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.”

business of manufacturing of biscuits, cookies and other bakery products filed a nil return for the assessment year 2009-10 on September 30, 2009, claiming deduction under section 80-IC of the Income-tax Act, 1961. The Assessing Officer disallowed the deduction amounting. Penalty proceedings under section 271 (l)(c) were also initiated for filing inaccurate particulars of income

DCIT, C.C.XXVII, KOLKATA, KOLKATA vs. M/S. PRATAP PROPERTIES LTD., KOLKATA

Accordingly, the grounds raised by the revenue for all the assessment years are dismissed

Bench: Hon. Sri Mahavir Singh & Hon. Sri M.Balaganesh

penalty on account of Explanation 5 to Section 271(1)(c ) of the Act in respect of income offered after the search but in the return filed u/s 153C of the Act. Since identical issue is involved in all the appeals, they are taken up together and disposed off by this common order for the sake of convenience

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA vs. M/S. RASHMI CEMENT LTD., , KOLKATA

Appeal is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.1606/Kol/2017 ("नधा"रण वष" / Assessment Year: 2013-14) Dcit, Central Circle-2(2), Vs. Rashmi Cement Ltd. Kolkata 39, Shakespeare Sarani, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 4343 R (Appellant) .. (Respondent) Appellant By : Shri Radhey Shyam, Cit-Dr Respondent By : Shri A. K. Tulsiyan, Fca सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2019 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2013-14 Arises Against The Commissioner Of Income Tax(A)-20, Kolkata Dated 13.04.2017 Passed In Case No.1119/Cc2(2)/Cit(A)/15-16 Reversing Assessing Officer’S Action Imposing Penalty Of Rs.3,09,69,700/- In His Order Dated 30.09.2015 U/S 271Aab Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. We Notice At The Time Of Hearing That This Revenue’S Appeal Suffers From Four Days Delay In Filing. It Filed Condonation Petition 06.07.2017 Describing Reasons Thereof To Various Procedural Formalities At Departmental Level. Learned Counsel Representing Assessee Is Very Fair In Not Disputing The Said Solemn Averments. We Therefore Condone The Impugned Four Days Delay In Filing Of Revenue’S Instant Appeal As Neither Intentional Nor Deliberate.

business loss of Rs.72,76,45,862/- for AY 2013-14. In the order u/s 143(3) the AO admitted that the additional income of Rs.69,00,00,000/- formed part of the returned income which was loss of Rs.72,76,45,862/-. The assessment thereafter was completed on 31.03.2015 after making certain additions/disallowances on other counts. In the assessment

PUTUL JASH,BURDWAN vs. ACIT, CIR-1, BURDWAN, BURDWAN

In the result, the appeal filed by the assessee is allowed

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1164/Kol/2015 (िनधा"रणवष" / Assessment Year: 2006-07 Putul Jash Vs. Asssitant C.I.T, Cir – 1, Burdwan Vill. Chakundi, P.O. Nabastha, Aayakarbhawan, Kachari P.S. Memari, Burdwan – 713 407. Road, Court Compound, Burdwan – 713 101. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Afdpj3622D (Appellant) .. (Respondent) Appellant By :Shri S. K. Tulsiyan, Advocate Respondent By :Shri S. M. Das, Acit (Dr) सुनवाईकीतारीख/ Date Of Hearing : 08/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 31/08/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2006-07, Is Directed Against The Order Passed By The Ld. Cit(A), Asansol In Appeal No.202/Cit(A)/Asl/Cir-1/Bwn/13-14 Dated 17.10.2014, Which In Turn Arises Out Of A Penalty Order Passed By The Assessing Officer U/S 271(1)(C) Of The Income Tax Act, 1961 ( Herein After Referred To As The ‘Act’), Dated 30.04.2013. 2. The Said Appeal Filed By The Assessee In Ita No.1164/K/15 For A.Y.2006-07, Is Barred By Limitation By 267 Days. The Assessee Has Moved A Petition Requesting The Bench To Condone The Delay. We Heard The Party On This Preliminary Issue. The Counsel For The Assessee Has Submitted Before Us That Assessee Provided His

u/s. 271(1)(c) of the Act on such erroneous and illegal acts is liable to be quashed.” In addition to this, the ld. Counsel for the assessee has also relied on the following judgments: (i) Income Tax Appellate Tribunal “B” Bench, Ahmedabad in the case of M/s. Blessing Construction V/s. ITO, Ward – 3(2), Surat dated 05/06/2015 held

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA , KOLKATA vs. M/S/ RASHMI METALIKS LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

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

business loss of Rs.72,76,45,862/- for AY 2013-14. In the order u/s 143(3) the AO admitted that the additional income of Rs.69,00,00,000/- formed part of the returned income which was loss of Rs.72,76,45,862/-. The assessment thereafter was completed on 31.03.2015 after making certain additions/disallowances on other counts. In the assessment

