DCIT, CIRCLE-1, DURGAPUR, DURGAPUR vs. DEBEANJANA HARD COKE PRIVATE LIMITED, HETEDOBA

In the result, appeal filed by the Revenue is dismissed

Bench: the appellate proceedings or in the course of appellate proceedings.”

depreciation and addition of Rs. 45,956/- on account of disallowance u/s. 10 r.w.s. 36(1)(v) of the Act. At the outset, the appellant claims that the AO erred in initiating penalty proceedings u/s 271

M/S GENERAL POLYTEX PVT. LTD.,SURAT vs. ITO, WARD 1(1), KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 166/Kol/2022 Assessment Year: 2015-2016 M/S. General Polytex Pvt. Limited,...........Appellant 0/2171-72, Malviniwadi, Sonifalia, Bhagatalav, Gujarat-395003 [Pan: Aaccb5335L] -Vs.- Income Tax Officer,...............................Respondent Ward-1(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri M.K. Patwari, Fca, Appeared On Behalf Of The Assessee Shri Vijay Kumar, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : March 07, 2023 Date Of Pronouncing The Order : March 16, 2023 O R D E R

depreciation claimed of Rs.4.60.03,142/- is disallowed and added back to the total income of the assessee. I am also satisfied with the fact that this is a fit case for initiation of penalty proceeding u/s. 271

SREI EQUIPMENT FINANCE LIMITED,KOLKATA vs. PCIT-2, KOLKATA

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

Bench: Sri Sanjay Garg & Dr. Manish Borad

Penalty proceedings u/s 271(l)(c) of the Income Tax Act, 1961 is initiated separately. [Add: Rs. 46,75,71,359/-] ’ Hence, the learned PCIT failed to appreciate the facts of the case and erred in his understanding that the said provision for NPA relates to computation of income under normal provisions and that the assessee is not allowed

ITO, WARD-12(2), KOLKATA, KOLKATA vs. M/S DREAMZ LIFE CARE NURSING & DIAGNOSTIC CENTRE PVT. LTD., KOLKATA

In the result, the appeals filed by the Revenue in I

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Penalty proceedings u/s 271 (1)(c) of the IT Act is also initiated on this score for concealment of income by way of furnishing inaccurate particulars of its income. Commission: In this year the assessee has shown commission paid of Rs.600000/-. In course of hearing the assessee furnished name and address of the two persons Prasun Mukherjee & Soumya Ghosh

ITO, WARD - 3(2) , KOLKATA vs. M/S. DREAMZ MOVIES & ENTERTAINMENT PVT. LTD., , KOLKATA

In the result, the appeals filed by the Revenue in I

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Penalty proceedings u/s 271 (1)(c) of the IT Act is also initiated on this score for concealment of income by way of furnishing inaccurate particulars of its income. Commission: In this year the assessee has shown commission paid of Rs.600000/-. In course of hearing the assessee furnished name and address of the two persons Prasun Mukherjee & Soumya Ghosh

DCIT, CENTRAL CIRCLE 2(2), KOLKATA, KOLKATA vs. M/S. ULTRATECH NATHDWARA CEMENT LTD. (KNOWN AS M/S. BINANI CEMENT LTD.), KOLKATA

In the result, all the appeals of the Revenue as well as the assessee are dismissed as infructuous

Bench: Shri George Mathan & Shri Rakesh Mishra

penalty proceeding u/s 271(1) (c) of the Act. 6. The appellant craves leave of your Honour to add to, alter, amend and/or delete all or any of the foregoing grounds of appeal on or before the date of hearing.” III. ITA No. 611/KOL/2015; ; A.Y. 2010-11: (1) That on the facts and circumstances of the case

BINANI CEMENT LTD.,MUMBAI vs. D.C.I.T., CENTRAL CIRCLE-XXVIII, KOLKATA, KOLKATA

In the result, all the appeals of the Revenue as well as the assessee are dismissed as infructuous

Bench: Shri George Mathan & Shri Rakesh Mishra

penalty proceeding u/s 271(1) (c) of the Act. 6. The appellant craves leave of your Honour to add to, alter, amend and/or delete all or any of the foregoing grounds of appeal on or before the date of hearing.” III. ITA No. 611/KOL/2015; ; A.Y. 2010-11: (1) That on the facts and circumstances of the case

ACIT, CIR-14(1), KOLKATA, KOLKATA vs. M/S. ULTRATECH NATHDWARA CEMENT LTD.(KNOWN AS M/S BINANI CEMENT LTD.), KOLKATA

In the result, all the appeals of the Revenue as well as the assessee are dismissed as infructuous

Bench: Shri George Mathan & Shri Rakesh Mishra

penalty proceeding u/s 271(1) (c) of the Act. 6. The appellant craves leave of your Honour to add to, alter, amend and/or delete all or any of the foregoing grounds of appeal on or before the date of hearing.” III. ITA No. 611/KOL/2015; ; A.Y. 2010-11: (1) That on the facts and circumstances of the case

M/S. ULTRATECH NATHDWARA CEMENT LTD.(FORMERLY KNOWN AS M/S. BINANI CEMENT LTD.,),KOLKATA vs. DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA

In the result, all the appeals of the Revenue as well as the assessee are dismissed as infructuous

