SRI SIBENDU BASU,KOLKATA vs. DCIT,CIR.-54, KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Hon’Ble Shri P.M. Jagtap] I.T.A. No. 315/Kol/2017 Assessment Year : 2006-07 Shri Sibendu Basu.............................………………………………………….............Appellant 39A, Townshend Road, Ground Floor, Kolkata – 700 025 [Pan : Aecpb 9682 F] D.C.I.T. Cir-54 Kolkata...................……………………………………………….......Respondent 54/1, Rafi Ahmed Kidwai Road, Kolkata – 700 016 Appearances By: Shri Subash Agarwal, Advocate Appearing On Behalf Of The Assessee. Shri Satyajit Mondal, Addl. Cit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 31, 2017 Date Of Pronouncing The Order : December 22, 2017 Order This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Cit (Appeals) – 21, Kolkata Dated 03.01.2017. 2. The Issue Involved In Ground No 1 Relates To The Addition Of Rs. 5,34,700/- Made By The A.O. & Confirmed By The Ld. Cit(A) On Account Of Disallowance Of Fund Mobilisation Expenses. 3. The Assessee In The Present Case Is An Individual Who Derives Income From Legal Profession, Commission & Brokerage From Insurance & Mutual Funds Companies, Long Term & Short Term Capital Gains Etc. The Return Of Income For The Year Under Consideration Was Filed By Him 30.10.2006 Declaring A Total Income Of Rs. 2,66,160/-. In The Profit & Loss Account Filed Along With The Said

F] D.C.I.T. Cir-54 Kolkata...................……………………………………………….......Respondent 54/1, Rafi Ahmed Kidwai Road, Kolkata – 700 016 Appearances by: Shri Subash Agarwal, Advocate appearing on behalf of the Assessee. Shri Satyajit Mondal, Addl. CIT appearing on behalf of the Revenue. Date of concluding the hearing : October 31, 2017 Date of pronouncing the order : December 22, 2017 ORDER This appeal filed by the assessee