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

bogus purchases the assessee was covering the purchases made from the grey market which were purchased at lesser price. It would kindly be appreciated that the facts of the case in hand is that both the purchases and the sale are fictitious, as such, it would gratuitously be appreciated that the decision of the Hon'ble Tribunal relied upon

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

bogus purchases the assessee was covering the purchases made from the grey market which were purchased at lesser price. It would kindly be appreciated that the facts of the case in hand is that both the purchases and the sale are fictitious, as such, it would gratuitously be appreciated that the decision of the Hon'ble Tribunal relied upon

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

bogus purchases the assessee was covering the purchases made from the grey market which were purchased at lesser price. It would kindly be appreciated that the facts of the case in hand is that both the purchases and the sale are fictitious, as such, it would gratuitously be appreciated that the decision of the Hon'ble Tribunal relied upon

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

68 of the Income Tax Act was not applicable. For bogus purchases, it was noted that if sales were genuine, purchases could not be entirely disallowed, and profit element was considered. Several additions were deleted based on lack of evidence or contrary judicial pronouncements.", "result": "Allowed", "sections

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

68 additions were deleted. In cases of alleged bogus purchases, the Tribunal found that if sales were genuine, corresponding purchases could not be entirely denied, and profit element should be considered. Similarly, where both purchases and sales were deemed fictitious and profit was already offered, no further disallowance was warranted.", "result": "Allowed", "sections

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALAJEE MINI STEELS & REROLLING PRIVATE LIMITED , PATNA

In the result, the appeals of the Revenue are dismissed

Bench: Shri Rajesh Kumar, Am\Nand\Nshripradip Kumar Choubey, Jm\Nita Nos.1688 To 1691/Kol/2025\N(Assessment Years: 2015-16 To 2018-19)\Nita No. 1725/Kol/2025\N(Assessment Year: 2016-17)\Ndcit, Central Circle 4(3)\Nbalajee Mini Steels & Rerolling\Naaykar Bhawan Poorva, 110,\Nprivate Limited\Nshantipally, Kolkata-700107,\N603, Shantikunj Apartment,\Nkolkata\Nphulwanipatna, G.P.O.800001,\N(Appellant)\Nvs.\Npatna\Npan No. Aabcb7265J\N(Respondent)\Nassessee By\N: Shri Manish Rastogi, Ar\Nrevenue By\N: S/Shri Praveen Kishore &\Npradeep Dungdung, Drs\Ndate Of Hearing:\N01.12.2025\Ndate Of Pronouncement: 15.12.2025\Norder\Nper Rajesh Kumar, Am:\Nthese Appeals Preferred By The Revenue Against The Orders Of The Commissioner Of Income-Tax (Appeals), Kolkata-27 (Hereinafter Referred To As The “Ld. Cit(A)”] Dated 13.04.2025 For The Ays 2015-16 To 2018-19.\N2.\Nas The Facts & Issues In All The Appeals Of Revenue Are Exactly Identical, Hence, For The Sake Of Brevity, We Take Ita No. 1688/Kol/2025 For A.Y. 2015-16 & Decide The Issue Accordingly.\Nα.Υ. 2015-16\N3.\Nthe Only Issue Raised By The Revenue Is Against The Deletion Of Addition By The Id. Cit (A) Of ₹1,07,03,817/- As Made By The Id. Ao On Account Of Suppression Of Income In Respect Of Bogus Purchases.\N3.

bogus purchases the assessee was covering the purchases made from the grey market which were purchased at lesser price. It would kindly be appreciated that the facts of the case in hand is that both the purchases and the sale are fictitious, as such, it would gratuitously be appreciated that the\ndecision of the Hon'ble Tribunal relied upon

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALAJEE MINI STEELS & REROLLING PRIVATE LIMITED , PATNA

In the result, the appeals of the Revenue are dismissed

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

bogus purchases the assessee was covering the purchases made from the grey market which were purchased at lesser price. It would kindly be appreciated that the facts of the case in hand is that both the purchases and the sale are fictitious, as such, it would gratuitously be appreciated that the ITA Nos. 1688 to 1691/KOL/2025&1725/KOL/2025 Balajee Mini Steels

HILTON COMMODITIES PVT. LTD.,KOLKATA vs. ITO, WARD-5(3), KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Hilton Commodities Pvt. Ltd. Ito, Ward 5(3) 9/12, Lal Bazar Street, Aaykar Bhavan, P-7, Mercantile Building, Block-B, Chowringhee Square, Vs. 3Rd Floor, No.10, Kolkata-700069, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aacch1011P Assessee By : Shri Soumitra Choudhury, Ar Revenue By : Shri S Datta, Cit Dr Date Of Hearing: 08.01.2025 Date Of Pronouncement : 24.02.2025

