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

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

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

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

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 |

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

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 |

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

M.A. FINANCIAL SERVICES PVT. LTD.,,KOLKATA vs. ITO, WARD 4(1),, KOLKATA

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

Bench: Shri Pradip Kumar Choubey & Shri Sanjay Awasthiassessment Year: 2015-16 M. A Financial Services Pvt. Ltd.……………………….……….……….……Appellant 2, Lal Bazaar Street, 1St Floor, Kol-700001.. [Pan: Aaccm0481E] Vs. Ito, Ward-4(1), Kolkata…….…………………………….....……...…..…..Respondent Appearances By: Shri Manoj Kataruka, Ar, Appeared On Behalf Of The Appellant. Shri Praveen Kishore, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 09, 2025 Date Of Pronouncing The Order : October 17, 2025 Order Per Pradip Kumar Choubey: This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.05.2025 Of The National Faceless Appeal Centre [‘Cit(A)’] Passed Under Section 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2015–16. 2. Brief Facts Of The Case Of The Assessee Are That The Assessee Filed Its Return Of Income For The A.Y 2015-16 U/S 139 Of The Act On 20.07.2015 Declaring Total Income Of Rs.9,647/-. The Said Return Was Processed U/S 143(1) Of The Act. Later On, Based On Information Received Through Itba Software Under The Head High Risk Transaction Case Notice U/S 148A(B) Of The Act Was Issued & Finally Notice U/S 148 Of The Act Was Issued On 13.07.2022. In Response, The Assessee Filed Return On 02.11.2021 Declaring Total Income Of Rs.9,647. Assessment Was Made Under Sec. 147 M. A Financial Services Pvt. Ltd Read With Section 144B Of The Act On 24.05.2023 Determining Total Income Of Rs.6,55,31,471/- Inter-Alia Making Following Addition:

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

SUMITA ROY CHOWDHURY,KOLKATA vs. I.T.O., WARD - 48(1),, KOLKATA

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

Bench: Shri Pradip Kumar Choubey & Shri Sanjay Awasthiassessment Year: 2015-16 M. A Financial Services Pvt. Ltd.……………………….……….……….……Appellant 2, Lal Bazaar Street, 1St Floor, Kol-700001.. [Pan: Aaccm0481E] Vs. Ito, Ward-4(1), Kolkata…….…………………………….....……...…..…..Respondent Appearances By: Shri Manoj Kataruka, Ar, Appeared On Behalf Of The Appellant. Shri Praveen Kishore, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 09, 2025 Date Of Pronouncing The Order : October 17, 2025 Order Per Pradip Kumar Choubey: This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.05.2025 Of The National Faceless Appeal Centre [‘Cit(A)’] Passed Under Section 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2015–16. 2. Brief Facts Of The Case Of The Assessee Are That The Assessee Filed Its Return Of Income For The A.Y 2015-16 U/S 139 Of The Act On 20.07.2015 Declaring Total Income Of Rs.9,647/-. The Said Return Was Processed U/S 143(1) Of The Act. Later On, Based On Information Received Through Itba Software Under The Head High Risk Transaction Case Notice U/S 148A(B) Of The Act Was Issued & Finally Notice U/S 148 Of The Act Was Issued On 13.07.2022. In Response, The Assessee Filed Return On 02.11.2021 Declaring Total Income Of Rs.9,647. Assessment Was Made Under Sec. 147 M. A Financial Services Pvt. Ltd Read With Section 144B Of The Act On 24.05.2023 Determining Total Income Of Rs.6,55,31,471/- Inter-Alia Making Following Addition:

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

ANUPAMA VINTRADE PRIVATE LIMITED,KOLKATA vs. ITO, WARD 10(2), KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2015-16 Anupama Vintrade Pvt. Ltd..….……………………….……….……….……Appellant 77, 4Th Floor, Room 422, Elliot Road, Kol-700016.. [Pan: Aahca5675R] Vs. Ito, Ward-10(2), Kolkata….……………………………….....……...…..…..Respondent Appearances By: Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Appellant. Shri Manas Mondal, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 16, 2025 Date Of Pronouncing The Order : October 27, 2025 Order Per Pradip Kumar Choubey: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 08.03.2025 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’). The Appeal Has Been Filed By The Assessee With A Delay Of 14 Days. 2. The Assessee Has Filed An Affidavit For Condonation Of The Delay. After Considering The Reasons Cited In The Affidavit For Condonation Of Delay, We Find That The Reasons Are Valid & Consequently, The Delay In Filing The Appeal Is Hereby Condoned & We Proceed To Dispose Of The Appeal On Merits.

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

GUINESS FINANCE & LEASING PVT. LTD.,,KOLKATA vs. ITO, WARD 6(2),, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2015-16 Guiness Finance & Leasing Pvt. Ltd..….……………….……….……….……Appellant 3Rd Floor, Baid Property, 10, Canning Street, Burra Bazar, Kol-1.. [Pan: Aabck1388B] Vs. Ito, Ward-6(2), Kolkata….……………………………….....……...…..…..Respondent Appearances By: Shri Miraj D Shah, Ar, Appeared On Behalf Of The Appellant. Shri Sandeep Lakra, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 30, 2025 Date Of Pronouncing The Order : November 13, 2025 Order Per Pradip Kumar Choubey: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 16.05.2025 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’). Brief Facts Of The Case Of The Assessee Are That The Assessee 2. Company Filed Its Return Of Income For The A.Y 2015-16 On 30.09.2015 Declaring Total Income Of Rs.Nil. The Said Return Was Selected For Scrutiny On The Reason That The Assessee Is The Beneficiary Of Credit Of Rs.1,28,38,232/- From Penny Stock Company M/S Steel Exchange Ltd. Notices U/S 143(2) & 142(1) Of The Act Were Issued & Thereafter, The Case Of The Assessee Reopened By Issuing Notice U/S 148 Of The Act On 14.07.2022. The Assessing Officer Passed An Ex Parte Order U/S 147 Guiness Finance & Leasing Pvt. Ltd R.W.S. 144B Of The Act On 29.05.2023 Adding Rs.1,28,38,391/- To The Total Income Of The Assessee.

