SHRI BUDHRAJ AGARWAL,KOLKATA vs. ITO, WARD-43(6) , KOLKATA

In the result, the appeal filed by the assessee is allowed in the legal issue as well as on merit

Bench: Sri Rajesh Kumar & Sonjoy Sarma

Gains or Short Term Capital Loss by various beneficiaries. The AO also failed to analyze the DIT's report and the various names of the brokers and share dealers who were perpetrating the large economic scam adopting this unique modus operandi of artificially hiking the share price even when there was no inherent value of the company to generate

SOMNATH SAHA,KOLKATA vs. ITO WARD-38(4), PASCHIM MEDINIPUR

In the result, appeal of the assessee is allowed on legal issue

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 127(1) of the Act deal with only for transferring the cases within his jurisdiction and not outside. 4. The Ld. A.R pointed out that the said order should pass u/s 127(2) of the Act which provides for transferring the case outside other than his jurisdiction. The Ld. A.R therefore submitted that order passed by ITO, Ward

JYOTI JHA,JAIPUR vs. ACIT (IT), CIRCLE-2(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sanjay Garg, Hon’Blei.T.A. No. 225/Kol/2023 Assessment Year: 2014-15 Jyoti Jha Acit(It), Circle-2(1), Kolkata Kalani & Co. Chartered Accountants Vs 5Th Floor, Milestone Building Gandhinagar Turn Tonk Road Jaipur - 302015 [Pan : Aezpj7440J] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri P.C. Parwal, Fca Revenue By : Shri Sunil Kr. Agarwala, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 10/08/2023 घोषणा क" तारीख /Date Of Pronouncement: 16/10/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned Appeal Is Directed At The Instance Of The Assessee Against The Directions Of The Dispute Resolution Panel – 2, New Delhi, (Hereinafter The “Ld. Drp”) Dt. 05/12/2022, Passed U/S 144C(5) Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. The Ld. Ao Has Erred On Facts & In Law In Assessing The Income Under The Head Capital Gain At Rs.41,46,0917- As Against Nil Income Declared By The Assessee On The Basis Of Direction Of Drp Ignoring That The Amount Of Capital Gain Has Been Invested In Purchase Of Flat Before The Time Available For Filing The Return U/S 139 & Thus Eligible For Deduction U/S 54 Of The Act Even If The Sale Deed Was Executed Subsequently. He Has Further Erred In Observing That Assessee Has Failed To Produce Documentary Evidence In Support Of Claim Ignoring That The Same Was Filed Before The Drp. 2. The Ld. Ao Has Erred On Facts & In Law In Making Addition Of Rs. 7,41,700/- In Respect Of Cash Deposit In The Bank Account U/S 68 Of The Act As Per The Direction Of Drp. He Has Further Erred In Holding That Assessee Failed To Produce Documentary Evidence In Support Of Averments In The Affidavit.

capital gain in question, for the purchase of residential flat at Gurgaon within stipulated time limit as provided u/s 54F of the Act and the deduction claimed in the year under appeal is even less than the investment made by the assessee for the purchase of the property at Gurgaon. Hon’ble Bombay High Court in the case

BRAJESH NARNOLIA,JHARKHAND vs. ITO,WD-1(1), ASANSOL. , ASANSOL

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 799/Kol/2023 Assessment Year: 2015-2016 Brajesh Narnolia,…………………………..........Appellant 419, City Center, Luby Circular Road, Dhanbad-826001, Jhankhand [Pan: Aczpn0347G] -Vs.- Income Tax Officer,.................................Respondent Ward-1(1), Asansol, Aayakar Bhawan, Room No. 3, Ground Floor, 116, Vivekananda Sarani, Kanyapur, Asansol-713341, West Bengal Appearances By: Shri S.S. Gupta, A.R., Appeared On Behalf Of The Assessee Shri B.K. Singh, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : January 15, 2024 Date Of Pronouncing The Order : January 17, 2024 O R D E R

