Principal CIT v. Sreeleathers

448 ITR 332High Court2022#1294 most cited

What is Principal CIT v. Sreeleathers authority for?

Additions made by an Assessing Officer under Section 68 for unsecured loans or share capital/premium are perverse if based merely on an allegation of 'shell companies' without proper findings, especially when the assessee has provided evidence and lenders confirmed transactions through Section 133(6) notices.

88

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2026.

Also referred to as

PCIT v. Sreeleathers · Section 68 addition · unsecured loan shell company · creditworthiness of creditor · Section 133(6) notice · share capital addition · perverse assessment order · deletion of cash credit · source of source · bogus share capital

Also reported as

143 Taxmann.com 435

Sections most often in play

Section 68Section 133(6)Section 143(3)Section 148Section 142(1)Section 131Section 147Section 143(2)
Read the full judgment

Issues it is cited on

section 148bsource of sourcesection 106shell companypermanent account numbercreditworthiness of the creditorshare capital and share premiumbogus share capitalshare application moneyaddition under section 68principal commissioner of income-taxsummons under section 131

Judgments citing Principal CIT v. Sreeleathers

DCIT, CC-2(4), Kolkata vs. Vikrma Impex Private Limited, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 316/KOL/2025[2019-20]Status: DisposedITAT Kolkata25 Aug 2025AY 2019-20

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 115BSection 132Section 133(6)Section 153ASection 68Section 69C

…आयकर अपीलीय अधिकरण, कोलकाता पीठ “डी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH: KOLKATA श्री राजेश कुमार, लेखा सटस्य एवं श्री प्रदीप कुमार चौबे, न्याययक सदस्य के समक्ष [Before Shri Rajesh Kumar, Accountant Member &Shri Pradip Kumar Choubey, Judicial Member] I.T.A. Nos. 316 & 317/Kol/2025 Assessment Years: 2019-20 & 2020-21 DCIT, CC-2(4), Kolkata Vs. Vikrma Impex Pvt. Ltd. (PAN: AABCV 0337 K) ) अपीलार्थी ( Respondent / प्रत्यर्थी Appellant / Date of Hearing / सुनवाई 29.07.2025 की यिथर्थ Date of Pronouncement/ 25.08.2025 आदेश उद्घोषणा की यिथर्थ For the assessee / Shri Miraj D Shah, AR यनर्ााररिी क…

Indu Bala Porwal, Udaipur vs. Deputy Commissioner of Income Tax, Centre Circle-1, Udaipur

In the result, ground no 5, 9 and 11 appeal is also allowed in favor as indicated above

ITA 173/JODH/2023[2014-15]Status: DisposedITAT Jodhpur18 Jun 2025AY 2014-15

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

Section 132Section 153Section 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR. BEFORE: DR. MITHA LAL MEENA, ACCOUNTANT MEMBER & DR. S. SEETHALAKSHMI, JUDICIAL MEMBER I.T.A. No. 173/Jodh/2023 Assessment Year: 2014-15 Indu Bala Porwal Vs. Deputy Commissioner of 84, Inside Kole Pole, Income Tax, Udaipur-313001. Central Circle-1, Udaipur. PAN/GIR No.: AEKPP3897E Appellant Respondent Sh. Prakul Khurana, Advocate, Appellant by Sh. Mukesh Soni, C.A. & Sh. Anil Jain, C.A. Sh. Sanjay Dhariwal, CIT-DR) Respondent by Date of Hearing 07/05/2025 18/06/2025 Date of Pronouncement ORDER PER: DR. S. SEETHALAKSHMI, J.M. The present appeal is…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Rabindra Enterprises Pvt Ltd

Accordingly, the appeal fails and is dismissed

ITAT/231/2024HC Calcutta16 Jun 2025

Bench: : The Hon’Ble The Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Chaitali Chatterjee (Das) Dated : 16Th June, 2025 Appearance: Mr. Aryak Dutt, Adv. Mr. Amit Sharma, Adv. ..For Appellant Mr. Subash Agarwal, Adv. Mr. Rajarshi Chatterjee, Adv. Mr. Amit Shaw, Adv. Ms. Suman Sahani, Adv. …Respondent

