DCIT, CC-XVI, KOLKATA, KOLKATA vs. SHRI SATYAM ROY CHOWDHURY, KOLKATA

In the result, all the six appeals of the Revenue are dismissed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

2 of Explanation 5 to section 271(1)(c ) of the Act is available to all the assessment years prior to the year of search if the conditions stipulated thereon are satisfied. Reliance in this regard is placed on the decision of the Jurisdictional High Court in the case of CIT vs Ramesh Chand Goyal in G.A.No

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.

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub- section (1). Section 158BFA(2): (2) The Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under this Chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount

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.”

section 271 (l)(c) were also initiated for filing inaccurate particulars of income and an order imposing penalty was passed. The Commissioner (Appeals) upheld the order imposing penalty. The Appellate Tribunal deleted the penalty. On appeal: Held, dismissing the appeal, that the judgment of the Supreme Court in the case of LIBERTY INDIA v. CIT [2009] 317 ITR 218(which

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]

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). Section 158BFA(2): (2) The Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under this Chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount

SRI NARENDRA N. THACKER,KOLKATA vs. DCIT, C.C.XXIV, KOLKATA

ITA Nos.1786-

Bench: : Shri M. Balaganesh

2 of Explanation 5 to section 271(1)(c ) of the Act is available to all the assessment years prior to the year of search if the conditions stipulated thereon are satisfied. Reliance in this regard is placed on the decision of the Jurisdictional High Court in the case of CIT vs Ramesh Chand Goyal in G.A.No

DCIT,CENT CIR-I ,KOL, KOLKATA vs. DEEPAK CHOUDHURY, KOLKATA

In the result, the appeals of the revenue are dismissed

Bench: : Shri Balaganesh & Shri S.S Viswanethra Ravi

2 of Explanation 5 to section 271(1)(c ) of the Act is available to all the assessment years prior to the year of search if the conditions stipulated thereon are satisfied. Reliance in this regard is placed on the decision of the Jurisdictional High Court in the case of CIT vs Ramesh Chand Goyal in G.A.No

AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

2. That the notice issued under section 271(1)(c) read with 274 is a defective notice as both the option of concealment / furnishing of inaccurate particulars has been kept open and nothing has been strike out. 3. That the Penalty Order is void-ab-initio and liable to be quashed as in the assessment order, the Ld. AO initiated

AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

2. That the notice issued under section 271(1)(c) read with 274 is a defective notice as both the option of concealment / furnishing of inaccurate particulars has been kept open and nothing has been strike out. 3. That the Penalty Order is void-ab-initio and liable to be quashed as in the assessment order, the Ld. AO initiated

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 :-

17. Apparently, the order passed on 27/11/2015 is a , the order passed on 27/11/2015 is a “Draft Assessment Order” “Draft Assessment Order” u/s 144C of the Act. It is said so on page u/s 144C of the Act. It is said so on page 1 of the order. When the Assessing Officer 1 of the order. When the Assessing Officer

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 ]

17. We have heard the submissions of the learned counsel for the assessee and the learned DR. The first and principal submission of the learned counsel for the Assessee in the appeals filed by the Assessee is with regard to the satisfaction of all the conditions under Explanation (5) to section 271 of the Act. For the sake of easy

AMAR NATH SHROFF,KOLKATA vs. DY. COMMISSIONER OF INCOME TAX, 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 ]

17. We have heard the submissions of the learned counsel for the assessee and the learned DR. The first and principal submission of the learned counsel for the Assessee in the appeals filed by the Assessee is with regard to the satisfaction of all the conditions under Explanation (5) to section 271 of the Act. For the sake of easy

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

In the result, appeal of the assessee is allowed

17,25,160/-. Income was declared under the heads ‘salary’, ‘house property’ and ‘other sources’. The Assessing Officer records at para 4 & 5 of his order as follows:- “4. ............They produced relevant evidences in support of the return of income which were seen and placed on record. 5. It is seen from the computation of total income filed along with

