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 money u/s 69A of the Act. 14.1. Since, we have already decided the issue in ground no. 2 & 3 in ITA No. 1395/KOL/2025 for A.Y. 2015-16 in assessee’s appeal, wherein assessee has challenged the part sustaining of addition

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 money u/s 69A of the Act. 14.1. Since, we have already decided the issue in ground no. 2 & 3 in ITA No. 1395/KOL/2025 for A.Y. 2015-16 in assessee’s appeal, wherein assessee has challenged the part sustaining of addition

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 money u/s 69A of the Act. 14.1. Since, we have already decided the issue in ground no. 2 & 3 in ITA No. 1395/KOL/2025 for A.Y. 2015-16 in assessee’s appeal, wherein assessee has challenged the part sustaining of addition

ACIT, CIRCLE - 34, KOLKATA , KOLKATA vs. BHAWARLAL ALOKE KUMAR , KOLKATA

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2014-15 Acit, Cicle-34, V/S. Bhawarlal Aloke Kumar Aayakar Poorva, 7Th P-12, New Howrah Bridge Approach Road, 4Th Floor, Floor, 110, Shantipally, Kolkatka-107 Kolkta-700001 [Pan No.Aadfb 0620 N] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Robin Choudhury, Addl. Cit-Dr अपीलाथ" क" ओर से/By Appellant None ""यथ" क" ओर से/By Respondent 04-02-2019 सुनवाई क" तार"ख/Date Of Hearing 03-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee‘S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income Tax (Appeals)-10, Kolkata’S Order Dated 23.01.2018 Passed In Case No.224/Cit(A)-10/C-34/14-15/16-17/Kol, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Case Called Twice. None Appears At The Assessee’S Behest Despite The Registry Having Sent An Rpad Notice. It Is Accordingly Proceeded Ex Parte. 2. Revenue’S Sole Substantive Grievance Raised In The Instant Appeal Seeks To Challenge Correctness Of Cit(A)’S Action Partly Upholding Assessing Officer’S Findings Disallowing Assessee’S Purchase(S) Of ₹3,22,28,000/- Only To The Extent Of 15% Vide Impugned Following Detailed Discussion:- “06. Findings &. Decision:

unexplained expenditure in respect or the aforesaid purchases. Consequently, ground 1 to 4 of the Revenue's appeal are dismissed. “ e. ACIT Vs. Ramila Praveen Shah Order dated OS.03.2015 of Hon'ble ITAT, Mumbai Bench in ITA No. 5246/Mum/2013 "6. ----------- If the addition made by the AO. is accepted, then G.P. Ratio of the appellant during the present

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]

invested its unaccounted money out of books in order to purchase diamond from grey market in cash which has been regularise through taking bogus bills from the aforesaid persons. As it has been stated by Rajendra Jain in his answer to question No.15. As it has been stated by Rajendra Jain in his answer to question No.15. The relevant portion

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]

invested its unaccounted money out of books in order to purchase diamond from grey market in cash which has been regularise through taking bogus bills from the aforesaid persons. As it has been stated by Rajendra Jain in his answer to question No.15. As it has been stated by Rajendra Jain in his answer to question No.15. The relevant portion

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]

invested its unaccounted money out of books in order to purchase diamond from grey market in cash which has been regularise through taking bogus bills from the aforesaid persons. As it has been stated by Rajendra Jain in his answer to question No.15. As it has been stated by Rajendra Jain in his answer to question No.15. The relevant portion

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]

invested its unaccounted money out of books in order to purchase diamond from grey market in cash which has been regularise through taking bogus bills from the aforesaid persons. As it has been stated by Rajendra Jain in his answer to question No.15. As it has been stated by Rajendra Jain in his answer to question No.15. The relevant portion

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]

invested its unaccounted money out of books in order to purchase diamond from grey market in cash which has been regularise through taking bogus bills from the aforesaid persons. As it has been stated by Rajendra Jain in his answer to question No.15. As it has been stated by Rajendra Jain in his answer to question No.15. The relevant portion

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 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

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

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

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

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

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

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

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

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

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

In the result, both the appeals of the Revenue are dismissed

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

investment which was duly reflected in the balance sheet of the assessee company in the preceding assessment year. In my opinion, if the sale of share is bogus, then the purchase of the same shares is also bogus. If the case of the Revenue is that assessee’s own money has come back to the assessee in shape of accommodation