GOUTAM KUMAR SARKAR,SILIGURI vs. ITO, WARD 1(3), , SILIGURI

In the result, the appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

151A of the Act were brought on the stat- ute book with effect from 01.11.2020. However, the same were made effective and applicable with effect from 29.03.2022 vide notification no. when the CBDT notified the new scheme for assessment of income escaping assess- ment scheme, 2022. In our considered view the assessment framed is without jurisdiction and cannot be sustained

CHITRAKOOT TRADELINE PRIVATE LIMITED,KOLKATA vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Chitrakoot Tradeline Private Limited National Faceless Assessment C/O Agarwal Vishwanath & Centre, Associates, 2Nd Floor, E-Ramp, Jawaharlal Vs. 133/1/1A, S.N. Banerjee Road, Nehtru Road, New Delhi-110003 Pushkal Bhawan, 3 Rd Floor, Kolkata-700103, West Bengal (Appellant) (Respondent) Pan No. Aabcc3130H Assessee By : S/Shri Deep Agarwal & Shubhankar Ghosh, Ars Revenue By : Shri Santanu Ghosh, Dr Date Of Hearing: 22.01.2026 Date Of Pronouncement: 26.02.2026

u/s 142(1) of the Act were issued on 13th and 20th August, 2021, which were not complied with. Hence, the AO made the addition of ₹2,95,60,000/- to the total income of the assessee. 4. In the appellate proceedings, the ld. CIT (A) confirmed the order of the ld. AO by observing and holding as under

TIGERHILL TRADELINK PRIVATE LIMITED,KOLKATA vs. ITO, WARD 10(2), , KOLKATA

In the result, the appeal of the Appellant is Dismissed

151A of the Act and the e-\nAssessment of Income Escaping Assessment Scheme, 2022. The said\nscheme, read with Section 144B, unequivocally requires that such notices\nbe issued only by an authority selected through an automated process and\nrouted through the National Faceless Assessment Centre (NFAC). In the\npresent case, the failure to adhere to this prescribed procedure renders

TIGERHILL TRADELINK PRIVATE LIMITED,KOLKATA vs. ITO, WARD 10(2), , KOLKATA

In the result, the appeal of the Appellant is Dismissed

151A of the Act and the e-\nAssessment of Income Escaping Assessment Scheme, 2022. The said\nscheme, read with Section 144B, unequivocally requires that such notices\nbe issued only by an authority selected through an automated process and\nrouted through the National Faceless Assessment Centre (NFAC). In the\npresent case, the failure to adhere to this prescribed procedure renders

STREAM SUPPLIERS PVT. LTD.,,KOLKATA vs. ITO, WARD 7(1),, KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

151A. 7. For That the Appellate Authority failed to appreciate that the Appellant's trading in Futures & Options (F&O) segments was genuine, carried out through recognized stock exchanges in compliance with SEBI regulations, and the resultant losses were part of normal market risk. The Assessing Officer made additions merely on presumptions based on SEBI's order dated 26.12.2018, despite