DCIT, CIR-11(2), KOLKATA, KOLKATA vs. M/S P C CHANDRA (JEWELLERS) PVT. LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2011-12 Dct, Crcle-11(2), V/S. M/S P.C. Chandra P-7, Chowringhee (Jewellers), Pvt. Ltd., Square, Kolkta-69 49C, Gaiahat Road, Kolkata-19 [Pan No.Aabcp 8654 M] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Sallong Yaden, Addl. Cit-Sr-Dr अपीलाथ" क" ओर से/By Appellant Shri Ravi Tulsiyan, Fca ""यथ" क" ओर से/By Respondent 11-01-2018 सुनवाई क" तार"ख/Date Of Hearing 02-02-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-4, Kolkata Dated 06.07.2015. Assessment Was Framed By Dcit, Circle-11, Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 28.08.2013 For Assessment Year 2011-12. Revenue Has Raised Following Ground:- “1. That On The Facts & In The Circumstances Of The Assessee Ld. Cit Has Erred In Deleting The Penalty Of Rs.23,68,786/- Imposed U/S. 271(1)(C) Of The It Act. 1961. 2. That The Appellant Craves For Leave To Add, Delete Or Modify Any Of The Grounds Of Appeal Before Or All The Time Of Hearing.”

section 271 (1)(c) . ITA No.1197/Kol/2015 A.Y. 2011-12 DCIT, Cir-11(2), Kol. Vs. M/s PCC(Jewellers), Pvt. Ltd. Page 10 The assessee had claimed certain deductions which were disallowed

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

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

271(1)(c) of the Act in the impugned order. Initiation of penalty proceedings is not an order imposing penalty and therefore does not come under the ambit of Section 246A of the Act meaning thereby that it is premature at this juncture. Accordingly, this ground of appeal is dismissed. 5.1 With regard to the ground

DCIT, CENTRAL CIRCLE - 1(4), KOLKATA , KOLKATA vs. M/S. HINDUSTAN URBAN INFRASTRUCTURE LTD.(HINDUSTAN VIDYUT PRODUCT LTD.,), NEW DELHI

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

271(1)(c) of the Act in the impugned order. Initiation of penalty proceedings is not an order imposing penalty and therefore does not come under the ambit of Section 246A of the Act meaning thereby that it is premature at this juncture. Accordingly, this ground of appeal is dismissed. 5.1 With regard to the ground

ACIT, CIRCLE-2(3), KOLKATA, KOLKATA vs. LATE BAIJNATH AGARWAL, KOLKATA

In the result, appeal of revenue as well as the Cross Objection of assessee is dismissed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

1)(c) of the Act which action according to the Ld. AR cannot be done by the AO. The Ld. R drew our attention to section 271(1B) of the Act, which reads as under: “271(1B) Where any amount is added or disallowed

DCIT, C.C. I, KOLKATA, KOLKATA vs. AMARNATH SHROFF, KOLKATA

In the result ITA Nos.1797 to 1800/Kol/2009 are allowed while ITA Nos

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

section 271 of the Act. On this issue the only objection of the revenue is that the payment of taxes ought to have been made at the time of filing the return of income or in any event before conclusion of the assessment proceedings. The Hon’ble Supreme Court however in the case of ACIT vs M/s. Gebilal Kanhaialal

AMAR NATH SHROFF,KOLKATA vs. DY. COMMISSIONER OF INCOME TAX, KOLKATA

In the result ITA Nos.1797 to 1800/Kol/2009 are allowed while ITA Nos

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

section 271 of the Act. On this issue the only objection of the revenue is that the payment of taxes ought to have been made at the time of filing the return of income or in any event before conclusion of the assessment proceedings. The Hon’ble Supreme Court however in the case of ACIT vs M/s. Gebilal Kanhaialal

M/S. DHANSAR ENGINEERING (P) LTD.,DHANBAD vs. ACIT, C.C. - VII, KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed

Bench: : Shri P.M. Jagtap & Shri S.S.Viswanethra Ravi

section 271(1) ( c) is applicable is wrong since the said Explanation is applicable in respect of search initiated before 01.06.2007 but in this case search was initiated on 22.08.2007 i.e. after 01.08.2007. In respect of search initiated u/s. 132(1) on or after 01.08.2007, newly inserted Explanation 5A, inserted by Finance Act, 2007 w.e.f 01.06.2007 and as substituted

M/S PRICEWATERHOUSE COOPERS PVT. LTD.,KOLKATA vs. ACIT, CIRCLE-2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2011-12 M/S. Pricewaterhouse Coopers Private Limited……...............................……………………......Appellant Block-Ep, Plot –Y14 Salt Lake City Sector-V Kolkata – 700 091 [Pan : Aabcp 9181 H] Vs. Deputy Commissioner Of Income Tax (It), Circle-2(1), Kolkata……..........................…....Appellant Appearances By: Shri Kanchun Kaushal, A/R & Shri Bikash Kr. Jain, Ca, Appeared On Behalf Of The Assessee. Shri Vijay Shankar, Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 25Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

1 of that section. 2.1. On the facts and in law and in the circumstances of the case, the Ld. AO erred in cts and in law and in the circumstances of the case, the Ld. AO erred in cts and in law and in the circumstances of the case, the Ld. AO erred in making the disallowance of foreign

