Crystal Networks Pvt. Ltd. v. CIT

353 ITR 171High Court2013#789 most cited

What is Crystal Networks Pvt. Ltd. v. CIT authority for?

When an assessee furnishes sufficient evidence proving the identity, genuineness, and creditworthiness of loan or share application transactions under Section 68, the Assessing Officer cannot make an addition solely because summons issued to the creditors or subscribers were unserved or went uncomplied with. The inability of the tax authorities to secure the attendance or response of third parties does not automatically negate the evidence provided by the assessee.

130

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2026.

Also referred to as

Crystal Networks Pvt. Ltd. v. CIT · 353 ITR 171 · Section 68 · Section 131 · Section 133(6) · cash credit addition · share application money · identity creditworthiness genuineness · third party non-compliance · summons unserved · assessee's burden of proof

Sections most often in play

Section 68Section 131Section 133(6)Section 143(3)Section 142(1)Section 143(2)Section 147Section 148

Issues it is cited on

section 106creditworthiness of the creditorshare capital and share premiumbogus share capitalsource of sourceprincipal officershare application moneymere change of opinionsection 131genuineness of the transactionsection 133(6)addition u/s 68

Judgments citing Crystal Networks Pvt. Ltd. v. CIT

Acme Chem Limited, Kolkata vs. A.C.I.T., Circle-10(1), Kolkata

ITA 650/KOL/2022[2017-2018]Status: DisposedITAT Kolkata31 Mar 2023AY 2017-2018

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 68

…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…

Acme Chem Limited, Kolkata vs. D.C.I.T., Circle-10(1), Kolkata

ITA 641/KOL/2022[2012-2013]Status: DisposedITAT Kolkata31 Mar 2023AY 2012-2013

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 68

…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…

Laxmi Srijan Pvt. Ltd., Kolkata vs. I.T.O., Ward-9(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 74/KOL/2023[2012-2013]Status: DisposedITAT Kolkata29 Mar 2023AY 2012-2013

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 68

…he authorities below proving the identities , creditworthiness of the investors and genuineness of the transactions. 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…

Inspa Interior & Exterior Products Pvt. Ltd., Kolkata vs. ITO, Ward-7(2), Kolkata

In the result, appeal of the assessee is allowed

ITA 529/KOL/2020[2012-13]Status: DisposedITAT Kolkata23 Feb 2023AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

For Appellant: Shri Miraj D. Shah, ARFor Respondent: Shri Vijay Kumar, Addl. CIT, DR
Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 Inspa Interior & Exterior Income Tax Officer, Ward-7(2) Products Pvt. Ltd. Kolkata Diamond Prestige Building Unit: 409 41A, Acharya Vs. Jagdish Chandra Bose Road, 4th floor, Kolkata-700017. (PAN: AADCP4997K) (Appellant) (Respondent) Present for: Appellant by : Shri Miraj D. Shah, AR Respondent by : Shri Vijay Kumar, Addl. CIT, DR Date of Hearing : 09.02.2023 Date of Pronouncement : 23.02.2023 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appe…

M/S Lucky Agency Pvt Ltd, Kolkata vs. I.T.O, Ward-1(4), Kolkata

In the result, the appeal of the assessee is allowed

ITA 2501/KOL/2019[2012-13]Status: DisposedITAT Kolkata23 Feb 2023AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 143(3)Section 68

…ments the ld. A.R relied on the decision of Co-ordinate Bench of Kolkata in the case of M/s Starland Vinimay pvt. Ltd. vs. ITO, in ITA No. 574/Kol/2020 dated 24.01.2023, decision of Hon’ble Calcutta High Court in the case of Crystal Networks Pvt. Ltd. vs. CIT 353 ITR 171 (Cal ) and the decision of the coordinate bench by ITO Vs M/s Cygnus Developers India Pvt. Ltd. (ITA No. 282/Kol/2012). The Ld. A.R. also referred to various other decisions to support his arguments that no addition can be made u/s 68 of the Act where identity and creditworthiness of the investors and genuineness of the transactions are establish…

M/S. Ajit Vanijya Pvt. Ltd., Kolkata vs. ITO, Ward - 4(3), Kolkata

In the result, appeal of the assessee is allowed

ITA 2448/KOL/2017[2012-13]Status: DisposedITAT Kolkata23 Feb 2023AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

