MINTU DAS,KOLKATA vs. ACIT, CIR. 28, KOLKATA

In the result, appeal of the assessee is allowed as per terms indicated above

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No.08/Kol/2024 Assessment Year: 2015-16 Mintu Das………………………...………........………………....Appellant C/O S. N. Ghosh & Associates, Advocates, 2, Garstin Place, 2Nd Floor, Suite No.203, Kolkata –1. [Pan: Adppd3034M] Vs. Acit, Circle-28, Kolkata…….……….…............................…..…..... Respondent Appearances By: Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Appellant. Shri Pradip Biswas, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 21, 2024 Date Of Pronouncing The Order : January 06, 2025 आदेश / Order Per Sonjoy Sarma: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 13.11.2023 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’) Pertaining To Assessment Year 2015-16. 2. In This Appeal, The Assessee Challenged The Validity Of The Assessment Proceedings Completed U/S 143(3) Of The Act & Consequent To That, An Addition Of Rs.69,42,916/- U/S 68 R.W.S. 115Bbe Of The Act & Further Addition Of A Sum Of Rs.4,86,004/- U/S 69 R.W.S. 115Bbe Of The Act. 3. Brief Facts Of The Case Are That The Assessee Filed His Return Of Income On 28.09.2015 By Declaring A Total Income Of Rs.16,50,920/-. The Case Of The Assessee Was Selected For Scrutiny Under Compulsory

capital gain (LTCG) of Rs.66,82,916/- claimed as exempt u/s 10(38) of the Act arose from sale of shares of Kailash Auto Finance. Notices u/s 143(2) and 142(1) of the Act were issued and the assessee submitted supporting documents including brokers note for purchase of shares, sale contract notes of sale of shares and bank statement

INDIAN CHAMBER OF COMMERCE. ,KOLKATA vs. DCIT, CIR-1(1), (EXEMPTION), KOLKATA

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

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

143(3) of the Act. 4. The said order of the AO was assailed before the Ld. CIT(A) and the Ld. CIT(A) after taking into account the contentions and submissions of the assessee enhanced the income after issuing notice u/s 251(2) of the Act on the ground that the AO has wrongly bifurcated the income into business

INDIAN CHAMBER OF COMMERCE,KOLKATA vs. DCIT,CIR-1(1), (EXEMPTION), KOLKATA. , KOLKATA

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

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

143(3) of the Act. 4. The said order of the AO was assailed before the Ld. CIT(A) and the Ld. CIT(A) after taking into account the contentions and submissions of the assessee enhanced the income after issuing notice u/s 251(2) of the Act on the ground that the AO has wrongly bifurcated the income into business

DEEPAK KEDIA,KOLKATA vs. ACIT, CIR-43, KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Sri Rajesh Kumar & Sonjoy Sarma

capital gain in penny stocks. Accordingly, notice u/s 143(2) of the Act was issued on 28.08.2015 which was duly served upon the assessee and finally the assessment was framed vide order dated 27.12.2016 passed u/s 143(3) of the Act by ACIT, Circle-43, Kolkata. 4. According to Ld. Counsel for the assessee since the income tax return filed

HARBANS SINGH BAGGA,KOLKATA vs. DCIT,CIR-11(1), KOLKATA. , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.1231/Kol/2023 Assessment Year: 2014-15 Harbans Singh Bagga.…....………………………… ........................……Appellant A-7 Rajasthali, No-3 Jamadar Khan Lane Near Copper House, Kolkata – 700019. [Pan: Afbpb0526J] Vs. Dcit, Circle-11(1), Kolkata................…................…........……...…..…..Respondent Appearances By: Shri Sunil Surana, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 13, 2024 Date Of Pronouncing The Order : September 11, 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 22.09.2023 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 Contested The Addition Made By The Assessing Officer Of Rs.1,14,41,888/- Treating The Long-Term Capital Gains Claimed By The Assessee As Bogus. The Assessee Has Contested The Validity Of The Aforesaid Additions Not Only On Merits But Also On The Ground That The Concerned Assessing Officer Did Not Have The Pecuniary Jurisdiction To Pass The Assessment Order In Question By Way Of Additional Legal Ground. Since The Additional Legal Ground Taken By The

capital gains claimed by the assessee as bogus. The assessee has contested the validity of the aforesaid additions not only on merits but also on the ground that the concerned Assessing Officer did not have the pecuniary jurisdiction to pass the assessment order in question by way of additional legal ground. Since the additional legal ground taken by the I.T.A

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO, WARD 1(3), EXEMPTION , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey]

143 Taxmann.com 278 (SC) and also other various High Court decisions. For the sake of ready reference the operative part of the order in AY 2015-16, 2016-17 and 2017-18 is extracted below: “5. After hearing the rival contentions and perusing the facts involved in these assessment years and also the coordinate bench decision in assessee

THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. I.T.O., WARD - 1(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

143 Taxmann.com 278 (SC) and also other various High Court decisions. For the sake of ready reference the operative part of the order in AY 2015-16, 2016-17 and 2017-18 is extracted below: “5. After hearing the rival contentions and perusing the facts involved in these assessment years and also the coordinate bench decision in assessee

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

143(3) of the Act was passed wherein the Assessing Officer (hereinafter referred to as Ld. 'AO') made an addition of ₹76,04,62,428/- on account of long-term capital gains on transfer of land, leading to the assessed income of ₹76,05,98,310/-. Aggrieved with the assessment order, the assessee filed an appeal before

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

143(3) of the Act was passed wherein the Assessing Officer (hereinafter referred to as Ld. 'AO') made an addition of ₹76,04,62,428/- on account of long-term capital gains on transfer of land, leading to the assessed income of ₹76,05,98,310/-. Aggrieved with the assessment order, the assessee filed an appeal before

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

2. That the Ld. Pr. CIT passed a perverse Order in setting aside on grounds that the assessment order passed u/s 143(3) is erroneous and prejudicial to the interest of revenue. 3. That the Ld. Pr. CIT erred in law in interpreting the provisions of section 263 which says ‘commissioner may call for and examined the records

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

capital and share premium received by the assessee during the year under consideration. 3. Being aggrieved by the said order of the Assessing Officer, the assessee preferred appeal before the CIT(A), however, the ld. CIT(A) vide impugned order dated 08.09.2020 has deleted the additions so made by the Assessing Officer. 4. Being aggrieved by the said order

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

capital 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

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

capital 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

ABHILASH TRADECOM PVT. LTD.,KOLKATA vs. ITO, WARD-3(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

capital 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

ORIENT INDUSTRIAL CORPORATION,KOLKATA vs. ACIT, CIRCLE - 35, 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

capital 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

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

capital 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

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

capital 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

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

capital 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