Section 143(3)Section 260ASection 68

…OD-5 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION [INCOME TAX] ORIGINAL SIDE ITAT /231/2024 IA NO: GA/2/2024 PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL - 1, KOLKATA VS. RABINDRA ENTERPRISES PVT. LTD. BEFORE : THE HON’BLE THE CHIEF JUSTICE T.S. SIVAGNANAM AND THE HON’BLE JUSTICE CHAITALI CHATTERJEE (DAS) Dated : 16th June, 2025 Appearance: Mr. Aryak Dutt, Adv. Mr. Amit Sharma, Adv. ..for Appellant Mr. Subash Agarwal, Adv. Mr. Rajarshi Chatterjee, Adv. Mr. Amit Shaw, Adv. Ms. Suman Sahani, Adv. …respondent THE COURT: This appeal by the revenue filed under Section 260A o…

Nature Commercial Pvt Ltd, Delhi vs. ITO, Ward-2(1), Kolkata

In the result, appeal of the assessee stands allowed

ITA 853/KOL/2024[2008-09]Status: DisposedITAT Kolkata22 May 2025AY 2008-09

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

Section 131Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 250Section 263Section 68

…to 171 of the paper book. Therefore, the addition cannot be made only on the ground that summons u/s.131 of the Act were not complied with. The case of the assessee finds support from the decision of Hon'ble High Court in the case of Pr. CIT Vs. Sreeleathers 448 ITR 332, wherein the Hon'ble High Court has held as under: “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 int…

Deputy Commissioner of Income Tax, Kolkata vs. Ritesh Properties Private Limited, Kolkata

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

ITA 1705/KOL/2024[2012-13]Status: DisposedITAT Kolkata15 May 2025AY 2012-13

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Section 131Section 143(2)Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “बी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA "ी "द"प कुमार चौबे, "या"यक सद"य एवं "ी संजय अव"थी, लेखा सट"य के सम" [Before Shri Pradip Kumar Choubey, Judicial Member &Shri Sanjay Awasthi,Accountant Member] I.T.A. No. 1705/Kol/2024 Assessment Year: 2012-13 DCIT, Kolkata Vs. Ritesh Properties Pvt. Ltd. (PAN: AADCR 5347 R) ( अपीलाथ" ) Respondent / ""यथ" Appellant / Date of Hearing / सुनवाई 01.05.2025 क" "त"थ Date of Pronouncement/ 15.05.2025 आदेश उ"घोषणा क" "त"थ For the assessee / Shri Miraj D Shah, A.R "नधा"रती क" ओर से For the revenue / राज"व Smt. Monalis…

ACIT, Circle-18(2), New Delhi vs. Niit Technologies Ltd., New Delhi

In the result, appeal of the Revenue in ITA No

ITA 3559/DEL/2018[2013-14]Status: DisposedITAT Delhi29 Apr 2025AY 2013-14

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

Section 132Section 139(1)Section 143(2)Section 148Section 37Section 41Section 68Section 69Section 69ASection 69C

…ITA No.3558/Del/2025 & Others INCOME TAX APPELLATE TRIBUNAL DELHI “G” BENCH: NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. 3558/Del/2025 2019-20 DCIT M/s. Allure Developers Pvt. Ltd., Flat No.14, Ground Floor, Central Circle –I Noida DDA MIG, Sura Apartment, Pul Pehladpur, New Delhi- 110044. PAN-AALCA3631R 2. 3559/Del/2025 2020-21 -do- -do- 3. 4108/Del/2025 2021-22 -do- -do- M/s. Ajay Realcon Pvt. Ltd., 4. 3560/Del/2025 2020-21 -do- Plot No.01-B, 7th Floor, Sector-126,…

ITO WD 2(1), Kol, Kolkata vs. Infinity Housing Projects Private Limited, Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2255/KOL/2024[2013-14]Status: DisposedITAT Kolkata07 Mar 2025AY 2013-14

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 133Section 142(1)Section 147Section 148Section 68

