DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(4), KOLKATA, KOLKATA vs. MIRA BIBI, MURSHIDABAD

In the result, the appeal of the revenue is dismissed

bogus\nand the assessee's own money. Hence, the said amount was added back to the total\nincome of the assessee u/s 68 of the Act.\n5.2.2. In the Income Tax Act, 1961, the section deals with taxability of gifts is section\n56(2). More specifically, if the gift was given in the period 01.10.2009 to 31.03.2017,\nthe striking section

M/S EVAN VINIMAY PVT. LTD.,AGRA vs. PR, C.I.T.-4, KOLKATA

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

vii) List of shareholders viii) Details of bank accounts 21. The Second AO acknowledges in his order sheet as on 19.5.2016 that he had issued summons u/s 131 of the Act and pursuant to which thirteen (9) share subscribing companies respective Directors had appeared before him on 1.06.2016, and they were examined along with their respective books of accounts

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\n2016-17\n2017-18\n2018-19\n2019-20\n2020-21\n2021-22\nAmount

M/S. SHAKAMBHARI ISPAT & POWER LTD.,KOLKATA vs. DCIT, CC - 3(3),, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\n2016-17\n2017-18\n2018-19\n2019-20\n2020-21\n2021-22\nAmount

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/-\n2020

M/S BRIDHI DISTRIBUTORS PVT. LTD.,AGRA vs. PR.CIT-4, KOLKATA

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

vii) List of shareholders viii) Details of bank accounts 21. The Second AO acknowledges in his order sheet as on 19.5.2016 that he had issued summons u/s 131 of the Act and pursuant to which thirteen (13) share subscribing companies respective Directors had appeared before him on 30/31.05.2016, and they were examined along with their respective books of 18 Bridhi

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n2020

D.C.I.T., CC - 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n22,00,38,030/-\n2020

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n22,00,38,030/-\n2020

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\n2016-17\n2017-18\n2018-19\n2019-20\n2020-21\n2021-22\nAmount

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n2020

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3.1, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n2020

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n22,00,38,030/-\n2020

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/\n2020

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), KOLKATA

Appeals of the assessee are partly allowed and\nappeals of the revenue are dismissed

2 & 3 in respect of alleged transaction of purchase of\ncoal with Anup Majhee and addition made thereto for different\n assessment years as follows:-\n Assessment Year\nAmount (in Rs.)\n2016-17\n2,02,84,550/-\n2017-18\n3,70,00,000/-\n2018-19\n25,14,67,500/-\n2019-20\n29,93,22,967/-\n2020

AMRITRASHI INFRA(P) LTD.,KOLKATA vs. PR.C.I.T.-4, KOLKATA

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2012-13 Amritrashi Infra Private Ltd. Vs. Principal Commissioner Of Income-Tax- (Pan: Aakca2544E) 4, Kolkata.

vii) List of shareholders viii) Details of bank accounts 26. The AO also acknowledges in his re-assessment / second assessment order that he has examined the aforesaid details and thereafter issued notices u/s. 133(6) of the Act to all 18 Amritrashi Infra Private Limited,AY- 2012-13 the shareholders and directed them to prove their identity, genuineness and creditworthiness

M/S GOODPOINT STOCKIST PVT LTD,KOLKATA vs. PCIT-4, KOLKATA

Bench: Shri A. T. Varkey, Jm &Shrigirishagrawal, Am]

vii) share holders list (viii) Bank account details. The second AO has acknowledged in his reassessment order that he has examined the details furnished before him. And that he has verified the identity, creditworthiness &genuinety of share subscribers as well as the source of fund. And he has recorded in his re-assessment/second assessment order that ShriVinay Kumar Singh

SMT. SUCHARITA KAR,KOLKATA vs. ITO, WARD-55(1), KOLKATA, KOLKATA

In the result, the appeal of assessee is partly allowed

Bench: Shri M.Balaganesh & Shri S.S.Viswanethra Ravi

56(2)(vii) of the Act is unjust and uncalled for .The contention of the assessing officer is opposed to requirement of law and bad in law. 5. For that disallowance of 50% expenses under the head Sales Promotion amounting to Rs.88,245/- u/s 37(1) of the Act is without having any basis, unjustified and uncalled