S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata

Fizaan Commotrade Pvt. Ltd., Kolkata vs. I.T.O., Ward-15(1), Kolkata

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

…d that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 15. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: 11 | P a g e Fizaan Commotrade Pvt. Ltd., A.Y. 2012-13 “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant…

Kali Transport Pvt. Ltd., Kolkata vs. D.C.I.T., Circle-10(1), Kolkta

Appeal is allowed in above terms

Bench: Hon’Ble Shri J.S Reddy, Am & Hon’Ble Shri S.S. Godara, Jm I.T. A No. 237/Kol/2020 A.Y 2015-16 M/S. Kali Transport Pvt. Ltd V/S. D.C.I.T, Cir-10(1), Kolkata Pan: Aadck3778R (Appellant) (Respondent)

…ts expenditure with supporting evidence, the initial onus is on the Assessing Officer to verify the necessary details/party from the corresponding assessing authority having accepted the relevant transactions. Their lordships in S.K. Bothra & Sons,HUF vs. ITO 347 ITR 347(Cal) also holds that if the assessee discharges his/its initial onus by filing detailed explanation along with supportive evidence, it is the duty of the Assessing Officer to carry out necessary further investigation. Case law in Crystal Networks P.Ltd vs. CIT reported in 353 ITR 171 (Cal) also holds that when the assessee files all necessary evi…

M/S Lakshmi Narayan Rice & Food Products Pvt. Ltd., Burdwan vs. I.to., Ward-2(1), Burdman

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2010-11 M/S Lakshmi Narayan Rice Income Tax Officer, बनाम & Food Products Pvt. Ltd., Ward-2(1), Aayakar / Vill-Kalsi, P.O. V/S. Bhawan, Court Chotkhanda, P.S. Memari, Compound, Burdwan- Burdwan, Pin-713146 713101 [Pan No.Aabcl 6230 F] .. अपीलाथ" /Appellant ""यथ" /Respondent

…आयकर अपील"य अधीकरण, "यायपीठ – “"स” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “VIRTUAL C-COURT” KOLKATA Before Shri J.Sudhakar Reddy, Accountant Member and Shri S.S.Godara, Judicial Member Assessment Year: 2010-11 M/s Lakshmi Narayan Rice Income Tax Officer, बनाम & Food Products Pvt. Ltd., Ward-2(1), Aayakar / Vill-Kalsi, P.O. V/s. Bhawan, Court Chotkhanda, P.S. Memari, Compound, Burdwan- Burdwan, Pin-713146 713101 [PAN No.AABCL 6230 F] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Soumitra Choudhury, Advocate अपीलाथ" क" ओर से/By Appellant Shri Supriya Paul, Addl. CIT-DR ""यथ" क" ओर से/By Respo…

M/S Sanmin Trading & Holding Pvt. Ltd., Kolkata vs. I.T.O., Ward-9(4), Kolkata

Bench: Sri J. Sudhakar Reddy & Ms. Madhumita Roy)

…d that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 11. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbeliev…

M/S. Matarani Vintrade Pvt. Ltd., Kolkata vs. ITO, Ward - 15(1), Kolkata

Bench: Hon’Ble Shri P.M. Jagtap, V.P (Kz) & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2012-13

…ITA No.343/Kol/2018, MataraniVintrade P. Ltd. AY 2012-13 आयकर अपील"य अधीकरण, "यायपीठ –“B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA [Before Hon’ble Shri P.M. Jagtap, V.P (KZ) and Hon’ble Shri A. T. Varkey, JM Assessment Year: 2012-13 M/s. MataraniVintrade Pvt. Ltd. Vs. Income-tax Officer, Wd-15(1), (PAN: AAHCM0024E) Kolkata Appellant Respondent Date of Hearing (Virtual) 08-10-2020 Date of Pronouncement 04-11-2020 For the Appellant Shri S. K. Tulsiyan, Advocate & Smt. Puja Somani, CA For the Respondent Shri Vijay Shankar, CIT, DR ORDER Per Shri A.T. Varkey, JM: This is an appeal prefer…

Rahul Agarwal, Kolkata vs. A.C.I.T., Circle-46, Kolkata

In the result, the appeal of assessee is allowed

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2016-17

…nd that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 9. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

DCIT, Central Circle - 2(4), Kolkata vs. M/S. Maa Annapurna Transport Agency Ltd., Kolkata

In the result, the appeal of revenue is dismissed

Bench: Shri A.T. Varkery, Jm & Dr. Arjun Lal Saini, Am ]

…d that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 20. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

