Principal CIT v. Sreeleathers

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)- 3(1), KOLKATA, KOLKATA vs. AUXINITE SUPPLIERS PRIVATE LIMITED, KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Pan No. Aaecb3974H Co No. 11/Kol/2025 (Arising In Ita No. 139/Kol/2025 For A.Y. 2019-20) Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Assessee By : S/Shri Rajeeva Kumar & Giridhar Dhelia, Ars Revenue By : Shri V. Vidhyadhar, Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 02.04.2026

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM Dy. Commissioner of Income Auxinite Suppliers Private Tax (CC)-3(1) Limited 4th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) PAN No. AAECB3974H CO No. 11/KOL/2025 (Arising in ITA No. 139/KOL/2025 for A.Y. 2019-20) Dy. Commissioner of Income Auxinite Suppliers Private Tax (CC)-3(1) Limited 4th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- K…

DCIT, CC-2(3), KOLKATA, KOLKATA vs. DAILMER INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: SHRI RAJESH KUMAR (Accountant Member)

…is no scope of treating unexplained cash credit when there is repayment of loan in subsequent years 1 The Hon'ble Gujarat High Court in CIT Vs Apex Therm Packaging Private Limited 222 Taxman 125 2 The Hon'ble Calcutta High Court in PCIT 9 Vs. M/s Sreeleathers 448 ITR 332 3. The Hon'ble Calcutta High Court in the case of PCIT Vs. Overtop Marketing (P.) Ltd [2023] 148 taxmann.com 94 (Calcutta) [03-01-2023] 4 The Hon'ble ITAT Kolkata in Poddar Realtors Vs ITO. (ITA 265/Kol/2023 dated 22.06.2023 5. The Hon'ble Gujarat High Court in the case of PCIT Vs. Ambe Tradecorp (P) Ltd [2022] 145 taxmann.com 27 (Gujarat) Conclu…

DCIT, CC-2(3), KOLKATA, KOLKATA vs. DAILMER INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: SHRI RAJESH KUMAR (Accountant Member)

…is no scope of treating unexplained cash credit when there is repayment of loan in subsequent years 1 The Hon'ble Gujarat High Court in CIT Vs Apex Therm Packaging Private Limited 222 Taxman 125 2 The Hon'ble Calcutta High Court in PCIT 9 Vs. M/s Sreeleathers 448 ITR 332 3. The Hon'ble Calcutta High Court in the case of PCIT Vs. Overtop Marketing (P.) Ltd [2023] 148 taxmann.com 94 (Calcutta) [03-01-2023] 4 The Hon'ble ITAT Kolkata in Poddar Realtors Vs ITO. (ITA 265/Kol/2023 dated 22.06.2023 5. The Hon'ble Gujarat High Court in the case of PCIT Vs. Ambe Tradecorp (P) Ltd [2022] 145 taxmann.com 27 (Gujarat) Conclu…

MESCAB INDIA PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeals of the assessee are allowed

Bench: the AO all the evidences qua these unsecured loans such as names, addresses, PANs, audited accounts, confirmations etc. The also AO issued letters to all the loan creditors u/s 133(6) of the Act which were all replied by the loan creditors by furnishing all the details such as copies of the ITRs, audited balance sheets, bank statements, loan confirmation etc. as called for by the AO. However, the AO, by making casual remarks about money laundering and rejecting all the evidences, treated th

…s and even the loans creditors have furnished all the details as called for mbyn the AO , no addition u/s 68 of the Act can be made. The case of the assessee is squarely covered by the decision of jurisdictional High Court in the case of PCIT Vs. Sreeleather [448 ITR 332] dated 14.07.2022, wherein Hon’ble Court has held : ‘In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by the Commissioner (Appeals). The Tribunal re-appreciated the factual position and agreed with the Commissioner (Appeals). The Tribunal apart from taking i…

MESCAB INDIA PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeals of the assessee are allowed

