MANGILAL JAIN ,DARJEELING vs. ITO, WARD - 3(3), DARJEELING , DARJEELING

Appeal is allowed

Bench: Shri S.S, Godaraassessment Year:2014-15 Mangilal Jain Income Tax Officer, बनाम / C/O Advocate Pradip Ward-3(3), Nr. Lal V/S. Lakhotia, 2Nd Floor, Metro Kothi, Darjeeling Plaza, Sf Road, Siliguri-734005 [Pan No.Afkpj 4178 D] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Dhiraj Lakhotia, A.R अपीलाथ" क" ओर से/By Appellant Shri C.J. Singh, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 05-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R This Assessee’S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income-Tax (Appeals)-Siliguri’S Order Dated 22.03.2018 Passed In Case No.69/Cit(A)/Slg/2016-17, 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 Grievance Raised In The Instant Appeal Seeks To Reverse Both The Lower Authorities Findings Treating His Short Term Capital Loss (Stcl) Arising From Sale Of Shares After Payment Of Security Transaction Tax (Stt), Amounting To ₹1,92,320/- As Bogus Unexplained Cash Credits. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- “4. Decision :- I Have Perused The Assessment Order, The Grounds Of Appeal & The Submissions Made By The Ld.. A/R On Behalf Of The Appellant. My Observations & Findings Are As Under :- 4.1. The Present Appeal Emanates After Disallowing Rs. 11,92,320/- Arising Out Of Shares Transaction & Treated The Same As Bogus. In This Case The Assessee Purchased 32000 Shares Of Global Infratech & Finance Ltd. Through Eureka Stock & Shares Broking Services Limited @ Rs. 77.37 Per Share Aggregating To Rs. 24,79,714/- On 11.02.2014 & Further Sold The

133A and recording of statement u/s 131. It has been pointed out by the A.O. that it has been admitted by a number of persons involved in running such entities of their role in arranging these share transaction. It has been revealed that the shares of Global Infratech & Finance Ltd. have been used by different share brokers for providing bogus

ACIT, CIR-40, KOLKATA, KOLKATA vs. M/S LUMENS INDIA, KOLKATA

In the result, the appeal filed by the revenue is dismissed

Bench: : Shri P.M Jagtap & Shri S.S.Viswanethra Ravi

bogus. The statement of the said Shree Shyam Bagaria is so general in nature that does not support the view that, the appellant had not made any purchases from the three concerns.] There is no material on record to show that cross- examination of statement was allowed. In this case, all the transactions are duly recorded in the books

M/S. K.R. TRADELINK PRIVATE LIMITED. ,HOWRAH vs. NE-AC, DELHI. , DELHI.

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

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

133A of the Act made the addition by disallowing entire purchases by treating the same as bogus purchases after invoking the provisions of section

M/S. ALLOY STEEL EMPORIUM PVT. LTD.,KOLKATA vs. ITO, WARD - 4(3), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed

bogus purchase. Other grounds were not pressed by the assessee. 4. The brief facts qua the issue are that a survey proceeding u/s 133A was conducted by the Income Tax Officer, in the business premises of the company named M/s.Vikash Iron & Steels Pvt. Ltd. During the survey proceeding it was found that M/s. Vikash Iron & Steels Pvt. Ltd, raised fake

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

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

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

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search and seizure

DEPUTY COMMISSOENR OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

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

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

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search and seizure

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)- 3(1), KOLKATA, KOLKATA vs. AUXINITE SUPPLIERS PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed and CO of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Pan No. Aaecb3974H Co No. 11/Kol/2025 (Arising In Ita No. 139/Kol/2025 For A.Y. 2019-20) Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Assessee By : S/Shri Rajeeva Kumar & Giridhar Dhelia, Ars Revenue By : Shri V. Vidhyadhar, Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 02.04.2026

bogus shareholders, the Revenue can reopen their individual assessment and addition cannot be made in the hands of the recipient company: "On the facts and in the circumstances of the case, Ld. CIT(A) ought to have upheld the assessment order as the transaction entered into by the assessee was a scheme for laundering black money into white money

JAIN INFRA PROJECTS LTD.(SINCE TAKEN OVER BANGAL CONSTRUCTION CO.),KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

bogus purchase of plant and machinery in the Financial Year 2005-06 from M/s D.K.Enterprises. so, the fixed assets came from erstwhile partnership firm and the present management was not aware of these facts as this was not in control of its affairs. As such it was argued that the false claim was initiated by the erstwhile firma

