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Section 10(38)5 Section 143(3)2 Section 682

DCIT,CENTRAL CIRCLE-5(1), KOLKATA,KOLKATA vs. M/S PRB SECURITIES PVT.LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 211/KOL/2017[2013-14]Status: DisposedITAT Kolkata05 Dec 2018AY 2013-14

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 211/Kol/2017 Assessment Year : 2013-14 Dcit, Circle-5(1), Kolkata -Vs- M/S Prb Securities Pvt. Ltd. [Pan: Aabcp 5425 G ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri Manish Tiwari, AR

Section 143(3)

244 and the judgment of the Supreme Court of India in the case of CIT v. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC). Thus the appellant having discharged the burden, it is the Revenue which had to verify the genuineness of the transaction and the primarily in case AO did not discharge the burden which had shifted

M/S BIHARI LAL MALPANI,KOLKATA vs. ITO, WARD 43(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed