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)

153A proceedings. (ii). That on the facts and circumstances of the case, the Ld. CIT(A) while deleting addition of Rs. 1,92,00,000/- has erred to totally ignore that assessee failed to discharge its onus to establish identity, creditworthiness and genuineness of the transaction, in respect of unsecured loan received. (iii). That on the facts and circumstances

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

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been 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

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

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been 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

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

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been 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

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

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

In the result, the appeal of the Revenue is allowed and the Cross Objection filed by the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

153A, the search upon the donee took place before completion of assessment order in the case of assessee. The assessment order was completed on 27.03.2015 whereas search upon the donee was conducted somewhere in the month of January. Therefore, all the information regarding the alleged claim of deduction under section 35(1)(ii) was already in the knowledge

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of RS. 19,52,49,060/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted its response. The AO after calling

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of RS. 19,52,49,060/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted its response. The AO after calling

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of Rs. 23,50,13,240/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted its response. The AO after going

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of Rs. 23,50,13,240/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted its response. The AO after going

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(2), KOLKATA, AAYAKAR BHAWAN POORVA vs. JYOTI PATODIA, KOLKATA

In the result, appeal of the revenue is dismissed and the Cross Objection of the assessee is also dismissed being infructuous

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

1) of the Act on 30.09.2015 declaring total incomeat Rs.13,63,770/- after claiming deduction under ITA No. 1432/Kol/2024& CO No.27/Kol/2024 \Jyoti Patodya, AY 2015-16 Chapter VIA of Rs.1,65,000/-. Thereafter, search action was conducted on 11.02.2020 and subsequent dates against the Patodia Group. Since the assessee was related to the Patodia Group, notice u/s. 153A

AJAY TRADING COMPANY,KOLKATA vs. ACIT, CENTRAL CIR. 3(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

153A of the Act vide order dated 26.12.2016 accepting the returned income of Rs. 1,44,44,160/-. Thereafter the case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act dated 28.03.2019 after the AO received information from ITO(Inv), Unit-1, Kolkata on 8.3.2019. Pursuant to said information the assessment

AMBIKA TRADELINK PVT. LTD. ,KOLKATA vs. D.C.I.T, CIR- 4(2), KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri Rajesh Kumar

capital gain and accounted in books of account. Accordingly, given colour of genuine transaction. Thus, I am at the opinion that assessee has escaped assessment exceeding Rs. One Lakh.” 10. Reading this, nobody can make out or at least we are unable to make out any demonstrable link between the information and the formation of belief. This paragraph does

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(1), KOLKATA, KOLKATA vs. SHRIVARDHAN MOHTA, KOLKATA

In the result, the appeals filed by the assessee and Revenue in ITA Nos

Bench: Dr. Manish Borad & Sonjoy Sarmai.T.(S.S.)A. Nos.: 157 To 163/Kol/2023 Assessment Years: 2009-10 To 2015-16 Shri Vardhan Mohta………………………………………………………..Appellant [Pan: Aelpm 0089 A] Vs. Acit, Cen.Cir-1(1), Kolkata…………………………………………….Respondent

capital gain and income from other sources was subjected to search u/s 132 of the Act dated 17.03.2015 being part of the Mohta Group of Cases. Assessment 153A read with Section u/s 143(3) of the Act were framed for AY 2009-10 to AY 2015-16 and various additions were made. Aggrieved, the assessee preferred appeal before

DECPUTY COMMISSION OF INCOME TAX CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. CHIRAG JEWELLERS, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Dr. Manish Boradi.T.A. No. 1559/Kol/2024 Assessment Year: 2014-15 Dcit, Central Circle-3(1) Chirag Jewellers 110, Shantipally, Flat 17A, Rameshwara Mansion, 10/4A Vs Kolkata-700107 Elgin Road, Kolkata-700020 West Bengal [Pan : Aabfc7914L] अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent)

153A of the Act, the return was filed on 26th September, 2016, declaring total income of ₹2,81,78,830/-. The assessment proceedings were carried out after validly serving notices u/s 143(2) and 142(1) of the Act. During the course of assessment proceedings the ld. AO examined the unsecured loans from NCL research and financial services limited during

DCIT, CENTRAL CIRCLE 4(2), KOLKATA, AAYAKAR BHAWAN, POORVA vs. BALAJEE VINIMAY PRIVATE LIMTED, RAMNATH GOWENKA MARG, MUMBAI

In the result, appeal of the revenue is dismissed and the Cross Objection of the assessee is allowed

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

gain on sale of shares made u/s 68 of the Act in the impugned unabated AY was unjustified. 2. For that the appellant craves leave to submit additional cross objections and/or amend or alter the cross objections already taken either at the time of hearing of the appeal or before.” 4. The facts in brief are that the assessee filed

DCIT, CENTRAL CIRCLE-4(2), KOLKATA, AAYAKAR BHAWAN POORVA, KOLKATA vs. ALOM EXTRUSIONS LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.908/Kol/2023 Assessment Year: 2015-16 Dcit, C.C-4(2), Kolkata.................................................................……Appellant Vs. Alom Extrusions Ltd.........................…................…........……...…..…..Respondent 7B, Alom House, Pretoria Street, Kolkata-700071. [Pan: Aaaco3518N] Appearances By: Shri S. Dutta, Cit-Dr, Appeared On Behalf Of The Appellant. Shri A.K. Tibrewal, Fca & Amit Agrawal, Advocate, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 09, 2023 Date Of Pronouncing The Order : December 14, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Department Against The Order Dated 14.06.2023 Of The Commissioner Of Income Tax(Appeals)- 27, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue In This Appeal Has Taken The Following Grounds Of Appeal: “1. That In The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Deleting The Addition Made U/S 68 On Account Of Unsecured Loan Amounting To Rs.3,00,00,000/- As Unexplained Cash Credit Without Appreciating The Material Brought On Record & Facts Evaluated By The A.O In The Assessment Order.

153A of the Act. During the assessment proceedings, the Assessing Officer noticed that the assessee inter alia had received unsecured loans during the year of Rs.3,00,00,000/- from three creditors namely M/s. Leisure Devcon Private Limited, Progress Infra Estate Private Limited and Saffron Devcon Private Limited. The Assessing Officer asked the assessee to prove the identity and creditworthiness