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

234/- through their seller-broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

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

234/- through their seller-broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed

gain shall be dealt with in\naccordance with the following provisions of this section, that is to say,-\"\n18. Section 54F(1) thus states that the assessee being an\nindividual or Hindu Undivided Family, who had earned capital\ngains from transfer of any long-term capital not being a residential\nhouse could claim benefit under the said Section provided

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Capital Gain (LTCG") on sale of both land and build- ing without appreciating that the building formed part of block of assets and hence as per provisions of Section 43(6) only 'moneys payable" in respect of such building was required to be reduced from the relevant block of assets. 6.1 On the facts and circumstances of the case

NAMOKAR BUILDERS PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE -2(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Rajesh Kumar, Am]

234/- through their seller- broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

GILT COMMODITIES PVT. LTD.,KOLKATA vs. I.T.O.,WARD-3(1), KOLKATA

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

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

234/- through their sellerbroker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

SAMRAT FINVESTORS PRIVATE LIMITED. ,KOLKATA vs. ITO, WARD- 10(2),KOLKATA. , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Income Tax Officer, Ward – 10(2), 20/1, Maharshi Debendra Vs Kolkata 2Nd Floor, Room No. 13A Kolkata - 700007 [Pan : Aadcs4698G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 14/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 27/06/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee In The Instant Appeal Has Raised Two Effective Issues In The Various Grounds Before Us Which Are Summed Up As Under:- (I) That The Ld. Cit(A) Has Erred On Facts & In Law In Confirming The Disallowance Of Rs.3,98,50,208/- As Made By The Assessing Officer On Account Alleged Bogus Loss In Share Trading & In F&O Segment. (Ii) The Ld. Cit(A) Has Erred On Facts & In Law In Upholding The Addition Of Rs.11,58,944/- As Made By The Assessing

234/- through their seller-broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

NALANDA BUILDERS PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA

In the result the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. Dcit, Central Circle-2(1), Kolkata 5, Sree Charan Sarani Vs Bally Howrah – 711201 (West Bengal) [Pan : Aabcn7736Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 30/11/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 23/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2013-14. 2. The Issues Raised In Ground Nos. 2 To 4 Is Against The Confirmation Of Addition As Made By The Assessing Officer On Account Of Difference Between The Value Taken By The Assessee & The Fair Market Value (Fmv) U/S 50C Of The Act. 3. The Facts In Brief Are That During The Year, The Assessee Sold Two Flats For An Aggregate Consideration Of Rs.3,00,00,000/- & Accordingly Addition Of Rs.3,26,37,314/- Was Made To The Income Of The Assessee. In 2

234/- through their seller-broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

234/- through their seller broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilized by the Assessing Officer in treating their Long-Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

234/- through their seller broker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilized by the Assessing Officer in treating their Long-Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

ZULA MERCHANDISC PVT. LTD.,KOLKATA vs. ITO, WARD-5(1), KOLKATA

In the result, appeal of the assessee is allowed

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

234/- through their sellerbroker M/s. Gateway Financial Services Pvt. Ltd resulting in facilitation of pre-arranged accommodation entry of LTCG to them. This evidence was utilised by the Assessing Officer in treating their Long Term Capital Gains from transaction in shares of Radford Global Ltd as bogus and making addition u/s 68 of the Act. 22. Regarding the report

HIRAK SARKAR,HOOGHLY vs. ACIT, CIR. 23(1), HOOGHLY

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

Bench: The Ld Cit(Appeals) As His Mother Was Not Well Because Of Prolonged Disease Was Going Under Medical Supervision And

capital gains made by the Ld Assessing Officer is incorrect and the same be made as per law. 6. For that in the facts and circumstance of the case Ld. Commissioner of Income Tax Appeals erred in upholding and confirming the addition of Rs.43,61,031 as addition u/s 56(2)(vii)(b)(ii) of the Income

MANISH COMPANY PVT. LTD.,KOLKATA vs. I.T.O., WARD-9(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2017-18

234/-. Case of the assessee was selected for complete scrutiny which,inter alia, included the point relating to expenses incurred for earning exempt income. Ld. AO completed the assessment by making a disallowance of ₹5,49,842/- under section 14A of the Act while computing the total income by alleging that assessee has claimed long-term capital gains

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

section 271(1)(c) of the Act on the ground of furnishing inaccurate particulars of income.” 2.2. Ld. Counsel for the assessee challenges the impugned order thereby submitting that the appellant was employed with the IBM India Pvt. Ltd. during the AY 2016-17 and he was sent on an assignment to United Kingdom. Ld. Counsel for the assessee further

AJIT KUMAR PATNI,KOLKATA vs. IT0, WD-28(1),KOLKATA, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

section 234 B of Rs. 4,07,238/ and Rs. 6821/- u/s 234C and initiating penalty proceeding u/s 271(1)(C). 4. For that in view and circumstances of the case the ld. CIT(Appeal) NFAC has erred on facts and in law in confirming the addition of Rs. 7032/- towards commission notionally which was not incurred by the appellant

AJIT KUMAR PATNI,KOLKATA vs. ITO,WARD-28(1),KOLKATA, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

section 234 B of Rs. 4,07,238/ and Rs. 6821/- u/s 234C and initiating penalty proceeding u/s 271(1)(C). 4. For that in view and circumstances of the case the ld. CIT(Appeal) NFAC has erred on facts and in law in confirming the addition of Rs. 7032/- towards commission notionally which was not incurred by the appellant

RAJESH KUMAR DAMANI,KOLKATA vs. I.T.O.,WARD-50(4), KOLKATA

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

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

capital gains from the sale of listed shares to be exempted income. The exemption should be allowed as per law. 6. For that in the facts and circumstance of this case the material based on which the Ld. Assessment Officer passed the assessment order are collected behind the back of the assessee and which were not provided during the course