DCIT, Circle-2, Asansol vs. M/S. Diamond Bottling Plant Company, Kolkata

Appeal is dismissed

Bench: Shri P.M. Jagtap, V.P & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.894/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) Dcit, Circle-2, Asansol Vs. M/S Diamond Bottling Plant Company C/O. S.N. Ghosh & Associates, Seven Brothers Lodge, P.O-Buroshibtala, P.S- Chinsurah, Hooghly, - 712105. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaefd5674R (Appellant) .. (Respondent) Appellant By : Smt. Ranu Biswas, Sr. Dr Respondent By : Shri S.M. Surana, Advocate सुनवाई क" तार"ख/ Date Of Hearing : 11/12/2019 घोषणा क" तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (A), Asansol Dated 30.01.2019 Passed In Case No.58/Cit(A)/Asl/Dcit/Cir-2/Asl/15-16 Involving 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 Grievance Seeks To Revive Assessing Officer’S Action Treating Assessee’S Loans Of Rs.11,85,00,000/- As Unexplained Cash Credits U/S 68 Which Has Been Reversed To The Extent Of Rs.5,26,50,251/- In The Cit(A)’S Order. Its Case Accordingly Is That The Assessing Officer Had Rightly Added The Assessee’S Total Loan Amount Of Rs. 11,85,00,000/- Raised From Four Entities M/S Diamond Carbon Pvt. Ltd., M/S Mukherjee Capital Pvt. Ltd., M/S Wimper Trading & Distributors Pvt. Ltd. & M/S Mukherjee Farms Pvt. Ltd.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI P.M. JAGTAP, V.P & SHRI S. S. GODARA, JM आयकर अपीलसं./I.T.A No.894/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) DCIT, Circle-2, Asansol Vs. M/s Diamond Bottling Plant Company C/o. S.N. Ghosh & Associates, Seven Brothers Lodge, P.O-Buroshibtala, P.S- Chinsurah, Hooghly, - 712105. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAEFD5674R (Appellant) .. (Respondent) Appellant by : Smt. Ranu Biswas, Sr. DR Respondent by : Shri S.M. Surana, Advocate सुनवाई क" तार"ख/ Date of Hearing : 11/12/2019 घोषणा क" तार"ख/Date of Pronouncement : 31/12/2019 आदेश / O R…

Tradelink Carrying Pvt. Ltd., Kolkata vs. I.T.O., Ward-4(1), Kolkata

Bench: Shri A.T. Varkery, Am ]

…d that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 20. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

Kanchan Plywood Products Pvt. Ltd., Jalpaiguri vs. ITO, Ward - 1(2), Jalpaiguri

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini Am]

…d that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 16. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

ITO, Ward-6(3), Kolkata vs. M/S Savitri Share and Securities Pvt Ltd., Kolkata

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

…r of the AA C, setting aside the assessment order.” 9 Savitri Share & Securities Pvt. Ltd, AY 2012-13 11. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

Bidit Financial Management Pvt. Ltd., Kolkata vs. DCIT, Circle-7(1), Kolkata

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.579/Kol/2017 ("नधा"रणवष" / Assessment Year:2012-13)

…f this finding, we find that the Tribunal was right in reversing the order of the AA C, setting aside the assessment order.” 19. Further the jurisdictional Calcutta High Court in the case of S.K. Bothra& Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata (347 ITR 347)also held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelieve the allege…

ITO, WD-1(1), Siliguri vs. M/S Cachar King Plantations Pvt. Ltd., Siliguri

In the result, appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2012-13 Income Tax Officer, Ward-1(1), Siliguri..………......……….........…………..………….…................Appellant Vs. M/S. Cachar King Plantations Pvt. Ltd..……...........…………..……………….…...……..…….......Respondent Situvita Tea Factory Bidhan Nagar Siliguri [Pan : Aabcc 0744 P] Appearances By: Shri Subash Agarwal, Advocate, Appeared On Behalf Of The Assessee. Shri Robin Choudhury, Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : December 12Th, 2018 Date Of Pronouncing The Order : January 16Th , 2019 Order Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- Siliguri, (Hereinafter The ‘Ld. Cit(A)’), Dt. 27/05/2015, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2012-13. 2. The Assessee Is A Company & Is In The Business Of Investment In Shares & Securities. For The Assessment Year 2012-13, It E-Filed Its Original Return Of Income On 22/09/2012, Disclosing Total Business Income At Rs.3,71,534/-. The Assessment Order Was Passed U/S 143(3) Of The Act, On 30/03/2015, Making An Addition Of Unexplained Cash Credit To The Tune Of Rs.1,30,00,000/-, U/S 68 Of The Act. This Was Set Off Against Carried Forward Losses & Gross Total Balance Was Determined At –Nil- Aggrieved The Assessee Carried The Matter In Appeal. The Ld. First Appellate Authority Deleted The Addition For The Reasons Given In His Order.

