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

unexplained cash credit towards bogus long term capital gain and undisclosed brokerage expenses. 8. Aggrieved, all the four assessees preferred appeal before ld. CIT(A) against the action of ld. AO but failed to succeed as ld. CIT(A)s have given almost identical finding in the instant appeals confirming the action of ld. AOs holding that bogus loss

PINKY AGARWAL ,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

unexplained cash credit towards bogus long term capital gain and undisclosed brokerage expenses. 8. Aggrieved, all the four assessees preferred appeal before ld. CIT(A) against the action of ld. AO but failed to succeed as ld. CIT(A)s have given almost identical finding in the instant appeals confirming the action of ld. AOs holding that bogus loss

PURUSHOTTAM DAS AGARWAL ,KOLKATA vs. ITO, WARD - 35(1) , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

unexplained cash receipts'. 5.M.K. Rajeshwari vs. ITO (2018) 99 TAXMANN.COM 339 (Bang) Where assessee claimed exemption under section 10(38) in respect of capital gain arising from sale of shares, in view of fact that financial worth of said company was meagre and, moreover, there was abnormal rise in price of shares, it could be concluded that assessee introduced

SOUMITRA CHOUDHURY ,KOLKATA vs. ACIT, CIRCLE - 22 , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

unexplained cash receipts'. 5.M.K. Rajeshwari vs. ITO (2018) 99 TAXMANN.COM 339 (Bang) Where assessee claimed exemption under section 10(38) in respect of capital gain arising from sale of shares, in view of fact that financial worth of said company was meagre and, moreover, there was abnormal rise in price of shares, it could be concluded that assessee introduced

M/S GANESHMULL BIJAY SINGH BAID (HUF),KOLKATA vs. D.C.I.T CC - XXVII,KOLKATA, KOLKATA

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

Bench: : Shri M. Balaganesh

money to Shri. Narendra Shyamsukha to arrange for bogus long term capital gains in shares of various companies and accordingly the sums so received by way of long term capital gains could be treated as unexplained

PREMLATA BAID,KOLKATA vs. D.C.I.T CC - XXVII,KOLKATA, KOLKATA

In the result, the appeals of the respective assessees are allowed

Bench: : Shri M. Balaganesh

money to one Shri Narendra Kumar Shyamsukha to arrange for bogus long term capital gains in shares of M/s Continental Fiscal Management Limited and one of M/s Swastik Securities &Finance Ltd , simply on the basis of certain papers found during a search in the premises of th said Shri Narendra Kumar Shyamsukha, inspite of the complete denial by the assessee

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

money in\nconstruction is also not correct.\nVenkata Dilip Kumar vs. CIT, 111 taxman.com 180 (Mad HC) {following the\ndecision of CIT vs. Ramchandra Rao 56 taxman.com 163 (Karnataka HC).\n\"14. In my considered view, the contention of the Revenue to deny the benefit\nof deduction to the petitioner/assessee cannot be justified for the following\nreasons: Section

DCIT, CC-4(1), KOLKATA, KOLKATA vs. M/S SINGHAL ENTERPRISES, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Hon’Ble Shri N.V. Vasudevan, Jm & Shri M.Balaganesh, Am ] I.T.A No. 234/Kol/2015 Assessment Year : 2009-10 Dcit, Cc-4(1), Kolkata -Vs- M/S Singhal Enterprises, Kolkata [Pan: Aaufs0486N] (Respondent) (Appellant) For The Appellant : Shri Sallong Yadav, Addl. Cit Dr For The Respondent : Shri Subhash Agarwal, Advocate Date Of Hearing : 01.08.2017 Date Of Pronouncement : 04.08.2017 Order

capital gain income, the order u/s 143(3) was set aside by the CIT, Central-II, Kolkata by invoking the provision of Section 263 of the Act vide order dated 27.02.2013. On perusal of the remand report submitted by the AO, it is observed that the revenue audit was of the view that the assessee firm held draft-in-hand

SMT. SUSHILA DEVI KAJARIA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

Capital Gains in order to convert her black money into white and by applying the principle of human probabilities added the share sale receipts as other source income of the assessee from unexplained

NAVIN KUMAR KAJARIA,KOLKATA vs. ACIT, CIRCLE - 35, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

Capital Gains in order to convert her black money into white and by applying the principle of human probabilities added the share sale receipts as other source income of the assessee from unexplained

ITO, WARD - 4(1), KOLKATA, KOLKATA vs. M/S. TRIBUTE TRADING AND FINANCE LTD.,, KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

capital gain. " In this regard I may gainfully refer to the decision of Hon 'ble jurisdictional High Court in the case of Major Metals Ltd. vs Union of India and others in w.P. No.397 of 2011 vide order dated 22.02.2012 where it was held that a company cannot command disproportionate and huge share premium and such receipt of bogus share

SRI SUBRATA BANERJEE ,KOLKATA vs. ACIT, CIRCLE - 51(1) , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

capital gain. " In this regard I may gainfully refer to the decision of Hon 'ble jurisdictional High Court in the case of Major Metals Ltd. vs Union of India and others in w.P. No.397 of 2011 vide order dated 22.02.2012 where it was held that a company cannot command disproportionate and huge share premium and such receipt of bogus share

ITO, WARD - 4(1), KOLKATA, KOLKATA vs. M/S. TRIBUTE TRADING AND FINANCE LTD.,, KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

capital gain. " In this regard I may gainfully refer to the decision of Hon 'ble jurisdictional High Court in the case of Major Metals Ltd. vs Union of India and others in w.P. No.397 of 2011 vide order dated 22.02.2012 where it was held that a company cannot command disproportionate and huge share premium and such receipt of bogus share

SUSHILA DEVI MUNDHRA ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

capital gain at Rs.42,90,868/- as unexplained cash credit being an unaccounted money converted by the assessee into LTCG

SUMIT BAJAJ ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

capital gain at Rs.42,90,868/- as unexplained cash credit being an unaccounted money converted by the assessee into LTCG

ARUN ROY ,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

capital gain at Rs.42,90,868/- as unexplained cash credit being an unaccounted money converted by the assessee into LTCG

ANIL KUMAR AGARWALA,SILIGURI vs. I.T.O.,WARD-1(1), SILIGURI

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

capital gain at Rs.42,90,868/- as unexplained cash credit being an unaccounted money converted by the assessee into LTCG

SHRUTI MUNDHRA ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

capital gain at Rs.42,90,868/- as unexplained cash credit being an unaccounted money converted by the assessee into LTCG