DCIT, CENTRAL CIRCLE - XI, KOLKATA, KOLKATA vs. SHRI HARISH KUMAR SARAWGI, KOLKATA

In the result, the appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am] I.T.A Nos. 1222 To 1226/Kol/2011 Assessment Years: 2003-04 To 2007-08

section 271(1)(c ) of the Act is defective in as much as the ld AO had not struck off the relevant portion in the show cause notice as to whether the assessee had concealed his income or furnished inaccurate particulars of income. Reliance was placed on the decision of the Hon’ble Karnataka High Court in the case

HARISH KUMAR SARAWGI,KOLKATA vs. DCIT, CENTRAL CIRCLE - XI, KOLKATA, KOLKATA

In the result, the appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am] I.T.A Nos. 1222 To 1226/Kol/2011 Assessment Years: 2003-04 To 2007-08

section 271(1)(c ) of the Act is defective in as much as the ld AO had not struck off the relevant portion in the show cause notice as to whether the assessee had concealed his income or furnished inaccurate particulars of income. Reliance was placed on the decision of the Hon’ble Karnataka High Court in the case

BASIL INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE - XXII, KOLKATA

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

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

section 271(1B) of the Act as well as the decision of the Hon’ble Delhi High Court in the case of Ms. Madhushree Gupta –vs.- Union of India reported lin 317 ITR 107 (Del.) and that of the Hon’ble Supreme Court in the case of MAK Data Pvt. Limited –vs.- CIT reported

PRITHI PAUL SINGH SETHI,KOLKATA vs. DCIT, CENTRAL CIRCLE - XXII, KOLKATA

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

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

section 271(1B) of the Act as well as the decision of the Hon’ble Delhi High Court in the case of Ms. Madhushree Gupta –vs.- Union of India reported lin 317 ITR 107 (Del.) and that of the Hon’ble Supreme Court in the case of MAK Data Pvt. Limited –vs.- CIT reported

BENI PRASAD LAHOTI,HOWRAH vs. DCIT, CC-2(2), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

disallowance of speculation loss of Rs.28,83,6322/- was deleted by the CIT(A). Asst. Year: 2012-13 Returned income under Rs. 1,68,765/- section 139 Returned income under Rs. 8,76,720/- section 153A Income disclosed under Rs. 7,50,000/- section 132(4) Addition under section Rs. 1,37,648/- 14A Assessed income Rs.10,14,368/- Penalty

BENI PRASAD LAHOTI,HOWRAH vs. DCIT, CC-2(2), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

disallowance of speculation loss of Rs.28,83,6322/- was deleted by the CIT(A). Asst. Year: 2012-13 Returned income under Rs. 1,68,765/- section 139 Returned income under Rs. 8,76,720/- section 153A Income disclosed under Rs. 7,50,000/- section 132(4) Addition under section Rs. 1,37,648/- 14A Assessed income Rs.10,14,368/- Penalty

DCIT, CC-4(2), KOLKATA, KOLKATA vs. NALINI BHASKARAN , KOLKATA

In the result the appeal is partly allowed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthi

section 271(1)(c) would indicate that penalty would be equivalent or to the extent of three times of taxes, if any, payable by an assessee of the addition made to his income could be charged under this sub-clause. In the present ITA Nos. 580 to 590/KOL/2023 Tharur Bhaskaran case, no addition has attained finality ultimately. Income

DCIT, CC-4(2), KOLKATA, KOLKATA vs. NALINI BHASKARAN , KOLKATA

In the result the appeal is partly allowed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthi

section 271(1)(c) would indicate that penalty would be equivalent or to the extent of three times of taxes, if any, payable by an assessee of the addition made to his income could be charged under this sub-clause. In the present ITA Nos. 580 to 590/KOL/2023 Tharur Bhaskaran case, no addition has attained finality ultimately. Income

DCIT, CC-4(2), KOLKATA, KOLKATA vs. NALINI BHASKARAN , KOLKATA

In the result the appeal is partly allowed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthi

section 271(1)(c) would indicate that penalty would be equivalent or to the extent of three times of taxes, if any, payable by an assessee of the addition made to his income could be charged under this sub-clause. In the present ITA Nos. 580 to 590/KOL/2023 Tharur Bhaskaran case, no addition has attained finality ultimately. Income

DCIT, CC-4(2), KOLKATA, KOLKATA vs. NALINI BHASKARAN , KOLKATA

In the result the appeal is partly allowed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthi

section 271(1)(c) would indicate that penalty would be equivalent or to the extent of three times of taxes, if any, payable by an assessee of the addition made to his income could be charged under this sub-clause. In the present ITA Nos. 580 to 590/KOL/2023 Tharur Bhaskaran case, no addition has attained finality ultimately. Income

DCIT,CC-4(2), KOLKATA, KOLKATA vs. THARUR BHASKARAN, KOLKATA

In the result the appeal is partly allowed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthi

section 271(1)(c) would indicate that penalty would be equivalent or to the extent of three times of taxes, if any, payable by an assessee of the addition made to his income could be charged under this sub-clause. In the present ITA Nos. 580 to 590/KOL/2023 Tharur Bhaskaran case, no addition has attained finality ultimately. Income