Bench: SHRI RAJESH KUMAR (Accountant Member)

…s and even the loans creditors have furnished all the details as called for mbyn the AO , no addition u/s 68 of the Act can be made. The case of the assessee is squarely covered by the decision of jurisdictional High Court in the case of PCIT Vs. Sreeleather [448 ITR 332] dated 14.07.2022, wherein Hon’ble Court has held : ‘In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by the Commissioner (Appeals). The Tribunal re-appreciated the factual position and agreed with the Commissioner (Appeals). The Tribunal apart from taking i…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(3), KOLKATA, KOLKATA vs. ADHUNIK INFRASTRUCTURES PRIVATE LIMITED , KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 1069/KOL/2024 Assessment Year: 2015-16 DCIT, Central Circle-3(3), Adhunik Infrastructures Kolkata Vs. Private Limited (Appellant) (Respondent) PAN: AADCA1315L Appearances: Department represented by : S.B. Chakraborthy, Sr. DR. Assessee represented by : Miraj D. Shah, AR. Date of concluding the hearing : 16-January-2026 Date of pronouncing the order : 09-February-2026 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the Revenue is against the ord…

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. RAJ GOENKA , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2022-23 Dcit, Cc-4(3), Kolkata……...……..……….………….……….……….……Appellant Vs. Raj Goenka…………………………………………..…….....……...…..…..Respondent 10Th Floor Magma House, 24, Park Street Park Street, Kol-16. [Pan: Adlpg8181C] Appearances By: Shri S B Chakraborthy, Addl. Cit, Appeared On Behalf Of The Appellant. Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 04, 2025 Date Of Pronouncing The Order : February 05, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 12.04.2025 Of The Cit(Appeals)-27, Kolkata (Hereinafter Referred To As The “Cit(A)”) Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2022–23. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 08 Days. The Revenue Has Filed A Petition For Condonation Of The Delay. After Considering The Reasons Cited In The Petition For Condonation Of Delay, We Find That The Reasons Are Valid & Consequently, The Delay In Filing The Appeal Is Hereby Condoned & We Proceed To Dispose Of The Appeal On Merits.

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member Assessment Year: 2022-23 DCIT, CC-4(3), Kolkata……...……..……….………….……….……….……Appellant vs. Raj Goenka…………………………………………..…….....……...…..…..Respondent 10th Floor Magma House, 24, Park Street Park Street, Kol-16. [PAN: ADLPG8181C] Appearances by: Shri S B Chakraborthy, Addl. CIT, appeared on behalf of the appellant. Shri Miraj D. Shah, AR, appeared on behalf of the Respondent. Date of concluding the hearing : December 04, 2025 Date of…

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. GOLDEN GOENKA CREDIT PRIVATE LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member Assessment Year: 2022-23 DCIT, Central Circle -4(3), Kolkata.…..………………….……….……….……Appellant vs. Golden Goenka Credit Pvt. Ltd ………..…………...……………………..…..Respondent 24 Magma House, 10th Floor, 24, Park Street, Park Centre, W.B. – 700016.. [PAN: AACCR3964K] Appearances by: P N Barnwal, CIT - DR, appeared on behalf of the appellant. Miraj D Shah, AR appeared on behalf of the Respondent. Date of concluding the hearing : November 11, 2…

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. ARUN ENGINEERING UDYOG PRIVATE LIMITED , KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Central Circle 4(3), Arun Engineering Udyog Kolkata Private Limited Aaykar Bhawan Poorva, 151, A, Cotton Street Vs. 110 Shantipally, Kolkata-700107 Burrabazaar West Bengal Kolkata-700007, West Bengal (Appellant) (Respondent) Pan No. Aalca8127A Assessee By : Shri Miraj D. Shah, Ar Revenue By : Shri Ruchika Sharma, Dr Date Of Hearing: 04.12.2025 Date Of Pronouncement: 18.12.2025 O R D E R