JEKAY INTERNATIONAL (P) LTD.,KOLKATA vs. DCIT,CC-4(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviganpati Industrial Pvt.Ltd., Vs Dcit, 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aaacg9441Q (Appellant) (Respondent) Vs Dcit, Jekay International Pvt.Ltd., 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aabcj6307K (Appellant) (Respondent) Appellant By Shri.M.Satnaliwala, Fca Respondent By Shri.Anand Kumar Kedia, Cit Dr Date Of Hearing 28.11.2018 Date Of Pronouncement 15.02.2019 Order Per S.S. Viswanethra Ravi

2) In course of search disclosure of Rs. 5,00,00,000/- was made. 3) Date of filing of return u/s 139 including disclosed income paying entire tax liability on 26.09.2013. The above proves that it is a fit case for levying penalty u/s 271 AAB of the IT. Act, 1961 for undisclosed income of the assessee. As a result

GANAPATI INDUSTRIAL (P) LTD.,KOLKATA vs. DCIT,CC-4(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviganpati Industrial Pvt.Ltd., Vs Dcit, 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aaacg9441Q (Appellant) (Respondent) Vs Dcit, Jekay International Pvt.Ltd., 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aabcj6307K (Appellant) (Respondent) Appellant By Shri.M.Satnaliwala, Fca Respondent By Shri.Anand Kumar Kedia, Cit Dr Date Of Hearing 28.11.2018 Date Of Pronouncement 15.02.2019 Order Per S.S. Viswanethra Ravi

2) In course of search disclosure of Rs. 5,00,00,000/- was made. 3) Date of filing of return u/s 139 including disclosed income paying entire tax liability on 26.09.2013. The above proves that it is a fit case for levying penalty u/s 271 AAB of the IT. Act, 1961 for undisclosed income of the assessee. As a result

SHRI ANIL CHANDRA PAUL,DAKSHIN DINAJPUR vs. DCIT, CC-XXVII, KOLKATA, KOLKATA

In the result, all the seven appeals filed by the assessee are allowed

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

u/s 271(1)(b) of the Act and levy Rs.20,000/- for non-compliance of notices u/s.142(1) of the Act. Therefore, appeal on the referred grounds is dismissed”. Aggrieved by the orders of the ld. CIT(Appeals) confirming the penalties imposed by the Assessing Officer under section 271(1)(b), the assessee has preferred these appeals before the Tribunal

DCIT, CENTAL CIRCLE -2(2), KOLKATA, KOLKATA vs. M/S/ ARYAN MINNING & TRADING CORPORATION LTD, KOLAKTA

In the result, the appeal of the Revenue is dismissed

Bench: Sh. A.T.Varkey & Sh. A.L.Sainidcit, M/S. Aryan Mining & Central Circle-2(2), Aayakar V Trading Corporation Ltd., P-1, Hide Lane, 8Th Floor, Bhawan, Poorva, 110 S Shantipally, Kolkata-700073. Kolkata-700107. Pan-Aadca7247B (Appellant) (Respondent) Appellant By Sh. A.K.Singh, Cit Dr Respondent By Sh. A.K.Tulsyan, Fca & Ms. Sikha Agarwal, Aca 27.12.2018 Date Of Hearing 01.02.2019 Date Of Pronouncement

17. From the documents on record we find that the issue with regard to addition on account of valuation of inventory of sub-grade fines arose primarily because of the letter dated 01/06/2012 which was found and seized in the course of search on 13/09/2012 bearing ID Mark PKS-1 Pages 1 to 5. The said letter was addressed

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

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

271(1)(c) r.w.s. 274 in its reply and was clear that the notice was issued to levy penalty u/s 271AAB of the Act. It is thus clear that the CIT-DR’s argument that the Revenue has already succeeded on the issue as to whether the impugned penalty is automatically flows than from the additional income declaration made during

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

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

271(1)(c) r.w.s. 274 in its reply and was clear that the notice was issued to levy penalty u/s 271AAB of the Act. It is thus clear that the CIT-DR’s argument that the Revenue has already succeeded on the issue as to whether the impugned penalty is automatically flows than from the additional income declaration made during

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

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

271(1)(c) r.w.s. 274 in its reply and was clear that the notice was issued to levy penalty u/s 271AAB of the Act. It is thus clear that the CIT-DR’s argument that the Revenue has already succeeded on the issue as to whether the impugned penalty is automatically flows than from the additional income declaration made during