Addl. CIT, D/R सुनवाई क" तारीख/Date of Hearing : 20/02/2024 घोषणा क" तारीख /Date of Pronounc…

M/S. Brightstar Vincom Pvt.Ltd., 700007 vs. I.T.A, Ward-3(3), Kolkata

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.176/Kol/2023 Assessment Year: 2012-13 M/S Brightstar Vincom Pvt. Ltd…..…......................…...……………....Appellant 18/1, 4Th Floor, Room No.48, M.D. Road, Burrabazar, Kolkata-700007. [Pan: Aadcb2082R] Vs. Ito, Ward-3(3), Kolkata........…..........................................…..…..... Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 14, 2023 Date Of Pronouncing The Order : February 21, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 30.01.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.176/Kol/2023 Assessment Year: 2012-13 M/s Brightstar Vincom Pvt. Ltd…..…......................…...……………....Appellant 18/1, 4th Floor, Room No.48, M.D. Road, Burrabazar, Kolkata-700007. [PAN: AADCB2082R] vs. ITO, Ward-3(3), Kolkata........…..........................................…..…..... Respondent Appearances by: Shri Miraj D. Shah, AR, appeared on behalf…

M/S Arham Packaging Goods Pvt.Ltd., Kolkata vs. I.T.O., Ward-10(2), Kolkata

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg (Judicial Member), Shri Girish Agrawal (Accountant Member)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.130/Kol/2019 Assessment Year: 2012-13 M/s Arham Packaging Goods Pvt. Ltd....................…...……………....Appellant 35, Humayun Kabir Sarani, 4th Floor, Kolkata-700053. [PAN: AAKCA2369R] vs. ITO, Ward-10(2), Kolkata........…..........................................…..…..... Respondent Appearances by: Shri Akkal Dudhewala, AR, appeared on behalf of the appella…

Shipra Enclave (P) Ltd., Kolkata vs. ITO, Ward-9(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. 543/Kol/2023 Assessment Year: 2012-13 M/S. Shipra Enclave Private Limited Income Tax Officer, Ward – 47B, 2Nd Floor Vs 9(1), Kolkata 134/1, Mg Road, Burra Bazar Kolkata - 700007 [Pan : Aadcs9457M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Surana, A/R Revenue By : Shri Abhijit Kundu, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 26/09/2023 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. 24/05/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld. Cit Erred In Confirming The Action Of The Ld. Ao When The Order U/S 143(3) Is Bad In Law. 2. For That The Ld. Cit Erred In Confirming The Addition Of Share Capital & Share Premium Of Rs.6,22,00,000/- Made By The Ao U/S 68 Of The I.T. Act, 1961 When Assessee Duly Discharged Its Onus To Prove The Credits By Submitting All The Relevant Documents Which Proved The Identity & Creditworthiness Of The Subscribers & Genuineness Of The Transactions. 3. For That The Ld. Cit Erred In Confirming The Addition When Notices U/S 133(6) Issued By The Ao To All The Subscribers Were Duly Served On Them & Replied Back Which Has Not Been Disputed Or Doubted By The Assessing Officer.

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA BEFORE SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER & DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER I.T.A. No. 543/Kol/2023 Assessment Year: 2012-13 M/s. Shipra Enclave Private Limited Income Tax Officer, Ward – 47B, 2nd Floor Vs 9(1), Kolkata 134/1, MG Road, Burra Bazar Kolkata - 700007 [PAN : AADCS9457M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sunil Surana, A/R Revenue by : Shri Abhijit Kundu, CIT, D/R सुनवाई क" तारीख/Date of Hearing : 26/09/2023 घोषणा क" तारीख /Date of Pronouncement: 29/11/2023 आ…

Rainbow Vincom (P) Ltd., Kolkata vs. ITO, Ward-9(3), Kol, Kolkata

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.456/Kol/2023 Assessment Year: 2012-13 Rainbow Vincom Pvt. Ltd.......................................…...……………....Appellant 13A, Prasanna Kumar Tagore Street, Kolkata-700006. [Pan: Aadcr1482M] Vs. Ito, Ward-9(3), Kolkata........…..........................................…..…..... Respondent Appearances By: Shri Manish Tiwari, Fca, Appeared On Behalf Of The Appellant. Shri B. K. Singh, Jcit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 03, 2023 Date Of Pronouncing The Order : November 10, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 30.03.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That On The Facts & In The Circumstances Of The Case, Ld. Cit(A) Erred In Confirming The Addition Of Rs. 2,06,00,000/- Towards Share Capital Including Premium As Unexplained Cash Credit U/S. 68 Of Income Tax Act, 1961. 2. That On The Facts & In The Circumstances Of The Case, Ld. Cit(A) Erred In Confirming The Action Of Ao Who Relied Upon Various Judicial Decisions Which Are Misplaced & Contrary To Law Since The Facts Are Distinguishable.

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.456/Kol/2023 Assessment Year: 2012-13 Rainbow Vincom Pvt. Ltd.......................................…...……………....Appellant 13A, Prasanna Kumar Tagore Street, Kolkata-700006. [PAN: AADCR1482M] vs. ITO, Ward-9(3), Kolkata........…..........................................…..…..... Respondent Appearances by: Shri Manish Tiwari, FCA, appeared on behalf of the app…

Spring Home Pvt Ltd., Kolkata vs. ITO, Ward-9(1), Kolkata.

In the result, appeal of the assessee is allowed

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER I.T.A. No. 652/Kol/2023 Assessment Year: 2012-13 Spring Home Pvt. Ltd. Income Tax Officer, Ward – 9(1), 1st Floor, 134/1, M.G. Road Vs Kolkata Burrabazar Kolkata - 700007 [PAN : AAKCS7477E] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sunil Surana, A/R Revenue by : Shri B.K. Singh, JCIT, Sr. D/R सुनवाई क" तारीख/Date of Hearing : 05/09/2023 घोषणा क" तारीख /Date of Pronouncement: 16/10/2023 आदेश/O R D E R PER…