JYOTI RANJAN ROY,KOLKATA vs. PCIT-17, KOLKATA, KOLKATA

In the result, appeal filed by assessee stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2006-07 Jyoti Ranjan Roy V/S. Pr. Cit-17, Bd-2, Sectdor-1, Salt Uttarapan Building, Ds4, 2Nd Floor, Lake Ciity,Kolkata-64 [Pan No.Adlpr 2179 P] Ultadanga, Kolkata-54 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri T.K. Chakrborty, Advocate अपीलाथ" क" ओर से/By Appellant Shri . Mallikarjuna, Cit-Dr ""यथ" क" ओर से/By Respondent 06-09-2017 सुनवाई क" तार"ख/Date Of Hearing 10-11-2017 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Is An Appeal By The Assessee Against The Order Of Commissioner Of Income Tax-17-Kolkata Passed U/S 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 21.03.2017 For Assessment Year 2006-07. Shri T.K. Chakraborty, Ld. Advocate Appeared On Behalf Of Assessee & Shri G.Mallikarjuna, Ld. Departmental Representative Appeared On Behalf Of Revenue. 2. Ground No. 1 To 4 Are Inter-Related & Therefore Being Taken Up Together. Solitary Inter-Connected Issue Raised By Assessee In This Appeal Is That Ld. Pr.Cit Erred In Holding The Assessment Order As Erroneous In So Far As Prejudicial To The Interest Of Revenue. 3. Briefly Stated Facts As Culled Out From The Order Of Authorities Below Are That Assessee In The Present Case Is An Individual & Engaged In The

271(l)(c) is initiated, there is no question of not initiating penalty u/s.271(1)(c) on that addition again made in subsequent revised order, specially when that addition is confirmed in appellate proceeding. Therefore, non-initiation of penalty proceeding u/s.271(1)(c) on same addition in the revised order is nothing but an error committed

ZYDUS HEALTHCARE LTD,GANGTOK vs. ACIT, CIR. 3(2), GANGTOK

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 139/Kol/2021 Assessment Year: 2014-2015 Zydus Healhcare Limited,……..................Appellant (Successor To Zydus Healthcare Sikkim), 4Th Floor, ‘D’ Wing, Zudus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Nr. Vaishnodevi Circle, Ahmedabad, Gandhinagar, Gujrat-382481 [Pan: Aaacg1895Q] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-3(2), Gangtok, Sikkim-737101 Appearances By: Shri Ajit Kumar Jain, Ca & Sonal Pandey, A.R., Appeared On Behalf Of The Assessee Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : January 18, 2023 Date Of Pronouncing The Order : February 20, 2023 O R D E R

u/s 271(1)(c) of the I.T. Act, 1961 is initiated separately for furnishing inaccurate particulars of income. (R. Kiruthiga) DCIT, Circle-3(2), Gangtok”. 8. The ld. Assessing Officer has determined the taxable income assessable in the hands of the assessee. Thereafter he prepared a detailed computation of income available on pages no. 53 to 55 of the record

SHRI KEDAR NATH DHOOT,KOLKATA vs. DCIT, C.C.-XXVII, KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am]

271 are mentioned would not satisfy requirement of law. r) The assessee should know the grounds which he has to meet specifically. Otherwise, principles of natural justice is offended. On the basis of such proceedings, no penalty could be imposed to the assessee. s) Taking up of penalty proceedings on one limb and finding the assessee guilty of another limb

M/S SWARN GANGA GOLD TRADERS PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A Nos. 1722 To 1724/Kol/2016 Assessment Years : 2006-07 To 2008-09

113/-, in A.Y.2007-08 a sum of Rs.2,04,798/- in A.Y.2008-09. In respect of the addition made as above the AO initiated penalty proceedings u/s 271(1)(c) of the Act. 4. Apart from the above another addition of Rs.2,02,000/- was made in A.Y.2007- 08 on account of unexplained cash deposits in the bank account. In A.Y.2008-09

M/S SWARN GANGA GOLD TRADERS PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A Nos. 1722 To 1724/Kol/2016 Assessment Years : 2006-07 To 2008-09

113/-, in A.Y.2007-08 a sum of Rs.2,04,798/- in A.Y.2008-09. In respect of the addition made as above the AO initiated penalty proceedings u/s 271(1)(c) of the Act. 4. Apart from the above another addition of Rs.2,02,000/- was made in A.Y.2007- 08 on account of unexplained cash deposits in the bank account. In A.Y.2008-09

M/S SWARN GANGA GOLD TRADERS PVT. LTD.,KOLKATA vs. ITO, WARD-3(2), KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A Nos. 1722 To 1724/Kol/2016 Assessment Years : 2006-07 To 2008-09

113/-, in A.Y.2007-08 a sum of Rs.2,04,798/- in A.Y.2008-09. In respect of the addition made as above the AO initiated penalty proceedings u/s 271(1)(c) of the Act. 4. Apart from the above another addition of Rs.2,02,000/- was made in A.Y.2007- 08 on account of unexplained cash deposits in the bank account. In A.Y.2008-09

BALAKA VINIMAY PVT. LTD.,KOLKATA vs. ITO, WARD-2(1), KOLKATA

In the result, appeals of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

penalty u/s 271(1)(c) of the Act depends on the outcome of the appeal on quantum addition in ITA No. 161/Kol/2024, we first taken up ITA No. 161/Kol/2024 for adjudication. 3. Facts in brief are that the assessee is a private limited company engaged in business and declared income of Rs.318/- in the original return of income furnished

