DCIT, CIRCLE - 4(2), KOLKATA, KOLKATA vs. M/S SUDARSHAN PAPER & BOARD PVT. LTD., KOLKATA

In the result, both the appeals filed by the revenue are dismissed

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2013-14 Deputy Commissioner Of Income Tax, Circle-4(2), Kolkata.................................................Appellant Vs. M/S. Sudarshan Paper & Board Pvt. Ltd….......……….............................…………………........Respondent 27, Brabourne Road Room No. 311 Kolkata – 700 001 [Pan : Aahcs 1241 F] C.O. No. 33/Kol/2018 Assessment Year: 2013-14 M/S. Sudarshan Paper & Board Pvt. Ltd….......……….............................………………….............Appellant 27, Brabourne Road Room No. 311 Kolkata – 700 001 [Pan : Aahcs 1241 F] Vs. Deputy Commissioner Of Income Tax, Circle-4(2), Kolkata.............................................Respondent Assessment Year: 2014-15 Deputy Commissioner Of Income Tax, Circle-4(2), Kolkata.................................................Appellant Vs. M/S. Sudarshan Paper & Board Pvt. Ltd….......……….............................…………………........Respondent 27, Brabourne Road Room No. 311 Kolkata – 700 001 [Pan : Aahcs 1241 F]

bogus without bringing any material evidence on record to the contrary. bringing any material evidence on record to the contrary. In view of such, In view of such, balance addition of Rs.21,90,181/- is also deleted.” balance addition of Rs.21,90,181/ 5.1. The ld. D/R, could not point out any infirmity in these findings

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

unexplained cash credit from the M/s. Satya Retail Private Limited and from M/s. J.A Infracon Private Limited in his order in paras 5.1 and 5.2 respectively, the Commissioner of Income-tax in the appeal preferred by assessee found on facts and the material before it that the said two cash creditors had Balmukund Lease Fin Private Limited

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

unexplained cash credit from the M/s. Satya Retail Private Limited and from M/s. J.A Infracon Private Limited in his order in paras 5.1 and 5.2 respectively, the Commissioner of Income-tax in the appeal preferred by assessee found on facts and the material before it that the said two cash creditors had Balmukund Lease Fin Private Limited

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

unexplained cash credit from the M/s. Satya Retail Private Limited and from M/s. J.A Infracon Private Limited in his order in paras 5.1 and 5.2 respectively, the Commissioner of Income-tax in the appeal preferred by assessee found on facts and the material before it that the said two cash creditors had Balmukund Lease Fin Private Limited

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

unexplained cash credit from the M/s. Satya Retail Private Limited and from M/s. J.A Infracon Private Limited in his order in paras 5.1 and 5.2 respectively, the Commissioner of Income-tax in the appeal preferred by assessee found on facts and the material before it that the said two cash creditors had Balmukund Lease Fin Private Limited

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

unexplained cash credit from the M/s. Satya Retail Private Limited and from M/s. J.A Infracon Private Limited in his order in paras 5.1 and 5.2 respectively, the Commissioner of Income-tax in the appeal preferred by assessee found on facts and the material before it that the said two cash creditors had Balmukund Lease Fin Private Limited

M/S. GUNNY DEALERS LTD. ,KOLKATA vs. ITO, TECH-1, KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishrai.T.A. No.1373/Kol/2023 Assessment Years: 2012-13 M/S Gunny Dealers Ltd…………………....................…...……………....Appellant C/O Subash Agarwal & Associates, Advocates Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aabcg0019R] Vs. Ito, Tech-1, Kolkata………….……………............................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Assessee. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : April 30, 2024 Date Of Pronouncing The Order : June 27, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 28.11.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Ought To Haye Considered That The Order U/S 143(3) Was Passed By An Authority Who Lacks Jurisdiction Over The Appellant & As Such, The Said Order Is Bad In Law & Is Liable To Be Quashed. 2. For That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Was Not Justified In Confirming The Disallowance Of

bogus purchases made from Smt. Anima Roy. 5. For that on the facts and in the circumstances of the case, the Ld. CIT(A) was not justified in confirming the disallowance of Rs.44,459/- made by the A.O. on account of Employees' contribution to Provident Fund by wrongly invoking the provisions of sec.36(1)(va) r.w.s

