M/S. IMC LTD.,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

business of bulk liquid cargo handling, storage and warehousing and trading activities. The assessee, for the year under consideration has earned dividend income of Rs. 21,82,188/- which is exempted u/s 10(34) of the Act but no expense was disallowed incurred in connection with the dividend income. Accordingly while assessment proceedings, AO worked out the expenses incurred

M/S TEA PROMOTERS (INDIA) PVT LTD,KOLKATA vs. D.C.I.T RG - 4,KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

business of blending & export of tea. The assessee, for the year under consideration has filed its return of income dated 08.10.2002 which was processed u/s. 143(1) of the Act dated 08.12.2003. Thereafter case was selected under scrutiny and accordingly assessment was framed u/s. 143(3) of the Act on 10.03.2005 wherein the exemption claimed by the assessee

INCOME TAX OFFICER WARD-4(4), KOLKATA vs. M/S TEA PROPOTERS (INDIA) PVT. LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

business of blending & export of tea. The assessee, for the year under consideration has filed its return of income dated 08.10.2002 which was processed u/s. 143(1) of the Act dated 08.12.2003. Thereafter case was selected under scrutiny and accordingly assessment was framed u/s. 143(3) of the Act on 10.03.2005 wherein the exemption claimed by the assessee

A.C.I.T CIR - 36,KOLKATA., KOLKATA vs. M/S SRI RAM COMMERCIAL CO, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

business of blending & export of tea. The assessee, for the year under consideration has filed its return of income dated 08.10.2002 which was processed u/s. 143(1) of the Act dated 08.12.2003. Thereafter case was selected under scrutiny and accordingly assessment was framed u/s. 143(3) of the Act on 10.03.2005 wherein the exemption claimed by the assessee

M/S TEA PROMOTERS (INDIA) PVT. LTD.,KOLKATA vs. DCIT, CIRCLE - 4, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

business of blending & export of tea. The assessee, for the year under consideration has filed its return of income dated 08.10.2002 which was processed u/s. 143(1) of the Act dated 08.12.2003. Thereafter case was selected under scrutiny and accordingly assessment was framed u/s. 143(3) of the Act on 10.03.2005 wherein the exemption claimed by the assessee

ARISTOCRAT RESIDENCES LLP ,KOLKATA vs. INCOME TAX OFFICER WARD 34 (1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Income Tax Officer, Ward Aristocrat Residences Llp 34(1) 2 Oswal Chambers Church Lane Aaykar Bhavan, Bbd Bagh, Kolkata-700001 Vs. Kolkata-700107 West Bengal West Bengal (Appellant) (Respondent) Pan No. Aavfa9997R Assessee By : Dr. Kapil Goel, Ar Revenue By : H. Robindro Singh, Dr Date Of Hearing: 06.02.2025 Date Of Pronouncement : 01.04.2025

reassess the income of the petitioner under Section 147 of the Act. 13. As clearly seen from the record, to which, we have made a reference in the aforesaid paragraphs, it appears to be quite clear that there was a search and seizure action on 4 October, 2018 on the business

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

income not arising from its business operations, which made it ineligible for deduction under Section 80P of the Act, as held by the Hon'ble Supreme Court. Page 35 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 24. In view of the aforesaid, we are of the opinion

THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

income not arising from its business operations, which made it ineligible for deduction under Section 80P of the Act, as held by the Hon'ble Supreme Court. Page 35 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. 24. In view of the aforesaid, we are of the opinion

ACIT, CIRCLE - 56, KOLKATA, KOLKATA vs. THE WEST BENGAL STATE CO-OPT. BANK LTD., KOLKATA

In the result, the appeals as well as the cross-objections are dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.Anos.737-742/Kol/2011 Assessment Years : 1996-97 To 2001-02 A.C.I.T., Circle-56, -Vs.- The West Bengal State Co-Operative Kolkata Bank Ltd.Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) C.O.Nos.36-40/Kol/2011 (A/O I.T.A Nos. 737-741/Kol/2011 ) Assessment Years : 1996-97 To 2000-2001 The West Bengal State Co-Operative -Vs.- A.C.I.T., Circle-56, Bank Ltd., Kolkata Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri N.C.Mondal, Ca Date Of Hearing : 27.07.2016. Date Of Pronouncement : 03.08.2016. Order Per Bench

