M/S GREEN STAR CORPORATION,KOLKATA vs. ACIT, CIRCLE - 45, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed in part

Bench: Hon’Ble Shri J. Sudhakar Reddy, Am & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2011-12

b) In the case of Palki Investments & Trading Co. (P) Ltd vs. ITO Mumbai 71 Taxmann.com 322, Hon'ble Bombay High Court held as under: 9 A.Y 2011-12 M/s. Green Star Corporation Section 271(1)(c), read with section 41(1), of the Income-tax Act, 1961 - Penalty - For concealment of income (False claims) - Assessment year 2005- 06 - During

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. SHRI SIDHANT GUPTA, NEW DELHI

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. DILIP KUMAR MODI, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. SHRI MURARILAL AGARWAL, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. KAMALESH AGARWAL, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. SHRI SANJAY DHINGRA, NEW DELHI

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

JASHOJIT MUKHERJEE,KOLKATA vs. ACIT, CIR-50, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 403/Kol/2017 Assessment Year : 2012-13 Jashojit Mukherjee -Vs- Acit, Circle-50, Kolkata [Pan: Afapm 7208 R] (Appellant) (Respondent)

bogus sundry creditors u/s 41(1) of IT Act despite there is no cessation of liability, which is completely wrong, arbitrary, unjustified and illegal. 5. We have heard the rival submissions and perused the materials available on record. The addition in the sum of Rs 1,08,65,202/- has been made u/s 41(1

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

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

b) above, by applying internal CUP Method. From the Economic Analysis I find that the appellant considered the actual interest rate of 3.6% paid by it on the External Commercial Borrowings procured in US denominated currency to be most appropriate parameter to benchmark the interest rate on the loans advanced to the AEs. The appellant had therefore suo moto offered

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

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

b) above, by applying internal CUP Method. From the Economic Analysis I find that the appellant considered the actual interest rate of 3.6% paid by it on the External Commercial Borrowings procured in US denominated currency to be most appropriate parameter to benchmark the interest rate on the loans advanced to the AEs. The appellant had therefore suo moto offered

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

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

b) above, by applying internal CUP Method. From the Economic Analysis I find that the appellant considered the actual interest rate of 3.6% paid by it on the External Commercial Borrowings procured in US denominated currency to be most appropriate parameter to benchmark the interest rate on the loans advanced to the AEs. The appellant had therefore suo moto offered

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

B' Bench, Kolkata in the case of M/s Om Forging & Engineering Pvt.\nLtd. v. PCIT-1, Kolkata in ITA No. 509 & 510/Kol/2017 order dated 13.12.2017.\nIdentical view is taken by the Hon'ble ITAT, 'C' Bench, Kolkata in the case of DCIT,\nCircle-26(1), Kolkata v. M/s Chein Hsing Tannery in ITA No. 1629/Kol/2017 order\ndated 15.05.2019 wherein estimation

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

B. 1396/KOL/2025 (Assessee’s appeal) 6.1. The issue raised in ground no.1 & 5 are general in nature and therefore, needs no adjudication. 6.2. The issue raised in ground nos. 2 to 4, by the assessee is against the part confirmation of addition by the ld. CIT (A) to the tune of ₹3,79,260/- as against the addition

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

B. 1396/KOL/2025 (Assessee’s appeal) 6.1. The issue raised in ground no.1 & 5 are general in nature and therefore, needs no adjudication. 6.2. The issue raised in ground nos. 2 to 4, by the assessee is against the part confirmation of addition by the ld. CIT (A) to the tune of ₹3,79,260/- as against the addition

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

B. 1396/KOL/2025 (Assessee’s appeal) 6.1. The issue raised in ground no.1 & 5 are general in nature and therefore, needs no adjudication. 6.2. The issue raised in ground nos. 2 to 4, by the assessee is against the part confirmation of addition by the ld. CIT (A) to the tune of ₹3,79,260/- as against the addition

