I.T.O.,WARD-1(1), KOLKATA vs. M/S PCM STRESCON OVERSEAS VENTURE LTD., KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

154, 155 and 158BE and for the purposes of payment of interest under section 244A, this proviso shall also apply accordingly. Explanation 2.—For the purposes of this section, where, by an order referred to in clause (i) of sub-section (6),— (a) any income is excluded from the total income of the assessee for an assessment year, then

M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

154, 155 and 158BE and for the purposes of payment of interest under section 244A, this proviso shall also apply accordingly. Explanation 2.—For the purposes of this section, where, by an order referred to in clause (i) of sub-section (6),— (a) any income is excluded from the total income of the assessee for an assessment year, then

SRI GOPINATH GHORAI,PURBA MEDINIPUR vs. ACIT, CIR-27, HALDIA, HALDIA

In the result the appeal of the assessee is dismissed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri S.S.Viswanethra Ravi, Jm ] I.T.A No. 01/Kol/2016 Assessment Year : 2005-06

reassessment order dated 24/12/2010 not from the date of original assessment. The appellant contended that order passed under section 143(3) dated 18.12.2007 steps into the shoes of the order under section under section 5 Gopinath Ghorai A.Yr.2005-06 143(3) read with section 147 dated 24.12.2007 and the time limit starts for making rectification under section 154

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S COMMAND CONSTRUCTIONS PVT. LTD., KOLKATA

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

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 571/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Command Constructions Private Ltd. [Pan: Aaccc5075A ] (Appellant) (Respondent)

reassessment completed u/s 147/143(3) of the Act dated 28.3.2014, the income of the assessee firm representing short term capital gain of Rs 96,37,85,635/- was brought to tax. The brief facts of this addition is that the facts with regard to revaluation of assets by M/S.Salarpuria Softzone, are that one M/s. I Gate Global Solutions

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S BLUE HEAVEN GRIHA NIRMAN PVT. LTD., KOLKATA

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

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 570/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Blue Heaven Griha Nirman Pvt. Ltd. [Pan: Aaccb 3287 F ] (Appellant) (Respondent)

reassessment completed u/s 147/143(3) of the Act dated 28.3.2014, the income of the assessee firm representing short term capital gain of Rs 96,37,85,635/- was brought to tax. The brief facts of this addition is that the facts with regard to revaluation of assets by M/S.Salarpuria Softzone, are that one M/s. I Gate Global Solutions

ITO, WD-1(4), KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN PRIVATE LTD., KOLKATA

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

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A No. 569/Kol/2015 Assessment Year : 2006-07 Ito, Ward-1(4), Kolkata -Vs- M/S Orchid Griha Nirman Pvt. Ltd. [Pan: Aaaco 7148 L ] (Appellant) (Respondent)

reassessment completed u/s 147/143(3) of the Act dated 28.3.2014, the income of the assessee firm representing short term capital gain of Rs 96,37,85,635/- was brought to tax. The brief facts of this addition is that the facts with regard to revaluation of assets by M/S.Salarpuria Softzone, are that one M/s. I Gate Global Solutions

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154 for any assessment year the proceedings of which have been completed before the 1st day of October, 2009. (3

THE UNITED PROVINCES SUGAR COMPANY LTD., ,KOLKATA vs. ITO, WARD - 12(2), KOLKATA

In the result, appeal of the assessee is allowed

reassessment proceedings the ITO made addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of ostensible transactions in hundi

DCIT, CIRCLE-12(1), KOLKATA, KOLKATA vs. M/S DOTEX MERCHANDISE PVT. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and the cross objections are also dismissed as infructuous

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

reassessment was lacking, still, the assessment would be valid and ex consequenti, the addition would be sustainable. This, in my considered opinion, is a totally illogical and unsound proposition. I, therefore, order to delete the addition of Rs. 2.36 lakh and odd made by the ld. CIT (A).” 17. In both these decisions the concurrent view expressed was that unless

M/S. INDIAN ROADWAYS CORPORATION LTD., ,KOLKATA vs. PRINCIPAL CIT, CENTRAL - 1, KOLKATA , KOLKATA

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

Bench: Shri A.T.Varkey, Jm & Dr. A.L. Saini, Am Vs. Principal Commissioner Of M/S Indian Roadways Corporation Ltd. Income Tax, Central-I, Irc House, 1, Sunyat Sen Street, Kolkata, Aayakar Bhawan Kolkata-700012. Poorva, 110, Shantipally, Kolkata-700107. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci 7333 K (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

reassess’ to completed assessment proceedings. vi.Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record the AO. vii.Completed assessment

