“investigation wing”

Principal Commissioner of Income Tax-13, Kolkata vs. Shri Vivek Madhogaria

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 20Th July, 2022 Appearance : Mr. Soumen Bhattacharyya, Adv. …For The Appellant. The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 [The Act, For Brevity] Is Directed Against The Order Dated 26Th June, 2019 Passed By The Income Tax Appellate Tribunal, “Smc” Bench, Kolkata In Ita No.2461/[Kol]/2018 For The Assessment Year 2015-16. The Revenue Has Raised The Following Substantial Question Of Law For Consideration. I) Whether The Learned Tribunal Has Committed Substantial Error In Law Deleting The Addition Under Section 68 Of The Income Tax Act, 1961 Made By The Assessing Officer On The Basis Of Facts & Investigation As To Claim Of Bogus Long Term Capital Gain Caused The Impugned Order As Perverse ? Ii) Whether The Learned Tribunal Has Committed Substantial Error In Law By Passing An Order In Large Number Of Cases Where The Basic Facts & Facts

substantial error in law by passing an order in large number of cases where the basic facts and facts 2 brought out by the investigation wing and the assessing officer are completely different amounted to perversity and miscarriage of justice ? iii) Whether the learned tribunal has committed substantial error ... giving any credence to investigations made by the assessing officer, investigation wing of the Income Tax Department as well as SEBI on astronomical rise in prices of shares of not much known companies which have no net worth and no financial stability thereby failed to ascertain the true nature

Principal Commissioner of Income Tax-9, Kolkata vs. Kaushik Das

Accordingly, the appeal fails and the same is dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 20Th July, 2022 Appearance : Mr. Prithu Dudheria, Adv…For The Appellant. Mr. Arijit Chakraborty, Adv, Mr. Nilotpal Chowdhury, Mr. Akash Dutta, Mr. Prabir Bera, Advs…For Respondent. The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 [The Act, For Brevity] Is Directed Against The Order Dated 1St October, 2019 Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata In Ita No.1678/Kol/2017 Relating To Assessment Year 2007-08, Ita No.1679/Kol/2017, Ita No.1680/Kol/2017 For The Assessment Years 2007-08, 2008-09 & 2009-10. The Revenue Has Raised The Following Substantial Question Of Law For Consideration. I) Whether On The Facts & In The Circumstances Of The Case The Itat Erred In Law In Upholding Cit[A]’S Order Which Was Passed Overlooking The Fact That The Sources Of Money Deposited In The Banks Accounts Of The Assessee, Were Not At All Explained At Any Stage Of The Income Tax Proceedings Giving

find mention in the status report so sent by the AO along with the remand report. The status report given by the investigation wing very clearly mentions that such bank accounts have been used for the purpose of providing accommodation entry to various companies so mentioned in remand report

Principal Commissioner of Income Tax-9, Kolkata vs. Shri Prabir Santra

Accordingly, the appeal fails and the same is dismissed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 20Th July, 2022 Appearance : Mr. Vipul Kundalia, Adv…For The Appellant. The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 [The Act, For Brevity] Is Directed Against The Order Dated 7Th August, 2019 Passed By The Income Tax Appellate Tribunal, “B” Bench, Kolkata In Ita No.1681- 1683/Kol/2017 Relating To Assessment Years 2007-08 To 2009-10 Respectively. The Revenue Has Raised The Following Substantial Question Of Law For Consideration. I) Whether On The Facts & Circumstances Of The Case The Learned Income Tax Appellate Tribunal Erred In Law In Upholding Ld. Cit[A]’S Order Which Was Passed Overlooking The Fact That The Sources Of Money Deposited In The Banks Accounts Of The Assessee, Were Not At All Explained At Any Stage Of The Income Tax Proceedings Giving Rise To The Flaw In Basing The Decision On Extraneous Materials & Which Gives Rise To The Vice Of Flaw In The Decision Making Process ?

find mention in the status report so sent by the AO along with the remand report. The status report given by the investigation wing very clearly mentions that such bank accounts have been used for the purpose of providing accommodation entry to various companies so mentioned in remand report