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

96,000/-) is deleted. Therefore, these grounds raised by the assessee are partly allowed.” Balmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24 Balmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24 Balmukund Sponge and Iron Private Limited; A.Y. 23-24 5.3. After hearing the rival contentions and perusing the materials available

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

96,000/-) is deleted. Therefore, these grounds raised by the assessee are partly allowed.” Balmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24 Balmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24 Balmukund Sponge and Iron Private Limited; A.Y. 23-24 5.3. After hearing the rival contentions and perusing the materials available

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

96,000/-) is deleted. Therefore, these grounds raised by the assessee are partly allowed.” Balmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24 Balmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24 Balmukund Sponge and Iron Private Limited; A.Y. 23-24 5.3. After hearing the rival contentions and perusing the materials available

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.\"\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

The appeal of the Revenue is dismissed

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\n5. 3. After hearing the rival contentions and perusing

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

96,000/-) is deleted. Therefore, these\ngrounds raised by the assessee are partly allowed.”\nPage 6\n5. 3. After hearing the rival contentions and perusing the materials\navailable on record, we find that the Id. CIT(A) has treated the cash\ntransactions in the name of Shri Vijay Aggarwal Rs.83,00,000/- and\nShri Naresh Dalmia Cash A/C Rs.2

SATYA PRAKASH SHARMA ,KOLKATA vs. PR.CIT, KOLKATA - 12, KOLKATA

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

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am]

bogus purchases to the tune of Rs.4,43 cr. We note that the AO had issued “reasons to reopen” vide letter dated 10.08.2015 (refer pages 42-43 paper book) and pursuant to which the assessee filed his reply vide letter dated 31.08.2015 (refer pages 44-48 paper book) and AO thereafter issued notice u/s. 142(1) dated 15.10.2015 pursuant

SATYA PRAKASH SHARMA ,KOLKATA vs. PR.CIT, KOLKATA - 12, KOLKATA

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

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am]

bogus purchases to the tune of Rs.4,43 cr. We note that the AO had issued “reasons to reopen” vide letter dated 10.08.2015 (refer pages 42-43 paper book) and pursuant to which the assessee filed his reply vide letter dated 31.08.2015 (refer pages 44-48 paper book) and AO thereafter issued notice u/s. 142(1) dated 15.10.2015 pursuant

SATYA PRAKASH SHARMA ,KOLKATA vs. PR.CIT, KOLKATA - 12, KOLKATA

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

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am]

bogus purchases to the tune of Rs.4,43 cr. We note that the AO had issued “reasons to reopen” vide letter dated 10.08.2015 (refer pages 42-43 paper book) and pursuant to which the assessee filed his reply vide letter dated 31.08.2015 (refer pages 44-48 paper book) and AO thereafter issued notice u/s. 142(1) dated 15.10.2015 pursuant

BINOD KUMAR TEKRIWAL HUF,KOLKATA vs. PRINCIPAL CIT - 10, KOLKATA , KOLKATA

In the result, these three appeals of three assessees are allowed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1134/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11)

96 taxmann.com 286 (Calcutta) held that in case of unexplained expenditure on Purchases, only profit embedded in transaction which can be added to total income. Findings of the Hon`ble court is given below: “9. According to the Appellate Tribunal the value of the entire quantity of additional stocks that were discovered in course of the survey operation could

SHRI PRAMOD KUMAR TEKRIWAL,KOLKATA vs. PRINCIPAL CIT - 10, KOLKATA , KOLKATA

In the result, these three appeals of three assessees are allowed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1134/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11)

96 taxmann.com 286 (Calcutta) held that in case of unexplained expenditure on Purchases, only profit embedded in transaction which can be added to total income. Findings of the Hon`ble court is given below: “9. According to the Appellate Tribunal the value of the entire quantity of additional stocks that were discovered in course of the survey operation could

SANDIP KUMAR TEKRIWAL HUF,KOLKATA vs. PRINCIPAL CIT - 10, KOLKATA , KOLKATA

In the result, these three appeals of three assessees are allowed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1134/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11)

96 taxmann.com 286 (Calcutta) held that in case of unexplained expenditure on Purchases, only profit embedded in transaction which can be added to total income. Findings of the Hon`ble court is given below: “9. According to the Appellate Tribunal the value of the entire quantity of additional stocks that were discovered in course of the survey operation could

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA, KOLKATA vs. M/S. HINDUSTHAN ENGINEERING & INDUSTRIES LTD., , KOLKATA

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.952/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

section 69C of the Act. SLP dismissed” 17. We note that in any event if the assessing officer wants to make addition on account of bogus purchases, he may make addition only percentage based on gross profit of preceding years, for that assessee relied on the judgment of the Hon`ble Calcutta High Court in the case of PCIT