Purchase P. Limited (supra). The Hon'ble Court has held as under:- “We have heard Ms. Smita Das De, learned senior standing counsel appearing for the appellant/revenue and Mr. Abhratosh Majumdar, learned senior advocate appearing for the respondent/assessee. The short question which falls for consideration is whether the learned Tribunal was right in affirming the order passed by the Commissioner

M/S SHREENATH HOLDINGS PVT. LTD.,HOWRAH vs. I.T.O.,WARD-5(1), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy, Hon’Ble] I.T.A. No. 2390/Kol/2019 Assessment Year: 2012-13 M/S. Shreenath Holding Pvt. Ltd…………...……………....……..…………..………………....……Appellant 33/34, Ramlal Mukherjee Lane 2Nd Floor Room No. 2D Howrah - 711106 [Pan: Aadcs 5887 P] Vs. Income Tax Officer, Ward-5(1), Kolkata…………………………..............….....….…......Respondent Appearances By: Shri Sunil Surana, A/R, Appeared On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue Date Of Concluding The Hearing : February 24Th, 2020 Date Of Pronouncing The Order : February 26Th, 2020 O R D E R Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – 2, Kolkata, (Hereinafter The “Ld.Cit(A)”), Passed U/S. 250 Of The Income Tax Act, 1961 (The ‘Act’), Dt. 17/10/2019, For The Assessment Year 2012-13. 2. The Assessee Is A Company & Is Engaged In The Business Of Trading & Distribution Of Goods. It Filed Its Return Of Income On 16/08/2012 Declaring Total Income Of Rs.15,500/-. During The Year, The Assessee Raised Share Capital Including Premium Amounting To Rs.1,13,55,000/-. The Assessing Officer Conducted Enquiries & The Assessee Presented The Share Holders Including The Directors Of The Share Holding Companies Before The Assessing Officer. After Due Enquiry, The Assessing Officer Accepted The Explanations Of The Assessee That The Cash Credits In The Form Of Share Capital Were Genuine, Except In The Case Of M/S. Seacom Merchants, Which Had Applied For Shares. An Amount Of Rs. 20,00,000/- Pertaining To M/S. Seacom Merchants, Was Added.

bogus shareholders then it is for the Income Tax Officer to proceed b then it is for the Income Tax Officer to proceed by reopening the assessment of such y reopening the assessment of such shareholders and assessing them to tax in accordance with law. It does not entitle shareholders and assessing them to tax in accordance with

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

The appeal of the Revenue is dismissed

bogus purchases, it was found that the AO could not establish their fictitious nature without corroborative evidence and that disallowing purchases would necessitate disallowing corresponding sales, which is not permissible. Unsecured loans were found to be genuine, and repayment before search or in subsequent financial years, coupled with proper documentation, meant section 68

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

The appeal of the Revenue is dismissed

sections": [ "147", "148", "69A", "132", "133(6)", "131", "292C", "68", "69C", "115JB", "139(1)" ], "issues": "Whether additions made by the AO on account of unexplained cash transactions, suppressed sales, bogus purchases

ITO, WARD - 6(1), KOLKATA , KOLKATA vs. M/S. DELIGHT GRIH NIRMAN PVT. LTD., , KOLKATA

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1755/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13)

purchased at Rs.7,24,347/- in M/s Delight GrihNirman Pvt. Ltd. Assessment Year: 2012-13 thefinancial year 2010-11. (Current Market value of the office premise is significantlyhigher than its Book Value). By submitting these details and documents, the assessee has proved three ingredients of section 68 of the Act, namely: identity, creditworthiness and genuineness andhence, there should

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

The appeal of the Revenue is dismissed

section 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund

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

The appeal of the Revenue is dismissed

section 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund

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

The appeal of the Revenue is dismissed

section 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund

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 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nbe resold to same parties in substance therefore the transaction was more

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

The appeal of the Revenue is dismissed

section 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund

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

The appeal of the Revenue is dismissed

section 68 of the Act\nBefore the Commissioner (Appeals) it as submitted by the assessee that raw hides\nwere purchased from the four parties under consideration on the understanding that\nafter the hides were processed and the finished leather was produced the same would\nPage 17\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund