SHYAMASHREE FINVEST (P) LTD,GUWAHATI vs. INCOME TAX OFFICER, WARD7(3), KOLKATA

In the result, the appeal filed by the assessee in I

Bench: Dr. Manish Borad & Sri Sonjoy Sarma

investment is duly explained and ld. AO firstly erred to make the addition for the said amount and secondly erred to make addition under the wrong Section i.e. Section 68 of the Act which relates to unexplained

INDER CHAND SAND,SILCHAR vs. INCOME TAX OFFICER, WARD-2, SILCHAR

In the result, both the appeals filed by the assessees in ITA

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

unexplained credits u/s 68 of the Act. 9. That the Authorities erred in treating the capital gains declared by the assessee from transfer of shares of M/s.Pine Animations Ltd & shares of M/s. Jackson Investments Ltd of Rs. 50,40,340/- u/s 68 of the IT Act. 10. That the Authorities erred in resorting to section

SAROJ DEVI SAND,SILCHAR vs. INCOEM TAX OFFICER, WARD-3, SILCHAR

In the result, both the appeals filed by the assessees in ITA

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

unexplained credits u/s 68 of the Act. 9. That the Authorities erred in treating the capital gains declared by the assessee from transfer of shares of M/s.Pine Animations Ltd & shares of M/s. Jackson Investments Ltd of Rs. 50,40,340/- u/s 68 of the IT Act. 10. That the Authorities erred in resorting to section

DEPUTY COMMISSIONER OF INCOME TAX. CIRCLE-AGARTALA, AGARTALA vs. SHRI SATYAJIT SAHA, AGARTALA

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

68 of the Act. I.T.A. No. 190/GTY/2019 CO No. 07/Gty/2019 Shri Satyajit Saha 2.1 The Ld. CIT(A) has discussed these issues at length in paras 7.3 and 9.3, respectively for the two issues, in the impugned order. Needless to say, the Ld. CIT(A) has given relief on these to issues. For the sake of reference, the relevant findings

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

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

FORTRIGHT CONSULTANTS (P) LTD,GUWAHATI vs. INCOME TAX OFFICER, WARD-2(1), GUWAHATI

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

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 193/Gty/2018 Assessment Year: 2014-15 Fortright Consultants Private Income Tax Officer, Ward-2(1) Vs Guwahati Limited T-1, 3Rd Floor Shivam Apartment House No. 99, A.K. Azad Road Rehabari Guwahati -781008 [Pan : Aaccf2203K] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Revenue By : Shri N.T. Sherpa, Jcit सुनवाई क" तारीख/Date Of Hearing : 20/12/2022 घोषणा क" तारीख /Date Of Pronouncement: 20/02/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – Guwahati-1, Guwahati, (Hereinafter The “Ld. Cit(A)”) Dt. 31/03/2018, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act’), For Assessment Year 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Impugned Order Dated 31/03/2018 Passed By The Learned Commissioner Of Income Tax (Appeals), Guwahati-1, Guwahati Is Without Jurisdiction, Illegal, Invalid & Bad-In-Law Being Passed In The Contraventions Of The Principles Of Natural Justice Without Allowing Proper Opportunity Of Being Heard. 2. That The Findings & Observations Of The Learned Commissioner Of Income Tax (Appeals), Guwahati-1, Guwahati Made In His Order Dated 31/03/2018 Are All Perverse & Contrary To The Facts & Laws Of The Case.

section 68 of the Act in complete disregard of the binding judgment of the Hon'ble Jurisdictional Calcutta High Court rendered in the case of CIT vs. Dataware Private Limited [ITAT No. 263 of 2011 and G.A. No. 2856 of 2011]. 8. That the learned Commissioner of Income Tax (Appeals), Guwahati-1, Guwahati had misdirected himself in law in referring

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS RAJ BAMALWA (HUF), 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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS 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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. USHA 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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

D.C.I.T., CIRCLE-1, DIBRUGARH vs. RAVI 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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price

D.C.I.T., CIRCLE-1, DIBRUGARH vs. MADAN 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

investing in a particular security are not always bound by fundamentals. In fact, to say that one must only invest in securities of companies, which are “blue chip”, “with known directors having significant net worth” could not be further from the truth. Investment in a company with weak fundamentals can be for several reasons such as professional advice, reasonable price