ARATI RAY,KOLKATA vs. DCIT, CEN. CIR. -3(4), KOLKATA

In the result, all the appeals of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded.” 15. A bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

SAMIT RAY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

In the result, all the appeals of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded.” 15. A bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

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

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded.” 23. A bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

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

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded.” 23. A bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

TERAI FRUITS COMPANY,SILIGURI vs. INCOME TAX OFFICER, WARD-1(1), SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

129. An application to the Assessing Officer to grant immunity from imposition of penalty under section 270A and from initiation of proceedings under section 276C or section 276CC shall be made in Form No. 68.]” Mere submission of appellant in writing instead of Form 68 cannot be reason for granting immunity from penalty u/s 270A. Since the appellant

GARUD CREDIT & HOLDING PVT LTD,KOLKATA vs. I.T.O WD - 9(2),KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 1270/Kol/2013 Assessment Year: 2009-2010 Garud Credit & Holding Pvt. Limited,.........Appellant D.J. Shah & Co., 2, Elgin Road, Kolkata-700020 [Pan: Aaacg9791P] -Vs.- Income Tax Officer,.................................Respondent Ward-9(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Veekaas S. Sharma, Ca, Appeared On Behalf Of The Assessee Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : February 06, 2023 Date Of Pronouncing The Order : May 01, 2023 O R D E R

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded." 18. On a bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

section 69C of the Act.\nI have taken into consideration the submissions of the appellant,\nalready extracted above and the findings of the AO as well as the\nmaterial placed on record, It is noted that the impugned addition\nemanated from the information available with the Department,\nwhich was gathered during the course of search and seizure\noperation conducted under

M/S. SHAKAMBHARI ISPAT & POWER LTD.,KOLKATA vs. DCIT, CC - 3(3),, KOLKATA

section 69C of the Act.\nI have taken into consideration the submissions of the appellant,\nalready extracted above and the findings of the AO as well as the\nmaterial placed on record, It is noted that the impugned addition\nemanated from the information available with the Department,\nwhich was gathered during the course of search and seizure\noperation conducted under

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

section 69C of the Act.\nI have taken into consideration the submissions of the appellant,\nalready extracted above and the findings of the AO as well as the\nmaterial placed on record, It is noted that the impugned addition\nemanated from the information available with the Department,\nwhich was gathered during the course of search and seizure\noperation conducted under

PARASHNATH INVESTMENT LTD.,KOLKATA vs. PCIT-2, KOLKATA

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

Bench: Sri Rajpal Yadav & Dr. Manish Borad

129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded." 9.1. On a bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call

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

reassessment proceedings for reopening the case U/S 147/148 of the Act which was disposed off vide letter dtd. 06112/2019. Another notice U/S 142(1) of the Act issued on 06.12.2019 in terms of section 129

ASHIKA STOCK BROKING LIMITED, KOLKATA,KOLKATA vs. D.C.I.T., CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

129 taxmann.com 68 (Gujarat), the Hon'ble High Court upheld the reopening proceedings where AO issued reopening notice on the ground that information was received from AIMS module that shares sold by assessee were of penny stocks. The Hon'ble High Court upheld the reopening since information was specific with regard to transactions of penny stocks entered into by assessee

ASHIKA STOCK BROKING LIMITED,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

129 taxmann.com 68 (Gujarat), the Hon'ble High Court upheld the reopening proceedings where AO issued reopening notice on the ground that information was received from AIMS module that shares sold by assessee were of penny stocks. The Hon'ble High Court upheld the reopening since information was specific with regard to transactions of penny stocks entered into by assessee

ASHIKA STOCK BROKING LIMITED, KOLKATA,KOLKATA vs. DCIT, CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

129 taxmann.com 68 (Gujarat), the Hon'ble High Court upheld the reopening proceedings where AO issued reopening notice on the ground that information was received from AIMS module that shares sold by assessee were of penny stocks. The Hon'ble High Court upheld the reopening since information was specific with regard to transactions of penny stocks entered into by assessee

ASHIKA STOCK BROKING LIMITED,KOLKATA vs. DCIT, CC-2(1), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

129 taxmann.com 68 (Gujarat), the Hon'ble High Court upheld the reopening proceedings where AO issued reopening notice on the ground that information was received from AIMS module that shares sold by assessee were of penny stocks. The Hon'ble High Court upheld the reopening since information was specific with regard to transactions of penny stocks entered into by assessee

ROHIT BAID,KOLKATA vs. ITO, WARD-36(1), KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.15/Kol/2024 Assessment Year: 2015-16 Rohit Baid………………………..…………………… ........................……Appellant Nokha House, 190B, S P Mukherjee Road, Kalighat, Kolkata – 700026. [Pan: Adppb7719R] Vs. Ito, Ward-36(1), Kolkata…...................…................…........……...…..…..Respondent Appearances By: Shri Bikash Surana, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 13, 2024 Date Of Pronouncing The Order : September 12, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 07.11.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That The Ito Ward 36(1) Kolkata Was Not Vested With The Pecuniary Jurisdiction Over The Case Of The Assessee For The Year Under Consideration, Therefore, The Notice U/S 148 Dated 3 1.03.2021 Issued By Non-Jurisdictional Ao Does Not Have Legal Sanctity & Thus Subsequent Proceedings & Assessment Dated 07.11.2023 Cannot Be Sustained & Is Liable For Being Struck Down, Thus Bad In Law & Void.

sections 119, 120, 124, 127, 129 etc. Without prejudice to the above the defence of the department is confined to the technicalities of jurisdiction of assessment, as per grounds of appeal taken by assessee. 3. This issue is covered in favour of the Revenue by the decisions of Hon'ble Allahabad High Court and Hon'ble Madaras High Court

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

section 132(4) of the Act dated\n02.12.2018, wherein they had admitted that they were arranging\ncash loans in lieu of commission. It was observed that one\npromissory note on the letterhead of the assessee was also seized,\nwhich stated that, the appellant was in receipt of Rs.50,000/-from\none Mr. Amit Agarwal. According to the AO, there

D.C.I.T., CC - 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

section 132(4) of the Act dated\n02.12.2018, wherein they had admitted that they were arranging\ncash loans in lieu of commission. It was observed that one\npromissory note on the letterhead of the assessee was also seized,\nwhich stated that, the appellant was in receipt of Rs.50,000/-from\none Mr. Amit Agarwal. According to the AO, there

NAVNIRMAN INFRACON PRIVATE LIMITED,KOLKATA vs. ITO, WARD 10(2), , KOLKATA

In the result, the appeal of the assessee is allowed

section 147 to 151 of the Act. He also\nsubmitted that in the said notice there is no mention of authorization of a\nhigher authority to initiate the reassessment proceedings, therefore, the\nentire initiation has been vitiated and become bad in law. For this\nproposition, Id. AR referred to the decision of Hon'ble Bombay High court in\nthe case