ITO, WARD 22(2), KOLKATA, KOLKATA vs. M/S. K.B. MEDICAL AGENCY, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

M/S. K.B. MEDICAL AGENCY,KOLKATA vs. ITO, WARD 22(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

M/S. K.B. MEDICAL AGENCY,KOLKATA vs. ITO, WARD 22(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

ITO, WARD 22(2), KOLKATA, KOLKATA vs. M/S. K.B. MEDICAL AGENCY, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

ITO, WARD 22(2), KOLKATA, KOLKATA vs. M/S. K.B. MEDICAL AGENCY, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

M/S. K.B. MEDICAL AGENCY,KOLKATA vs. ITO, WARD 22(2), KOLKATA, KOLKATA

In the result, the appeals of the Revenue in I

Bench: Shri S.S.Godara, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1209,1210&1211/Kol/2017 (िनधा"रणवष" / Assessment Years :2010-11 To 2012-13

Section 40A(3) of the Act. 4. The ld. CIT(A) erred in confirming the addition of Rs.4,30,819/- on account of bogus purchases (A.Y. 2013-14) 5. The ld. CIT(A) erred in confirming the addition of Rs. 38,750/- on account of reconciled credit notes for goods returned. (A.Y. 2013-14) We note that cross objections filed

I.T.O.,WARD-36(2), KOLKATA vs. M/S SR ENGINEERING CORPORATION , KOLKATA

In the result, all the four appeals of the assessee and both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Hon’Ble(Kz) & S. S. Godara, Hon’Ble] [Through Virtual Court] I.T.A. Nos. 1455 To 1458 /Kol/2019 Assessment Year: 2011-12 To 2014-15 M/S. S.R. Engineering Corporation.................................................................................Appellant Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Vs Ito, Ward – 36(1), Kolkata...................…………………………………………………..........Respondent Kolkata – 700 069. & I.T.A. Nos. 1585 & 1586 /Kol/2019 Assessment Year: 2011-12 & 2012-13 Ito, Ward – 36(1), Kolkata...................…………………………………………………..............Appellant Kolkata – 700 069. Vs M/S. S.R. Engineering Corporation.............................................................................Respondent Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Appearances By: Shri Miraj D Shah, Ar Appearing On Behalf Of The Assessee. Shri Dhrubajyoti Ray, Jcit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 08, 2020 Date Of Pronouncing The Order : October 22, 2020 Order Per P.M. Jagtap, Vice-(Kz)

133A of the Act on 10.05.2016 by the Directorate of Investigation, Kolkata who admitted that he was the operator of various entities to provide bogus bills to various beneficiaries in lieu of commission. As found by the Investigation Wing, the assessee was one of such beneficiaries and had received the bogus bills from the fake entities of Shri Sanjiw Kumar

S.R.ENGINEERING CORPORATION,KOLKATA vs. I.T.O.,WARD-36(2), KOLKATA

In the result, all the four appeals of the assessee and both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Hon’Ble(Kz) & S. S. Godara, Hon’Ble] [Through Virtual Court] I.T.A. Nos. 1455 To 1458 /Kol/2019 Assessment Year: 2011-12 To 2014-15 M/S. S.R. Engineering Corporation.................................................................................Appellant Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Vs Ito, Ward – 36(1), Kolkata...................…………………………………………………..........Respondent Kolkata – 700 069. & I.T.A. Nos. 1585 & 1586 /Kol/2019 Assessment Year: 2011-12 & 2012-13 Ito, Ward – 36(1), Kolkata...................…………………………………………………..............Appellant Kolkata – 700 069. Vs M/S. S.R. Engineering Corporation.............................................................................Respondent Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Appearances By: Shri Miraj D Shah, Ar Appearing On Behalf Of The Assessee. Shri Dhrubajyoti Ray, Jcit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 08, 2020 Date Of Pronouncing The Order : October 22, 2020 Order Per P.M. Jagtap, Vice-(Kz)

133A of the Act on 10.05.2016 by the Directorate of Investigation, Kolkata who admitted that he was the operator of various entities to provide bogus bills to various beneficiaries in lieu of commission. As found by the Investigation Wing, the assessee was one of such beneficiaries and had received the bogus bills from the fake entities of Shri Sanjiw Kumar