DAULAL KOTHARI,KOLKATA vs. DCIT, CIR-44, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1065/Kol/2016 Assessment Year : 2010-11 Daulal Kothari -Vs- Dcit, Circle-44, Kolkata [Pan: Aiypk 2894 C] (Appellant) (Respondent)

154 of the Act, in the facts and circumstances of the case. 2 Daulal Kothari A.Yr.2010-11 3. The brief facts of this issue is that the assessee is an individual and had filed his return of income in the assessment year 2010-11 on 30.07.2010 declaring total income of Rs. 16,54,428/-. The assessment was originally completed

SREI INFRASTRUCTURE FINANCE LIMITED,KOLKATA vs. ACIT,CIR-11(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Dr. Manish Boradi.T.A. No.1157/Kol/2023 Assessment Year: 2017-18 Srei Infrastructure Finance Ltd. ………. Appellant (Pan: Aaacs1425L) Vs. Acit, Circle-11(1), Kolkata ……. Respondent Appearances By: Shri S. K. Tulsiyan, Advocate & Sm. Lata Goyal, Aca Appeared For Appellant Shri S. Datta, Cit, Dr Appeared For Respondent . Date Of Hearing : 07.02.2024 Date Of Pronouncing The Order : 29.04.2024 Order Per Manish Borad: This Appeal Filed By The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2017-18 Is Directed Against The Order Passed U/S 250 Of The Income Tax Act, 1961 In Short The “Act”) By Ld. Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [In Short Ld. “Cit(A)”] Dated 05.09.2023 Arising Out Of The Assessment Order U/S. 154 R,W,S, 143(3) Of The Act By Acit, Circle-11(1), Kolkata Dated 12.07.2022. 2. Grounds Of Appeal Raised By The Assessee Are Reproduced As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Commissioner Of Income Tax (Appeal), [Here- In- After Referred To As Ld. Cit(A)] Was Not Justified & Grossly Erred In Not Granting The Interest U/S. 244A Of The Income Tax Act, 1961 ('The Act').

reassessment, the assessee shall be entitled to receive, in addition to the interest payable under sub-section (1), an additional interest on such amount of refund calculated at the rate of three per cent per annum, for the period beginning from the date following the date of expiry of the time allowed under sub-section (5) of section

LEBONG INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE-11, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

3) The provisions of sub-section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this Act:] [Provided that nothing contained in this section shall empower the Assessing Officer either to reassess under section

C.M. RAJGARHIA (P) LTD,KOLKATA vs. PCIT-3, KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

reassess the income of an assessee on a debatable issue. Therefore, it cannot be said that there was any error occurred in the rectification order passed by the ld. Assessing Officer under section 154 of the Income Tax Act. 5.2. Moreover, the assessee had also demonstrated during the assessment proceedings that the provisions of section 115QA were not applicable

SHRI JNANENDRA NATH BANERJEE,KOLKATA vs. ITO, WD-24(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

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

154 of the Act in the facts and circumstances of the case. 3. The brief facts of this issue is that the assessee sold his residential flats in Delhi and Kolkata and made reinvestment in another property and also invested in section 54EC Bonds and claimed exemption u/s 54 and 54EC of the Act. The return of income

DCIT, CIR-10, KOLKATA, KOLKATA vs. M/S ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

3. In the result, the assessee’s appeal is allowed while the revenue’s appeal is dismissed.” We understand from the aforesaid discussion that the issue of notice for rectification and passing of orders under section 154 to rectify the intimation and to make additions and disallowances to the income indicated therein has been agitated by taxpayers before Courts

ACIT, CIR-10, KOLKATA, KOLKATA vs. M/S ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

3. In the result, the assessee’s appeal is allowed while the revenue’s appeal is dismissed.” We understand from the aforesaid discussion that the issue of notice for rectification and passing of orders under section 154 to rectify the intimation and to make additions and disallowances to the income indicated therein has been agitated by taxpayers before Courts

ICI INDIA LTD.,KOLKATA vs. DCIT, CIR-10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

3. In the result, the assessee’s appeal is allowed while the revenue’s appeal is dismissed.” We understand from the aforesaid discussion that the issue of notice for rectification and passing of orders under section 154 to rectify the intimation and to make additions and disallowances to the income indicated therein has been agitated by taxpayers before Courts

M/S. SHREE HANUMAN SUGAR & INDUSTRIES LTD.,KOLKATA vs. ACIT, CENTRAL CIRCLE-XI,KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: : Shri M.Balaganesh & Shri S.S. Viswanethra Ravi

section 115JA. Therefore, the AO cannot modify such order u/s. 154 of the Act. 13. In reply, the Ld. DR submits the limitation is saved to rectify the order and the revenue has an opportunity to rectify the order u/s. 154 of the Act. The AO did not take into consideration the computation u/s. 115JA from the first instance onwards