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

The appeal of the Revenue is dismissed

bogus purchases, and unsecured loans.", "held": "The Tribunal held that cash entries in the nature of investments cannot be treated as income and documents seized should be read as a whole. It was observed that transactions in WhatsApp chats lacked corroborative material for addition. Unexplained cash credits

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

unexplained cash credits, bogus purchases, and other alleged income. The Commissioner of Income-tax (Appeals) had partly allowed some appeals

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

bogus purchases and sales are justified, and if so, what is the correct method of estimation. Whether unsecured loans, supported by documentation and repaid, can be added as unexplained cash credit

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

unexplained cash credit in respect of unsecured loans besides\nraising the issue of deletion of interest of Rs.19,25,497/- by the learned\nCIT(A) as made by the learned AO in respect of interest paid on bogus\nunsecured loan.\n55. The above addition has been made on account of unsecured loans\nreceived from the following parties :\nΑ.Υ.\nName

M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD.,BURDWAN vs. ACIT, CIRCLE-2, BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

unexplained cash credit. He contended that the Ld.CIT(A) however did not appreciate the facts and circumstances involved in the assessee's case and deleted the addition made by the AO u/s 68 inter alia on the ground that there being no inflow of cash, section 68 was not applicable. He contended that the reliance

ACIT, CIRCLE-1, BURDWAN, BURDWAN vs. M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD., BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

unexplained cash credit. He contended that the Ld.CIT(A) however did not appreciate the facts and circumstances involved in the assessee's case and deleted the addition made by the AO u/s 68 inter alia on the ground that there being no inflow of cash, section 68 was not applicable. He contended that the reliance

MANOJ BEGANI,KOLKATA vs. ACIT, CIRCLE-44, KOLKATA, KOLKATA

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

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

unexplained cash. So far as payments through cheques to Manoj Begani., AYs. 2008-09,2010-11 to 2012-13 & 2014-15 M/s. VITRAG Jewellers Ltd by the assessee are concerned, the same have been settled in cash subsequently as per the statements of these persons. Therefore, this amount of Rs.27,28,000/- is treated as income from undisclosed sources

MANOJ BEGANI,KOLKATA vs. ACIT, CIRCLE-44, KOLKATA, KOLKATA

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

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

unexplained cash. So far as payments through cheques to Manoj Begani., AYs. 2008-09,2010-11 to 2012-13 & 2014-15 M/s. VITRAG Jewellers Ltd by the assessee are concerned, the same have been settled in cash subsequently as per the statements of these persons. Therefore, this amount of Rs.27,28,000/- is treated as income from undisclosed sources

MANOJ BEGANI,KOLKATA vs. ACIT, CIRCLE-44, KOLKATA, KOLKATA

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

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

unexplained cash. So far as payments through cheques to Manoj Begani., AYs. 2008-09,2010-11 to 2012-13 & 2014-15 M/s. VITRAG Jewellers Ltd by the assessee are concerned, the same have been settled in cash subsequently as per the statements of these persons. Therefore, this amount of Rs.27,28,000/- is treated as income from undisclosed sources

MANOJ BEGANI,KOLKATA vs. ACIT, CIRCLE-44, KOLKATA, KOLKATA

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

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

unexplained cash. So far as payments through cheques to Manoj Begani., AYs. 2008-09,2010-11 to 2012-13 & 2014-15 M/s. VITRAG Jewellers Ltd by the assessee are concerned, the same have been settled in cash subsequently as per the statements of these persons. Therefore, this amount of Rs.27,28,000/- is treated as income from undisclosed sources

MANOJ BEGANI,KOLKATA vs. ACIT, CIRCLE-44, KOLKATA, KOLKATA

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

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

unexplained cash. So far as payments through cheques to Manoj Begani., AYs. 2008-09,2010-11 to 2012-13 & 2014-15 M/s. VITRAG Jewellers Ltd by the assessee are concerned, the same have been settled in cash subsequently as per the statements of these persons. Therefore, this amount of Rs.27,28,000/- is treated as income from undisclosed sources