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)

11. As per the provisions of Section 153A, in case of a search under Section 132 or requisition under Section 132A, the AO gets the jurisdic- tion to assess or reassess the 'total income' in respect of each assess- ment year falling within six assessment years. However, it is required to be noted that as per the second proviso

DCIT, CC-3(3), KOLKATA, KOLKATA vs. AMICUS REAL ESTATE PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: SHRI SANJAY GARG, HON’BLE (Judicial Member), DR. MANISH BORAD, HON’BLE (Accountant Member)

11. As per the provisions of Section 153A, in case of a search under section 132 or requisition under section 132A, the AO gets the jurisdiction to assess or reassess the 'total income' in respect of each assessment year falling within six assessment years. However, it is required to be noted that as per the second proviso to Section 153A

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

reassessed or recomputed in a preceding order. (11) No addition or disallowance of an amount shall form the basis for imposition of penalty, if such addition or disallowance has formed the basis of imposition of penalty in the case of the person for the same or any other assessment year. (12) The penalty referred to in sub-section (1) shall

JERMEL'S ACCADEMY,SILIGURI vs. I.T.O., WARD - 1(4), , SILIGURI

In the result, the appeal filed by the assessee is allowed as per the directions mentioned above

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

section 12A(2) which specially debarred resort to the same in view of registration having been granted from the immediately succeeding assessment year. The reassessment framed is therefore set aside. As a consequence the addition made is deleted. [Para 11]” 9. The Ld. CIT(DR) relied upon the order of the Ld. CIT(A) as well as the provisions

URVASHI SAREES PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), , KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal of Revenue is dismissed

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

11(1), Kolkata, Aayakar Bhawan, Kolkata - 700069 ................................. Respondent Appearances by: Assessee represented by : Ramesh Patodia, Advocate Department represented by : Sanat Kumar Raha, CIT-DR S.B. Chakraborthy, Sr. DR Date of concluding the hearing : 22.07.2025 Date of pronouncing the order : 24.07.2025 O R D E R I T A N o . 2 2 2 / K o l / 2 0 2 5

PRAMOD LAKRA DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. URVASHI SAREES PVT. LTD, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal of Revenue is dismissed

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

11(1), Kolkata, Aayakar Bhawan, Kolkata - 700069 ................................. Respondent Appearances by: Assessee represented by : Ramesh Patodia, Advocate Department represented by : Sanat Kumar Raha, CIT-DR S.B. Chakraborthy, Sr. DR Date of concluding the hearing : 22.07.2025 Date of pronouncing the order : 24.07.2025 O R D E R I T A N o . 2 2 2 / K o l / 2 0 2 5

NEZONE TUBES LIMITED,KOLKATA vs. DCIT, CIRCLE 1(1), KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

11 to 15 are in relation to merits of the case. As regards ground nos. 1, 3, 4 and 5 the submissions are reproduced as under: “The appeal is filed against reassessment order framed by AO. The assessee is firstly agitating Ground No. 1 regarding the validity of the reassessment proceedings as the same is barred by limitation. Reference

NEZONE TUBES LIMITED,KOLKATA vs. DCIT, CIRCLE 1(1), KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

11 to 15 are in relation to merits of the case. As regards ground nos. 1, 3, 4 and 5 the submissions are reproduced as under: “The appeal is filed against reassessment order framed by AO. The assessee is firstly agitating Ground No. 1 regarding the validity of the reassessment proceedings as the same is barred by limitation. Reference

VRINDA ENGINEERS PVT. LTD. ,KOLKATA vs. PCIT, CER-1, KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. Nos. 1274/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Principal Commissioner Of Income Tax,....Respondent Central-1, Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107 -A N D- I.T.A. Nos. 1232/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-1(1), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107

reassessment order dated 30.09.2019. Before adverting to the show-cause notice issued under section 263, we deem it appropriate to take note of brief facts. 12. The assessee has filed its return of income electronically on 29.09.2012, which was revised on 30.09.2012 showing total income of Rs.1,48,03,950/-. This return was taken up for scrutiny assessment by issuance

VRINDA ENGINEERS PVT. LTD. ,KOLKATA vs. ACIT,C.C-1(1),KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. Nos. 1274/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Principal Commissioner Of Income Tax,....Respondent Central-1, Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107 -A N D- I.T.A. Nos. 1232/Kol/2023 Assessment Year: 2012-2013 Vrinda Engineers Pvt. Ltd.,.......................Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite-213, 2Nd Floor, Kolkata-700069 [Pan: Aaacv9131E] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-1(1), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, E.M. Bypass, Kolkata-700107

reassessment order dated 30.09.2019. Before adverting to the show-cause notice issued under section 263, we deem it appropriate to take note of brief facts. 12. The assessee has filed its return of income electronically on 29.09.2012, which was revised on 30.09.2012 showing total income of Rs.1,48,03,950/-. This return was taken up for scrutiny assessment by issuance

