Crystal Networks Pvt. Ltd. v. CIT

Piyush Suppliers Pvt. Ltd., Kolkata vs. Income Tax Officer, Ward 9(3), Kolkata, Income Tax Department

In the result, the appeal of the assesseeis allowed

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

…of the following decisions namely In defense of his argument he relied on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. 06. Under these facts and circumstances and considering underlying facts in the light of ratio laid down in the decisions as noted above we are inclined to set aside the order of Ld. CIT(A) by directin…

Hilton Commodities Pvt. Ltd., Kolkata vs. ITO, Ward-5(3), Kolkata

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Hilton Commodities Pvt. Ltd. Ito, Ward 5(3) 9/12, Lal Bazar Street, Aaykar Bhavan, P-7, Mercantile Building, Block-B, Chowringhee Square, Vs. 3Rd Floor, No.10, Kolkata-700069, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aacch1011P Assessee By : Shri Soumitra Choudhury, Ar Revenue By : Shri S Datta, Cit Dr Date Of Hearing: 08.01.2025 Date Of Pronouncement : 24.02.2025

…e prompted the Assessing Officer to enquire through the Inspector to verify the statements.” Hilton Commodities Pvt. Ltd.; A.Y. 2009-10 7.6. We find that the Hon’ble Jurisdictional High Court in yet another case of Crystal Networks (P) Ltd vs CIT reported in 353 ITR 171 (Cal) had held that when the basic evidences are on record, the mere failure of the creditor to appear before the Assessing Officer cannot be the basis to make addition. The relevant observations of the Hon’ble Court are as under:- 8. Assailing the said judgment of the learned Tribunal learned counsel for the appellant submits that Income-tax Off…

Ritudhara Distributors Pvt. Ltd., Kolkata vs. I.T.O., Ward - 4(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Ito, Ward-4(1), Kolkata Aaykar Bhavan, P-7, Ritudhara Distributors Pvt. Ltd. 5/1, Clive Row, 4 Th Floor, Chowringhee Square, Vs. Kolkata-700001, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aafcr7607A Assessee By : Shri Somitra Choudhury, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 10.02.2025 Date Of Pronouncement : 24.02.2025

…to the summons issued u/s 131 of the Act and in defense he is relied on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. Ritudhara Distributors Pvt. Ltd.; A.Y. 2012-13 09. Further, the ld. AR submitted that there was no bar in issuing equity shares at a high premium during the instant assessment year and the proviso to…

Income Tax Officer Ward-7(1), Kolkata vs. Tirumala Realcon Private Limited, Kolkata

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Tirumala Relcon Private Income Tax Officer, Ward 7(1) Limited Aaykar Bhavan, P-7, 51, Shakespeare Sarani, 2 Nd Chowringhee Square, Vs. Floor,Kolkata-700017, Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aadct7159D Assessee By : Shri Siddarth Agarwal, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 26.11.2024 Date Of Pronouncement : 05.02.2025

…irectors of the assessee company. In defense of his argument he relied on the following decisions: i. CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); ii. CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); iii. Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); Tirumala Realcon Private Limited; A.Y. 2012-13 iv. ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and v. Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. vi. PCIT Vs. M/s Maniya Comfin Pvt. Ltd. ITAT/271/2023, IA No. GA/1/2023 vii. PCIT Vs. M/s Sitka Mercantile Pvt. Ltd. ITAT/68/2024, IA No. GA/2/2024 viii.…

Stepping Stones Infocom Pvt. Ltd., Kolkata vs. I.T.O., Ward - 5(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

…dinate Bench as well as Hon’ble Calcutta High Court. The relevant portion of the said order is as under: “5.1. The case of the assessee is also squarely covered by the decisions of Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd. vs. CIT 353 ITR 171 (Cal ) wherein it has held that where all the evidences were filed by the assessee proving the identity and creditworthiness of the loan transactions , the fact that summon issued were returned un-served or no body complied with them is of little significance to prove the genuineness of the transactions and identity and creditworthiness of the cr…

Income Tax Officer, Aayakar Bhawan, Poorva vs. Amodini Vyapar Pvt Ltd, Kolkata

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Amodini Vyapar Pvt. Ltd. Income Tax Officer, Kalpanalaya, Avirampur, Po- 7Th Floor, Nadt Building, Aaykar Bhavan Poorva, 110 Shantipally, Budge Budge, Vs. Kolkata-700107 Kolkata-700137, West Bengal (Appellant) (Respondent) Pan No. Aacca2332G Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Pradip Kumar Biswas, Dr Date Of Hearing: 26.11.2024 Date Of Pronouncement : 31.12.2024

…plied. The ld AR thus heavily defended the appellate order by relying on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. 07. After hearing the rival contentions and perusing the material on record, we find that the assessee has furnished before the AO as well as the Ld. CIT(A) all the evidences qua raising the share capi…

