SHRI KOMAL KUMBHAT,GUWAHATI vs. INCOME TAX OFFICER, WARD-2(1), GUWAHATI

Bench: Shri Sanjay Gargi.T.A No.136/Gty/2020 Assessment Year: 2014-15 Shri Komal Kumbhat…………...................................................……Appellant 234, G.N.B Road, 2Nd Floor, Opposite Gauhati Club Bus Stand-Above Sarita Restaurant, Guwahati-781003. [Pan: Aedpk8036P] Vs. Ito, Ward-2(1), Guwahati...…...................……........……...…..…..Respondent Appearances By: Shri H. S. Kumbhat, Ar, Appeared On Behalf Of The Appellant. Shri N. T. Sherpa, Jcit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 14, 2023 Date Of Pronouncing The Order : May 25, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 02.03.2020 Of The Commissioner Of Income Tax (Appeals)- Guwahati-1, Guwahati (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Through Various Grounds Of Appeal Has Agitated Two Issues I.E. (I) Addition Made/Confirmed By The Lower Authorities On Long-Term Capital Gains Claimed By The Assessee Of Rs.21,80,417/- Treating The Same As Bogus & Thereby Adding The Same

investment made by the assessee in the scrip of Kappac Pharma was in the normal course. The peculiar fact is that the said scrip was purchased by the assessee in off market from one Girish Metals Pvt. Ltd. and the payment was made through cash and not through cheque. The shares were not credited in the demat account

SUBHASH CHAND CHORARIA,GUWAHATI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2, GUWAHATI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

TDS certificate and as to not come under the purview of the direct or indirect taxes. Another reason was that the assessee had sold land or investments within the year or the preceding year the transactions of which were done partly in cash and partly through the banking channel. Considering the facts of the case the Ld. AO gave

MAYURPLY INDUSTRIES PVT LTD.,HOOGHLY, WEST BENGAL vs. ACIT, CIRCLE 3, GUWAHATI, ASSAM

In the result IT(SS)A Nos

Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm

unexplained credit of Rs. 4,03,00,000/wrongly invoking the provisions of section 68. (b) For that the Ld. CIT(A) failed to appreciate that the aforesaid addition related to an item of regular assessment and cannot be the subject matter of addition u/s 153A. 3. (a) For that on the facts and in the circumstances of the case

SHRI LIKHA SAAYA,NIRJILI vs. INCOME TAX OFFICER, WARD- NORTH LAKHIMPUR., LAKHIMPUR.

In the result, both the appeals of the assessee are allowed

Bench: S/Shriand Rajesh Kumarand Manmohan Dasita Nos.49 & 50/Gty/2021 Assessment Years : 2010-11 & 2011-12 Shri Likha Saaya S/O. Shri Likha Vs. Ito, Ward-North, Lakhimpur Heli, P-Sector, P.O. Nirjuli, Borah Complex, D.K.Road, North District Papumpare, Arunachal Lakhimpur, Lakhimpur, Assam- Pradesh-791109 787001 Pan/Gir No. (Appellant) .. ( Respondent) Assessee By : Sarala Agarwal. Ar Revenue By : Shri Kausik Ray, Jcit

TDS certificate. The Assessing Officer also noted that the income of the assessee is exempt from tax on the ground of being a Member of Scheduled Tribe of Arunachal Pradesh. The Assessing Officer also estimated the transport income out of total transport contract receipts, at Rs.1,34,40,000/- after deducting all expenses by applying flat rate of 10%, which

SHRI LIKHA SAAYA,NIRJILI vs. INCOME TAX OFFICER, WARD- NORTH LAKHIMPUR., LAKHIMPUR.

In the result, both the appeals of the assessee are allowed

Bench: S/Shriand Rajesh Kumarand Manmohan Dasita Nos.49 & 50/Gty/2021 Assessment Years : 2010-11 & 2011-12 Shri Likha Saaya S/O. Shri Likha Vs. Ito, Ward-North, Lakhimpur Heli, P-Sector, P.O. Nirjuli, Borah Complex, D.K.Road, North District Papumpare, Arunachal Lakhimpur, Lakhimpur, Assam- Pradesh-791109 787001 Pan/Gir No. (Appellant) .. ( Respondent) Assessee By : Sarala Agarwal. Ar Revenue By : Shri Kausik Ray, Jcit

TDS certificate. The Assessing Officer also noted that the income of the assessee is exempt from tax on the ground of being a Member of Scheduled Tribe of Arunachal Pradesh. The Assessing Officer also estimated the transport income out of total transport contract receipts, at Rs.1,34,40,000/- after deducting all expenses by applying flat rate of 10%, which

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

TDS. 17. We also take note that ld. CIT(A) has recorded the following finding in the impugned order partly sustaining the estimated disallowances: “It is yet further noted that the Assessing Officer had also averred that the Appellant had not furnished party-wise details and their addresses (of the parties to whom payments claimed under the expense head “Other

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

TDS. 17. We also take note that ld. CIT(A) has recorded the following finding in the impugned order partly sustaining the estimated disallowances: “It is yet further noted that the Assessing Officer had also averred that the Appellant had not furnished party-wise details and their addresses (of the parties to whom payments claimed under the expense head “Other

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

TDS. 17. We also take note that ld. CIT(A) has recorded the following finding in the impugned order partly sustaining the estimated disallowances: “It is yet further noted that the Assessing Officer had also averred that the Appellant had not furnished party-wise details and their addresses (of the parties to whom payments claimed under the expense head “Other

ABCI INFRASTRUCTURES PRIVATE LIMITED,KOLKATA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

TDS. 17. We also take note that ld. CIT(A) has recorded the following finding in the impugned order partly sustaining the estimated disallowances: “It is yet further noted that the Assessing Officer had also averred that the Appellant had not furnished party-wise details and their addresses (of the parties to whom payments claimed under the expense head “Other

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

TDS. 17. We also take note that ld. CIT(A) has recorded the following finding in the impugned order partly sustaining the estimated disallowances: “It is yet further noted that the Assessing Officer had also averred that the Appellant had not furnished party-wise details and their addresses (of the parties to whom payments claimed under the expense head “Other

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

unexplained expenditure etc. Hence from he above discussion, it is clear that section 153A of the Act can be invoked only if the Assessing Officer comes to a positive conclusion that he has in his possession documents or information revealing an Undisclosed asset of the assessee qua the assessment year (7th to 10th) which is valued Rs.50 lakhs or more

ABCI INFRASTRUCTURES PRIVATE LIMITED,KOLKATA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

unexplained expenditure etc. Hence from he above discussion, it is clear that section 153A of the Act can be invoked only if the Assessing Officer comes to a positive conclusion that he has in his possession documents or information revealing an Undisclosed asset of the assessee qua the assessment year (7th to 10th) which is valued Rs.50 lakhs or more