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

17. As stated above, it is the character and nature of income which determines its taxability or exemption from taxability. It is needless to say that the provisions relating to exemption and deduction need to be strictly construed and no liberal interpretation or intendment can be inferred in such provisions. What was clearly held to be not exempt

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

17. As stated above, it is the character and nature of income which determines its taxability or exemption from taxability. It is needless to say that the provisions relating to exemption and deduction need to be strictly construed and no liberal interpretation or intendment can be inferred in such provisions. What was clearly held to be not exempt

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

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

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

reassessment has been framed by the ld AO u/s 143(3) of the Act. We also hold that shelter u/s 292BB of the Act cannot be taken by the revenue for jurisdictional issue. In the instant case, admittedly no notice u/s 143(2) of the Act was served on the assessee after the filing of the return on 11.3.2005. Hence

ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

reassessment has been framed by the ld AO u/s 143(3) of the Act. We also hold that shelter u/s 292BB of the Act cannot be taken by the revenue for jurisdictional issue. In the instant case, admittedly no notice u/s 143(2) of the Act was served on the assessee after the filing of the return on 11.3.2005. Hence

M/S. WEEDO VENTURES PVT. LTD. (EARLIER KNOWN AS M/S. EQUAL PROJECTS PVT. LTD.),KOLKATA vs. I.T. O., WARD, 9(2), KOLKATA

In the result, appeal of the assessee

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2012-13 M/S. Weedo Ventures Pvt. Ltd......……………………..................................……………..…….............Appellant [Earlier Known As M/S. Equal Projects Pvt. Ltd.] Property No. 11 Block-A, Maharana Pratap Enclave Pitampura Delhi - 110034 [Pan : Aacce 4580 C]

reassessment. In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon (supra), the view expressed

M/S. WEEDO VENTURES PVT. LTD. (EARLIER KNOWN AS M/S. EQUAL PROJECTS PVT. LTD.),KOLKATA vs. CIT(A)-3, KOLKATA

In the result, appeal of the assessee

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2012-13 M/S. Weedo Ventures Pvt. Ltd......……………………..................................……………..…….............Appellant [Earlier Known As M/S. Equal Projects Pvt. Ltd.] Property No. 11 Block-A, Maharana Pratap Enclave Pitampura Delhi - 110034 [Pan : Aacce 4580 C]

reassessment. In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon In addition, it is held that in the light of the Supreme Court dictum in Hotel Blue Moon (supra), the view expressed

GOAL ORIENTED TRADE LINK PVT. LTD.,,KOLKATA vs. ITO, WARD 2(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

reassessment. Section 292 BB of the Act cannot obviate the requirement of complying with a jurisdictional condition. For the Assessing Officer to make an order of assessment under Section 143 (3) of the Act, it is necessary to issue a notice under Section 143 (2) of the Act and in the absence of a notice under Section 143 (2

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]

reassessment or computation were substituted. The time limits prescribed there-under are as follows: ITA No.2652/Kol/2019 & CO No. 15/Kol/2020 PCM Strescon Overseas Ventures Ltd., AY 2012-13 − Clause (1) of Section 153 provides that the time limit for completion of assessment under Section 143(3)/144 of the Act is twenty-one months from the end of the relevant assessment

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]

reassessment or computation were substituted. The time limits prescribed there-under are as follows: ITA No.2652/Kol/2019 & CO No. 15/Kol/2020 PCM Strescon Overseas Ventures Ltd., AY 2012-13 − Clause (1) of Section 153 provides that the time limit for completion of assessment under Section 143(3)/144 of the Act is twenty-one months from the end of the relevant assessment

SARDA MINES PVT. LIMITED,KOLKATA vs. DCIT, CIRCLE-05(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd...............................………………………………………………Appellant 6Th Floor, Circular Court, 8, Ajc Bose Road, Kolkata – 700017. [Pan : Aahcs 2419 R] D.C.I.T., Cir 5(2) Kolkata………………………………………………......................Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 69 Appearances By: Shri A.K. Gupta, Fca Appearing On Behalf Of The Assessee. Md. Usman, Cit Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 21, 2017 Date Of Pronouncing The Order : December 14, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Principal Cit – 2, Kolkata Dated 28.03.2017 Passed Under Section 263 Of The Income Tax Act, 1961 & The Grounds Raised By The Assessee Therein Read As Under: “1. For That The Order Passed Under Section 263 Of The Income Tax Act, 1961 (In Short ‘The Act’) By The Principal Commissioner Of Income Tax -2, Kolkata (In Short ‘Cit’) Dated 28.03.2017 Is Without Jurisdiction & Illegal As None Of The Condition Precedent For Exercise Of The Power Under Section 263 Of The Act Exists And/Or Has Been Satisfied & As Such The Said Order Is Erroneous & Without Jurisdiction & Liable To Be Cancelled. 2. For That The Order Passed By The Assessing Officer Was Not In Any Way Erroneous Or Prejudicial To The Interest Of Revenue & As Such The Cit Would Not Exercise Any Power Under Section 263 Of The Act. The Cit Erred In Holding That The Order Of Assessment Is Erroneous & Prejudicial To The Interest Of Revenue.