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

K.Y.S. SPONGE IRON PVT. LTD.,KOLKATA vs. I.T.O., WARD - 3(1),, KOLKATA

Appeal of the assessee is allowed

Bench: Any Other Issue.

reassessment notice. 80. In Ashish Agarwal (supra), this Court directed that Section 148 notices which were challenged before various High Courts "shall be deemed to have been issued under section 148-A of the Income-tax Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of Section

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. Relevant portion of said order reads as under: 7. If the assessing office fails to obey the directions issued by the Court, stringent action should be taken and it is not clear as to whether the Principal Commissioner of Income-tax is aware that in his field formations, such officers are functioning. These are all sufficient grounds

BHARGAB ENGINEERING WORKS,HOWRAH vs. PCIT, CENTRAL KOLKATA 2, , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

160/-. The ld. PCIT, Central Circle-2, Kolkata thereafter, examined the record and observed certain discrepancies from the from the assessment record and the order under section 147 r.w.s. 143(3) dated 30.03.2023 was considered as erroneous and prejudicial to the interest of the revenue within the meaning of section 263 of the Act. An opportunity of being heard vide

AJAY TRADING COMPANY,KOLKATA vs. ACIT, CENTRAL CIR. 3(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

section 68 is self-contradictory, unjustified, without jurisdiction and bad in law and hence, the same is liable to be deleted and consequently, the impugned order is liable to be cancelled. 3. First of all, we would like to decide the issues raised in ground no. 1, 4& 5 as stated above. Vide ground no. 1, the assessee has prayed

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

In the result, appeals filed by the assessee on grounds No

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

section 147. " • MJ. Pharmaceuticals Ltd vs. CIT (2008) 297ITR 119 (Bom) (Assessment Year 2003-2004) In this case, the hon'ble High Court observed as under: "Issue regarding addition of amount of deferred taxation for computing book profits u/s. 115JB having been raised by the AO at the time of original assessment u/s. 143(3} and no addition having been

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

In the result, appeals filed by the assessee on grounds No

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

section 147. " • MJ. Pharmaceuticals Ltd vs. CIT (2008) 297ITR 119 (Bom) (Assessment Year 2003-2004) In this case, the hon'ble High Court observed as under: "Issue regarding addition of amount of deferred taxation for computing book profits u/s. 115JB having been raised by the AO at the time of original assessment u/s. 143(3} and no addition having been

MAITHAN CERAMIC LTD.,,KOLKATA vs. ACIT, CIRCLE 7(1),, KOLKATA

160,000 Kolkata-700 001 Pan No: AAACU 3194J Note: 1) 'Chq' indicates 'Cheque' & 'RTGS' indicate 'Real Time Gross Settlement through banking channel 2) We are ubable to comment whether the cheques were account payee or not as necessary evidences in respect thereof are not in possession of assessee. 10. It was the submission that Nidhi Agro

ITO, WARD - 8(2), KOLKATA , KOLKATA vs. M/S. WIZARD ENTERPRISE PVT. LTD., , KOLKATA

The appeals are dismissed

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2011-12

reassessment of assessees claiming deduction under section 10A, it has been decided that the claim of deduction under section 10A, shall not be denied to STP units only on the ground that the approval/registration to such units has been granted by the Directors of Software Technology Parks. However, it has to be ensured that all other conditions specified in section

LIMTEX INFOTECH LTD.,,KOLKATA vs. ITO, WARD - 7(4), KOLKATA , KOLKATA

In the result, the appeals of the revenue are dismissed and cross objections of the assessee are allowed as stated above

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1368/Kol/2017 Assessment Year : 2010-11 Limtex Infotech Ltd. -Vs- Ito, Ward-7(4), Kolkata. [Pan: Aabcl 0088 R] (Appellant) (Respondent)

reassessment of assessees claiming deduction under section 10A, it has been decided that the claim of deduction under section 10A, shall not be denied to STP units only on the ground that the approval/registration to such units has been granted by the Directors of Software Technology Parks. However, it has to be ensured that all other conditions specified in section

I.T.O WD - 7(2),KOLKATA., KOLKATA vs. M/S WIZARD ENTERPRISES PVT LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: : Shri S.S Viswanethra Ravi

reassessment of assessees claiming deduction under section 10A, it has been decided that the claim of deduction under section 10A, shall not be denied to STP units only on the ground that the approval/registration to such units has been granted by the Directors of Software Technology Parks. However, it has to be ensured that all other conditions specified in section

ITO, WARD - 7(2), KOLKATA, KOLKATA vs. M/S. WIZARD ENTERPRISES PVT. LTD., KOLKATA

In the result, the appeals of the revenue are dismissed and cross objections of the assessee are allowed as stated above

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

reassessment of assessees claiming deduction under section 10A, it has been decided that the claim of deduction under section 10A, shall not be denied to STP units only on the ground that the 8 CO No.134/K/2013 CO No.133/K/2013-C-AM M/s. Wizard Enterprise Pvt.Ltd approval/registration to such units has been granted by the Directors of Software Technology Parks. However