AMIT KUMAR,DELHI vs. INCOME TAX OFFICER, WARD 1(1), GUWAHATI, INCOME TAX OFFICER

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

bogus and raw material supplier was non-existent, then the issue whether the purchases were made from some other parties, was irrelevant and the said payment was be treated as income from undisclosed sources. In the case of Kanak Impex (India) Ltd (supra), the Hon'ble Bombay High Court, also did not accept the submission of the assessee that

D M JEWELLERS,GUWAHATI vs. ADDITIONAL / JOINT / DEPUTY / ASSISTANT COMMISSIONER OF INCOME TAX/INCOME-TAX OFFICER, GUWAHATI

In the result, the appeal of the assessee is allowed for statistical purposes only

Bench: Shri Manomohan Das, Hon’Ble & Shri Sanjay Awasthi, Hon’Ble

money in the form of bogus purchases. No unexplained cash credit or fictitious entry has been identified in the appellant

RISHI AGARWAL,GUWAHATI vs. ITO, WARD-2(2), GUWAHATI, GUWAHATI

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

Bench: Shri Manomohan Das & Shri Rakesh Mishra

Unexplained Investment on account of bogus purchase…..”. vi. The Ld AO after giving proper opportunity to be heard and considering the submissions made by the appellant assessee went ahead and made the reasonable addition amounting to Rs 3,53,35,148/- u/s 69C of the Income Tax Act, 1961.Thus, the argument of the appellant in its ground no.-2 that

ACCRECENT WAY MARKETING (P) LTD.,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

Bench: Shri Manomohan Das & Shri Rakesh Mishra

unexplained cash credit. The relevant extracts from the order are as under: “11. We have gone through the facts of the case, the written submissions filed by both the Ld. AR and the Ld. Sr. DR as well as the case laws cited. A similar issue came up for consideration before the Hon’ble Jurisdictional High Court

INCOME TAX OFFICER, WARD-2, SHILLONG vs. SATINDER SINGH DHARIWAL, KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2016-17

unexplained money. Ld. AO treated it as sale of bogus shares earned through paper/shell companies. 9. Aggrieved, assessee went in appeal before the Ld. CIT(A). Ld. CIT(A) noted that assessee served in the Defense Forces during the period under consideration. He observed that Ld. AO has reached the conclusion without conducting any independent enquiry as to whether assessee

AGRIM INFRAPROJECT PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, this appeal of the assessee i

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

unexplained cash credit on account of share capital/security premium/share application money was uncalled for, unjustified and thus the same be deleted. (8) For that in the facts and circumstance of this case the material based on which the Ld Assessment Officer passed the assessment order are collected behind the back of the assessee and which were not provided during

AGRIM INFRAPROJECT PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, this appeal of the assessee i

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

unexplained cash credit on account of share capital/security premium/share application money was uncalled for, unjustified and thus the same be deleted. (8) For that in the facts and circumstance of this case the material based on which the Ld Assessment Officer passed the assessment order are collected behind the back of the assessee and which were not provided during

AGRIM INFRAPROJECT PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, this appeal of the assessee i

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

unexplained cash credit on account of share capital/security premium/share application money was uncalled for, unjustified and thus the same be deleted. (8) For that in the facts and circumstance of this case the material based on which the Ld Assessment Officer passed the assessment order are collected behind the back of the assessee and which were not provided during

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

purchase of some properties, which did not materialise and, therefore, the cash was deposited back into the bank accounts of the assessee. Therefore, once the sources of cash deposits are explained to be out of withdrawals of cash from the bank account of the assessee, then same cannot be added to the income of the assessee as unexplained money

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

purchase of some properties, which did not materialise and, therefore, the cash was deposited back into the bank accounts of the assessee. Therefore, once the sources of cash deposits are explained to be out of withdrawals of cash from the bank account of the assessee, then same cannot be added to the income of the assessee as unexplained money

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

money to those companies, then it is to be construed that all transactions of any person connected or not would be considered as bogus. It is very farfetched inference of the Department for harboring belief that income of the assessee has escaped assessment. 27. The ld. Counsel for the assessee has brought to our notice the following submissions:- “In regard

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

money to those companies, then it is to be construed that all transactions of any person connected or not would be considered as bogus. It is very farfetched inference of the Department for harboring belief that income of the assessee has escaped assessment. 27. The ld. Counsel for the assessee has brought to our notice the following submissions:- “In regard

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

Money as contained in the Third SIT Report, the SEBI has suspended the trading activities of the shares of Kappac Pharma Ltd. (Script Code 506938) w.e.f. 07.01.2015. 4. The Assessing Officer further issued summons u/s 131 of the Act to the assessee. In response to which the father of the assessee appeared before the Assessing Officer whose statement was also

D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplainedly s with unexplainedly “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi Chemicals. On the other hand, it must also be noted that some of the Chemicals. On the other hand, it must also be noted that some of the Chemicals

D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplainedly s with unexplainedly “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi Chemicals. On the other hand, it must also be noted that some of the Chemicals. On the other hand, it must also be noted that some of the Chemicals

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. BHAGWATI DEVII BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplainedly s with unexplainedly “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi Chemicals. On the other hand, it must also be noted that some of the Chemicals. On the other hand, it must also be noted that some of the Chemicals

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. VISHAL BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplainedly s with unexplainedly “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi Chemicals. On the other hand, it must also be noted that some of the Chemicals. On the other hand, it must also be noted that some of the Chemicals

DCIT, CIRCLE-1, DIBRUGARH vs. BAJRANG LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplainedly s with unexplainedly “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi “weak fundamentals” such as SRK Industries Ltd and Surabhi Chemicals. On the other hand, it must also be noted that some of the Chemicals. On the other hand, it must also be noted that some of the Chemicals