2) has to be reckoned from the date of the original assessment passed under section 143(3) and not from the date of reassessment passed under section 143(3) read with section 147 of the Act, as the issues on which assessment was sought to be revised were not the subject matter of reassessment made under section 143(3) read

DIPTI MEHTA ,KOLKATA vs. ITO, WARD - 43(2), , KOLKATA

In the result, the appeal of the assessee is allowed

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

2) of 2009. However, Explanation 3 does not and cannot override the necessity of fulfilling the conditions set out in the substantive part of section 147. An Explanation to a statutory provision is intended to explain its contents and cannot be construed to override it or render the substance and core nugatory. Section 147 has this effect that the Assessing

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

2) of section 143 has expired, or (c) assessment or reassessment, if any, has been made, before the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person, such Assessing Officer shall issue the notice and assess or reassess total income of such other person

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

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 beginning on or before the 1st day of April, 2001.]” ITA No.2652/Kol/2013 A.Y. 2009-10 Lebong Investments Pvt. Ltd. Vs. DCIT, Cir-11, Kol. Page 5 7.1 From

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)

reassessment under Sections 139, 147, 148, 149, 151 & 153. 28. The language of explanation 2 to new Section 148 is akin to Section 153A and Section 153C, Corollary being that after seizing of operation- alperiod of Section 153A to 153D, the cases being dealt thereunder were circumscribed in the scope of newly substituted Section 148." We are in complete agreement

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

17. A perusal of section 4(2) would reveal that in respect of income chargeable to tax, income-tax shall be deducted at source or paid in advance, where it is so required under the provisions of the Act. At this stage, it will be relevant to refer to the provisions to section 201of the Act, which read as under

ITO, WARD - 56(4), KOLKATA, KOLKATA vs. M/S. NOPANY & SONS, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

17 56(4) by the order of Commissioner of Income Tax passed u/s 127 of the Act. However for the year under consideration a notice under section 143(2) of the Act was issued by the ITO of ward 3(1) for scrutiny assessment. The assessee challenged the validity of the notice on the ground that the jurisdiction

M/S. NOPANY & SONS,KOLKATA vs. ITO, WARD - 56(4), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

17 56(4) by the order of Commissioner of Income Tax passed u/s 127 of the Act. However for the year under consideration a notice under section 143(2) of the Act was issued by the ITO of ward 3(1) for scrutiny assessment. The assessee challenged the validity of the notice on the ground that the jurisdiction

D.C.I.T., CC-3(4), KOLKATA, KOLKATA vs. M/S. FORUM PROJECT PVT. LTD., KOLKATA

In the result, all the three captioned appeals of the revenue are hereby dismissed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.(Ss)A Nos.108,109&585/Kol/2022 Assessment Years: 2010-11, 2011-12 & 2012-13 Dcit, Cc-3(2), Kolkata..................................................................……Appellant Vs. M/S Forum Projects Pvt. Ltd...........................……........……...…..…..Respondent 4/1, Red Cross Place, Dalhousie, Kolkata-1. [Pan: Aadcs7575E] Appearances By: Shri Subhrajyoti Bhattacharjee, Cit(Dr), Appeared On Behalf Of The Appellant. Shri Soumitra Choudhury, Advocate, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 30, 2023 Date Of Pronouncing The Order : June 05, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Revenue Against The Separate Orders Dated 20.05.2022, 08.06.2022 & 25.11.2014 Respectively Of The Commissioner Of Income Tax (Appeals)-21, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) Contesting Therein The Confirmation Of Additions Made By The Assessing Officer (In Short ‘The A.O) In The Assessments Carried Out U/S 153A Of The Act. Since The Facts & Issues Involved In All These Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. First We Take Revenue’S Appeal In Ita No.108/Kol/2022 For Assessment Year 2010-11. I.T.(Ss)A Nos.108,109&585/Kol/2022 Assessment Years: 2010-11, 2011-12 & 2012-13 M/S Forum Projects Pvt. Ltd.

17,15,00,000/-, which was, as noted by the AO, a group company. The AO, in another place of his order has also called these advances loans. Be that as it may, it is undisputed that during the impugned period, the other conditions applicable for inviting the mischief of section 2(22)e were undisputedly satisfied including the percentage

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]

2) Act of 2009 with retrospective effect from 1st April, 1989. Reference was made to the decision of the Bombay High Court in CIT v. Jet Airways (I) Ltd., [2011] 331 ITR 236/[2010] 195 Taxman 117 in which it has been held as under: "The effect of section 147 as it now stands after the amendment