M/S. GATEWAY FINANCIAL SERVICES LTD., ,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

capital gain. ii) Ld. AO observed that SEBI vide Order dated 17.04.2015 and 19.12.2014 has restrained Blue Circle Services Ltd on the basis of manipulation charges from dealing in Security market in any form. iii) The appellant relies on the consolidated order dated 26.03.2021 of Delhi Bench of the Tribunal in the case of ITO, Ward-3(2), New Delhi

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

capital gain. ii) Ld. AO observed that SEBI vide Order dated 17.04.2015 and 19.12.2014 has restrained Blue Circle Services Ltd on the basis of manipulation charges from dealing in Security market in any form. iii) The appellant relies on the consolidated order dated 26.03.2021 of Delhi Bench of the Tribunal in the case of ITO, Ward-3(2), New Delhi

GAURAV VINIMAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

Gains by invoking the provisions of section 50D of the Act and assessed the total income of the assessee at ₹15,11,71,870/- u/s 143(3) of the Act. 3.1 Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who perused the assessment order, considered the submission of the assessee, the provisions

M/S PREMIER IRRIGATION ADRITEC (P) LTD.,KOLKATA vs. ACIT, CIR-11(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

220(2) of the Act for delayed payment of taxes was not allowable as deduction in computation of the total income. 10. In our view whenever interest is charged under the Act, whether for delayed payment of tax or filing under estimate of tax or for non- submission of the estimate or return or for default in filing return within

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. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

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. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

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. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

220/-. 2. On the facts and circumstances of the case & in law, the Ld. AO/TPO (in pursuance to the directions of Ld. DRP) grossly erred in making an adjustment of Rs. 2,64,43,540/- to the income of the Appellant on account of corporate guarantee fee and in doing so, the Ld. AO/TPO grossly erred in: 2.1. disregarding

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

220/-. 2. On the facts and circumstances of the case & in law, the Ld. AO/TPO (in pursuance to the directions of Ld. DRP) grossly erred in making an adjustment of Rs. 2,64,43,540/- to the income of the Appellant on account of corporate guarantee fee and in doing so, the Ld. AO/TPO grossly erred in: 2.1. disregarding

NARAYAN SUPPLIERS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 6(3), KOLKATA, KOLKATA

In the result, appeal of the assessee is dismissed

2 of the assessment\norder alleged, The main purpose is to create fabricated Long Term\nCapital Gain or Short Term Capital Loss or business loss with the\nhelp of pre-planned share rigging which has also been supported by\nthe Ld. CIT(A), NFAC although both of them have failed to correlate\nthe appellant's activities with the allegation

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

section 10(38) of the Income Tax Act. The ld. Assessing Officer disallowed this claim and held that Sulabh Engineers & Services Ltd. is a paper entity and its stocks were manipulated by 2 Assessment Year: 2015-2016 Brajesh Narnolia the experts for granting undue benefits to certain investors. The ld. Assessing Officer has discussed whole details from page

AMPI FINANCE LIMITED,KOLKATA vs. I.T.O., WARD-4(3), KOLKATA

Appeal of the assessee is allowed

Bench: the Bench that the re-opening of

220/-. Thereafter, the assessment was reopened after the AO received information from DDIT (Inv.) that the assessee company is beneficiary of bogus capital gains/loss on penny-stock and accordingly, the case was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2019. The assessee complied the said notice on 10.04.2019 declaring ‘Nil’ income. Thereafter

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

2,24,687/- under section 69C of the Act on account of commission paid for accommodation entry despite the assessee failing to establish the genuineness of the transactions and the identity and creditworthiness of the creditors? 4. Whether the Ld. CIT(A) has erred in facts and in law by restricting the disallowance of Rs. 18,67,227/- under section

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

2,24,687/- under section 69C of the Act on account of commission paid for accommodation entry despite the assessee failing to establish the genuineness of the transactions and the identity and creditworthiness of the creditors? 4. Whether the Ld. CIT(A) has erred in facts and in law by restricting the disallowance of Rs. 18,67,227/- under section

KUSUM TATER,MUMBAI vs. ITO - 47(2), KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

capital gains in respect of Unno Industries Ltd., which was treated as income from other charges at Rs. 63,20,942/- and another addition of Rs. 5,256/- was also made on account of undisclosed commission expenses treated as income from other sources and the total income was assessed at Rs. 66,45,220/-. Aggrieved with the assessment order

ITO, WARD-5(1), KOLKATA vs. M/S VISHNU DISTRIBUTORS PVT LTD, KOLKATA

In the result, the appeal of the Revenue is devoid of any merit, hence dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 50/Kol/2022 Assessment Year: 2012-2013

220 JobWork Ltd The issue of share capital is governed by the Companies Act - Where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered to any persons, if it is authorised by a special resolution, (whether or not those persons include the existing

SHREE CAPITAL SERVICES LIMITED,KOLKATA vs. ACIT, CIRCLE - 5(1), KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.641/Kol/2024 Assessment Year: 2018-19 Shree Capital Services Ltd..………..……………………....………....Appellant 21, Strand Road, Kolkata – 700001. [Pan: Aagcs5082D] Vs. Acit, Circle-5(1), Kolkata….................................................…..…..... Respondent Appearances By: Shri Saurav Garg, 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 20, 2024 Date Of Pronouncing The Order : July 23, 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 30.01.2024 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 Agitated Against The Confirmation Of Disallowance Of Rs.3,88,57,850/- Made By The Assessing Officer On Account Of Disallowance Of Expenditure Incurred For Earning Of Tax Exempt Income Invoking The Provisions Of Section 14A R.W.R 8D Of The Income Tax Rules. 3. The Assessing Officer Noted That The Assessee During The Year Had Earned Tax Exempt Income Of Rs.58,51,96,313/- Comprising Of Long- Term Capital Gains & Dividend Income. He Further Observed That The

section 14A r.w.r 8D of the Income Tax Rules. 3. The Assessing Officer noted that the assessee during the year had earned tax exempt income of Rs.58,51,96,313/- comprising of long- term capital gains and dividend income. He further observed that the I.T.A. No.641/Kol/2024 Assessment Year: 2018-19 Shree Capital Services Ltd. assessee had offered disallowance

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

capital receipt. We find that this issue was subject matter of adjudication in assessee’s own case for the Asst Year 2007-08 in ITA No. 686 & 581/Kol/2011 dated 8.12.2014 wherein it was held that the said interest subsidy would have to be treated as a capital receipt but with a direction to reduce the same from the cost