DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI vs. SANKHA PRESS PVT LTD, GUWAHATI

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

depreciation at 15% did not cease to Sankha Press Pvt. Ltd.; A.Ys. 2016-17 & 2017-18 ITA No. 126& 127/GTY/2025 & CO No. 4&5/GTY/2025 exist, the profit shown in Profit and Loss account on account of sale of motor vehicle was adjusted in the return of income by reducing the said profit from the net profit as per books

TRIPURA STATE ELECTRICITY CORPORATION LTD.,TRIPURA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA, AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LTD.,AGARTALA vs. INCOME TAX OFFICER, WARD - UDAIPUR , AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LTD.,AGARTALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA , AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LIMITED ,AGARTALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA, AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LIMITED ,AGARTALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA, AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LIMITED ,AGARTALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA, AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LIMITED ,AGARTALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA, AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

TRIPURA STATE ELECTRICITY CORPORATION LTD.,AGARTALA vs. INCOME TAX OFFICER, WARD - UDAIPUR , AGARTALA

Bench: Sh. S.S.Godara & Dr. A.L. Saini

unexplained liabilities for expenditure and miscellaneous expenditure involving sums of Rs. 6,88,50,090/- and 1,20,29,699/- as well as sundry creditors’ liability of Rs. 13,20,42,370/-; respectively deserve to be restored back to the Assessing Officer since the same involve reconciliation of the corresponding details involving various operational circles and divisions throughout the Tripura

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

unexplained expenditure.” 23. In this regard, during the course of the assessment proceedings, the assessee had furnished the copies of the corresponding ledger accounts. The assessee had also explained to ld. AO that, owing to multiple sites especially in remote areas of North-Eastern India and owing to lack of competent staff at such sites, there is no uniformity

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

unexplained expenditure.” 23. In this regard, during the course of the assessment proceedings, the assessee had furnished the copies of the corresponding ledger accounts. The assessee had also explained to ld. AO that, owing to multiple sites especially in remote areas of North-Eastern India and owing to lack of competent staff at such sites, there is no uniformity

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

unexplained expenditure.” 23. In this regard, during the course of the assessment proceedings, the assessee had furnished the copies of the corresponding ledger accounts. The assessee had also explained to ld. AO that, owing to multiple sites especially in remote areas of North-Eastern India and owing to lack of competent staff at such sites, there is no uniformity

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

unexplained expenditure.” 23. In this regard, during the course of the assessment proceedings, the assessee had furnished the copies of the corresponding ledger accounts. The assessee had also explained to ld. AO that, owing to multiple sites especially in remote areas of North-Eastern India and owing to lack of competent staff at such sites, there is no uniformity

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

unexplained expenditure.” 23. In this regard, during the course of the assessment proceedings, the assessee had furnished the copies of the corresponding ledger accounts. The assessee had also explained to ld. AO that, owing to multiple sites especially in remote areas of North-Eastern India and owing to lack of competent staff at such sites, there is no uniformity

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

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. M/S. LINKSTAR PROMOTERS (P) LTD, KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

unexplained share capital and share premium received in the year. Aggrieved, the assessee preferred appeal before the ld. CIT(Appeals). 8. The assessee apart from raising the grounds on merit challenging the additions made by the ld. Assessing Officer also challenged the validity of the re-assessment proceedings carried out under section 147 read with section

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. M/S. WINNER DEALTRADE (P) LTD.,, KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

unexplained share capital and share premium received in the year. Aggrieved, the assessee preferred appeal before the ld. CIT(Appeals). 8. The assessee apart from raising the grounds on merit challenging the additions made by the ld. Assessing Officer also challenged the validity of the re-assessment proceedings carried out under section 147 read with section