Capital Gain derived by the assessee in the purchase and sale of shares of the said company i.e. Sulabh Engineers and Services Limited have been accepted as genuine by Hon'ble Tribunal Benches i.e., Hon'ble Kolkata ITAT, Hon'ble Chennai ITAT and Hon'ble Lucknow ITAT. Vasudha Jain vs ITO - Kolkata ITAT 1. 5mt. Suman Kothari vs ITO - Kolkata

SHRI SANTANU SANYAL,KOLKATA vs. ACIT, CIR. 2(1), KOLKATA

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

Bench: Dr. Manish Borad & Pradip Kumar Choubey

capital gains of Rs. 2,30,238/- from of sale of equity share and equity-oriented fund, while giving effect to the Impugned Order. Page 3 of 12 I.T.A. No.: 41/KOL/2024 Assessment Year: 2016-17 Shri Santanu Sanyal. 9. That the Ld. AO erred on facts and in law in not granting exemption under Section 10(34) on dividend income

NISHA BAHETI,KOLKATA vs. ACIT, CIR-11(2), KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Nisha Baheti C/O S.N. Ghosh & Associates, Acit, Cir-11(2), Advocates 2, Garstin Place, Aaykar Bhavan, P-7, 2Nd Floor, Suite No.203, Off Chowringhee Square, Vs. Hare Street, Kolkata-700001, Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) Pan No. Ahmpb0320M Assessee By : Shri Somnath Ghosh, Ar Revenue By : Ms. Roma Chaudhary, Dr Date Of Hearing: 21.04.2025 Date Of Pronouncement : 02.05.2025

Capital Gain on sale of script of Surabhi Chemical & Investments Ltd. Which was claimed u/s 10(38) of the Act as exempt. 04. In the appellate proceedings, the ld. CIT (A) dismissed the appeal of the assessee by holding that the burden of proof was not discharged by the assessee by proving the purchase and sales of the shares

AJIT KUMAR,BOKARO vs. ACIT, CIRCLE 2(1), IT, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

capital gain received from Alankit Limited and Fireweb India Limited during the relevant previous year. The assessee filed petition u/s 144C r.w.s. 147/148 of the Act before the Dispute Resolution Panel, New Page 2 of 7 I.T.A. No.: 243/KOL/2024 Assessment Year: 2018-19 Ajit Kumar. Delhi. The Hon'ble DRP passed direction u/s 144C(5) of the Act wherein

ADITI MITRA,KOLKATA vs. I.T.O., WARD - 37(3), KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 25/Kol/2025 Assessment Year: 2012-2013 Aditi Mitra,…………………………………...……Appellant Flat No. 401, Block No. 12, Ujaas, The Condoville, 69, S.K. Deb Road, Kolkata-700048, West Bengal [Pan:Aczpb6415H] -Vs.- Income Tax Officer,…………………………....Respondent Ward-37(3), Kolkata, 3, Government Place (West), Kolkata-700001

127 of the Income Tax Rules, 1962 and section 144B of the Income Tax Act, 1961. Finally, the assessee approached the ld. A.R. to prefer an appeal, due to that there was a delay of 251 days in filing the appeal before the Tribunal. Therefore, he pleaded to condone the delay. 3. Considering the facts and circumstances of the case

PS MAGNUM,KOLKATA vs. A.C.I.T.,CIRCLE-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

M/S COALSALE CO.,KOLKATA vs. A.C.I.T.,CIRCLE-34, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

HIRALAL BHANDARI,KOLKATA vs. ITO, WARD-37(1), KOLKATA, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

M/S H.K.DUTTA & CO.,KOLKATA vs. A.C.I.T.,CIRCLE-37, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

REACHASIA,KOLKATA vs. ACIT, CIR.-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

REACHASIA,KOLKATA vs. A.C.I.T.,CIRCLE-29, KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section

TARASAFE INTERNATIONAL PRIVATE LIMITED ,KOLKATA vs. D.C.I.T.,CIRCLE-15(2), KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

gain was a bogus claim. The Hon’ble Court has considered the material collected by the Investigating Wing of the Department on the premises of certain companies ,who were manipulating the stocks or indulging any accommodation entry business. If we apply the ratio of this judgment upon these cases, then it would reveal that the benefit of claim under section