SRI DEO KUMAR SARAF,KOLKATA vs. ACIT, CIRCLE-49, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

271(1)(c) is separately initiated” in the very assessment order. In view of the decision of Hon’ble Supreme Court in the case of Mak Data P. Ltd., supra, we are of the considered view that there is no need for the AO to reduce in writing his satisfaction but merely reached to a satisfaction and initiate penalty proceedings

D.C.I.T CC - XX,KOLKATA., KOLKATA vs. M/S PAHARPUR COLLING TOWERS LTD., KOLKATA

In the result, the appeal of the Revenue, is dismissed

Bench: Shri N. V. Vasudevan, Jm & Dr. A. L. Saini, Am]

U/S 271(1)(c). In Quadricon Private Limited Vs. ITO (ITA No.2243/Mum/2010) briefly stated the facts of the case were that the assessee filed return declaring Nil income after claiming deduction u/s.80IA. The assessment was completed by determining total income at Rs.10,85,412 reducing the amount of deduction u/s.80-IA on the ground that the assessee claimed excessive 4 Paharpur

JAIN INFRA PROJECTS LTD.(SINCE TAKEN OVER BANGAL CONSTRUCTION CO.),KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

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

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

271(1)(c ) of the Act, any undisclosed income which is found or declared after the date of search initiated u/s 132 of the Act on or after 1.6.2007, the assessee will be liable for penalty on the said amount which is not already declared in the return filed u/s 139(1) of the Act. Hence the Learned CITA held

IDEAL UNEMPLOYED ENGINEERS CO-OPERATIVE SOCIETY LTD.,COOCHBIHAR vs. D.C.I.T., CIRCLE - 2, JALPAIGURI, JALPAIGURI

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2010-11

bogus purchases for Rs.18,61,658/- At the time of assessment, AO initiated the penalty proceedings u/s. 271(1)(c) for the concealment

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. SHRI SIDHANT GUPTA, NEW DELHI

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. KAMALESH AGARWAL, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. DILIP KUMAR MODI, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE - 2(3), KOLKATA , KOLKATA vs. SHRI MURARILAL AGARWAL, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. SHRI SANJAY DHINGRA, NEW DELHI

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchases and sales are correctly recorded and the disclosure was made just to cover the papers and documents which he may not be able to explain. The assessee bifurcated his own disclosure of Rs.3.50 lakhs in respect to two parts, i.e. Rs.70,00,000 for the assessment year 2008-09 and Rs.2.80 lakhs for the assessment year

M/S. OM STEEL INDIA,HOWRAH vs. ACIT/ITO, NFAC, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2011-12

u/s 271(1)(c) of the Act. Aggrieved, against the penalty order, the assessee preferred an appeal before the ld. CIT (A). 5. In the appellate proceedings, the ld. CIT (A) issued notices dated 01.12.2023, 11.12.2023 and 05.01.2024 to the assessee, which could not be complied with. The ld. CIT (A), vide ex-parte order, confirmed the imposition of penalty

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA vs. AMBEY MINING PVT. LTD.,, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA vs. M/S. CALCUTTA INDUSTRIAL SUPPLY CORP., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA vs. AKA LOGISTICS PVT. LTD.,, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S CHAND TIE-UP PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

M/S V.A.R.ALLOY & STEEL PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA, KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S PASUPATI COMMERCE PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S INDRADEV VYAPAAR PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S ASHARA VINIMAY PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would

DCIT,CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. M/S ALISSA NIRMANS PVT. LTD., KOLKATA

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

purchasing peace and assessment has been made based upon the aforesaid offerings, even if no assurance in writing is given by the searching party, it may be clearly inferred that such an inducement must have been given by the searching party. When only partial evidence or no evidence in support of concealment was detected during the search, why would