PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

4 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd. M/s. Nishit Agarwal Beneficiary Trust Pinky Agarwal Pratik Agarwal Beneficiary Trust term capital loss, ld. AO has mentioned it as addition towards long term capital gain. 7. As regards the remaining three assessees namely M/s. Nishit Agarwal Beneficiary Trust, Pinky Agarwal

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

4 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd. M/s. Nishit Agarwal Beneficiary Trust Pinky Agarwal Pratik Agarwal Beneficiary Trust term capital loss, ld. AO has mentioned it as addition towards long term capital gain. 7. As regards the remaining three assessees namely M/s. Nishit Agarwal Beneficiary Trust, Pinky Agarwal

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

4 of 74 I.T.A. Nos.: 982, 983, 984 & 2068/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd. M/s. Nishit Agarwal Beneficiary Trust Pinky Agarwal Pratik Agarwal Beneficiary Trust term capital loss, ld. AO has mentioned it as addition towards long term capital gain. 7. As regards the remaining three assessees namely M/s. Nishit Agarwal Beneficiary Trust, Pinky Agarwal

RUSSEL CREDIT LIMITED,KOLKATA vs. PCIT, KOL, KOLKATA

The appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Sanjay Awasthiassessment Year: 2018-19

132-144 and again at pages 149-167). Through this response the appellant laid out the conspectus of facts surrounding this issue and also placed reliance on CBDT Instruction dated 02.05.2016 (supra) to canvass the point that this Instruction directs the Assessing Officer to treat gain arising from transfer of unlisted shares under the head “Capital Gain”. From the paper

DCIT, CC-3(3), KOLKATA, KOLKATA vs. AMICUS REAL ESTATE PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: SHRI SANJAY GARG, HON’BLE (Judicial Member), DR. MANISH BORAD, HON’BLE (Accountant Member)

132 of the Act on 23/12/2014, assessment for Assessment Year 2010-11, was not pending and thus falls in the category of completed/unabated Assessment Year. Now, for the year under appeal, the ld. Assessing Officer has made additions under two heads, firstly unexplained advances and deposits at Rs.1,92,00,000/- and unexplained share capital at Rs.1

SURESH KUMAR PODDAR,KOLKATA vs. I.T.O., WARD - 63(4), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR (Accountant Member)

capital gain and Rs. 73,60,000/- was added in respect of investment in shares of M/s Shri Ganesh Spinners Limited, controlled and manage Shri Shah. The assessment was framed by the AO was affirmed by the Ld. CIT(A). 6. The ld AR vehemently submitted that the assessment framed by the AO u/s 144/147 of the Act vide order

SAMIT RAY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

4 ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit Ray Assessing Officer has passed the assessment order under section 153A on 30.09.2021. The paragraph no. 3 of this order also deserves to be noted, which reads as under:- “3. After verification of seized materials

MALIKA ROY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

4 ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit Ray Assessing Officer has passed the assessment order under section 153A on 30.09.2021. The paragraph no. 3 of this order also deserves to be noted, which reads as under:- “3. After verification of seized materials

ARATI RAY,KOLKATA vs. DCIT, CEN. CIR. -3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

4 ITA No. 778/KOL/2024 (A.Y. 2014-2015)- Arati Ray ITA No. 779/KOL/2024 (A.Y. 2014-2015)-Mallika Roy ITA No. 780/KOL/2024 (A.Y. 2014-2015)-Samit Ray Assessing Officer has passed the assessment order under section 153A on 30.09.2021. The paragraph no. 3 of this order also deserves to be noted, which reads as under:- “3. After verification of seized materials

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

gain, etc. Accordingly, the assessee was called upon to furnish the details which were furnished by the assessee by submitting that the ITA Nos.1728 & 1729/KOL/2024 Dollar Holding Pvt. Ltd; A.Y. 15-16 and 17-18 amalgamating company as on the date of merger had investments amounting to ₹93,01,00,000/- which was acquired by the assessee company pursuant

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

gain, etc. Accordingly, the assessee was called upon to furnish the details which were furnished by the assessee by submitting that the ITA Nos.1728 & 1729/KOL/2024 Dollar Holding Pvt. Ltd; A.Y. 15-16 and 17-18 amalgamating company as on the date of merger had investments amounting to ₹93,01,00,000/- which was acquired by the assessee company pursuant

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

gains, as the assessee was enjoying the property for more than 36 months. 15. In the case of CIT v. Ved Prakash Rakhra [2012] 26 taxmann.com 166/210 Taxman 605 (Kar.), the Court took note of the decision in the case of V.V. Mody (supra) and after noting that the said decision refers to the insertion of sub-Clause

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BRGD SPONGE & IRON PRIVATE LIMITED , KOLKATA

In the result, the appeal of the Revenue is dismissed and the appeal\nof the assessee is allowed

132 of the Act, offered a summary discloser of\nincome as undisclosed and the department accepted the summary\nsurrender of income and thereafter advance tax for the said surrendered\nof income was also deposited, but thereafter it was contended by the\nassessee that the surrender was made under threat or coercion and that\nno incriminating material was found during

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

In the result, the appeal of the Revenue is dismissed and the appeal\nof the assessee is allowed

132 of the Act, offered a summary discloser of\nincome as undisclosed and the department accepted the summary\nsurrender of income and thereafter advance tax for the said surrendered\nof income was also deposited, but thereafter it was contended by the\nassessee that the surrender was made under threat or coercion and that\nno incriminating material was found during

SHRI RAGHVENDRA MOHTA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2014-15

gain from sale of shares of Ashika Credit Capital Ltd. of Rs.29,73,500/- for sale of Rs.42,27,500/- which has been claimed as exempt u/s. 10(38) of the Act. Several other disallowance/additions were made towards bogus interest u/s. 69C, interest expenditure attributable to negative capital, u/s. 14A read with Rule 8D and on account of dividend stripping

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

4) (ITAT Kolkata) (iii) Atul G Puranik vs. ITO (11 ITR (Trib.) 120) (ITAT Mum (iv) Sowmya Sathyan vs ITO (124 taxmann.com 74) (ITAT Bangalore) (v) M/s Kancast Pvt. Ltd. vs. ITO (55 taxmann.com 171) (ITAT Pune) (vi) Voltas Ltd. v. ITO (74 taxmann.com 99) (ITAT Mum) (vii) Shri Farid Gulmohammed vs. ITO (ITA No. 5136/Mum/2014) (ITAT Mum) (viii

NAVANSH VINIMAY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

132 in April 2010 to Rs. 221 in October 2010. After which there was a share split in the ratio 1:2. The Price for FY 2010-11 ended on Rs. 225. The price rose to a peak of Rs. 383.501-. After which it made a nose dive to Rs. 48 per share in the month of August 2011. Again

ANINDYA SARKAR,KOLKATA vs. A.D.I.T., CPC, BENGALURU, BENGALRU

The appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2020-21

132/- and Capital Gains of Rs. 4,57,352/-. Since, the salary income was from Singapore, taxes were paid in Singapore and relief under Section