…editworthiness, genuinity transaction stands proven. The appellant to that extent has discharged its onus placed on it u/s 68 of the Income Tax Act, 1961. The appellant has relied on the judgment of Hon. Calcutta High Court in the case of PCIT Vs. Sreeleather 448 ITR 332 wherein it was held that “once the assessee discharges the onus of establishing an identity proving the genuineness of the transaction and creditworthiness of the lender, addition made u/s 68 is invalid”. The appellant also relied on the judgment of PCIT vs. Overtop Marketing Pvt. Ltd. 148 taxmann.com 94 wherein the addition made u/s 68 were held…

Deputy Commissioner of Income Tax, Kolkata vs. Dollar Holding Pvt. Ltd., Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 1729/KOL/2024[2017-18]Status: DisposedITAT Kolkata11 Feb 2025AY 2017-18

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

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR
Section 14ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA No. 1728 & 1729/KOL/2024 (Assessment Years:2015-16 & 2017-18) Dollar holding Pvt. Ld. Dy. Commissioner of Income Tax 32, OM Tower, 15 th Floor, 110, Shantipally, Aaykar Bhavan, J.L. Nehru Road, Poorva, Kolkata-700107, West Vs. Kolkata-700071, Bengal West Bengal (Appellant) (Respondent) PAN No. AADC7708B Assessee by : Shri A.K. Tulsyan, AR Revenue by : Shri Abhijit Kundu, DR Date of hearing: 18.11.2024 Date of pronouncement : 11.02.2025 O R D E R Per Rajesh Kumar, AM: These are appeals pre…

Deputy Commissoenr of Income Tax, Kolkata vs. Dollar Holding Pvt. Ltd., Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 1728/KOL/2024[2015-16]Status: DisposedITAT Kolkata11 Feb 2025AY 2015-16

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

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR
Section 14ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA No. 1728 & 1729/KOL/2024 (Assessment Years:2015-16 & 2017-18) Dollar holding Pvt. Ld. Dy. Commissioner of Income Tax 32, OM Tower, 15 th Floor, 110, Shantipally, Aaykar Bhavan, J.L. Nehru Road, Poorva, Kolkata-700107, West Vs. Kolkata-700071, Bengal West Bengal (Appellant) (Respondent) PAN No. AADC7708B Assessee by : Shri A.K. Tulsyan, AR Revenue by : Shri Abhijit Kundu, DR Date of hearing: 18.11.2024 Date of pronouncement : 11.02.2025 O R D E R Per Rajesh Kumar, AM: These are appeals pre…

ACIT -Central Circle-1, Ludhiana vs. M/S Oswal Trends Pvt. Ltd., Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 29/CHANDI/2022[2012-13]Status: DisposedITAT Chandigarh17 Dec 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

ACIT -Central Circle-1, Ludhiana vs. M/S Oswal Trends Pvt. Ltd., Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 28/CHANDI/2022[2011-12]Status: DisposedITAT Chandigarh17 Dec 2024AY 2011-12

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

ACIT, Central Circle -1, Ludhiana vs. M/S Oswal Apparels Pvt. Ltd., Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 27/CHANDI/2022[2012-13]Status: DisposedITAT Chandigarh17 Dec 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

ACIT, Central Circle -1, Ludhiana vs. M/S Oswal Apparels Pvt. Ltd., Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 26/CHANDI/2022[2011-12]Status: DisposedITAT Chandigarh17 Dec 2024AY 2011-12

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

M/S Oswal Apparels Pvt. Ltd., Ludhiana vs. DCIT, C.C.- 1, Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 432/CHANDI/2021[2012-13]Status: DisposedITAT Chandigarh17 Dec 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

M/S Oswal Trend (P) Ltd., Ludhiana vs. DCIT, C. C.-1, Ludhiana

In the result, this appeal of the Revenue stands dismissed

ITA 429/CHANDI/2021[2012-13]Status: DisposedITAT Chandigarh17 Dec 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

Section 132Section 153A

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ, च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘B’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No. 29/CHD/2022 िनधा"रणवष" / Assessment Year : 2012-13 बनाम The ACIT, M/s Oswal Trend (P)Ltd., Office No. 23, # B 20-350, Central Circle-1, New Shopping Centre, Ludhiana Ghumar Mandi, Ludhiana 141001 "थायीलेखासं./PAN NO: AABCO0431D अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ITA No.429/CHD/2021 िनधा"रणवष" / Assessment Year :2012-13 बनाम M/s Oswal Trend (P)Ltd., The DCIT, Office No. 23, # B 20-350, Centr…