reassessment proceedings u/s.147 of the Income Tax Act, 1961 (Act), by the AO for the aforesaid assessment years was invalid. Since common issues are involved in all these appeals, they were heard together and we deem it convenient to pass a common order. ITA Nos.737-742/K/2011& CO.36-40/K/2011-The W.B.State Copt.Bank Ltd. A.Y.1996-97 to 2001-02 1 2. The only common issue involved

SURESH KUMAR PODDAR,KOLKATA vs. I.T.O., WARD - 63(4), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR (Accountant Member)

reassess the income of the petitioner under Section 147 of the Act. 13. As clearly seen from the record, to which, we have made a refer- ence in the aforesaid paragraphs, it appears to be quite clear that there was a search and seizure action on 4 October, 2018 on the business

THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

business of wholesale supply of consumer goods. The assessee was assessed to tax in the status of an AOP and had filed its return of income for the AY 2020-21 on 12.02.2021 declaring total income at Rs. ‘Nil’ after claiming deduction u/s 80P of the Act. The case of the assessee was selected for complete scrutiny under CASS

D.C.I.T., CIRCLE-11 KOLKATA, KOLKATA vs. M/S BISHWANATH TEA CO. LTD., KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

reassessment proceedings that all the aforesaid income were inextricably connected with the business of growing and manufacturing of tea and therefore

LOVELOCK AND LEWES,KOLKATA vs. ACIT, CIR-54, KOLKATA, KOLKATA

In the result both the appeals are allowed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ] I.T.A No. 1277/Kol/2014 Assessment Year : 2009-10

business or profession carried on by the Assessee, he has allowed deduction of 8 A.Yr.2009-10 the same in computing the assessed income for the year under consideration. It was contended by him that issues which are accepted, do not find mention in the assessment order and only such points are taken note of on which the assessee

PRINCE WATERHOUSE,KOLKATA vs. ACIT, CIR-54, KOLKATA, KOLKATA

In the result both the appeals are allowed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ] I.T.A No. 1277/Kol/2014 Assessment Year : 2009-10

business or profession carried on by the Assessee, he has allowed deduction of 8 A.Yr.2009-10 the same in computing the assessed income for the year under consideration. It was contended by him that issues which are accepted, do not find mention in the assessment order and only such points are taken note of on which the assessee

HARSH COMTRADE PVT LTD,SURAT vs. INCOME TAX OFFICER, WARD 5(4), KOLKATA

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

Bench: Shri George Mathanआयकर अपील सं/Ita No.225/Kol/2024 (नििाारण वर्ा / Assessment Year :2012-2013) Harsh Comtrade Private Limited, Vs Ito, Ward-5(4), Kolkata 1/A, Stuti Apartment, Near Ashok Panhouse, City Light, Surat, Gujarat Pan No. :Aabcg 8847 C (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) : Shri Mehul Shah, Ar नििााररती की ओर से /Assessee By राजस्व की ओर से /Revenue By : Shri S.B. Chakraborthy, Addl. Cit-Sr.Dr सुनवाई की तारीख / Date Of Hearing : 01/07/2025 घोषणा की तारीख/Date Of Pronouncement : 01/07/2025 आदेश / O R D E R This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 28.12.2023, Passed In Din & Order No.Itba/Nfac/S/250/2023-24/1059161646(1) For The Assessment Year 2012-2013. 2. Shri Mehul Shah, Ld. Ar Appeared On Behalf Of The Assessee & Shri S.B.Chakraborthy, Ld.Sr. Dr Appeared On Behalf Of The Revenue. 3. At The Time Of Hearing, Ld. Ar Submitted That He Has Filed Written Submissions Before The Tribunal Which Has Been Placed In The Paper Book At Pages 90 To 104 Which Reads As Follows :- Before Income Tax Appellate Tribunal, Kolkata - 'Smc' Bench In The Case Of Harsh Comtrade Pvt. Ltd Sub: Written Submission For A.Y. 2012-13 Ref: Assessee'S Appeal No. 225/Kol/2024 Date Of Hearing: 21.08.2024 May It Please To Your Honour 1. In This Case, The Case Is Re-Opened On The Basis Of Reasons For Reopening Recorded On 23.03.2018. The Same Is Reproduced

business. c. The only inquiry carried out by the Assessing Officer is issuing summons on the bank manager of Dhanlakshmi Bank who has simply provided the bank statement copy of M/s. Fast Move Merchants Pvt. Ltd. [A/c. No.02060670002004]. Such inquiry cannot be termed as leading to any reason to believe any escapement of income. d. On scrutiny of the bank

ITO, WD-12(1), KOLKATA, KOLKATA vs. M/S NUPUR CARPETS PVT. LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri N.V. Vasudevan, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.436/Kol/2016 (िनधा"रणवष" / Assessment Year: 2007-08 I.T.O, Wd-12(1), Kolkata Vs. M/S Nupur Carpets Pvt. Ltd. Aayakar Bhawan, P-7, 23C, Ashutosh Chowdhury Chowringhee Square, Kolkata – Avenue, Kolkata – 700 019. 700 019. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aabcn 0170 A (Assessee) .. (Respondent) Assessee By :Shri Soumyajit Dasgupta, Addl. Cit Respondent By :Shri Sujoy Sen, Advocate. सुनवाईकीतारीख/ Date Of Hearing : 21/11/2017 घोषणाकीतारीख/Date Of Pronouncement : 10/01/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year 2007-08, Is Directed Against The Order Passed By The Ld. Commissioner Of Income Tax (Appeals)–4, Kolkata In Appeal No.195/Cit(A)-4/Cir- 12/Kol/14-15, Dated 17.12.2015, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S.147/143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 01.03.2013. 2. The Grounds Of Appeal Raised By The Revenue Read As Under: 1. That On The Facts & Circumstances Of The Case, The Ld. Cit(A) Has Erred By Ignoring That The Assessee Kept On Changing As Per Its Own Liberty To Convert Stock-In-Trade To Investment & Vice Versa Year To Year As Per Its Convenience Specially, When The Assessee Failed To Adhere To Any Reasonable Basis & Fails To Apply Any Definite Method Of Categorizing The Income Whereas The Provisions On I.T. Act Are Differently Applicable On Business & On Investment.

business income while completing the assessment for the A.Y. 2006-07 and 2008-09. It is further seen that Brought forward loss/depreciation was not adjusted with the assessed income resulting in excess carry forward of loss/depreciation.” At the time of reassessment

M/S AKANKSHA VINIYOG LTD. vs. C.I.T. I, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

business income of the assessee and assessed as such in the original 143(3) proceedings by the ld AO. Even in the reassessment

JCIT, (OSD), CIR-8(1), KOLKATA, KOLKATA vs. M/S HI-TECH SYSTEMS & SERVICES LTD., KOLKATA

In the result, both the appeals of the revenue as well as the cross objections of the assessee are dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 1194-1196/Kol/2016 Assessment Years : 2006-07, 2007-08 & 2008-09 Jcit, Osd, Circle-8(1), Kolkata -Vs- M/S Hi-Tech Systems & Services Ltd. [Pan: Aaach 6621 F] (Appellant) (Respondent) C.O. Nos. 43-45/Kol/2016 (Arising Out Of I.T.A Nos. 1194-1196/Kol/2016) Assessment Years : 2006-07, 2007-08 & 2008-09 M/S Hi-Tech Systems & Services Ltd. -Vs- Jcit, Osd, Circle-8(1), Kolkata [Pan: Aaach 6621 F] (Appellant) (Respondent)

business income for the Asst Year 2009-10, had been duly considered and relief granted by the ld AO in the assessment order framed u/s 143(3) of the Act dated 1.8.2011. 5.1. The assessee further submitted that the income assessed u/s 143(3) of the Act can be modified even if the same has gone below the returned income