For Appellant: Shri Sunil Surana, ARFor Respondent: Shri Subhrajyoti Bhattacharjee, CIT, DR
Section 131Section 133(6)Section 143(3)Section 68

…identity, genuineness, creditworthiness is furnished on 12 ITA 2448/Kol/2017 Ajit Vanijya Pvt. Ltd. AY 2012-13 record. He placed reliance on the decision of Hon’ble jurisdictional Calcutta High Court in the case of Crystal Networks Pvt. Ltd. v. CIT in [2013] 353 ITR 171 (Cal).Ld. Counsel thus urged before the bench to delete the addition made by the AO and confirmed by the Ld. CIT(A). 6. To further buttress his submissions, Ld. Counsel placed reliance on the decision of Hon’ble Jurisdictional High Court of Calcutta in the case of CIT v.DatawarePvt. Ltd.in ITAT No. 263 of 2011 dated 21.09.2011 wherein Hon’ble jur…

DCIT- Circle- 1, Thane vs. Darshan Enterprises, Thane

In the result, the both appeals filed by the revenue stands dismissed

ITA 463/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Jan 2023AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

For Appellant: Shri Shashi TulsianFor Respondent: Ms. Mahita Nair, Sr AR
Section 133(6)Section 143(3)Section 271(1)(c)Section 68

…eted by Ld. CIT(A). However, 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. Commissioner of Income tax 353 ITR 171. The Hon’ble High Court overturning the Tribunal’s decision and upholding the decision of Ld. CIT(A) has held that when the basic evidences are filed on record, the mere failure of the creditor to appear cannot be basis to make addition. The Hon’ble High Court held as follows: 8. Assailing the said judgment of the learned Tribunal learned counse…

DCIT- Circle- 1, Thane vs. Darshan Enterprises, Thane

In the result, the both appeals filed by the revenue stands dismissed

ITA 462/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Jan 2023AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

For Appellant: Shri Shashi TulsianFor Respondent: Ms. Mahita Nair, Sr AR
Section 133(6)Section 143(3)Section 271(1)(c)Section 68

…eted by Ld. CIT(A). However, 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. Commissioner of Income tax 353 ITR 171. The Hon’ble High Court overturning the Tribunal’s decision and upholding the decision of Ld. CIT(A) has held that when the basic evidences are filed on record, the mere failure of the creditor to appear cannot be basis to make addition. The Hon’ble High Court held as follows: 8. Assailing the said judgment of the learned Tribunal learned counse…

Navroop Commercial Pvt. Ltd., Kolkata vs. I.T.O., Ward-13(3), Kolkata

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

ITA 613/KOL/2019[2013-14]Status: DisposedITAT Kolkata11 Jan 2023AY 2013-14

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 133(6)Section 68

…prospectively as has been held by the Hon’ble Bombay High Court in the case of Gangadeep Infrastructure (supra). 7. 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 10 I.T.A. Nos. 151 & 613/Kol/2019 Assessment Year: 2012-13 & 2013-14 Navroop Commercial Pvt. Ltd. summon issued were returned un-served or no body complied with them is of little si…

Navroop Commercial Pvt. Ltd., Kolkata vs. I.T.O., Ward-13(3), Kolkata

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

ITA 151/KOL/2019[2012-13]Status: DisposedITAT Kolkata11 Jan 2023AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 133(6)Section 68

…prospectively as has been held by the Hon’ble Bombay High Court in the case of Gangadeep Infrastructure (supra). 7. 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 10 I.T.A. Nos. 151 & 613/Kol/2019 Assessment Year: 2012-13 & 2013-14 Navroop Commercial Pvt. Ltd. summon issued were returned un-served or no body complied with them is of little si…