…and therefore, making the addition merely on the ground that the creditors were shell companies, which is not correct. The ld. CIT (A) has rightly deleted the addition in respect of unsecured loan of ₹46.00 by relying on the decision of PCIT Vs. Sreeleather [448 ITR 332] dated 14.07.2022 wherein Hon’ble Court has held : ‘In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by the Commissioner (Appeals). The Tribunal re-appreciated the factual position and agreed with the Commissioner (Appeals). The Tribunal apart from taking in…

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. RAJA SHELTERS PRIVATE LIMITED, KOLKATA

In the result, the appeal of the revenue is dismissed

…{ "clean_text": "आयकर अपीलीय अधिकरण, कोलकाता पीठ, कोलकाता\nIN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH KOLKATA\nBefore Shri Rajesh Kumar, Accountant Member and\nShri Pradip Kumar Choubey, Judicial Member\nITA No.1760/Kol/2025\n Assessment Year: 2022-23\nDCIT, Central Circle-4(3), Kolkata..\nAppellant\nvs.\n.........Respondent\nRaja Shelters Pvt. Ltd..\n25A, S. P. Mukherjee Road,\nKol- 700025.\n[PAN: AADCR5073Q]\nAppearances by:\nShri Sanat Kr. Raha, CIT-DR, appeared on behalf of the appellant.\nShri Miraj D. Shah, AR, appeared on behalf of the Respondent.\nDate of concluding the hearing : October 11, 2025\nD…

PALAK ALLOYS PVT. LTD.,,RAJGANJ vs. DCIT, CIRCLE 3(1),, SILIGURI

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Palak Alloys Pvt. Ltd. C/O Subash Agarwal & Dcit, Circle 3(1) Associates, Advocates, Siddha Aayakar Bhawan, Gibson,1, Gibson Lane, Suite Matigara, Paribahan Nagar, Vs. 213, 2Nd Floor, Kolkata-700069, Siliguri-734101, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaecp8679B Assessee By : Shri Siddharth Agrawal, Ar Revenue By : Shri S.B. Chakraborthy, Dr Date Of Hearing: 18.11.2025 Date Of Pronouncement: 03.12.2025

…inted any defect or deficiency in the same. Therefore, the order passed by the ld. CIT (A) cannot be sustained on this issue. The case of the assessee find support from the decision in case of PCIT vs. Sreeleathers [2022] 143 taxmann.com 435 (Calcutta)/[2022] 448 ITR 332 (Calcutta)[14- 07-2022], wherein it has been held as under:- Palak Alloys Pvt. ltd; A.Y. 2019-20. “‘In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by the Commissioner (Appeals). The Tribunal re-appreciated the factual position and agreed with the Commission…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(1), KOLKATA, KOLKATA vs. AXIS OVERSEAS LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Tax, Cc 1(1), Kolkata Axis Overseas Limited Aaykar Bhawan Poorva, 21A, Shakespeare Sarani, Vs. 3Rd Floor, Kolkata-700107, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aagca7497L Assessee By : Shri Siddharth Agarwal, Ar Revenue By : Shri P.N. Barnwal, Dr Date Of Hearing: 13.11.2025 Date Of Pronouncement: 03.12.2025

…e head of sundry debtors by the loan creditors whereas the assessee has shown the amount of unsecured loan and sundry creditors separately. The learned CIT (A) after relying on the decision of PCIT vs. Sreeleathers [2022] 143 taxmann.com 435 (Calcutta)/[2022] 448 ITR 332 (Calcutta)[14-07-2022], allowed the appeal of the assessee. After perusing the order of learned CIT (A) and the facts on record, we are inclined to hold that the learned CIT (A) has Axis Overseas Limited; A.Y. 2013-14 passed a very reasoned order which does not require any interference at our end. Accordingly, we upheld the same on this issue by…

LUMINO INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CC - 2(3),, KOLKATA