ACIT, CIRCLE - 6(2), KOLKATA vs. M/S. NAGREEKA SYNTHETICS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is allowed for statistical purposes and the cross-objection by the assessee are dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 427/Kol/2019 Assessment Year: 2009-10 Asst. Commissioner Of Income Tax, M/S. Nagreeka Synthetics Pvt. Ltd. Circle-6(2), Kolkata Vs 6Th Floor, Jain Chamber 18, R.N. Mukherjee Road Kolkata - 700001 [Pan : Aaacn8691D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) C.O. No. 19/Kol/2021 Assessment Year: 2009-10 M/S. Nagreeka Synthetics Pvt. Ltd. Asst. Commissioner Of Income 6Th Floor, Jain Chamber Vs Tax, Circle-6(2), Kolkata 18, R.N. Mukherjee Road Kolkata - 700001 [Pan : Aaacn8691D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.D. Verma, Advocate Revenue By : Shri Abhijit Kundu, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 05/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 09/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- 4, Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 21/06/2018, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2009- 10. The Assessee Has Filed A Cross-Objection Being C.O. No. 19/Kol/2021. 2. The Registry Has Pointed Out That There Is A Delay Of 965 Days In Filing The Cross-Objection By The Assessee. The Assessee Has Filed A 2

reassessment order the AO has treated the entire loss suffered from Derivative transaction as speculative in nature by invoking explanation to Sec, 73 of the Act. I have gone through the submission of the appellant and order passed by the AO. All the transactions in which the appellant has incurred loss is in relation to derivative transactions. Derivative transactions

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

Section 11. The value of the appeal was fixed at Rs.9,980. A contention then was raised by the plaintiff in the High Court that on account of the valuation fixed by the High Court the appeal against the decree of the court of the Subordinate Judge I.T.A. No.35/Kol/2021 & C.O. No.6/Kol/2023 Assessment Year: 2009-10 M/s Maharaj Vincom

RUNGTA IRRIGATION LIMITED,DELHI vs. A.C.I.T., CENTRAL CIRCLE 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

5)(a) of the\nIBC to be discretionary.\"\n10.\nSimilarly, in the case of State of Kerala & Ors. Vs. Kandath Distilleries (supra), the\nHon'ble Apex court has discussed the difference between the discretionary and mandatory\npowers so as to interpret the use of word ‘may' in the provision as under:\n“25. Discretionary power implies freedom of choice

RUNGTA IRRIGATION LIMITED,NEW DELHI vs. D.C.I.T., CENTRAL CIRCLE - 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

5)(a) of the\nIBC to be discretionary.\n10. Similarly, in the case of State of Kerala & Ors. Vs. Kandath Distilleries (supra), the\nHon'ble Apex court has discussed the difference between the discretionary and mandatory\npowers so as to interpret the use of word ‘may' in the provision as under:\n“25. Discretionary power implies freedom of choice

M/S PREMIER IRRIGATION ADRITEC (P) LTD.,KOLKATA vs. ACIT, CIR-11(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

11 of “Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992” has held that the interest on tax will not be a charge on the property under attachment to be discharged by the custodian, however, contrary to the said provision, section 201(2) of the Income Tax Act specifically provides that the TDS either not deducted

INCOME TAX OFFICER, ESPLANADE AAYAKAR BHAVAN vs. ALERT CONSULTANTS AND CREDIT PVT LTD, R N MUKHERJEE ROAD

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

11. 05.10.2023 Tried to submit online but online is not allowing to file. 12. 06.10.2023 Submitting the paper book to file this appeal. Delay in 130 days which may kindly be condoned.” 4. The Ld. Counsel inviting our attention to column 2 of the above reproduced chart submits that though the order was received in electronic format

ACIT, CIRCLLE-34, KOLKATA vs. SUBHAS KUMAR KEDIA, KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.1677/Kol/2024 (नििाारण वर्ा / Assessment Year : 2016-2017) Acit, Circle-34, Kolkata Vs Subhas Kumar Kedia, 41, N.S.Road, Kolkata Pan No. :Afnpk 9669 M (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. नििााररती की ओर से /Assessee By : Ms. Shreya Loyalka, Ar राजस्व की ओर से /Revenue By : Shri P.N.Barnwal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 21/01/2025 घोषणा की तारीख/Date Of Pronouncement : 17/04/2025 आदेश / O R D E R Per Rajesh Kumar, Am : This Is An Appeal Filed By The Revenue Against The Order Dated 05.06.2024, Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, For The Assessment Year 2016-2017, On The Following Grounds Of Appeal :- I) That On The Facts & In The Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Erred In Quashing The Order U/S.148A(D) & All Subsequent Proceedings. Ii) That On The Facts & Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Failed To Acknowledge The Fact That The Assesse Had Not Expressed Any Grievance Against The Validity Of Order U/S 148A(D) By Moving Any Writ Petition Which Should Have Been Done In Case Of Any Grievance After Getting The Sald Order U/S.148A(D). Iii) That On The Facts & Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Erred In Quashing The Order When The Ld. Cit(A) Has No Jurisdiction To Deal With The Question Whether The 148A(D) Order Was Passed Validly Or Properly As An Order U/S.148A(D) Is Not An Appealable Order Before Ld. Cit(A) As Per Section 246A.

reassessment proceedings were triggered by an authority not specified, as per the provisions of Section 151 (ii) of the Income-tax Act, 1961 [in short, "Act"]. 4.1 in defence of the writ petitions, the revenue, inter alia, has relied upon Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 [in short, "TOLA" and paragraphs

BIMLA DEVI AGRAWAL,KOLKATA vs. A.C.I.T./D.C.I.T., CIRCLE - 34, KOLKATA, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

5), as the case may be, to the Assessing Officer and the assessee, within a period of six months from the end of the month in which a reference is made under sub-section (1). (7) The Assessing Officer may, on receipt of the report from the Valuation Officer, and after giving the assessee an opportunity of being heard, take

RUNGTA IRRIGATION LIMITED,NEW DELHI vs. A.C.I.T., CENTRAL CIRCLE 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the revenue stand dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm]

5)(a) of the IBC to be discretionary.” 10. Similarly, in the case of State of Kerala & Ors. Vs. Kandath Distilleries (supra), the Hon’ble Apex court has discussed the difference between the discretionary and mandatory powers so as to interpret the use of word ‘may’ in the provision as under: “25. Discretionary power implies freedom of choice, a competent