Crystal Networks Pvt. Ltd. v. CIT

M/S. Delighted Holdings (P) Ltd., Kolkata vs. Dcir, Cir-8(2), Kolkata

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…tigation on these evidences. In defense of his argument, Ld. AR 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. M/s. Delighted Holdings Pvt. Ltd., AYs 2012-13 & 2013-14 6. The Ld. DR, on the other hand, strongly relied on the orders of authorities below by submitting that assessee has failed to furnish the req…

M/S. M.Kantilal & Co., Kolkata vs. ITO, Ward-36(1), Kol, Kolkata

In the result the appeal of the assessee is allowed

Bench: Sri Rajesh Kumar & Sonjoy Sarma

…2016 iii) M/s Lucky Agencies Pvt. Ltd. vs. ITO in ITA NO. 2501/Kol/2019 dated 23.02.2023 as discussed below: a) 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 Page 6 of 10 I.T.A. No.: 600/KOL/2023 Assessment Year:…

M/S. Bhagwati Foods Pvt. Ltd. (for the Merged Company Manis Baking Solutions Pvt. Ltd.), Kolkata vs. D.C.I.T., Circle-2(1), Kolkata

In the result, the appeal filed by the assessee in IT(SS)A No

Bench: Sri Rajesh Kumar & Sonjoy Sarmai.T.(S.S.)A. Nos.: 55, 56, 57, 58, 59 & 463/Kol/2022 Assessment Years: 2009-10, 2010-11, 2011-12, 2012-13, 2014-15 & 2015-16 M/S. Bhagwati Foods Pvt. Ltd. (For The Merged Company Manis Baking Solutions Pvt. Ltd.)......……………………………Appellant [Pan: Aadcm 6255 F] Vs. Dcit, Circle-2(1), Kolkata.....................................Respondent Appearances By: Assessee Represented By – Sh. S.M. Surana, Adv. Department Represented By – Sh. Sunil Kr. Agarwala, Cit, D/R. Date Of Concluding The Hearing : August 1St, 2023 Date Of Pronouncing The Order : August 31St, 2023 Order Per Rajesh Kumar: The Captioned Appeals Preferred By The Assessee Are Against The Order Of The Commissioner Of Income Tax (Appeals)-20, Kolkata [In Short Ld. 'Cit(A)'] Dated 08.08.2022 For The Assessment Years (In Short ‘Ay’) 2009-10, 2010-11, 2011-12, 2012-13, 2014-15 & 2015- 16. I.T.(S.S.)A. Nos.: 55, 56, 57, 58, 59 & 463/Kol/2022 Assessment Years: 2009-10, 2010-11, 2011-12, 2012-13, 2014-15 & 2015-16 M/S. Bhagwati Foods Pvt. Ltd. (For The Merged Company Manis Baking Solutions Pvt. Ltd.). It(Ss)A No. 55/Kol/2022

…ould not be produced for verification is bad in law. In defence of his argument Ld. A/R relied on the decisions of i) CIT vs. Orissa Corporation Ltd. in 159 ITR 78 (SC) ii) CIT Vs. Orchid Industries (P) Ltd. 397 ITR 136, iii) Crystal Networks (P) Ltd. Vs. CIT 353 ITR 171 & iv) M/s. Cygnus Developers India Pvt. Ltd. ITA No. 282/KOL/2022 and M/s. Lucky Agencies Pvt. Ltd. vs. ITO in ITA No. 2501/KOL/2019 dated 23.02.2023 which are discussed as under: a) In the case of Orissa Corporation Ltd. (supra) the Hon’ble Apex Court has held as under: Page 10 of 18 I.T.(S.S.)A. Nos.: 55, 56, 57, 58, 59 & 463/KOL/2022 Assessm…

ACIT, Cir.-1(1), Kolkata vs. M/S Gold Rush Sales and Service Limited, Kolkata

In the result, the appeal filed by the Revenue and CO by the assessee are dismissed

Bench: Sri Rajesh Kumar & 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…

Yash Movers (P) Ltd., Kolkata vs. ITO, Ward-7(2), Kol, Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…ified 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. Accordingly, the appeal fails and is dismissed.” 7 I.T.A. No.601/Kol/2023 Assessment Year: 2009-10 Yash Movers Pvt. Ltd. We therefore respectfully following the ratio laid down in the above decisions, set aside the…