Bench: Shri George Mathan & Shri Rakesh Mishra

penalty proceeding u/s 271(1) (c) of the Act. 6. The appellant craves leave of your Honour to add to, alter, amend and/or delete all or any of the foregoing grounds of appeal on or before the date of hearing.” III. ITA No. 611/KOL/2015; ; A.Y. 2010-11: (1) That on the facts and circumstances of the case

TRIBHUVAN DEAL TRADE PVT. LTD.,KOLKATA vs. I.T.O.,WARD-9(1), KOLKATA

Bench: Sri Sanjay Garg & Dr. Manish Borad

penalty proceedings U/s 271(1) (c) have also been initiated separately for non compliance with the statutory notice and concealment of particulars of income respectively.” 11. Further, we notice that when the matter travelled before ld. CIT(A), the issue has been thoroughly examined. Ld. CIT(A) also minutely observed the financials of the share applicant companies and following observations

BATANAGAR EDUCATION AND RESEARCH TRUST ,KOLKATA vs. ITO, WARD-1(2), EXEMPT, KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

depreciation not allowed on the ground that total corpus fund amounting to Rs. 2,45,29,550/- which had been proved to be bogus donation and nothing but mere accommodation entries had been declared fully spent on building and other fixed assets. The income of the assessee has been computed and penalty notice u/s 271

DCIT, CIRCLE-35, KOLKATA, KOLKATA vs. M/S. INDIAN COAL AGENCY, KOLKATA

In the result, the appeal for AY 2013-14 is partly allowed

Bench: Sonjoy Sarma & Sri Rakesh Mishra

penalty proceedings u/s 271(1)(c) are initiated separately. [Addition: Rs. 1,75,00,000/-] 12. During the course of the appeal proceedings, the appellant/Ld A.R for the appellant has submitted as under: ‘Commission paid to Naresh P Ojha Rs. 105,00,000/- and Ms. Udita Koya Rs. 70,00,000/- It is hereby submitted that Ms. Udita Koya

INDIAN COAL AGENCY,KOLKATA vs. DCIT, CIRCLE-35, KOLKATA, KOLKATA

In the result, the appeal for AY 2013-14 is partly allowed

Bench: Sonjoy Sarma & Sri Rakesh Mishra

penalty proceedings u/s 271(1)(c) are initiated separately. [Addition: Rs. 1,75,00,000/-] 12. During the course of the appeal proceedings, the appellant/Ld A.R for the appellant has submitted as under: ‘Commission paid to Naresh P Ojha Rs. 105,00,000/- and Ms. Udita Koya Rs. 70,00,000/- It is hereby submitted that Ms. Udita Koya

INDIAN COAL AGENCY,KOLKATA vs. PRINCIPAL CIT, CIRCLE - 12, KOLKATA , KOLKATA

In the result, the appeal for AY 2013-14 is partly allowed

Bench: Sonjoy Sarma & Sri Rakesh Mishra

penalty proceedings u/s 271(1)(c) are initiated separately. [Addition: Rs. 1,75,00,000/-] 12. During the course of the appeal proceedings, the appellant/Ld A.R for the appellant has submitted as under: ‘Commission paid to Naresh P Ojha Rs. 105,00,000/- and Ms. Udita Koya Rs. 70,00,000/- It is hereby submitted that Ms. Udita Koya

RAGHUVIR RETAILERS PVT. LTD.,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2 Raghuvir Retailers Pvt. Ltd. Aaykar Bhavan P-7, Mandawa Shikhar, 151, Sarat Chowringhee Square, Kolkata- Bose Road, Kolkata-700026, Vs. 700069, West Bengal West Bengal (Respondent) (Appellant) Pan No. Aaecr8231M Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 19.12.2024 Date Of Pronouncement : 11.02.2024

penalty levied under section 271(1)(a) of the Act was not valid. Thus, ouranswers to all the three questions referred to this court are in the negative and in favour of the assessee. Raghuvir Retailers Pvt. Ltd.; A.Y. 2013-14 17. Anand And Co. (supra) cited by the Revenue, proceeds on the basis that the notice issued u/s.148

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Penalty proceeding u/s.271(1)(c) of the Income Tax Act, 1961 is initi- ated for furnishing inaccurate particulars of income. [Addition: 1,44,77,042/-] Tata Consumer Products Ltd. {erstwhile Tata Global Beverages Ltd.} AYs: 2014-15 & 2015-16 6.1 The Ld. TPO had proposed the adjustment at 200 bps after detailed analysis of the Transfer Pricing Study Report filed

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

Penalty proceeding u/s.271(1)(c) of the Income Tax Act, 1961 is initi- ated for furnishing inaccurate particulars of income. [Addition: 1,44,77,042/-] Tata Consumer Products Ltd. {erstwhile Tata Global Beverages Ltd.} AYs: 2014-15 & 2015-16 6.1 The Ld. TPO had proposed the adjustment at 200 bps after detailed analysis of the Transfer Pricing Study Report filed

YOGESH TRANSPORT PVT LTD,RAIPUR vs. INCOME TAX OFFICER, WD-1(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

penalty proceedings under Section\n271(1)(c) is justified due to the appellant's inability to substantiate the claimed\nexpenses. The appeal is dismissed in full.”\n06. After hearing the rival contentions and perusing the materials\navailable on record, we find that the assessee is a government\ncontractor for transporting of goods from the railway rack to the PDS\ncenters