DCIT, Kolkata vs. Vinod Nirman Private Limited, Kolkata

In the result, the appeal of the Revenue is dismissed and cross objection by the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Vinod Nirman Private Dcit Limited 5Th Floor, 110, Shantipally, Vill Kalachara, Chanditala Aaykar Bhavan Poorva, Kolkata- Vs. P.O. Kolkata, Kolkata- 700107, West Bengal 712702, West Bengal (Appellant) (Respondent) Pan No. Aaccv5313J Co No. 44/Kol/2024 (Arising In Ita No. 1540/Kol/2024 For A.Y. 2013-14) Vinod Nirman Private Dcit Limited 5Th Floor, 110, Shantipally, Vill Kalachara, Chanditala Aaykar Bhavan Poorva, Kolkata- Vs. P.O. Kolkata, Kolkata- 700107, West Bengal 712702, West Bengal (Applicant) (Respondent) Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Jitendra Kantilal Surti, Dr Date Of Hearing: 03.12.2024 Date Of Pronouncement : 20.12.2024

…rified by the assessing officer pursuant to the enquiry conducted in response to the notices issued under Section 133(6) of the Act. The learned Tribunal also referred to the decision of this Court in the case of Crystal Networks Pvt. Ltd. Vs. CIT reported in 353 ITR 171 (CAL). Thus we find that there is no question of law much less substantial question of law arising for consideration in this appeal. ITA No.1540/KOL/2024& CO 44/Kol/2024 Vinod Nirman Private Limited; A.Y. 2013-14 Accordingly, the appeal fails and is dismissed." Owing to the above discussion, I cannot agree with the contention of the AO that the i…

Deputy Commissioner of Income Tax, Kolkata vs. Salasar Financial Advisory Services Pvt. Ltd., Kolkata

In the result, appeal of the revenue is dismissed

Bench: Shri Sanjay Garg & Shri Rajesh Kumari.T.A. No.1926/Kol/2024 Assessment Year: 2012-13

…hen, merely because the directors were not produced, that itself cannot be a ground for addition u/s. 68 of the Act. The Ld. CIT(A), in this respect has also referred to the decision of the Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd. 353 ITR 171 (Cal). The Ld. CIT(A) has also referred to the decision of the jurisdictional High Court in the case of PCIT Vs. Sreeleathers (2022) 143 taxmann.com 435, wherein the similar view has been taken. 11. We note that the Ld. CIT(A) has passed a detailed and exhaustive order, wherein, the Ld. CIT(A) has taken note of the factual aspects including finan…

Rapid Commotrade Pvt. Ltd., Kolkata vs. ITO, Ward-7(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…ences are furnished before the authorities. We find support from the following decisions in our conclusion namely CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC), CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom), Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol), ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020.Considering these facts and circumstances, we are inclined to set aside the order of Ld. CIT(A) and direct the AO to delete the addition. The ground of appeal is allowed. 6. So far as the second addition of Rs.…

Varima Jewels Pvt. Ltd., Kolkata vs. I.T.O., Ward - 8(2), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

…any defect or deficiency in those evidences. We find support from a series of decisions namely namely (i)CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC);(ii)CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom);(iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol);(iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. The Hon’ble Supreme Court in the case of Orissa Corporation Ltd. (supra)has observed and held as under: “That in this case the respondent had given the names and addresses of the alleged creditors. It…

M/S Titivate Vyapaar Pvt. Ltd., Kolkata vs. ITO, Ward-91(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

…31 of the Act were duly complied. In defense of his argument he relied on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. 6. The Ld. D.R strongly controverted and opposed the arguments as put forth by the Ld. A.R by submitting that the share application money was received by the assessee from various subscribers who were…

Navnita Dealcomm Pvt. Ltd., Kolkata vs. I.T.O., Ward - 6(3), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

…ld be arrived at, no question of law as such arose. The High Court was right in refusing to state a case.” 5.1. The case of the assessee is also squarely covered by the decisions of Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd. vs. CIT 353 ITR 171 (Cal ) wherein it has held that where all the evidences were filed by the assessee proving the identity and creditworthiness of the loan transactions , the fact that summon issued were returned un-served or no body complied with them is of little significance to prove the genuineness of the transactions and identity and creditworthiness of the cr…

M/S.Winwood Marketing Pvt. Ltd., Kolkata vs. ITO, Ward-6(4), Kolkata.