In the result, the appeal of the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am\Nand\Nshri Pradip Kumar Choubey, Jm\Nita No. 2083/Kol/2025\N(Assessment Year: 2020-21)\Nlumino Industries Limited\Nunit No.12/4, Merlin Acropolis,\N1858/1, Rajdanga Main Road,\Nkolkata Township,\Nkolkata-700107, West Bengal\N(Appellant)\Nvs.\Ndcit, Cc 2(3)\Naayakar Bhawan Poorva,\N110, Shanti Pally,\Ne.M. Bypass, Kolkata-700107,\Nwest Bengal\N(Respondent)\Npan No. Aabcl0720E\Nassessee By\N:\Nshri Soumitra Choudhury &\Nms. Nandini Sureka, Ars\Nrevenue By\N:\Nshri P.N. Barnwal, Dr\Ndate Of Hearing:\N12.11.2025\Ndate Of Pronouncement:\N02.12.2025\Norder\Nper Rajesh Kumar, Am:\N1. This Is An Appeal Preferred By The Assessee Against The Order Of The Commissioner Of Income-Tax (Appeals), Kolkata-26, (Hereinafter Referred To As The “Ld. Cit(A)"] Dated 14.07.2025 For The Ay 2020-21.\Nthe Issue Raised In Ground No.2 Is Against The Order Of Learned Cit (A) Confirming The Addition Of ₹15,00,000/- As Made By The Learned Ao On Account Of Unexplained Cash Credit U/S 68 Of The Act In Respect Of Loan Taken From The Eapl.\N2.

…sets or incurred very low expenses is not the criteria as has been held in the case of CIT vs. Ms. Mayawati 338 ITR 563 dated 03.08.2011. Also, the Hon'ble Hurisdictional High Court in case of PCIT VS. Sreeleathers [2022] 143 taxmann.com 435 (Calcutta)/[2022] 448 ITR 332 (Calcutta)[14-07-2022], has held that where the assessee has furnished all the evidences with the AO and then no addition can be made if /ao has not done any enquiry. The Hon'ble Court has held as under:\n“`In the absence of any such finding, it is held that the order passed by the Assessing Officer was utterly perverse and rightly interfered by…

D.C.I.T., CC - 3(1),, KOLKATA vs. GLIX SECURITIES PRIVATE LIMITED, KOLKATA

In the result, the CO of the assessee and Revenue’s appeal are dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pardip Kumar Choubey, Jm Dcit Glix Securities Private Limited 110, Shanti Pally, 1St Floor 1, Grant Lane, Aayakar Bhawan Poorva, Vs. Kolkata-700012, West Bengal Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aabcg1844J Co No. 66/Kol/2025 (Arising In Ita No. 1291/Kol/2025 For A.Y. 2011-12) Dcit Glix Securities Private Limited 110, Shanti Pally, 1St Floor 1, Grant Lane, Aayakar Bhawan Poorva, Vs. Kolkata-700012, West Bengal Kolkata-700107, West Bengal (Appellant) (Respondent) Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri P.N. Barnwal, Dr Date Of Hearing: 14.10.2025 Date Of Pronouncement: 02.12.2025

…A.Y. 2013-14 as amendment in the statute to Section 68 of the Act came into operation from A.Y. 2013-14. The ld. CIT (A) also relied on the ITA No. decision of Principal Commissioner of Income-tax vs. Sreeleathers [2022] 143 taxmann.com 435 (Calcutta)/[2022] 448 ITR 332 (Calcutta)[14-07-2022] while deleting the addition in respect of unsecured loans. The ld. CIT relied on the decision of Principal Commissioner of Income-tax vs. Ambe Tradecorp (P.) Ltd. [2022] 145 taxmann.com 27 (Gujarat)/[2023] 290 Taxman 471 (Gujarat)[05-07-2022] by recording a finding of fact that the loans raised by the assessee were duly rep…