Principles of Natural Justice. (vi). In Lakshman Exports Ltd. v. Collector of Central Excise

Sri Subrata Banerjee, Kolkata vs. ACIT, Circle - 51(1), Kolkata

Bench: Shri S.S.Godara & Shri, M. Balaganesh

…gh and Ors. v. Gurmit Singh and Ors. AIR 2009 SC 2448;Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acco…

ITO, Ward - 4(1), Kolkata vs. M/S. Tribute Trading and Finance Ltd., Kolkata

Bench: Shri S.S.Godara & Shri, M. Balaganesh

…gh and Ors. v. Gurmit Singh and Ors. AIR 2009 SC 2448;Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acco…

ITO, Ward - 4(1), Kolkata vs. M/S. Tribute Trading and Finance Ltd., Kolkata

Bench: Shri S.S.Godara & Shri, M. Balaganesh

…gh and Ors. v. Gurmit Singh and Ors. AIR 2009 SC 2448;Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acco…

ITO, Ward - 40(2), Kolkata vs. Shri Suresh Chand Gupta, Kolkata

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2014-15 Ito Ward-40(2) V/S. Shri Suresh Chand Gupta 2Nd Floor, 3 16, Tara Chand Dutta Government Place Street, Kolkata-700073 West,Kolkata-700001 [Pan No.Aczpg 0724 C] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ajoy Kr. Singh, Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri Manish Tiwari, Fca ""यथ" क" ओर से/By Respondent 26-11-2018 सुनवाई क" तार"ख/Date Of Hearing 26-12-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Revenue’S Appeal For Assessment Year 2014-15 Arises From The Commissioner Of Income Tax (Appeals)-12, Kolkata’S Order Dated 20.04.2017, Passed In Case No.10190/Cit(A)-12/Kol/Ward-40(2)/2016-17, In Proceedings U/S. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Ground Raised In The Instant Appeal Pleads That The Cit(A) Has Erred In Law & On Facts In Reversing The Assessing Officer’S Action Treating Assessee’S Alleged Long Term Capital Gains (Ltcg) Of ₹3,84,74,960/- To Be Bogus In The Nature Of Unexplained Cash Credits U/S 68 Of The Act. The Cit(A)’S Detailed Discussion Qua The Impugned Sole Issue Reads As Under:- “3.2 I Have Perused The Observations & Findings Contained In The Assessment Order. I Have Also Considered The Submission Of The Appellant Along With Paper Book Filed By Ld. A/R Which Contained, Inter-Alia, The Following Documents:-

…gh and Ors. v. Gurmit Singh and Ors. AIR 2009 SC 2448;Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acco…

Rakesh Kumar Saraf, Kolkata vs. ITO, Ward - 36(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi] I.T.A. No. 1053/Kol/2018 Assessment Year: 2014-15 Rakesh Kumar Saraf.....…..……………………………………....………………..…………………….….Appellant C/O Skrk Marketing (India) Pvt. Ltd. 19, Armenian Street 1St Floor Kolkata – 700 001 [Pan : Ajaps 3157 R] Income Tax Officer, Ward-36(1), Kolkata...............................…………….…………..…...Respondent Appearances By: Shri Subash Agarwal, Advocate, Appeared On Behalf Of The Assessee. Shri Robin Choudhury, Addl. Cit Sr. D/R, Appearing On Behalf Of The Revenue.

…nr. v. State of 6 I.T.A. No. 1053/Kol/2018 Assessment Year: 2014-15 Rakesh Kumar Saraf West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v. Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944, considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acc…

Smt. Minu Gupta, Kolkata vs. ITO, Ward - 44(1), Kolkata

In the result, the appeal of the assessee is allowed

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]

…rs. AIR 2009 SC 2448;Biecco 11 Smt. Minu Gupta, AY 2014-15 Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acco…

ITO, Ward - 40(4), Kolkata vs. Shri Vishwanath Gupta, Kolkata

In the result, appeal of revenue is dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

…gh and Ors. v. Gurmit Singh and Ors. AIR 2009 SC 2448;Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v.Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944,considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, 16 Vishwanath Gupta, AY 2014-15 to establish that th…

Smt. Nalini Bothra, Kolkata vs. ITO, Ward 35(3), Kolkata

Appeal is allowed

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year:2014-15

…आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri J.Sudhakar Reddy, Accountant Member and Shri S.S.Godara, Judicial Member Assessment Year:2014-15 Smt. NaliniBothra Income Tax Officer, बनाम / C/o S.L. Kochar, Ward-35(3),, 10, V/s. Advocate, 86, Canning Shantipally, Aayakar Bhawan, Poorva, 9th Street, Kolkata-700001 [PAN No.ADRPB 5103 F] Floor, Kolkata-107 .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Anil Kochar, Advocate अपीलाथ" क" ओर से/By Appellant Shri Debasish Lahiri, Addl. CIT-DR ""यथ" क" ओर से/By Respondent 20-08-2018 सुनवाई क" तार"ख/D…

Ratan Lal Agarwala, Kolkata vs. ITO, Ward - 36(1), Kolkata

In the result, appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy) Assessment Year: 2014-15 Ratan Lal Agarwal……..…….....................…………….………………………………………..……….……..Appellant 1, R.N. Mukherjee Road Lal Bazar Kolkata – 700 001 [Pan : Acrpa 9773 H] Income Tax Officer, Ward-36(1), Kolkata.……………………………….…..………..……………...Respondent Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri Sital Chandra Das, Addl. Cit, D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : August 28Th, 2018 Date Of Pronouncing The Order : September 12Th , 2018 Order Per J. Sudhakar Reddy, Am :- This Is An Appeal Filed By The Assessee Directed Against The Order Of The Commissioner Of Income Tax (Appeals) - 10 Kolkata, (Hereinafter The ‘Ld. Cit(A)’), Dt. 15/02/2018, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2014-15. 2. The Sole Issue That Arises For My Consideration Is, As To Whether, The Addition In Question Made U/S 68 Of The Act, In Respect Of Sale Profits Of Shares Of Essar India Ltd., Is Valid In Law. The Assessee Had Disclosed Long Term Capital Gain On The Purchase & Sale Of Shares Of Essar India Ltd. The Assessing Officer As Well As The Ld. Cit(A) Were Of The View That This Is A Pre-Arranged Bogus Long Terms Capital Gain. They Rejected The Contentions Of The Assessee & The Entire Receipt Was Treated U/S 68 Of The Act. 5% Fo The Same Was Also Added U/S 69 Of The Act, As Commission Paid. The Assessee In Support Of His Contentions Has Filed The Following Documents, During The Course Of Assessment Proceedings :- A) Copies Of Bank Statements B) Ledger Copies C) Demat Statements D) Contract Notes

…h and Ors. v. Gurmit Singh and Ors.AIR 2009 SC 2448; Biecco Lawrie and Anr. v. State of West Bengal and Anr. AIR 2010 SC 142; and State of Uttar Pradesh v. Saroj Kumar Sinha AIR 2010 SC 3131). 24. In Lakshman Exports Ltd. v. Collector of Central Excise (2005) 10 SCC 634, this Court, while dealing with a case under the Central Excise Act, 1944, considered a similar issue i.e. permission with respect to the cross-examination of a witness. In the said case, the Assessee had specifically asked to be allowed to cross-examine the representatives of the firms concern, to establish that the goods in question had been acc…

Shri Abhay Kumar Jain, Kolkata vs. ITO, Ward - 34(2), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Sh. J.Sudhakar Reddy & Sh. S.S.Viswanethra Ravi[Assessment Year: 2014-15] Vs Ito, Shri Abhay Kumar Jain, 113, Biplabi Rash Behari Basu Ward-34(2), 110, Road, Kolkata-700001. Shantipally, Near Ruby Pan-Acqpj4044F. Hospital, Kolkata. (Appellant) (Respondent) Appellant By Sh. S.M.Surana, Advocate Respondent By Sh. S.Dasgupta, Addl. Cit Dr Date Of Hearing 12.07.2018 Date Of Pronouncement 24.08.2018 Order

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B”, KOLKATA BEFORE SH. J.SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER [Assessment Year: 2014-15] vs ITO, Shri Abhay Kumar Jain, 113, Biplabi Rash Behari Basu Ward-34(2), 110, Road, Kolkata-700001. Shantipally, Near Ruby PAN-ACQPJ4044F. Hospital, Kolkata. (Appellant) (Respondent) Appellant by Sh. S.M.Surana, Advocate Respondent by Sh. S.Dasgupta, Addl. CIT DR Date of Hearing 12.07.2018 Date of Pronouncement 24.08.2018 ORDER PER J.SUDHAKAR REDDY, ACCOUNTANT MEMBER This appeal filed by the assessee directed against the order of…