ITO, WD.-9(1), Kolkata vs. M/S Mainak Suppliers Pvt. Ltd, Kolkata

In the result, appeal of the revenue is dismissed

ITA 38/KOL/2021[2009-10]Status: DisposedITAT Kolkata28 Dec 2022AY 2009-10

Bench: Shri Sonjoysarma & Shri Girish Agrawalassessment Year: 2009-10

For Appellant: Shri HukumaSema, CITFor Respondent: Shri Miraj D. Shah, AR
Section 131Section 131(1)Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA आयकर अपीलीय अधीकरण, "यायपीठ “C” कोलकाता, BEFORE SHRI SONJOYSARMA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2009-10 Income Tax Officer Mainak Suppliers Pvt. Ltd. Ward-9(1) Vs. 178, M. G. Road Kolkata Kolkata-700007 (PAN: AAFCM6497F) (Appellant) (Respondent) Present for: Appellant by : Shri HukumaSema, CIT Respondent by : Shri Miraj D. Shah, AR Date of Hearing : 02.11.2022 Date of Pronouncement : 28.12.2022 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the revenue is against the order of CIT(A)-7, K…

A J Mill Store Agency Private Limited, Kolkata vs. I.T.O., Ward-2(1), Kolkata

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

ITA 552/KOL/2021[2012-13]Status: DisposedITAT Kolkata28 Nov 2022AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131oSection 143(3)Section 147Section 148

…round , such as, it was not a genuine transaction for other reasons but has simply rejected the claim on the ground as if there was no such transaction.” e) In the case of Hon’ble Jurisdictional High Court in case of Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (Cal) wherein it has held as under: “10. We find considerable force of the submissions of the learned counsel for the appellant that the Tribunal has merely noticed that since the summons issued before assessment returned unserved and no one came forward to prove. Therefore, it shall be assumed that the 12 I.T.A. Nos.551 & 552/Kol/2021 Assessmen…

A J Mill Store Agency Private Limited, Kolkata vs. I.T.O., Ward-2(1), Kolkata

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

ITA 551/KOL/2021[2012-13]Status: DisposedITAT Kolkata28 Nov 2022AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131oSection 143(3)Section 147Section 148

…round , such as, it was not a genuine transaction for other reasons but has simply rejected the claim on the ground as if there was no such transaction.” e) In the case of Hon’ble Jurisdictional High Court in case of Crystal Networks (P)Ltd vs CIT reported in 353 ITR 171 (Cal) wherein it has held as under: “10. We find considerable force of the submissions of the learned counsel for the appellant that the Tribunal has merely noticed that since the summons issued before assessment returned unserved and no one came forward to prove. Therefore, it shall be assumed that the 12 I.T.A. Nos.551 & 552/Kol/2021 Assessmen…

M/S Silvertoss Realtors Pvt. Ltd., Kolkata vs. I.T.O., Ward-9(4), Kolkata

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

ITA 2282/KOL/2019[2012-13]Status: DisposedITAT Kolkata28 Nov 2022AY 2012-13

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 131Section 133(6)Section 143(2)Section 143(3)Section 250Section 68

…Year: 2012-13 M/s. Silvertoss Realtors Pvt. Ltd. 4. Lovely Exports 216 CTR 195 5. CIT vs. Down Town Hospitals Pvt. Ltd. 267 ITR 439 (Gauhati) 6. CIT vs. Gagandeep Infrastructure (P) Ltd. 80 taxmann.com 272 (Bombay) 7. Crystal Networks (P.) Ltd. vs. CIT [2013] 353 ITR 171 (Calcutta) 8. CIT vs. Orissa Corporation (P) Ltd. 159 ITR 78” 8. On the other hand, ld. D/R vehemently argued supporting the order of ld. CIT(A). 9. We have heard rival contentions and perused the records placed before us. In the three grounds raised by the assessee, the common grievance is that ld. CIT(A) erred in confirming the addition made by…

Sejal Jewellers Pvt. Ltd., Surat vs. The Income Tax Officer, Ward-2(1)(2), Surat

In the result, appeal of the assessee is allowed

ITA 435/AHD/2017[2012-13]Status: DisposedITAT Surat28 Feb 2022AY 2012-13

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.435/Ahd/2017 (िनधा"रणवष" / Assessment Year: (2012-13) (Virtual Court Hearing) Sejal Jewellers Pvt. Ltd, Income Tax Officer, Ward-2(1)(2), V Ug-4/5 Rangila Park, Ghod Dod Surat, Aaykar Bhavan, Majura Gate, S. Road, Surat-395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqcs 8686 P (Appellant ) (Respondent)

