ITO, WD-5(2), KOLKATA, KOLKATA vs. M/S SAYAJI MARKETING PVT. LTD., KOLKATA

In the result we set aside the order of the Ld

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 282/Kol/2014 Assessment Year : 2010-11 Ito, Ward-5(2), Kolkata -Vs- M/S Sayaji Marketing Pvt. Ltd. [Pan: Aagcs 0147 M] (Appellant) (Respondent) C.O. No. 39/Kol/2018 (Arising Out Of I.T.A No. 282/Kol/2014) Assessment Year : 2010-11 M/S Sayaji Marketing Pvt. Ltd. -Vs- Ito, Ward-5(2), Kolkata [Pan: Aagcs 0147 M] (Cross Objector) (Respondent)

Penalty proceeding u/s 271(1)(c) already initiated against the assessee. Assessed u/s 143(3) of the Income Tax Act, 1961. Copy of the Order, Demand Notice &Challan issued to the assessee. 4. The A.O. made an addition of Rs.190 Crores u/s 68 of the Act, as unexplained cash credit. Aggrieved, the assessee carried the matter in appeal before

ITO, WD-5(3), KOLKATA, KOLKATA vs. M/S BLESSING COMMERCIAL PVT. LTD., KOLKATA

In the result we set aside the order of the Ld

Bench: Hon‟Ble Sri J. Sudhakar Reddy, Am & Sri S.S. Viswanethra Ravi, Jm] I.T.A. No. 271/Kol/2014 Assessment Year : 2010-11 I.T.O., Ward-5(3), Kolkata -Vs.- M/S. Blessings Commercial Pvt. Ltd. 228A, A.J.C. Bose Road, Kolkata – 700 020 [Pan : Aaccb 1349 N] (Appellant) (Respondent) For The Appellant : Shri Goulen Hangshing, Cit, Dr. For The Respondent : Shri Manoj Kataruka, Advocate Date Of Hearing : 12.06.2017 Date Of Pronouncement : 28.06.2017 Order Per J. Sudhakar Reddy, Am This Is An Appeal Filed By The Revenue Directed Against The Order Of The Commissioner Of Income Tax (Appeals)-Vi, Kolkata, (Hereinafter The “Ld. Cit(A)”), Dt. 19/11/2013, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The „Act‟), Relating To Assessment Year 2010-11. 2. Facts In Brief:- The Assessee Is A Company & Is Engaged In The Business Of Finance & Investment. It Filed Its Return Of Income For The Assessment Year 2011-12 On 22/09/2010, Declaring –Nil- Income. It Showed A Loss Of Rs.668/-. The Facts As Recorded By The Assessing Officer In The Assessment Order Are Extracted Below:- “Para 1.2.1 The Assessee Has Shown Receipt Of Under Mentioned Share Capital Of Rs.1,90,00,000/- & Share Premium Of Rs.188,10,00,000/- During The Asst. Year 2010-11. The Assessee Credited Rs.1,90,00,000/- In Total In Its Books Against The Above Receipts. The Assessee Claimed That The Detail Of Receipts Are As Under :-

Penalty proceeding u/s 271(1)(c) already initiated against the assessee. Assessed u/s 143(3) of the Income Tax Act, 1961. Copy of the Order, Demand Notice & Challan issued to the assessee. 4. The A.O. made an addition of Rs.190 Crores u/s 68 of the Act, as unexplained cash credit. Aggrieved, the assessee carried the matter in appeal before

NAVANSH VINIMAY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

penalty under section 271(1)(c) is also initiated. As discussed in the foregoing paragraphs, the assessee had arranged pre- arranged accommodation entries to the tune of Rs. 63,76,486/- through the entry operators who facilitates such accommodation entry on receipt of commission only. As reported by the Investigation Directorate, the entry operators charge a commission

M/S. BLUE LOTUS DESIGNERS PVT. LTD.,KOLKATA vs. ITO, WARD-7(4), KOLKATA, KOLKATA

Accordingly, the grounds raised by the Revenue are dismissed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 M/S Blue Lotus Designers V/S. Income Tax Officer, Pvt. Ltd., 6/1C, Pranath Ward-7(4), Aayakar Chowdhury Lane, Bhawan, P-7, Kolkata-700 002 Chowringhee Square, [Pan No.Aaecb 9302 R] Kolkata-700 069 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D. Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Supriyo Pal, Jcit, Sr-Dr ""यथ" क" ओर से/By Respondent 07-11-2019 सुनवाई क" तार"ख/Date Of Hearing 08-01-2020 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-16 Kolkata’S Order Dated 27.02.2017 Passed In Case No.755/Cit(A)-16/Kol/2015-16/W-7(4) Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused.

260A of the Income Tax Act cannot re-appreciate the evidence to come to any contrary evidence. Considering that the authorities have rendered the findings of facts based on documents which have not been disputed, we find that there are no substantial question of law which arises in the present Appeal for consideration. ITA No.941/Kol/2017 A.Y. 2012-13 M/s Blue

ITO, WARD - 40(4), KOLKATA , KOLKATA vs. SHRI VISHWANATH GUPTA, KOLKATA

In the result, appeal of revenue is dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

271 held that suspicion however strong, cannot take the place of evidence. 16. We find that the assessing officer as well as the Ld. CIT(A) has been guided by the report of the investigation wing prepared with respect to bogus capital gains transactions. However, we do not find that the assessing officer as well

DCIT, CIRCLE - 10(1), KOLKATA , KOLKATA vs. M/S. DREAM BAKE PVT. LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

271 (1)(c) of IT Act, 1961 has been initiated separately for furnishing inaccurate particulars of income. " 6.2. The Assessee has made detailed submission. Some of which is reproduced as below: "3.2 It is humbly submitted that the appellant company maintains a running account in respect of Switz Foods wherein the expenses incurred on regular basis along with business advances

SMT. MINU GUPTA ,KOLKATA vs. ITO, WARD - 44(1), KOLKATA , KOLKATA

In the result, the appeal of the 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]

penalty levied by the Adjudicating authority of SEBI on the traders (i) Rakhi Trading Pvt. Ltd., (ii) Tungrali Trade Place Pvt. Ltd. and (iii) TLB Securities Ltd. Therefore, according to Ld. DR, the Hon’ble Supreme court has reversed the action of the Securities Appellate Tribunal and restored the order of the Adjudicating Officer of the SEBI in penalizing