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

3. The assessee filed the return of income disclosing a total income of Rs. NIL. The return was processed under Section 143(1) of the Act. Subsequently, the case was selected for scrutiny and notices under Section 143(2) and 142(1) were issued and served on the assessee. In response to the said notice, the authorised representative

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

68 of the Income Tax Act or not? 6. We have heard Mr. Soumen Bhattacharjee, learned standing Counsel for the appellant and Ms. Swapna Das and Mr. Siddharth Das, learned Counsel appearing for the respondent/assessee. 7. As an interesting question of law arises for consideration in this appeal, we requested Mr. J.P. Khaitan, learned senior counsel to assist

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 of the Act. The assessee was informed that penalty proceeding under section 271(1)(c) will be initiated separately. The assessee carried the matter on appeal

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. M/S HALMIRA ESTATE TEA PRIVATE LIMITED

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

20(3). 5.5. He further contended that the 850-day delay in retraction, characterized by the Revenue as an afterthought, must be weighed against the attending circumstances and the lack of independent corroboration. Relying on the principles of natural justice highlighted in Ajay Saraogi (supra), Commissioner of Customs Airport and Adm. v. Himadri Chakraborty (supra), and the Bombay High Court

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals

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

68 of the Act does not arise. ITAT NO. 06 OF 2022 AND ETC. BATCH Page 20 of 150 6. The assessing officer after taking into consideration the submissions made by the assessee and the documents produced by the assessee noted that from the contract notes, it was seen that the assessee purchased 50,000 shares in Surabhi Chemicals