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

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 on account of Explanation 5 to Section 271(1)(c ) of the Act in respect of income offered after the search but in the return filed u/s 153A of the Act. Since identical issue is involved in all the appeals, they are taken up together and disposed off by this common order for the sake of convenience

SENBO ENGINEERING LIMITED,KOLKATA vs. DCIT, CIR-11, KOLKATA. , KOLKATA

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Years: 2007-08 Senbo Engineering Limited, Deputy Commissioner Of 87, Lenin Sarani, Vs Income Tax, Circle-11, Kolkata - 700013 Kolkata - 700013 (Pan: Aadcs6138B) (Appellant) (Respondent)

section- 80IA are not satisfied, the claim of deduction u/s 80IA is rejected. This denial also AY: 2007-08 attracts initiation of penalty provisions u/s 271(1)(c) for concealment of income and filing inaccurate particulars of income. 7. Before the Ld. CIT(A), the assessee submitted as under in the Statement of Facts filed with the appeal memo

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 ]

80,134/- 2007-08 98,61,421/- Total 4,32,62,823/- 5. The assessee, in the course of assessment proceedings u/s 153A, further admitted incomes of Rs.8,83,517/- and Rs.15,00,000/- for assessment years 2002-03 and 2007- 08, thereby admitting an aggregate undisclosed income of Rs.4,56,46,339/-. The A.O. had accepted the disclosures made

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 ]

80,134/- 2007-08 98,61,421/- Total 4,32,62,823/- 5. The assessee, in the course of assessment proceedings u/s 153A, further admitted incomes of Rs.8,83,517/- and Rs.15,00,000/- for assessment years 2002-03 and 2007- 08, thereby admitting an aggregate undisclosed income of Rs.4,56,46,339/-. The A.O. had accepted the disclosures made

BMW INDUSTRIES LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

80,550/-. The case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2019, and assessment was accordingly completed by the Id. AO by making addition of ₹11,31,000/- u/s 68 of the Act by treating the sales made to SR Trading as bogus sales. The penalty proceedings were

PUTUL JASH,BURDWAN vs. ACIT, CIR-1, BURDWAN, BURDWAN

In the result, the appeal filed by the assessee is allowed

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1164/Kol/2015 (िनधा"रणवष" / Assessment Year: 2006-07 Putul Jash Vs. Asssitant C.I.T, Cir – 1, Burdwan Vill. Chakundi, P.O. Nabastha, Aayakarbhawan, Kachari P.S. Memari, Burdwan – 713 407. Road, Court Compound, Burdwan – 713 101. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Afdpj3622D (Appellant) .. (Respondent) Appellant By :Shri S. K. Tulsiyan, Advocate Respondent By :Shri S. M. Das, Acit (Dr) सुनवाईकीतारीख/ Date Of Hearing : 08/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 31/08/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2006-07, Is Directed Against The Order Passed By The Ld. Cit(A), Asansol In Appeal No.202/Cit(A)/Asl/Cir-1/Bwn/13-14 Dated 17.10.2014, Which In Turn Arises Out Of A Penalty Order Passed By The Assessing Officer U/S 271(1)(C) Of The Income Tax Act, 1961 ( Herein After Referred To As The ‘Act’), Dated 30.04.2013. 2. The Said Appeal Filed By The Assessee In Ita No.1164/K/15 For A.Y.2006-07, Is Barred By Limitation By 267 Days. The Assessee Has Moved A Petition Requesting The Bench To Condone The Delay. We Heard The Party On This Preliminary Issue. The Counsel For The Assessee Has Submitted Before Us That Assessee Provided His

section 1(c). The ld. PutulJash Assessment Year: 2006-07 CIT(A) held that there was no conflict in any manner in the order of penalty in recording “concealment of income” and “furnishing of inaccurate particulars of income”. Therefore, the ld. CIT(A) did not accept the assessee’s submissions. Before the ld. CIT(A), the assessee also submitted that

BMW INDUSTRIES LIMITED ,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

80,550/-. The case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2019, and assessment was accordingly completed by the Id. AO by making addition of ₹11,31,000/- u/s 68 of the Act by treating the sales made to SR Trading as bogus sales. The penalty proceedings were

MANOJ KUMAR JAIN & SONS (HUF),KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

In the result appeals of the Assessee are allowed while the appeals by the revenue are dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

80,35,165/- 12,70,000/- 4,23,38,561/- 2008-09 2,07,69,151/- 11,73,880/- 5,86,815/- 12,74,360/- 2,38,04,206/- STATEMENT OF UTILISATION OF ADDITONAL INCOME DISCLOSED BASED ON THE SEIZED DOCUMENTS : Asst.Year Cumulative Cash in Hand Additional income Additional Income (Cumulative) utilised on the basis of seized documents

ACIT, CC-IV, KOLKATA, KOLKATA vs. MANOJ KR. JAIN & SONS (HUF), KOLKATA

In the result appeals of the Assessee are allowed while the appeals by the revenue are dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

80,35,165/- 12,70,000/- 4,23,38,561/- 2008-09 2,07,69,151/- 11,73,880/- 5,86,815/- 12,74,360/- 2,38,04,206/- STATEMENT OF UTILISATION OF ADDITONAL INCOME DISCLOSED BASED ON THE SEIZED DOCUMENTS : Asst.Year Cumulative Cash in Hand Additional income Additional Income (Cumulative) utilised on the basis of seized documents

MONISH RANJAN DASGUPTA,KOLKATA vs. ITO, WARD - 61(3), KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

80-CCC of the I.T. ACT, the surrender value is taxable in the hands of the assessee in the year of receipts. The assessee had, however, not offered any income on this account. Accordingly, a notice u/s 148 of the I.T. Act dated 13- 03-2020 had been issued and served upon the assessee. In response to the notice u/s

BMW INDUSTRIES LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

80,550/-. The case of the assessee was\nreopened u/s 147 of the Act by issuing notice u/s 148 of the Act on\n31.03.2019, and assessment was accordingly completed by the Id. AO\nby making addition of ₹11,31,000/- u/s 68 of the Act by treating the\nsales made to SR Trading as bogus sales. The penalty proceedings\nwere

ACIT, CIRCLE - 7, KOLKATA vs. HUTCHISON TELECOM EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. JCIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section

ACIT, CIRCLE - 7, KOLKATA vs. VODAFONE ESSAR EAST LTD., KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section

DCIT, CIRCLE - 7, KOLKATA, KOLKATA vs. VODAFONE ESSAR EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

u/s 41(1), it is deemed to be the bu9 profits of the current year, it automatically would qualify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section