DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

GOPAL & SONS HUF,KOLKATA vs. I.T.O., WARD - 32(1), KOLKATA, KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED , PATNA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

BALMUKUND CEMENT & ROOFINGS PVT. LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

DCIT CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND LEASE FIN PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

purchase and sale entries were arranged by the same\noperators and were meant to inflate the turnover. Therefore, we find\nmerit in the contention of the Id. AR, who relied heavily on the order of\nthe Id. CIT(A) that since there was no profit realized from these\ntransactions over and above, what has been shown in the books\naccount

MEGHA TRADING CO.,,KOLKATA vs. ITO, WARD 43(1), , KOLKATA

In the result, both the appeals filed by the assessee in ITA Nos

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 69C of the Act on the transactions shown as sales to SINPL. The result of search itself indicated that SINPL had made payments against the purchase of machinery and parts from various entities which were bogus and were involved in providing bogus accommodation entry in the form of bogus sales. Since the purchases were made by SINPL, the disallowance

MEGHA TRADING CO.,,KOLKATA vs. ITO, WARD 43(1), , KOLKATA

In the result, both the appeals filed by the assessee in ITA Nos

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 69C of the Act on the transactions shown as sales to SINPL. The result of search itself indicated that SINPL had made payments against the purchase of machinery and parts from various entities which were bogus and were involved in providing bogus accommodation entry in the form of bogus sales. Since the purchases were made by SINPL, the disallowance

DCIT, CC-2(4), KOLKATA, KOLKATA vs. M/S BALAJI AGRO PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Central Circle-2(4), M/S Balaji Agro Pvt. Ltd. Aaykar Bhavan Poorva, A5-6 Sarkarpool Maheshtala, 4Th Floor, 110 Shantipally, E.M. New Budge Budge Trunk Rd. Vs. Bypass, Kolkata-700107 Gopalpur 24 Paraganas South West Bengal Kolkata-700143, West Bengal (Appellant) (Respondent) Pan No. Aabcb9078M Assessee By : Shri Miraj D Shah, Ar Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 16.07.2025 Date Of Pronouncement: 30.07.2025

10,15,049/- was paid thereon. We note that in the case of Everlight Vincom Private Limited from whom loan of ₹75,00,000/- , interest of ₹2,14,773/- was paid after TDS at source though the said party was not found on the address given by the party. Whereas in respect of the other two lenders

SAROJ BAID,KOLKATA vs. ITO, WARD - 36(3), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

10(38) of the Act for long-term capital gain of Rs.69,42,776/- from sale of equity shares of NCL Research and Financial Services Limited. The case selected for scrutiny through CASS in AST module by valid serving of notices under section 143(2) and 142(1) of the Act. During the course of assessment proceedings, the ld. Assessing