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 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

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 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

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 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

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

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

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Balmukund Concast Pvt. Ltd. Dcit, Cc 4(3) 108 Kalyani Complex, Exhibition Aaykar Bhawan, Kolkata-700069 Vs. Road, Patna-800001, Bihar West Bengal (Respondent) (Appellant) Pan No. Aaacb9503G

bogus purchases. Thus, once, the CESTAT and the Tribunal have held the purchases made by the four Jammu based entities to be genuine, the corresponding sales effected by them to the assessee have to be accepted as genuine. ITA Nos. 1380,1892 & 1893/KOL/2025 Balmukund Concast Pvt. Ltd; A.Y. 2019-20 & 2023-24 11. In that scenario, in our considered view

BALMUKUND CONCAST PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Balmukund Concast Pvt. Ltd. Dcit, Cc 4(3) 108 Kalyani Complex, Exhibition Aaykar Bhawan, Kolkata-700069 Vs. Road, Patna-800001, Bihar West Bengal (Respondent) (Appellant) Pan No. Aaacb9503G

bogus purchases. Thus, once, the CESTAT and the Tribunal have held the purchases made by the four Jammu based entities to be genuine, the corresponding sales effected by them to the assessee have to be accepted as genuine. ITA Nos. 1380,1892 & 1893/KOL/2025 Balmukund Concast Pvt. Ltd; A.Y. 2019-20 & 2023-24 11. In that scenario, in our considered view

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

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

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Balmukund Concast Pvt. Ltd. Dcit, Cc 4(3) 108 Kalyani Complex, Exhibition Aaykar Bhawan, Kolkata-700069 Vs. Road, Patna-800001, Bihar West Bengal (Respondent) (Appellant) Pan No. Aaacb9503G

bogus purchases. Thus, once, the CESTAT and the Tribunal have held the purchases made by the four Jammu based entities to be genuine, the corresponding sales effected by them to the assessee have to be accepted as genuine. ITA Nos. 1380,1892 & 1893/KOL/2025 Balmukund Concast Pvt. Ltd; A.Y. 2019-20 & 2023-24 11. In that scenario, in our considered view

PREMLATA BAID,KOLKATA vs. D.C.I.T CC - XXVII,KOLKATA, KOLKATA

In the result, the appeals of the respective assessees are allowed

Bench: : Shri M. Balaganesh

purchased bogus capital gains by paying cash money to Shri Narendra Shyamsukha, the learned CIT(A) glossed over the facts that the neither Shri Narendra Shyamsukha could adduce any evidence about receipt of cash money from the appellant nor could the AO get any evidence in that regard and also that the actual broker viz. Ahila Commercial P.Ltd had completely

M/S GANESHMULL BIJAY SINGH BAID (HUF),KOLKATA vs. D.C.I.T CC - XXVII,KOLKATA, KOLKATA

In the result, all the appeals of the respective assessee are allowed

Bench: : Shri M. Balaganesh

purchased bogus capital gains by paying cash money to Shri Narendra Shyamsukha, the learned CIT(A) glossed over the facts that the neither Shri Narendra Shyamsukha could adduce any evidence about receipt of cash money from the appellant nor could the AO get any evidence in that regard and also that the actual broker viz. Ahila Commercial P.Ltd had completely

CHAINROOP BOHRA.,KOLKATA vs. DCIT CC - XXVII/CAL., KOLKATA

In the result, all these four appeals of the assessees are allowed

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

bogus long term capital gain. Now, as per the provisions of section 292C, the first presumption is that the said seized papers I.T.A. No. 24/KOL./2013, ITA No. 26/KOL/2012 Assessment year: 2005-2006 Page 8 of 14 belong to Shri Shyamsukha and the noting made on these papers are true. However, on the basis of this presumption, it cannot

RAINBOW VANIJYA PVT LTD.,NEW DELHI vs. ACIT, KOLKATA

In the result, the appeal of the assessee is allowed

bogus by relying on the decision of Hon'ble Bombay High Court in case of PCIT Vs. Konak Impex (India) Ltd. (2025) 172 taxmann.com 283 (Bom). The Id. AR submitted that the said decision of the Hon'ble Bombay High Court is distinguishable on facts and is not applicable to the assessee's case by referring to the facts