…lant from. undisclosed sources merely on the failure of the sub- creditors to prove their creditworthiness." 5.7. We find that the Hon'ble Jurisdictional High Court in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata reported in 347 ITR 347(Cal) wherein the Court held as follows: "15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disb…

ITO, Ward - 6(1), Kolkata vs. M/S. Delight Grih Nirman Pvt. Ltd., Kolkata

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1755/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.1755/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) ITO, Ward-6(1), Kolkata Vs. M/s Delight Grih Nirman Pvt. Ltd. P-7, Chowringhee Square, 6th Floor, 1, R.N. Mukherjee Road, 3rd Floor, Kolkata – 700 069. Room No.310, Kol-1. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCD 2019 F (Appellant) .. (Respondent) Appellant by :Shri Rabin Chowdhury, Addl. CIT, Sr. DR Respondent by : Shri A.K. Tulsiyan, FCA सुनवाईक"तार"ख/ Date of Hearing : 27/11/2018 घोषणाक"तार"ख/Date of Pronouncement : 14/12/2018 आदे…

Bhutoria Electricals Pvt. Ltd., Kolkata vs. ITO, Ward - 7(4), Kolkata

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 2024/Kol/2017 Assessment Year: 2012-13

…order of the AA C, setting aside the assessment order.” 9 Bhutoria Electricals Pvt. Ltd., AY 2012-13 12. We also take note of the decision of the Hon'ble High Court, Calcutta in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata 347 ITR 347 wherein the Court held as follows: “15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disbelie…

ITO, WD-6(1), Kolkata vs. M/S Tritium Commodities Pvt. Ltd., Kolkata

In the result, appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi) Assessment Year: 2008-09 Income Tax Officer, Ward-6(1), Kolkata.………......……….........…………..………….…................Appellant Vs. M/S. Tritium Commodities………..........….……...........…………..……………….…...……..…….......Respondent 7, Babulal Lane Kolkata – 700 007 [Pan : Aacct 8286 G] Appearances By: Shri S.M. Surana, Advocate, Appeared On Behalf Of The Assessee. Shri Sankar Halder, Addl. Cit Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 6Th, 2018 Date Of Pronouncing The Order : November 28Th , 2018 Order Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-2, Kolkata, (Hereinafter The ‘Ld. Cit(A)’), Dt. 15/10/2015, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2008-09. 2. The Assessee Is A Company & Is In The Business Of Investment In Shares & Securities. For The Assessment Year 2012-13, It Filed Its Return Of Income On 27/09/2017, Disclosing Nil Income. It Filed Its Original Return Of Income For The Assessment Year 2008-09, On 22/10/2008, Declaring Total Loss Or Rs.14,726/-. The Assessment Order Was Passed U/S 147/143(3) Of The Act, On 24/06/2010. Thereafter The Ld. Cit(A), Passed An Order U/S 263 Of The Act, Setting Aside The Assessment Order Dt. 24/06/2010. The Assessing Officer Passed The Impugned Fresh Order In Pursuance To The Order U/S 263 Of The Act, Dt. 31/03/2014, Making An Addition Of The Share Application Money Of Rs.2.07 Crores U/S 68 Of The Act. Aggrieved The Assessee Carried The Matter In Appeal. The Ld. First Appellate Authority Deleted The Addition For The Reasons Given In His Order.

…lant from. undisclosed sources merely on the failure of the sub- creditors to prove their creditworthiness." 5.7. We find that the Hon'ble Jurisdictional High Court in the case of S.K. Bothra & Sons, HUF v. Income-tax Officer, Ward- 46(3), Kolkata reported in 347 ITR 347(Cal) wherein the Court held as follows: "15. It is now a settled law that while considering the question whether the alleged loan taken by the assessee was a genuine transaction, the initial onus is always upon the assessee and if no explanation is given or the explanation given by the appellant is not satisfactory, the Assessing Officer can disb…

Sri Vinamra Daga, Kolkata vs. DCIT, Circle - 6(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]

…1 Vinamra Daga, AY 2014-15 आयकर अपील"य अधीकरण, "यायपीठ – “D” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH: KOLKATA (सम")Before "ी 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] I.T.A. No. 2320/Kol/2017 Assessment Year: 2014-15 Sri Vinamra Daga Vs. Deputy Commissioner of Income-tax, (PAN: ACQPD6902L) Circle-6(1), Kolkata. Appellant Respondent Date of Hearing 08.11.2018 Date of Pronouncement 16.11.2018 For the Appellant Shri A. Kochar, Advocate For the Respondent Shri C. J. Singh, Sr. DR ORDER Per Shri A.T.Varkey, JM Th…