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 675/Kol/2023 Assessment Year: 2012-2013 M/S. Winwood Marketing Pvt. Limited,………Appellant 9/12, Lal Bazar Street, 3Rd Floor, Kolkata-700001 [Pan:Aabcw3528M] -Vs.- Income Tax Officer,………………………….……Respondent Ward-6(4), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Ankit Jalan, A.R., Appeared On Behalf Of The Assessee Shri Arun Kumar Meena, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: July 02, 2024 Date Of Pronouncing The Order: September 24, 2024 O R D E R

…ITA No. 675/KOL/2023 (A.Y. 2012-2013) M/s. Winwood Marketing Pvt. Limited THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Rajesh Kumar, Accountant Member I.T.A. No. 675/KOL/2023 Assessment Year: 2012-2013 M/s. Winwood Marketing Pvt. Limited,………Appellant 9/12, Lal Bazar Street, 3rd Floor, Kolkata-700001 [PAN:AABCW3528M] -Vs.- Income Tax Officer,………………………….……Respondent Ward-6(4), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances by: Shri Ankit Jalan, A.R., appeared on behalf of the assessee Shri Arun Kumar Meena, Addl. CIT,…

Magestic Vyapaar Pvt. Ltd., Kolkata vs. ITO, Ward11(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

…ement itself by the AO which was reproduced by the AO in the assessment order. The decisions referred to by the counsel of the assessee are as under: i) CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) ii) Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (SC) 5 I.T.A. No.902/Kol/2024 Assessment Year: 2014-15 MagesticVyapaar Pvt. Ltd. iii) ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) iv) CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) 6. The Ld. D.R on the other hand submitted that though the money was received from the group companies of the assessee and also that the…

Bright Commodeal Pvt. Ltd., Kolkata vs. ITO, Ward-2, Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…ld be arrived at, no question of law as such arose. The High Court was right in refusing to state a case.” 6.1 The case of the assessee is also squarely covered by the decisions of Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd. vs. CIT (353 ITR 171 (Cal) wherein it has held that where all the evidences were filed by the assessee proving the identity and creditworthiness of the loan transactions , the fact that summon issued were returned un- served or no body complied with them is of little significance to prove the genuineness of the transactions and identity and creditworthiness of the cr…

Monalisa Enclave Private Limited., Kolkata vs. ITO, WD-1(2), Kolkata.

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Dr. Manish Borad & Pradip Kumar Choubey

…Enclave Private Limited. k) Copy of Master Data downloaded from MCA Website in the name of Sunidhi Fincon Private Limited 5. The learned counsel has also filed decision of Kolata High Court passed in Crystal Networks(P) Ltd. Commissioner of Income tax (2013) 353 ITR 171. The Hon’ble high court has held thus- When the basic evidences are on record the mere failure of the creditor to appear cannot be basis to make addition. 6. The above all those documents relate to M/s. Rasili Barter Pvt. Ltd. Keeping in view the above documentary evidences and the facts stated above we are thus, in this view that the case is aga…

Gem Forgings Pvt. Ltd., Kolkata vs. DCIT, Cir. 8(1), Kolkata

In the result, the appeals in ITA No

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

…transactions were not proved. In defense of arguments the Ld. A.R relied on the following decisions: 1.CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) 2. DCIT vs. Rohini Builders [2002] 256 ITR 360(Guj) 3.Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (C 4. ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) 5. CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) Finally the ld AR prayed before the bench that the order of ld CIT(A) may be set aside and the AO may be directed to delete the addition. 17. The Ld. D.R while controverting the arguments of the Ld. A.R submitted that…

Gem Forgings Pvt. Ltd., Kolkata vs. DCIT, Cir. 8(1), Kolkata

In the result, the appeals in ITA No

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

…transactions were not proved. In defense of arguments the Ld. A.R relied on the following decisions: 1.CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) 2. DCIT vs. Rohini Builders [2002] 256 ITR 360(Guj) 3.Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (C 4. ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) 5. CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) Finally the ld AR prayed before the bench that the order of ld CIT(A) may be set aside and the AO may be directed to delete the addition. 17. The Ld. D.R while controverting the arguments of the Ld. A.R submitted that…

Gem Forgings Pvt. Ltd., DCIT, Cir. 8(1) vs. DCIT, Cir. 8(1), Kolkata

In the result, the appeals in ITA No

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

…transactions were not proved. In defense of arguments the Ld. A.R relied on the following decisions: 1.CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) 2. DCIT vs. Rohini Builders [2002] 256 ITR 360(Guj) 3.Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (C 4. ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) 5. CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) Finally the ld AR prayed before the bench that the order of ld CIT(A) may be set aside and the AO may be directed to delete the addition. 17. The Ld. D.R while controverting the arguments of the Ld. A.R submitted that…

Gem Forgings Pvt. Ltd., Kolkata vs. DCIT, Cir. 8(1), Kolkata

In the result, the appeals in ITA No

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

…transactions were not proved. In defense of arguments the Ld. A.R relied on the following decisions: 1.CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) 2. DCIT vs. Rohini Builders [2002] 256 ITR 360(Guj) 3.Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (C 4. ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) 5. CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) Finally the ld AR prayed before the bench that the order of ld CIT(A) may be set aside and the AO may be directed to delete the addition. 17. The Ld. D.R while controverting the arguments of the Ld. A.R submitted that…