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

In the result, appeal of the revenue is dismissed

ITA 1926/KOL/2024[2012-13]Status: DisposedITAT Kolkata17 Dec 2024AY 2012-13

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

Section 131Section 250

…ve, we accordingly upheld the order of the CIT(A). The appeal of the revenue is, therefore, dismissed.” d) Our view is further fortified by the judgment of the Jurisdictional Calcutta High Court in the case of Principal CIT vs. Sreeleathers reported in [2022] 448 ITR 332 (Cal) has held as follows: “Section 68 of the Income-tax Act, of 1961, deals with cash credits. It states that where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not in the opinion of the Asse…

Decputy Commission of Income Tax Central Circle-3(1), Kolkata vs. Chirag Jewellers, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1559/KOL/2024[2014-15]Status: DisposedITAT Kolkata21 Oct 2024AY 2014-15

Bench: Shri Rajpal Yadav & Dr. Manish Boradi.T.A. No. 1559/Kol/2024 Assessment Year: 2014-15 Dcit, Central Circle-3(1) Chirag Jewellers 110, Shantipally, Flat 17A, Rameshwara Mansion, 10/4A Vs Kolkata-700107 Elgin Road, Kolkata-700020 West Bengal [Pan : Aabfc7914L] अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent)

For Appellant: Shri Miraj D. Shah, ARFor Respondent: Shri Subhendu Datta, CIT DR
Section 132Section 143(2)Section 143(3)Section 153ASection 250Section 68Section 69C

…आयकर अपीलीय अधिकरण न्यायपीठ, कोलकाता । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No. 1559/KOL/2024 Assessment Year: 2014-15 DCIT, Central Circle-3(1) Chirag Jewellers 110, Shantipally, Flat 17A, Rameshwara Mansion, 10/4A Vs Kolkata-700107 Elgin Road, Kolkata-700020 West Bengal [PAN : AABFC7914L] अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent) Assessee by : Shri Miraj D. Shah, AR Revenue by : Shri Subhendu Datta, CIT DR सुनवाई की तारीख/Date of Hearing : 11.09.2024 घोषणा की तारीख /Date of Pronouncement : 21.10.2…

Shankar Traders & Distributors Pvt. Ltd., Kolkata vs. ITO, Ward-5(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 199/KOL/2024[2012-13]Status: DisposedITAT Kolkata03 Oct 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 199/Kol/2024 Assessment Year: 2012-13 Shankar Traders & Income Tax Officer, Ward-5(1), Distributors Pvt. Ltd. Vs Aaykar Bhawan, A-Block, 1St Floor, Mercantile P-7, Chowringhee Square, Building, 9, Lal Bazar Street, Kolkata-700, West Bengal Kolkata-700001, [Pan: Aadcs8907L] West Bengal अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri Susanta Saha, DR
Section 133(6)Section 143(2)Section 143(3)Section 144Section 14ASection 68

…आयकर अपीलीय अधिकरण न्यायपीठ, कोलकाता । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No. 199/KOL/2024 Assessment Year: 2012-13 Shankar Traders & Income Tax Officer, Ward-5(1), Distributors Pvt. Ltd. Vs Aaykar Bhawan, A-Block, 1st Floor, Mercantile P-7, Chowringhee Square, Building, 9, Lal Bazar Street, Kolkata-700, West Bengal Kolkata-700001, [PAN: AADCS8907L] West Bengal अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent) Assessee by: Shri Manish Tiwari, AR Revenue by: Shri Susanta Saha, DR सुनवाई की तारीख/Date of Hea…

Sundip Kumar Gupta., Kolkata vs. DCIT, Cir-47, Kolkata.