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

B. 1396/KOL/2025 (Assessee’s appeal) 6.1. The issue raised in ground no.1 & 5 are general in nature and therefore, needs no adjudication. 6.2. The issue raised in ground nos. 2 to 4, by the assessee is against the part confirmation of addition by the ld. CIT (A) to the tune of ₹3,79,260/- as against the addition

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

B. 1396/KOL/2025 (Assessee’s appeal) 6.1. The issue raised in ground no.1 & 5 are general in nature and therefore, needs no adjudication. 6.2. The issue raised in ground nos. 2 to 4, by the assessee is against the part confirmation of addition by the ld. CIT (A) to the tune of ₹3,79,260/- as against the addition

ACIT, CIRCLE - 34, KOLKATA , KOLKATA vs. BHAWARLAL ALOKE KUMAR , KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2014-15 Acit, Cicle-34, V/S. Bhawarlal Aloke Kumar Aayakar Poorva, 7Th P-12, New Howrah Bridge Approach Road, 4Th Floor, Floor, 110, Shantipally, Kolkatka-107 Kolkta-700001 [Pan No.Aadfb 0620 N] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Robin Choudhury, Addl. Cit-Dr अपीलाथ" क" ओर से/By Appellant None ""यथ" क" ओर से/By Respondent 04-02-2019 सुनवाई क" तार"ख/Date Of Hearing 03-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee‘S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income Tax (Appeals)-10, Kolkata’S Order Dated 23.01.2018 Passed In Case No.224/Cit(A)-10/C-34/14-15/16-17/Kol, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Case Called Twice. None Appears At The Assessee’S Behest Despite The Registry Having Sent An Rpad Notice. It Is Accordingly Proceeded Ex Parte. 2. Revenue’S Sole Substantive Grievance Raised In The Instant Appeal Seeks To Challenge Correctness Of Cit(A)’S Action Partly Upholding Assessing Officer’S Findings Disallowing Assessee’S Purchase(S) Of ₹3,22,28,000/- Only To The Extent Of 15% Vide Impugned Following Detailed Discussion:- “06. Findings &. Decision:

Section 145 of the Income-tax Act, 1961 - Method of accounting - Estimation of Profits [Bogus purchases] - Assessment year 2006-07 - Assessee was engaged in ,business of trading in steel on wholesale basis - Assessing Officer having found that some of alleged suppliers of steel to assessee had not supplied steel to assessee but had only provided sale bills, held that purchases

M/S G. D. ENTERPRISE,KOLKATA vs. ACIT, CIR-40, KOLKATA, KOLKATA

In the result, we dismiss both the appeal of the assessee as well of Revenue

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 M/S G.D. Enterprise V/S. Acit, Circle-40 1/H/1, Raja Janmenjoy 3, Government Place Road, Kolkata-700010 (West), Kolkat- [Pan No.Aacfg 4533 A] 700001 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri J.M. Thard, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sourav Kumar, Addl. Cit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-01-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-13, Kolkata’S Order Dated 31.12.2015, Passed In Case No.1046/Cit(A)-13/Kol/Cir-45/2014-15, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties Case File Perused. 2. The Assessee’S Sole Substantive Ground Seeks To Reverse Both The Lower Authorities’ Action Treating Its Purchases Amounting To ₹3,39,04,027/- As Bogus In Assessment As Affirmed In Lower Appellate Proceedings. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- “5. Decision 5.1 Appellant'S Submission & Facts Available On Record Is Carefully Considered. The Assessee Has Argued That It Had Made All Payments Through Account Payee Cheque & From Your Petitioner Site There Is No Mistake As Per Law & Income Tax Act. So The Disallowance Of Purchase Against Payment Through Account Payee Cheque Would Not Be False & It May Be Accepted

b) To adopt the concept of real income and restrict the addition on estimating the suppressed income of Rs 7,24,957/- being 45.49% on sales corresponding to alleged ingenuine purchase (45.49% minus 41.75 % on Rs. 1,93,83,886) for which the appellant shall ever remain grateful and oblige.” The ld. CIT(A) after considering the submissions