D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33 and 41

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33 and 41

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33 and 41

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

In the result, the appeal of the Revenue is allowed and the Cross Objection filed by the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

41,07,380/-. The case of the assessee was selected for scrutiny assessment and a notice under section 143(2) was issued on 04.09.2014, which was duly served upon the assessee. The ld. Assessing Officer thereafter issued a questionnaire by way of a notice under section 142(1). During the course of assessment proceeding, it revealed to the ld. Assessing

TARASAFE INTERNATIONAL PRIVATE LIMITED ,KOLKATA vs. D.C.I.T.,CIRCLE-15(2), 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

M/S COALSALE CO.,KOLKATA vs. A.C.I.T.,CIRCLE-34, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

PS MAGNUM,KOLKATA vs. A.C.I.T.,CIRCLE-29, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

REACHASIA,KOLKATA vs. A.C.I.T.,CIRCLE-29, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

M/S H.K.DUTTA & CO.,KOLKATA vs. A.C.I.T.,CIRCLE-37, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

REACHASIA,KOLKATA vs. ACIT, CIR.-29, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

ABHILASH TRADECOM PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

ABHILASH TRADECOM PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

HIRALAL BHANDARI, LEGAL HAIR OF LATE CHAMPALAL BHANDARI,KOLKATA vs. A.C.I.T.,CIRCLE-37, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

ORIENT INDUSTRIAL CORPORATION,KOLKATA vs. ACIT, CIRCLE - 35, 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

disallowance of Rs.87,50,000/- under normal provisions for computing book profit and thereby erred in calculating the book profit at Rs.4,17,01,736/- as against returned book profit of Rs.3,29,51,736/-. (c) The ld. Assessing Officer has erred in charging interest under section 234C of the Income Tax Act. 2.1. In rest of the grounds

SENBO ENGINEERING LIMITED,KOLKATA vs. A.C.I.T., CIRCLE-12(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 499/Kol/2022 Assessment Year: 2017-18 Senbo Engineering Limited Asst. Commissioner Of Income Vs Tax, Circle-12(2), Kolkata 87, Lenin Sarani Kolkata - 700013 [Pan : Aadcs6138B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sanjay Bhattacharya, Fca Revenue By : Shri Biswanath Das, Cit, D/R सुनवाई क" तार"ख/Date Of Hearing : 01/12/2023 घोषणा क" तार"ख /Date Of Pronouncement: 22/02/2023 आदेश/O R D E R Per Dr. Manish Borad: 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. 28/07/2022, Passed U/S 250 Of The Income Tax Act, 1961 (‘The Act’), For Assessment Year 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is A Limited Company. Income Of Rs.2,53,38,150/- Declared In The Return Filed On 07/11/2017 Pertaining To Assessment Year 2017-18. Case Selected For Scrutiny Through Cass Followed For Serving Of Notices U/S 143(2) & 142(1) Of The Act. During The Course Of Assessment Proceedings The First Issue Dealt By The Ld. Assessing Officer Was Regarding Cessation Of Liability U/S 41 Of The Act. The Ld. Assessing Officer Noted That In The 3Cd Report, The Auditor Has Mentioned About The Application Of Section U/S 41(1) Of The Act For The Unpaid Liability Of Rs.47,19,644/-. The Ld. Assessing Officer Also Examined The Other Outstanding Liabilities & Noticed That Regarding Outstanding Credit Of Rs.1,13,76,781/-, Pertaining To Ten Parties, Assessee Failed To Provide Any Detail About The Transactions Carried Out With These Parties I.E.

Section 41(1) of I.T.A. No. 499/Kol/2022 Assessment Year: 2017-18 Senbo Engineering Limited 7 the Act comes into play. We also note that various creditors which were standing in the balance sheet of the assessee have also been referred by its auditor to be audited u/s 41(1) of the Act and the assessee has accepted the same. Similarly