PRINCIPAL COMMISSIONER OF INCOME TAX-9,KOLKATA vs. MANJU OSATWAL

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

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

reassessment. Section 191 places an embargo on the declarant to the effect that any amount of tax and surcharge paid under Section 181 or penalty paid under Section 182 in pursuance of a declaration under Section 180 shall not be refundable. Section 193 deals with declaration by misrepresentation of facts to be void. The said provision commences with

PRINCIPAL COMMISSIONER OF INCOME TAX-17, KOLKATA vs. M/S. RADHASHYAM TIRTHABASI PAUL

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

12. Learned Advocate General has submitted that, Entry Tax of the State had also fallen for consideration in Jindal Stainless Ltd (supra). He has pointed out the various paragraphs of Jindal Stainless Ltd (supra) where the State Act was referred to, in support of such contention. He has contended that, the only requirement is that Entry Tax must

PRINCIPAL COMMISSIONER OF INCOME TAX -2, KOLKATA vs. M/S. AGR AUTOMOBILES PVT LTD

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

12. Learned Advocate General has submitted that, Entry Tax of the State had also fallen for consideration in Jindal Stainless Ltd (supra). He has pointed out the various paragraphs of Jindal Stainless Ltd (supra) where the State Act was referred to, in support of such contention. He has contended that, the only requirement is that Entry Tax must

COMMISSIONER OF INCOME TAX, KOLKATA-II, KOLKATA vs. M/S. KESORAM IDUSTRIES LIMITED

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 6Th May 2024. Appearance: Mr. Soumen Bhattacharjee, Advocate Mr. Ankan Das, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Ms. Nilanjana Banerjee Pal, Advocate. … For The Respondent. 1. Heard Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sm. Nilanjana Banerjee Pal, Learned Counsel For The Respondent Assessee. 2. This Appeal Was Admitted By This Court By Order Dated 31St July 2013 On The Following Substantial Question Of Law:- “Whether On Facts & In The Circumstances Of The Case, The Learned Income Tax Appellate Tribunal Erred In Law In Setting Aside The Order Under Section 147 Of The Income Tax, 1961?”

12. The powers of the Income-tax Officer to reopen assessment though wide are not plenary. The words of the statute are "reason to believe" and not "reason to suspect". The reopening of the assessment after the lapse of many years is a serious matter. The Act, no doubt, contemplates the reopening of the assessment if grounds exist for believing

PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. ARSHIA GLOBAL TRADECOM PRIVATE LIMITED

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

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

C” Bench, Kolkata, (Tribunal), in ITA No. 2042/Kol/2019 for the assessment year 2011-2012. 2. The revenue has raised the following substantial question of law for consideration: Whether on the facts and in the circumstances of the case the ITAT erred in law in quashing the proceedings under Section 147 of the Income Tax Act, 1961 by not appreciating

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. P L GOENKA HUF

Accordingly, the appeal filed by the revenue is allowed and the substantial

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

c) Whether on the facts and in the circumstances of the case and in law the Learned Income Tax Appellate Tribunal (ITAT) was justified in law by not considering the fact brought on record establishing manipulation of share prices of penny stock M/s. Tuni Textile Mills Ltd as part of colourable device to generate fictitious LTCG with

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S PURPLE SUPPLIERS PVT LTD

The appeals are dismissed and the substantial

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

c) WHETHER in facts and in the circumstances of the case the Learned Income Tax Appellate Tribunal was justified in law in not following the binding decision of Hon'ble Supreme Court in case of Priya Blue Industries P Ltd. Vs. ACIT (2022) 138 taxmann.com 69 (SC) and holding that the investigation report was not sufficient for the Assessing Officer

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S PURPLE SUPPLIERS PVT LTD

The appeals are dismissed and the substantial

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

c) WHETHER in facts and in the circumstances of the case the Learned Income Tax Appellate Tribunal was justified in law in not following the binding decision of Hon'ble Supreme Court in case of Priya Blue Industries P Ltd. Vs. ACIT (2022) 138 taxmann.com 69 (SC) and holding that the investigation report was not sufficient for the Assessing Officer

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. RAM RATAN MODI

Bench: HON'BLE T.S. SIVAGNANAM, ACTING CHIEF JUSTICE,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

C” Bench, Kolkata (tribunal) in I.T.(SS).A No. 10/Kol/2002 for the block period 01.04.1986 to 27.08.1996. The revenue has raised the following substantial questions of law for consideration: 1) Whether the Hon’ble Tribunal while setting aside the Second assessment order, was justified in negating and/or countering the findings of the Second Assessing Officer with that of the First