Sankatsathi Mercantile Pvt. Ltd., Kolkata vs. ITO, Ward-5(2)., Kolkata

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

Bench: Sri Rajesh Kumar & Sonjoy Sarma

…ments furnished by the assessee as well as filed by the subscribers in response to the notice u/s 133(6) of the Act. The case of the assessee is 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…

Aahar Suppliers Pvt. Ltd., Kolkata vs. ITO, Ward - 9(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “ C” BENCH: KOLKATA "ी संजय गग" "या"यक सद"यएवं "ी राजेश कुमार, लेखा सद"य के सम" [Before Shri Sanjay Garg, Judicial Member & Shri Rajesh Kumar, Accountant Member] I.T.A. No. 1931/Kol/2018 Assessment Year : 2013-14 Aahar Suppliers Pvt. Ltd . Vs. ITO, Ward-9(1), Kolkata (PAN: AAJCA 2363 E) Appellant / (अपीलाथ") Respondent / (!"यथ") 18.05.2023 Date of Hearing / सुनवाई क% "त'थ Date of Pronouncement/ 01.08.2023 आदेश उ*घोषणा क% "त'थ For the Appellant/ Shri Saumitra Choudhury, Advocate "नधा"0रती क% ओर से For the Respondent/ Shri Vijay…

ITO, Ward-6(2), Kolkata vs. M/S Goodpoint Estates Pvt. Ltd., Kolkata

In the result, the appeal of the revenue and cross objection of the assessee are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…nd v) ITO vs. M/s Coxis Finance & Investment Pvt. Ltd. in ITA No. 649/Kol/2020 for AY 2012-13 dated 10.11.2022. 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 5 I.T.A. No. 58/Kol/2021 C.O. No. 19/Kol/2022 Assessmen…

Sangita Developers Pvt.Ltd, Kolkata vs. ITO, Ward-9(4)., Kolkata

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

…e assessee company and they also are having regular business operations. The assessee placed reliance on the following decisions of the ITAT Kolkata, wherein the decision of the Hon’ble Calcutta High Court in the case of Crystal Networks P. Ltd. v. CIT (2013) 353 ITR 171 (Cal.)(HC), has been followed to hold that no adverse inference can be drawn due to the non-appearance of the shareholders:-  ITO vs. M/s. Tara Re-Rolling Pvt. Ltd. ITA No. 49/K/2021, order dt. 01/05/2023  Atlantic Dealers Pvt. Ltd. vs. ITO; ITA No. 530/Kol/2020; dated 08/05/2023 I.T.A. No. 175/Kol/2023 Assessment Year: 2012-13 Sangeeta Develo…

Yuthika Commercial Pvt. Ltd., Kolkata vs. DCIT, Circle - 9(2), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

…A). In defense of argument the Ld. A.R relied on the following decisions: 1.CIT vs. Orissa Corporation Ltd. in [1986] 159 ITR 78 (SC) 4 I.T.A. No.565/Kol/2018 Assessment Year: 2012-13 Yuthika Commercial Pvt. Ltd. 2.Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (C 3. ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012) 4. CIT Vs Orchid Industries (P) Ltd 397 ITR 136 (Bom) 6. The Ld. D.R on the other hand relied on the orders of authorities below by submitting that the assessee has failed to prove identity and creditworthiness of the investors and genuineness of the transactions and just…

M/S. Moontree Niketan Pvt.Ltd., Kolkata vs. ITO, Ward4(1)., Kolkata

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13 Moontree Niketan Pvt. Ltd. Income Tax Officer-4(1), 5, Clive Row, Dalhousie, Vs. Kolkata. Kolkata-700001. (Pan: Aahcm8056A) (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B SMC” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 Moontree Niketan Pvt. Ltd. Income Tax Officer-4(1), 5, Clive Row, Dalhousie, Vs. Kolkata. Kolkata-700001. (PAN: AAHCM8056A) (Appellant) (Respondent) Present for: Appellant by : Shri Manoj Kataruka, AR Respondent by : Smt. Ranu Biswas, Addl. CIT, DR Date of Hearing : 20.04.2023 Date of Pronouncement : 21.06.2023 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This captioned appeal filed by the assessee is against the order of Ld. CIT(A), National…