BALAKA VINIMAY PVT. LTD.,KOLKATA vs. ITO, WARD-2(1), KOLKATA

In the result, appeals of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

penalty u/s 271(1)(c) of the Act depends on the outcome of the appeal on quantum addition in ITA No. 161/Kol/2024, we first taken up ITA No. 161/Kol/2024 for adjudication. 3. Facts in brief are that the assessee is a private limited company engaged in business and declared income of Rs.318/- in the original return of income furnished

M/S FLICKER TRADING LIMITED,KOLKATA vs. D.C.I.T,CIR- 8,KOLKATA., KOLKATA

In the result, appeal of assessee is allowed

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 271(1)(c) of the Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. The Tribunal, while allowing the appeal of the assessee, has relied on the decision of the Division Bench of this Court rendered in the case of CIT Vs. Manjunatha Cotton & Ginning Factory

KRISHNA KUMAR KEDIA ,KOLKATA vs. ITO, WARD 30(1), , KOLKATA

Appeal of the assessee is dismissed

113 Park Street, Kol-16 by post but all of them were returned unserved. The order u/s 144/143(3), dt 26.03.2014 and demand notice and notice u/s 271(1) (c) were served through postal department but again all the matters were returned unserved by post with comment "LEFT" on 07.04.2014. At last the orders and notices were served by affixation

SILKINA COMMODEAL PVT. LTD.,KOLKATA vs. ITO, WARD 3(3), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

113 taxmann.com 520 (Kolkata - Trib.), it laws held that: "The phraseology of section 68 is clear. The Legislature has laid down that in the absence of a satisfactory explanation, the unexplained cash credit may be charged to income-tax as the income of the assessee of that previous year. In this case the legislative mandate is not in terms

SILKINA COMMODEAL PVT. LTD.,KOLKATA vs. ITO, WARD-3(3), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

113 taxmann.com 520 (Kolkata - Trib.), it laws held that: "The phraseology of section 68 is clear. The Legislature has laid down that in the absence of a satisfactory explanation, the unexplained cash credit may be charged to income-tax as the income of the assessee of that previous year. In this case the legislative mandate is not in terms

SILKINA COMMODEAL PVT. LTD.,KOLKATA vs. ITO, WARD-3(3), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

113 taxmann.com 520 (Kolkata - Trib.), it laws held that: "The phraseology of section 68 is clear. The Legislature has laid down that in the absence of a satisfactory explanation, the unexplained cash credit may be charged to income-tax as the income of the assessee of that previous year. In this case the legislative mandate is not in terms

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

penalty under section 271(1)(c) of the Act mechanically and without recording any satisfaction for its initiation. The above grounds are without prejudice to each other. The Appellant craves leave to alter, amend or withdraw all or any of the grounds herein or add any further grounds as may be considered necessary either before or during the hearing.” Additional

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

penalty under section 271(1)(c) of the Act mechanically and without recording any satisfaction for its initiation. The above grounds are without prejudice to each other. The Appellant craves leave to alter, amend or withdraw all or any of the grounds herein or add any further grounds as may be considered necessary either before or during the hearing.” Additional

M/S. PHILIPS INDIA LIMITED,KOLKATA vs. ACIT, CIRCLE - 12(2), , KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.2308/Kol/2019 Assessment Year: 2004-05 M/S Philips India Limited.….............……….........…..........….…… Appellant 3Rd Floor, Tower A, Dlf Park, 08 Block Af, Major Arterial Road, New Town (Rajarhat), Kolkata-700156. [Pan: Aabcp9487A] Vs. Acit, Circle-12(2), Kolkata.......….....……........…...…...…..…..... Respondent Appearances By: Shri Ketan K Ved, Ca, Appeared On Behalf Of The Appellant. Shri Amal Kamat, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 17, 2022 Date Of Pronouncing The Order : February 06, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 31.07.2019 Of The Assessing Officer (In Short The ‘A.O’) Passed U/S 92Ca(3) & 144C Read With Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) In Pursuance Of The Directions Of The Dispute Resolution Panel (Drp) Dated 14.05.2019. 2. At The Outset, The Ld. Counsel For The Assessee Has Submitted That The Impugned Assessment Order Framed By The Assessing Officer Is Null & Void Being Framed Without Passing Of Draft Assessment Order. That The Assessing Officer Without Passing Of Draft Assessment Order & Without Giving Opportunity To The Assessee To File Objections Against The Said Draft Assessment Order As Per Provisions To Section 144C Of The

u/s 92CA(4) of the Act and, therefore, we find ourselves unable to deal with the invalid draft assessment order. 3.8 In view of our decision at Para 3.7 above, there is no need of DRP directions on Ground of objections between No. 2 to 5.” 3. A perusal of the above DRP order would reveal that DRP has categorically

GUNJA SAMABAY KRISHI UNNAYAN SAMITY LTD,PURULIA vs. PCIT,, ASANSOL

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Girish Agrawalassessment Year: 2016-17 Gunja Samabay Krishi Pcit, Asansol Unnayan Samity Ltd. Vill. Gunja, Golbera, P.S. Vs. Joypur, Dist. Purulia, Pin. 723103 Pan: Aabag 2110 M (Appellant) (Respondent)

Penalty proceeding u/s 271(1)(c) of the Income Tax Act 1961 is initiated separately for furnishing inaccurate particulars of income to the tune of Rs.5,35,081/-. 7. Disallowance of deduction claimed u/s 80P of the Act. (i) During the year under consideration the assessee has claimed deduction u/s 80P of the Act amounting

MURARILAL MURARKA,KOLKATA vs. I.T.O., WARD-61(3), KOLKATA, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

Penalty proceedings u/s 271(1)(c) of the Act were also initiated separately. I.T.A. No.: 636/KOL/2022 Assessment Year: 2014-15 Murarilal Murarka. 4. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who, vide order dated 23.09.2022, partly allowed the appeal of the assessee. The disallowances on account of interest on credit card payment