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

3 and 4 This ground is against the application of provisions of section 50C of the Act by the AO and the consequential enhancement of the deemed consideration for the sale transaction. The facts that have been brought on record are that the appellant had shown sale consideration of Rs 195 crore and offered, after Tata Consumer Products Ltd. {erstwhile

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

3 and 4 This ground is against the application of provisions of section 50C of the Act by the AO and the consequential enhancement of the deemed consideration for the sale transaction. The facts that have been brought on record are that the appellant had shown sale consideration of Rs 195 crore and offered, after Tata Consumer Products Ltd. {erstwhile

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

Section 14A of the Act r.w.r. 8D(2)(iii). 3. The facts qua the first issue raised by the assessee are that the assessee, during the year, has incurred loss of Rs.3,98,50,208/- which comprised of share trading loss amounting to Rs.2,87,07,277/- and Rs.1,11,42,931/- in respect of loss on trading

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

249 (SC) 2) PCIT vs. Indravadan Jain [2023] 156 taxmann.com 605 (Bombay) 3) PCIT vs. Dipansu Mahapatra [2023] 149 taxmann.com 99 (Orissa) 4) ITO Vs. Smt. Bimla Debvi Singhania ITA Nos. 212 & 213/CKT/2019 7 I.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. 9.1. The ld. A/R submitted that in all these judicial precedents, transactions were done

SRI SNEHASISH BHAUMIK,KOLKATA vs. PCIT-17, KOLKATA

In the result, the appeal of the assessee is allowed

249 of the Act, which provides power to the Id. Commissioner to condone the delay in filing of the appeal before the Commissioner. Similarly, it has been used in Section 5 of the Indian Limitation Act, 1963. Whenever interpretation and consideration of this expression has fallen for consideration before the Hon'ble High Courts as well as before

MITUL PRAVINCHANDRA MALANI, ,KOLKATA vs. ACIT, CIR. 33, KOLKATA

In the result, the appeal of the assessee is partly allowed while the penalty of ₹9,560/- imposed is hereby cancelled

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2014-15

gains earned during the financial year under consideration. Penalty proceedings were also initiated. 6. The assessee did not contest the addition. The assessee had furnished a reply before the Ld. AO that no appeal had been preferred against the disallowance of loss only to avoid litigation, which is time-consuming and because of the smallness of the case

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

SANJAY KUMAR SINGH,KOLKATA vs. ACIT, E-ASSESSMENT CENTRE, DELHI

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

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2020-21

3/- Rs.1,46,23,369 Pargnas, P.S. Purba Jadabpur Corporation: Kolkata Municipal Corporation, Road Nayabad premises No. 3712, Ward No. 109 6 Sanjay Kumar Singh, AY: 2020-21. 5. The assessee was also required to show cause as to why a sum of Rs.2,06,23,366/- being the difference between the valuation for the purpose of stamp duty

MICRO CAPITALS PVT. LTD. ,THANE vs. DCIT,C.C-4(3),KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Honble High Court as well as before the Honble Supreme Court, then

SATYANARAYAN HOLDINGS PVT. LTD.,KOLKATA vs. ITO, WARD-5(2), KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.444/Kol/2024 Assessment Year: 2012-13

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon’ble High Court as well as before the Hon’ble Supreme

SHRI VANILA VINIMAY PVT. LTD.,KOLKATA vs. ITO, WARD-1(3), KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 230/Kol/2022 Assessment Year: 2008-2009 Shri Vanila Vinimay Pvt. Limited,............Appellant C/O. S.L. Poddar & Company, E-3A, Kanti Chandra Road, Bani Park, Jaipur, Rajasthan-302016 [Pan: Aaccv4577A] -Vs.- Income Tax Officer,................................Respondent Ward-1(3), Kolkata Appearances By: N O N E, Appeared On Behalf Of The Assessee Shri Sudipta Guha, Cit, D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : February 07, 2023 Date Of Pronouncing The Order : February 10, 2023 O R D E R Per Rajpal Yadav, Vice-(Kz):- The Assessee Is In Appeal Before The Tribunal Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-19, Kolkata Dated 10.01.2018 Passed For Assessment Year 2008- 09. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 1516 Days. Before Adverting To The Application For Condonation Of Delay, We Deem It Appropriate To Make Reference Of Certain Facts. 1 Assessment Year: 2008-2009 Shri Vanila Vinimay Pvt. Limited

capital by issue of 2,50,770 no. of shares to twenty-seven applicants with face value Rs.10/- and premium of Rs.490/-. The ld. Assessing Officer has issued a notice on 02.12.2013 under section 142(1), but it remained un-complied with. He again issued notice on 16.12.2013. Nobody attended before the ld. Assessing Officer. The ld. Assessing Officer thereafter

BABA IRON INDUSTRIES PVT. LTD. ,KOLKATA vs. ITO,WARD-9(1), KOLKATA., KOLKATA

Bench: Sri Rajpal Yadav & Dr. Manish Borad

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before the Hon'ble Supreme

KANOI TEA PRIVATE LIMITED,KOLKATA vs. P.C.I.T. - 2, KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

249 of the Act, which provides power to the ld. Commissioner to condone the delay in filing of the appeal before the Commissioner. Similarly, it has been used in Section 5 of the Indian Limitation Act, 1963. Whenever interpretation and consideration of this expression has fallen for consideration before the Hon’ble High Courts as well as before

BIRENDRANATH SAMANTA,BURDWAN vs. ACIT, CIR-2, BURDWAN, BURDWAN

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 227/Kol/2023 Assessment Year: 2015-16 Birendra Nath Samanta Assistant Commissioner Of Anandapally, Sripally Vs Income Tax, Cirlce-2, Burdwan Burdwan - 713103 [Pan : Akaps8240C] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.K. Tulsiyan, Advocate & Ms. Puja Somani, C.A. Revenue By : Shri Vijay Kumar, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08/05/2023 घोषणा क" तारीख /Date Of Pronouncement: 06/06/2023 आदेश/O R D E R Per Dr. Manish Borad: This Is An Appeal Preferred By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi (Hereinafter Referred To As The Ld. Cit(A)”], Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’), Dated 12/05/2022 For The Assessment Year 2015-16. 2. The Registry Has Pointed Out That There Is A Delay Of 253 Days In Filing Of This Appeal. In The Condonation Application, The Assessee Stated That An Affidavit & An Application Has Been Filed Wherein It Has Been Submitted That The Impugned Order Was Passed On 12/05/2022 By The National Faceless Appeal Centre (Nfac), Delhi, Dismissing The Assessee’S Appeal Ex-Parte. The Said Appellate Order Was Sent Through E- Mail At Debudan1975@Gmail.Com, Which Belonged To Shri Debabrata Dan, A Resident Of Burdwan & Looking After The Income Tax Matters

249 of the Act, which provides power to the ld. Commissioner to condone the delay in filing of the appeal before the Commissioner. Similarly, it has been used in Section 5 of the Indian Limitation Act, 1963. Whenever interpretation and consideration of this expression has fallen for consideration before the Hon’ble High Courts as well as before

M/S. GOLDLINE DEALERS PVT. LTD., ,KOLKATA vs. ITO, WARD - 9(2), KOLKATA, KOLKATA

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

Bench: Sri Rajpal Yadav & Sri Rajesh Kumar

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before the Hon'ble Supreme

COMMERCIAL HOUSE PVT. LTD.,,KOLKATA vs. ITO, WARD - 6(1), KOLKATA

The appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rakesh Mishra

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon’ble High Court as well as before the Hon’ble Supreme

GAJGAMINI TREXIM PVT. LTD., ,KOLKATA vs. ITO, WARD - 9(2), , KOLKATA

In the result, the appeal of the assessee is dismissed

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

capital money. Hence ld. Assessing Officer has made an addition of Rs.39,01,00,000/-. 2 Assessment Year : 2012-2013 Gajgamini Trexim Pvt. Limited 5. Dissatisfied with the addition, assessee went in appeal before the ld. CIT(Appeals). The assessee did not submit anything before the ld. CIT(Appeals). The ld. 1st Appellate Authority has noticed that ten applicants have

DEEPAK SWITCH GEARS PVT. LTD. ,KOLKATA vs. PCIT, ASANSOL, ASANSOL

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2Nd Floor, 155, Jessore Road, Kolkata-700055. [Pan: Aabcd1131H] Vs. Pcit, Asansol….....….........................................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 08, 2024 Date Of Pronouncing The Order : May 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 30.12.2022 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 158 Days. A Separate Application Of Condonation Of Delay Has Been Filed, Wherein, It Has Been Pleaded That After Receipt Of The Impugned Order Of The Pr. Cit, The Assessee, Through Its Director, Shri Deep Kishan Saraf, Immediately Approached One Shri Pawan Kumar Agarwal, Chartered

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before the Hon'ble Supreme