I.T.O.,WARD-36(2), KOLKATA vs. S.R.ENGINEERING CORPORATION, KOLKATA

In the result, all the four appeals of the assessee and both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Hon’Ble(Kz) & S. S. Godara, Hon’Ble] [Through Virtual Court] I.T.A. Nos. 1455 To 1458 /Kol/2019 Assessment Year: 2011-12 To 2014-15 M/S. S.R. Engineering Corporation.................................................................................Appellant Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Vs Ito, Ward – 36(1), Kolkata...................…………………………………………………..........Respondent Kolkata – 700 069. & I.T.A. Nos. 1585 & 1586 /Kol/2019 Assessment Year: 2011-12 & 2012-13 Ito, Ward – 36(1), Kolkata...................…………………………………………………..............Appellant Kolkata – 700 069. Vs M/S. S.R. Engineering Corporation.............................................................................Respondent Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Appearances By: Shri Miraj D Shah, Ar Appearing On Behalf Of The Assessee. Shri Dhrubajyoti Ray, Jcit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 08, 2020 Date Of Pronouncing The Order : October 22, 2020 Order Per P.M. Jagtap, Vice-(Kz)

133A of the Act on 10.05.2016 by the Directorate of Investigation, Kolkata who admitted that he was the operator of various entities to provide bogus bills to various beneficiaries in lieu of commission. As found by the Investigation Wing, the assessee was one of such beneficiaries and had received the bogus bills from the fake entities of Shri Sanjiw Kumar

S.R.ENGINEERING CORPORATION,KOLKATA vs. I.T.O.,WARD-36(2), KOLKATA

In the result, all the four appeals of the assessee and both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Hon’Ble(Kz) & S. S. Godara, Hon’Ble] [Through Virtual Court] I.T.A. Nos. 1455 To 1458 /Kol/2019 Assessment Year: 2011-12 To 2014-15 M/S. S.R. Engineering Corporation.................................................................................Appellant Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Vs Ito, Ward – 36(1), Kolkata...................…………………………………………………..........Respondent Kolkata – 700 069. & I.T.A. Nos. 1585 & 1586 /Kol/2019 Assessment Year: 2011-12 & 2012-13 Ito, Ward – 36(1), Kolkata...................…………………………………………………..............Appellant Kolkata – 700 069. Vs M/S. S.R. Engineering Corporation.............................................................................Respondent Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Appearances By: Shri Miraj D Shah, Ar Appearing On Behalf Of The Assessee. Shri Dhrubajyoti Ray, Jcit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 08, 2020 Date Of Pronouncing The Order : October 22, 2020 Order Per P.M. Jagtap, Vice-(Kz)

133A of the Act on 10.05.2016 by the Directorate of Investigation, Kolkata who admitted that he was the operator of various entities to provide bogus bills to various beneficiaries in lieu of commission. As found by the Investigation Wing, the assessee was one of such beneficiaries and had received the bogus bills from the fake entities of Shri Sanjiw Kumar

S.R.ENGINEERING CORPORATION,KOLKATA vs. I.T.O.,WARD-36(2), KOLKATA

In the result, all the four appeals of the assessee and both the appeals of the revenue are dismissed

Bench: Shri P.M. Jagtap, Hon’Ble(Kz) & S. S. Godara, Hon’Ble] [Through Virtual Court] I.T.A. Nos. 1455 To 1458 /Kol/2019 Assessment Year: 2011-12 To 2014-15 M/S. S.R. Engineering Corporation.................................................................................Appellant Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Vs Ito, Ward – 36(1), Kolkata...................…………………………………………………..........Respondent Kolkata – 700 069. & I.T.A. Nos. 1585 & 1586 /Kol/2019 Assessment Year: 2011-12 & 2012-13 Ito, Ward – 36(1), Kolkata...................…………………………………………………..............Appellant Kolkata – 700 069. Vs M/S. S.R. Engineering Corporation.............................................................................Respondent Stephen House, 6Th Floor, Room No. 101, 56E, Hemanta Basu Sarani, Kolkata – 700 001. [Pan: Absfs 6791 B] Appearances By: Shri Miraj D Shah, Ar Appearing On Behalf Of The Assessee. Shri Dhrubajyoti Ray, Jcit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 08, 2020 Date Of Pronouncing The Order : October 22, 2020 Order Per P.M. Jagtap, Vice-(Kz)

133A of the Act on 10.05.2016 by the Directorate of Investigation, Kolkata who admitted that he was the operator of various entities to provide bogus bills to various beneficiaries in lieu of commission. As found by the Investigation Wing, the assessee was one of such beneficiaries and had received the bogus bills from the fake entities of Shri Sanjiw Kumar