Appeals of the assessee stand allowed

ITA 1173/KOL/2023[2015-16]Status: DisposedITAT Kolkata02 Jul 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Rakesh Mishrai.T.A. Nos.1170 To1173/Kol/2023 Assessment Years: 2010-11, 2012-13, 2014-15 & 2015-16 Sundip Kumar Gupta..…………………....................…...……………....Appellant Fort Oasis Complex, Flat No.040903, Block-436B, Panditya Road, Kolkata – 700029. [Pan: Aebpg7187B] Vs. Dcit, Circle-47, Kolkata…….……………............................…..…..... Respondent Appearances By: Shri Abhishek Bansal, Ar, Appeared On Behalf Of The Assessee. Shri B. K. Singh, Jcit-Sr. Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : April 23, 2024 Date Of Pronouncing The Order : July 02, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Are Bunch Of Four Appeals Preferred By The Assessee Against The Separate Orders Dated 06.09.2023, 06.09.2023, 15.09.2023 & 06.09.2023, Respectively, 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 The Facts & Issues Involved In All The Appeals Are Identical, Hence, These Appeals Have Been Heard Together & Are Being Disposed Of By This Common Order. At The Request Of Ld. Representatives Of The Parties, Ita No.1170/Kol/2023 Is Taken As The Lead Case For The Purpose Of Narration Of Facts.

Section 147Section 250Section 68

…ors vs. ITO’ in ITA No.265/Kol/2023 decided on 22.06.2023, in which further, reliance has been placed on the various other decisions including the decision of the Jurisdictional Calcutta High Court in the case of ‘PCIT vs. Sree Leathers Pvt. Ltd.’ reported in 448 ITR 332 and of the Hon’ble Gujarat High Court in the case of ‘PCIT vs. Ambe Tradecorp Pvt. Ltd.’ reported in 145 taxmann.com 27. The relevant part of the order of the Tribunal in the case of ‘Poddar Realtors vs. ITO’ is reproduced as under: “8. In view of the above facts, the reliance placed by the Ld. Counsel for the assessee on the decision of the jur…

Sundip Kumar Gupta., Kolkata vs. DCIT, Cir-47, Kolkata.

Appeals of the assessee stand allowed

ITA 1172/KOL/2023[2014-15]Status: DisposedITAT Kolkata02 Jul 2024AY 2014-15

Bench: Shri Sanjay Garg & Shri Rakesh Mishrai.T.A. Nos.1170 To1173/Kol/2023 Assessment Years: 2010-11, 2012-13, 2014-15 & 2015-16 Sundip Kumar Gupta..…………………....................…...……………....Appellant Fort Oasis Complex, Flat No.040903, Block-436B, Panditya Road, Kolkata – 700029. [Pan: Aebpg7187B] Vs. Dcit, Circle-47, Kolkata…….……………............................…..…..... Respondent Appearances By: Shri Abhishek Bansal, Ar, Appeared On Behalf Of The Assessee. Shri B. K. Singh, Jcit-Sr. Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : April 23, 2024 Date Of Pronouncing The Order : July 02, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Are Bunch Of Four Appeals Preferred By The Assessee Against The Separate Orders Dated 06.09.2023, 06.09.2023, 15.09.2023 & 06.09.2023, Respectively, 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 The Facts & Issues Involved In All The Appeals Are Identical, Hence, These Appeals Have Been Heard Together & Are Being Disposed Of By This Common Order. At The Request Of Ld. Representatives Of The Parties, Ita No.1170/Kol/2023 Is Taken As The Lead Case For The Purpose Of Narration Of Facts.

Section 147Section 250Section 68

…ors vs. ITO’ in ITA No.265/Kol/2023 decided on 22.06.2023, in which further, reliance has been placed on the various other decisions including the decision of the Jurisdictional Calcutta High Court in the case of ‘PCIT vs. Sree Leathers Pvt. Ltd.’ reported in 448 ITR 332 and of the Hon’ble Gujarat High Court in the case of ‘PCIT vs. Ambe Tradecorp Pvt. Ltd.’ reported in 145 taxmann.com 27. The relevant part of the order of the Tribunal in the case of ‘Poddar Realtors vs. ITO’ is reproduced as under: “8. In view of the above facts, the reliance placed by the Ld. Counsel for the assessee on the decision of the jur…