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, 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

20,00,000/- 2003-2004 Rs. 35,00,000/- 2004-2005 Rs. 75,00,000/- 2005-2006 Rs.1,50,00,000/- 2006-2007 Rs.2,00,00,000/- TOTAL Rs.5,00,00,000/- 3. During the course of assessment proceedings, the assessee suo motu prepared a cash flow statement taking into consideration the I.T.A. No. 639, 640, 641, 642, 643 & 644/KOL

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(1)(c), Section 271AAA & Section 271AAB, the Legislature has restricted the scope of penal provision only to “undisclosed income” and not assessed total income. Moreover the term/expression “undisclosed income” has been defined by the Legislature in all such penal provisions in a specific and restricted manner and not in an inclusive manner. For that reason the definition of undisclosed

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

20-01-2016 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahmed, Accountant Member:- These five appeals filed by same assessee against the order of Commissioner of Income Tax (Appeals)-II, Kolkata dated 11.01.2013. Assessments were framed by ACIT, CC-XXVII, Kolkata u/s 153A r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter

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

20-01-2016 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahmed, Accountant Member:- These five appeals filed by same assessee against the order of Commissioner of Income Tax (Appeals)-II, Kolkata dated 11.01.2013. Assessments were framed by ACIT, CC-XXVII, Kolkata u/s 153A r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter

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

20-01-2016 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahmed, Accountant Member:- These five appeals filed by same assessee against the order of Commissioner of Income Tax (Appeals)-II, Kolkata dated 11.01.2013. Assessments were framed by ACIT, CC-XXVII, Kolkata u/s 153A r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter

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

20-01-2016 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahmed, Accountant Member:- These five appeals filed by same assessee against the order of Commissioner of Income Tax (Appeals)-II, Kolkata dated 11.01.2013. Assessments were framed by ACIT, CC-XXVII, Kolkata u/s 153A r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter

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(1)(c), Section 271AAA & Section 271AAB, the Legislature has restricted the scope of penal provision only to “undisclosed income” and not assessed total income. Moreover the term/expression “undisclosed income” has been defined by the Legislature in all such penal provisions in a specific and restricted manner and not in an inclusive manner. For that reason the definition of undisclosed

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

ITA Nos.1786-

Bench: : Shri M. Balaganesh

penalty u/s 271(1)(c ) of the Act.” 8.4.3. We find that the assessee by making an additional disclosure of income for the Asst Years 2001-02 & 2002-03 in the sums of Rs. 2,50,000/- and Rs. 4,72,603/- respectively before any detection by the department in order to meet the deficiencies, if any, on the outflows

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

penalty proceedings was initiated with the arrow symbol in the notice u/s 274 r/w section 271(1)(c) of the I.T. Act, 1961 dated 31.03.2016. 2. That the department craves leaves to add, modify or alter any of the ground(s) of appeal and/or adduce additional evidence at the time of hearing of the case.” 2. The brief facts

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

penalty proceedings was initiated with the arrow symbol in the notice u/s 274 r/w section 271(1)(c) of the I.T. Act, 1961 dated 31.03.2016. 2. That the department craves leaves to add, modify or alter any of the ground(s) of appeal and/or adduce additional evidence at the time of hearing of the case.” 2. The brief facts

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADECOMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

penalty proceedings was initiated with the arrow symbol in the notice u/s 274 r/w section 271(1)(c) of the I.T. Act, 1961 dated 31.03.2016. 2. That the department craves leaves to add, modify or alter any of the ground(s) of appeal and/or adduce additional evidence at the time of hearing of the case.” 2. The brief facts

M/S. DHANSAR ENGINEERING (P) LTD.,DHANBAD vs. ACIT, C.C. - VII, KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed

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

20,620/- declared u/s. 139(1) under original return filed on 19-12-2005 for A.Y 2005- 06. 7. In the course of search proceedings the assessee filed its explanation regarding cash etc... as found during the search with full particulars containing books of account etc. before the AO . The AO examined the same and no adverse inference was drawn

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 :-

penalty u/s 271(1)(c) of the Act are illegal notices and are are illegal notices and are void-ab-initio. In the case-law relied upon by the ld. law relied upon by the ld. Counsel, these notices u/s 156 and 274 of the Act, might have been held to be valid Counsel, these notices u/s

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

In the result, appeal of the assessee is allowed

20% or 30% of the undisclosed income. There is no dispute that the AO has not spe There is no dispute that the AO has not specified the default and charge against the cified the default and charge against the assessee which necessitated the levy of penalty under assessee which necessitated the levy of penalty under section 271AAB section 271AAB

REENA MITRA,KOLKATA vs. I.T.O WD - 29(2),KOLKATA, KOLKATA

In the result, the appeal by the assessee is allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2006-07

20-01-2016 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahmed, Accountant Member:- This appeal by the assessee is arising out of order of Commissioner of Income Tax (Appeals)-XVI, Kolkata in appeal No.13/CIT(A)XVI/Wd- 29(2)/Kol/09-10 dated 08.02.2013. Assessment was framed by ITO Ward- 29(2), Kolkata u/s

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 illegal. 20. We have carefully considered the rival submissions. As rightly pointed out by the learned counsel for the assessee the CIT(A) has in the original order dated 26.08.2009 accepted that the assessee satisfies all the conditions for grant of immunity under Explanation (5) to section 271 of the Act except the condition with regard to payment

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 ]

penalty illegal. 20. We have carefully considered the rival submissions. As rightly pointed out by the learned counsel for the assessee the CIT(A) has in the original order dated 26.08.2009 accepted that the assessee satisfies all the conditions for grant of immunity under Explanation (5) to section 271 of the Act except the condition with regard to payment

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. Copy of the same is annexed herewith and marked as Annexure B. However, the Ld. A.O. imposed penalty of Rs. 20,000/- for non compliance of notices u/s.142(1) issued on several elates without considering the facts that the assessee was prevented by reasonable cause for such failure of non compliances and there