BALGOPAL MERCHANTS PVT LTD. vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA

Accordingly, the appeal fails and is dismissed

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

Section 68 thus only codify the law as it existed before April 01, 1962 and did not introduce any new principle or rule. 20

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S MUNDHRA CONSTRUCTION PRIVATE LIMITED

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- The Hon'Ble Justice Chaitali Chatterjee (Das)

20, and, ultimately, assessment was completed holding that the share application money received along with premium amounting to Rs.2,82,10,798/- remained unexplained and was, accordingly, added back under section 68

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. M/S SREELEATHERS

Accordingly, the appeal fails and is dismissed

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE BIVAS PATTANAYAK

68 of the Income Tax Act, 1961 unsecured loan and interest there of whereas per various case laws the onus is on the assessee to establish the existence, genuineness and creditworthiness of the new loan introduced, which he has failed to satisfy the Assessing Officer? 2. The assessee filed the return of income for the assessment under consideration

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S NARSINGH ISPAT LTD

Bench: : The Hon’Ble The Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : 11Th March, 2024 Appearance : M S. Smita Das De, Adv. Mr. Prithu Dudhoria, Adv. …For Appellant Mr. Kartik Kurmy, Adv. (Vc) Mr. Indranil Banerjee, Adv. Mr. Subrata Mukherjee, Adv. Mr. Debayan Dutta, Adv. …For Respondent. The Court : We Have Heard Ms. Smita Das De, Learned Standing Counsel Appearing For The Appellant Revenue & Mr. Kartik Kurmy, Learned Counsel Appearing For The Respondent Assessee. There Is A Delay Of 59 Days In Filing The Present Appeal. We Are Satisfied With The Reasons Given By The Appellant Department For Not Preferring The Appeal Within The Period Of Limitation. Hence, The Condone Delay Petition Is Allowed & Delay In Filing The Appeal Is Condoned.

Section 68 of the Act as undisclosed cash credit, the Commissioner of Income Tax (Appeals) Kolkata – 20 [CIT(A)] has done

PR CIT 9, KOLKATA vs. MANISHA TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. POOJA JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX ASANSOL KOLKATA vs. RAJESH JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. AAYUSH JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX ASANSOL KOLKATA vs. RAKESH JHUNJHUNWALA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-SILIGURI vs. SHEKHAR AGARWAL

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1, KOLKATA vs. KRISHNA KUMAR PARSURAMKA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX, SILIGURI vs. PRAKASHO DEVI SARIA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL -1, KOLKATA vs. SURAJ SAHANA

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX 9, KOLKATA vs. PUSPA DEVI TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-15, KOLKATA vs. SMT. BABITA AGARWAL

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX vs. MUKESH SARAOGI (HUF)

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. JEMISH SHAH

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing

PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA vs. GITESH TIKMANI

In the result, these appeals are allowed and the substantial

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

Section 68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing