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. The gain has accordingly to be assessed as undisclosed credit u/s 68. In view of the above discussion, I find no infirmity in the orders of the Ld. AO, and I confirm the same, holding the claim of STCL of Rs.16,40,62,61/- to be bogus. Therefore this ground of appeal stands dismissed.” Page

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

capital gain. The gain has accordingly to be assessed as undisclosed credit u/s 68. In view of the above discussion, I find no infirmity in the orders of the Ld. AO, and I confirm the same, holding the claim of STCL of Rs.16,40,62,61/- to be bogus. Therefore this ground of appeal stands dismissed.” Page

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]

survey u/s. 133A of the Act conducted on the assessee. Statutory notices were duly issued and served upon the assessee. It is pertinent to state that the return of income filed by the assessee was processed u/s. 143(1) of the Act. During the assessment proceedings, the AO called upon the assessee to furnish various information/details qua the long term

SHRI KAMAL AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI DINESH AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI VIJAY AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI AMIT AGARWAL,KOLKATA vs. A.C.I.T.,CC-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI SHREY AGARWAL,KOLKATA vs. A.C.I.T.,CIRCLE-3(40, KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI MAHESH AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

SHRI KISHORE KUMAR AGARWAL,KOLKATA vs. A.C.I.T.,CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account of exempt income, short term capital loss, business loss

ASHIKA STOCK BROKING LIMITED, KOLKATA,KOLKATA vs. D.C.I.T., CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

133A of the Act was conducted on 19.05.2015 by 2 I.T.A. Nos.390, 399, 400 & 401/Kol/2022 Assessment Years: 2011-12 to2013-14 & 2015-16 Ashika Stock Broking Limited. DDIT(Inv), Unit-2(2), Kolkata at the office/business premises of the assessee and it was found during the course of survey that the assessee company has made transactionsin penny stocks on behalf

ASHIKA STOCK BROKING LIMITED,KOLKATA vs. DCIT, CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

133A of the Act was conducted on 19.05.2015 by 2 I.T.A. Nos.390, 399, 400 & 401/Kol/2022 Assessment Years: 2011-12 to2013-14 & 2015-16 Ashika Stock Broking Limited. DDIT(Inv), Unit-2(2), Kolkata at the office/business premises of the assessee and it was found during the course of survey that the assessee company has made transactionsin penny stocks on behalf

ASHIKA STOCK BROKING LIMITED,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

133A of the Act was conducted on 19.05.2015 by 2 I.T.A. Nos.390, 399, 400 & 401/Kol/2022 Assessment Years: 2011-12 to2013-14 & 2015-16 Ashika Stock Broking Limited. DDIT(Inv), Unit-2(2), Kolkata at the office/business premises of the assessee and it was found during the course of survey that the assessee company has made transactionsin penny stocks on behalf

ASHIKA STOCK BROKING LIMITED, KOLKATA,KOLKATA vs. DCIT, CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

133A of the Act was conducted on 19.05.2015 by 2 I.T.A. Nos.390, 399, 400 & 401/Kol/2022 Assessment Years: 2011-12 to2013-14 & 2015-16 Ashika Stock Broking Limited. DDIT(Inv), Unit-2(2), Kolkata at the office/business premises of the assessee and it was found during the course of survey that the assessee company has made transactionsin penny stocks on behalf

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A.R. STANCHEM (P) LTD., KOLKATA

In the result, appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2013-14

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

CHETAN KUMAR TEKRIWAL (HUF),HOWRAH vs. I.T.O., WARD - 46(3), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

u/s 133A of the Act was carried out on 18.06.2015 at the business premises of Chetan Kumar Tekriwal , Bhubaneswar, Odisha by the Directorate of Income Tax (Investigation), Bhubaneswar, Odisha and as per survey report received from the Director of Income Tax (Inv.) , Unit-1(1), Bhubaneswar dated 10.06.2016, Shri Chetan Kumar Tekriwal , the Karta of HUF has taken accommodation entry

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

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

133A was carried out at the premises of M/s. SHG&PH as well as M/s. Herbicure Healthcare Bio-Herbal Research Foundation (in short ‘HHBRF’) because Abhilasha Tradecom Pvt. Limited obtained the accommodation entry from this Institution and issue is involved in ITA No. 132/KOL/2021. In this survey, statement of the Secretary of M/s. SHG&PH was recorded. The Secretary