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

u/s. 271(1)(c) 7. For that there was no element of concealment of income on the part of the appellant or furnishing of any inaccurate particulars of income and that the reasonings given by the appellant and the contentions raised ought to have been properly considered by the Ld. CIT and in that view of the matter the penalty

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

u/s. 271(1)(c) 7. For that there was no element of concealment of income on the part of the appellant or furnishing of any inaccurate particulars of income and that the reasonings given by the appellant and the contentions raised ought to have been properly considered by the Ld. CIT and in that view of the matter the penalty

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

u/s. 271(1)(c) 7. For that there was no element of concealment of income on the part of the appellant or furnishing of any inaccurate particulars of income and that the reasonings given by the appellant and the contentions raised ought to have been properly considered by the Ld. CIT and in that view of the matter the penalty

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

u/s. 271(1)(c) 7. For that there was no element of concealment of income on the part of the appellant or furnishing of any inaccurate particulars of income and that the reasonings given by the appellant and the contentions raised ought to have been properly considered by the Ld. CIT and in that view of the matter the penalty

SMT. RASHMI JALAN,KOLKATA vs. A.C.I.T.CENTRAL CIRCLE-1(1), KOLKATA

In the result, appeal of the assessee is allowed

business premises of Ramkrishna Forging Ltd. and others. A search and seizure operation u/s 132 of the Act was conducted at the residence of Smt. Rashmi Jalan, the assessee at Flat No. 6A, Belmont Apartment, 6th Floor, 18/2, Alipore Road, Kolkata – 700 027. Notice u/s 142(1) of the Act was issued to the assessee. In response, the assessee filed

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 :-

business advisory services. The company has been rendering services to both overseas and domestic clients since April 2000. PwC India owns only routine intangibles as it acts as a management consultant in exchange for a service fee. 1.2.2. PricewaterhouseCoopers Lanka (P) Ltd. PricewaterhouseCoopers Lanka (Pvt) Limited (PWC Lanka) is the Technology Advisory arm of PwC in Sri Lanka and employs

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

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

business activities.” The disclosed income of Rs.1,44,50,000/- was considered as undisclosed income in the order passed u/s. 143(3) for the specified year 2013-14. Accordingly, penalty notice u/s. 271AAB(1)(c) was imposed for Rs.43,35,000/- on 29.09.2016. The assessee preferred appeal against the order u/s. 271AAB(1)(c) before the CIT(A)- 20 Kolkata

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

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

business activities.” The disclosed income of Rs.1,44,50,000/- was considered as undisclosed income in the order passed u/s. 143(3) for the specified year 2013-14. Accordingly, penalty notice u/s. 271AAB(1)(c) was imposed for Rs.43,35,000/- on 29.09.2016. The assessee preferred appeal against the order u/s. 271AAB(1)(c) before the CIT(A)- 20 Kolkata

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

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

business activities.” The disclosed income of Rs.1,44,50,000/- was considered as undisclosed income in the order passed u/s. 143(3) for the specified year 2013-14. Accordingly, penalty notice u/s. 271AAB(1)(c) was imposed for Rs.43,35,000/- on 29.09.2016. The assessee preferred appeal against the order u/s. 271AAB(1)(c) before the CIT(A)- 20 Kolkata

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

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

business activities.” The disclosed income of Rs.1,44,50,000/- was considered as undisclosed income in the order passed u/s. 143(3) for the specified year 2013-14. Accordingly, penalty notice u/s. 271AAB(1)(c) was imposed for Rs.43,35,000/- on 29.09.2016. The assessee preferred appeal against the order u/s. 271AAB(1)(c) before the CIT(A)- 20 Kolkata

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

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

business activities.” The disclosed income of Rs.1,44,50,000/- was considered as undisclosed income in the order passed u/s. 143(3) for the specified year 2013-14. Accordingly, penalty notice u/s. 271AAB(1)(c) was imposed for Rs.43,35,000/- on 29.09.2016. The assessee preferred appeal against the order u/s. 271AAB(1)(c) before the CIT(A)- 20 Kolkata

CARBON FINANCE LTD.,KOLKATA vs. ITO, WD-8(2), KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

business of investment and trading in securities. The assessee has filed its return of income u/s. 139(1) of the Income-tax Act, 1961 (hereinafter referred to as the “Act”) on 30.10.2004 showing a loss of Rs.47,160/- under the normal provisions of the Act ( other than the provisions of section 115JB ) and book profit under the provisions of section

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]

u/s. 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

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 ]

penalty u/s 271(1)(c) of the Act was imposed on the assessee by AO are as follows :- The Assessee is an individual. He carries on the business of property development. The Assessee had filed returns of income