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

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

The appeal of the Revenue is dismissed

unexplained cash transactions, bogus purchases, and unsecured loans. The Commissioner of Income-tax (Appeals) partly allowed some appeals and deleted some additions, leading to the present appeals before the Tribunal.", "held": "The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeals. It held that cash transactions, if presented as investments

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

purchases and sales were deemed fictitious and profit was already offered, no further disallowance was warranted.", "result": "Allowed", "sections": [ "69A", "147", "148", "143(3)", "132", "69C", "292C", "68", "133(6)", "36(1)" ], "issues": "Whether cash transactions recorded in seized documents constitute unexplained money or investments. Whether additions for alleged bogus

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\nexpenses\n2020-21\nSunbright Trexim Pvt Ltd\nRs.1,05,00,000/-\nRs.5,03,372/-\nShristi Investment Pvt Ltd\nRs.80,00,000/-\nRs.3,80,213/-\nShrey Finance & Investment Pvt Ltd\nRs.90,00,000/-\nRs.4,19,607/-\nGinvani Merchants Pvt Ltd\nRs.20,00,000/-\nRs.92,951/-\nAssam Hire Purchase Co Pvt Ltd\nRs.1,46,00,000/-\nRs.5,29,354/-\nVishesh Marketing

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

The appeal of the Revenue is dismissed

unexplained cash transactions, alleged suppressed sales, bogus purchases, and unsecured loans.", "held": "The Tribunal held that cash entries in the nature of investments

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

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 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

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

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

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

DEPUTY COMMISSOENR 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

SAROJ EMBRODS PRIVATE LIMITED. ,HOOGHLY vs. DCIT,C.C-3(4), KOLKATA. , KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoysarma]

unexplained expenditure which was claimed by the assessee in the form of purchases in the assessment framed u/s 143(3)/147 of the Act vide order dated 29.12.2019. 3 I.T.A. Nos.1351 & 1352/Kol/2023 Assessment Years: 2015-16 & 2016-17 Saroj Embrods Pvt. Ltd. 5. In the appellate proceedings, the assessee challenged the order of AO both on legal issue as well