M/S Joy Consolidated Pvt Ltd, Kolkata vs. ITO, Ward-3(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleassessment Year: 2012-13 M/S. Joy Consolidated Pvt. Ltd. Ito, Ward-3(1), Kolkata C/O. Rajesh Mohan & Associates, Unit No. 18 5Th Floor, Vs. Bagati House, 34, Ganesh Chandra Avenue. Kolkata-13 Pan: Aaccm 0673 Q (Appellant) (Respondent) Present For: Appellant By : Shri Sunil Surana, Ca Respondent By : Shri G. Hukugha Sema, Cit Date Of Hearing : 30.05.2023 Date Of Pronouncement : 12.06.2023 O R D E R Per Rajesh Kumar, Am: This Appeal Of The Assessee For The Assessment Year 2012-13 Is Directed Against The Order Dated 01.10.2019 Passed By The Ld. Commissioner Of Income-Tax (Appeals)-17, Kolkata [Hereinafter Referred To As ‘The Ld. Cit(A)’].

…ish genuineness of the parties such as PAN ,financial and bank statements showing share application money . 8. 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 5 M/s. Joy Consolidated Pvt. Ltd. A.Y. 2012-13 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 transacti…

Shanker Credits Pvt. Ltd., Kolkata vs. I.T.O., Ward - 1(2), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Arma]

…n could be arrived at, no question of law as such arose. The High Court was right in refusing to state a case.” 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 8 I.T.A. No. 132/Kol/2023 Assessment Year: 2008-09 Shanker Credits Pvt. Ltd. prove t…

I.T.O., Ward-9(3), Kolkata vs. M/S Reward Hirise Pvt. Ltd., Kolkata

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…ver, the Tribunal reversed the decision of the Ld. CIT(A) and upheld the AO's decision, which action of Tribunal was challenged by the Hon'ble High Court, Calcutta in the case of Crystal Networks (P.) Ltd. v. CIT [2013] 35 taxmann.com 432/216 Taxman 151 (Mag.)353 ITR 171 wherein the Tribunal's decision was overturned and decision of Ld. CIT(A) upheld and the Hon'ble High Court has held that when the basic evidences are on record the mere failure of the creditor to appear cannot be basis to make addition. The court held as follows: 8. Assailing the said judgment of the learned Tribunal learned counsel for the appe…

I.T.O., Ward-9(3), Kolkata vs. M/S Reward Hirise Pvt. Ltd., Kolkata

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

…ver, the Tribunal reversed the decision of the Ld. CIT(A) and upheld the AO's decision, which action of Tribunal was challenged by the Hon'ble High Court, Calcutta in the case of Crystal Networks (P.) Ltd. v. CIT [2013] 35 taxmann.com 432/216 Taxman 151 (Mag.)353 ITR 171 wherein the Tribunal's decision was overturned and decision of Ld. CIT(A) upheld and the Hon'ble High Court has held that when the basic evidences are on record the mere failure of the creditor to appear cannot be basis to make addition. The court held as follows: 8. Assailing the said judgment of the learned Tribunal learned counsel for the appe…

Acme Chem Limited, Kolkata vs. NFAC, Delhi/ D.C.I.T., Circle-11(1), Kolkata

Bench: Sri Rajpal Yadav & Dr. Manish Borad

…307 ITR 334 (Delhi) Page 16 of 67 I.T.A. Nos.: 641, 650 & 660/KOL/2022 Assessment Years: 2012-13, 2017-18 & 2018-19 Acme Chem Limited. 14. Decision of Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd Vs Commissioner of Income-tax [2013] 353 ITR 171 (Cal) 15. Decision of Hon’ble Supreme Court in the case of Andaman Timber Industries Vs CCE [2016] 38 GSTR 117 (SC). 15. On the other hand, ld. D/R vehemently argued supporting the orders of both the lower authorities. 16. We have heard rival contentions and perused the records placed before us. The assessee is aggrieved to the addition made u/s…