For Appellant: Shri Rasesh Shah, CAFor Respondent: Shri H.P. Meena– CIT-DR
Section 131Section 131(1)(d)Section 133(6)Section 143(3)Section 68

…and those materials disclosed by the assessee prompted the Assessing Officer to enquire through the Inspector to verify the statements.” 18. Further, the Hon'ble High Court at Calcutta in the case of Crystal Networks (P.) Ltd. v. Commissioner of Income-tax (353 ITR 171), on the issue of unexplained cash credits, 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 appellant submits that Income-tax Officer did not consider the material…

Bramhani Industries Limited, Jammalamadugu, Kadapa vs. DCIT, Circle-1(3), Hyderabad

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 512/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…d by the Hon’ble Supreme Court” 28. Similar view was taken by, the Hon’ble Rajasthan High Court in the case CIT vs. Jalan Hard Coke Limited reported in 95 taxmann.com 330, Hon’ble Kolkata High Court in the case of Crystal Networks Pvt Ltd vs. CIT reported in 353 ITR 171, Hon’ble Delhi High Court in the case PCIT vs. Hitech Residency Private Limited reported in 96 Taxmann.com 402, Hon’ble Bombay High Court in the case PCIT vs. Paradise India Shipping Pvt Ltd reported in 84 Taxmann.com 58, Hon’ble Madhya Pradesh High Court in the case CIT vs. Chain House International Private Limited reported in 98 Taxmann.com 47.…

DCIT, Circle-1(2), Hyderabad vs. Bramhani Industries Limited, Jammalamadugu, Ysr Dist.

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 398/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…d by the Hon’ble Supreme Court” 28. Similar view was taken by, the Hon’ble Rajasthan High Court in the case CIT vs. Jalan Hard Coke Limited reported in 95 taxmann.com 330, Hon’ble Kolkata High Court in the case of Crystal Networks Pvt Ltd vs. CIT reported in 353 ITR 171, Hon’ble Delhi High Court in the case PCIT vs. Hitech Residency Private Limited reported in 96 Taxmann.com 402, Hon’ble Bombay High Court in the case PCIT vs. Paradise India Shipping Pvt Ltd reported in 84 Taxmann.com 58, Hon’ble Madhya Pradesh High Court in the case CIT vs. Chain House International Private Limited reported in 98 Taxmann.com 47.…

Dolphin Goods Pvt. Ltd., Kolkata vs. I.T.O., Ward-6(1), Kolkata

ITA 240/KOL/2020[2009-10]Status: DisposedITAT Kolkata05 May 2021AY 2009-10

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 127Section 131Section 133(6)Section 142(1)Section 143(3)Section 144Section 147Section 263

…by Ld. CIT(A). However, the Tribunal reversed the decision of the Ld. CIT(A) and upheld the AO’s decision, which action of Tribunal was challenged before the Hon'ble High Court, Calcutta in the case of Crystal Networks (P.) Ltd. v. Commissioner of Income-tax 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 Hon’ble High Court held as follows: 8. Assailing the said judgment of the learned Tribunal learned counse…

J.C.I.T.(OSD), Circle-12(1), Kolkata vs. M/S Werit Global Ltd., Kolkata

ITA 55/KOL/2020[2014-15]Status: DisposedITAT Kolkata13 Apr 2021AY 2014-15

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…by Ld. CIT(A). However, the Tribunal reversed the decision of the Ld. CIT(A) and upheld the AO’s decision, which action of Tribunal was challenged before the Hon'ble High Court, Calcutta in the case of Crystal Networks (P.) Ltd. v. Commissioner of Income-tax 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 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 failure of the…

Wearit Global Ltd., Kolkata vs. DCIT, Circle - 12(1), Kolkata

ITA 2191/KOL/2018[2015-16]Status: DisposedITAT Kolkata13 Apr 2021AY 2015-16

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…by Ld. CIT(A). However, the Tribunal reversed the decision of the Ld. CIT(A) and upheld the AO’s decision, which action of Tribunal was challenged before the Hon'ble High Court, Calcutta in the case of Crystal Networks (P.) Ltd. v. Commissioner of Income-tax 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 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 failure of the…