DCIT,CC-1(3),KOLKATA, KOLKATA vs. SAMRIDDHI METALS PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

purchase of shares is bogus. 5.3(c) In the assessment order, AO has alleged that Nilachal Ispat Pvt. Ltd. was generating cash by selling some of its low quality products in cash. AO has further alleged that proof of cash generation for the period 01-01-2016 to 30-09-2016 was found in the seized documents. However, appellant

DCIT,CC-1(3),KOLKATA, KOLKATA vs. DISHA REALCON PVT. LTD., KOLKATA

In the result, all the captioned appeals of the revenue are dismissed and the Cross Objection of the assessee is allowed