HARSH COMTRADE PVT LTD,SURAT vs. INCOME TAX OFFICER, WARD 5(4), KOLKATA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri George Mathanआयकर अपील सं/Ita No.225/Kol/2024 (नििाारण वर्ा / Assessment Year :2012-2013) Harsh Comtrade Private Limited, Vs Ito, Ward-5(4), Kolkata 1/A, Stuti Apartment, Near Ashok Panhouse, City Light, Surat, Gujarat Pan No. :Aabcg 8847 C (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) : Shri Mehul Shah, Ar नििााररती की ओर से /Assessee By राजस्व की ओर से /Revenue By : Shri S.B. Chakraborthy, Addl. Cit-Sr.Dr सुनवाई की तारीख / Date Of Hearing : 01/07/2025 घोषणा की तारीख/Date Of Pronouncement : 01/07/2025 आदेश / O R D E R This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 28.12.2023, Passed In Din & Order No.Itba/Nfac/S/250/2023-24/1059161646(1) For The Assessment Year 2012-2013. 2. Shri Mehul Shah, Ld. Ar Appeared On Behalf Of The Assessee & Shri S.B.Chakraborthy, Ld.Sr. Dr Appeared On Behalf Of The Revenue. 3. At The Time Of Hearing, Ld. Ar Submitted That He Has Filed Written Submissions Before The Tribunal Which Has Been Placed In The Paper Book At Pages 90 To 104 Which Reads As Follows :- Before Income Tax Appellate Tribunal, Kolkata - 'Smc' Bench In The Case Of Harsh Comtrade Pvt. Ltd Sub: Written Submission For A.Y. 2012-13 Ref: Assessee'S Appeal No. 225/Kol/2024 Date Of Hearing: 21.08.2024 May It Please To Your Honour 1. In This Case, The Case Is Re-Opened On The Basis Of Reasons For Reopening Recorded On 23.03.2018. The Same Is Reproduced

reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148." 18. In such scenario, the courts have held that

DCIT, CC-1(4), KOLKATA, KOLKATA vs. KKALPANA INDUSTRIES INDIA LIMITED, KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri George Mathan & Shri Sanjay Awasthiआयकर अपील सं/Ita No.452/Kol/2025 (निर्धारण वर्ा / Assessment Year : 2016-2017) Dcit, Cc-1(4), Kolkata Vs Kkalpana Industries India Ltd. 2B, Pretoria Street, Middleton Row, Kolkata-700071 Pan No. :Aabck 2239 D (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate & Ms. Puja Somani, Ca रधजस्व की ओर से /Revenue By : Shri P.N.Barnwal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 24/06/2025 घोषणा की तारीख/Date Of Pronouncement : 25/06/2025 आदेश / O R D E R Per George Mathan, Jm : This Is An Appeal Filed By The Revenue Against The Order Dated 13.11.2024, Passed By The Ld. Cit(A), Kolkata-20, Passed In Din & Order No.Itba/Apl/S/250/2024-25/1070338584(1), For The Assessment Year 2016-2017. 2. Shri P.N.Barnwal, Ld.Cit-Dr Appeared On Behalf Of The Revenue & Shri S.K.Tulsiyan, Advocate With Ms. Puja Somani, Ca, Appeared On Behalf Of The Assessee. 3. A Perusal Of The Appeal Record, We Find That The Appeal Of The Revenue Has Been Filed Belatedly By 28 Days. In This Regard, The Revenue Has Filed An Application For Condonation Of Delay Stating Sufficient Reasons Which Are Plausible & Not Found To Be False. Thus, The Delay Of 28 Days In Filing The Appeal Is Condoned & Appeal Is Admitted For Hearing.

reassessment proceedings has been laid down is reproduced below: "When a notice under section 148 of the Income-tax Act, 1961, is issued, the proper course of action is to file the return and, if he so desires, to seek reasons for issuing the notices. The assessing officer is bound to furnish reasons within a reasonable time. On receipt

KIPPY ENGINEERING PVT. LTD.,KOLKATA vs. ACIT, CC - 3(4), KOLKATA

In the result, the appeal of the assessee is allowed

reassessment\nproceedings were wrongly initiated vide notice dated 14.03.2019 u/s. 148 and that the\nmandatory approval of the sanctioning authority i.e. the principal commissioner of\nincome tax as required to be obtained u/s. 151 of the act is invalid.\n(b) That the sanctioning authority i.e. the principal commissioner of income tax has not\napplied his mind while granting

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. RAJSHRI IRON INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shrisonjoy Sarma, Jm

reassessment proceedings and after obtaining the reply/explanation of the assessee made an addition of Rs. 21,27,60,640/-(by typo error mentioned as ₹22,27,60,640/-) as unexplained expenditure u/s 69C of the Act in the assessment framed u/s 147 of the Act dated 27.03.2023. 06. In the appellate proceedings ld. CIT(A) partly deleted the addition after

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. RAJSHRI IRON INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shrisonjoy Sarma, Jm

reassessment proceedings and after obtaining the reply/explanation of the assessee made an addition of Rs. 21,27,60,640/-(by typo error mentioned as ₹22,27,60,640/-) as unexplained expenditure u/s 69C of the Act in the assessment framed u/s 147 of the Act dated 27.03.2023. 06. In the appellate proceedings ld. CIT(A) partly deleted the addition after

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

195/-.\n4. In the appellate proceeding, the assessee did challenge the validity of assessment\nproceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid\napproval u/s. 151 of the Act was not there and was raised for the first time before us.\n5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

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

195/-.\n4.\nIn the appellate proceeding, the assessee did challenge the validity of assessment\nproceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid\napproval u/s. 151 of the Act was not there and was raised for the first time before us.\n5.\nThe Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

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

reassessment proceedings on the issue which has been referred to by the ld. CIT in the impugned order and since the ld. Assessing Officer has taken a permissible view in law, therefore, ld. CIT erred in assuming jurisdiction under section 263 of the Act. The assesese placed reliance on plethora of judgments and the same are referred below:- S.No. Title

NARAYAN SUPPLIERS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 6(3), KOLKATA, KOLKATA

In the result, appeal of the assessee is dismissed

reassessment was held to be bad in law.\n21.\nIn case of Deepraj Hospital (P) Ltd. v. ITO, (2018) 65 ITR 663\n(Agra) (Trib.), the Tribunal held: If the re-opening is based on\ninformation received from the investigation dept, the reasons\nmust show that the Assessing Officer independently applied his\nmind to the information and formed

RUNGTA IRRIGATION LIMITED,DELHI vs. CENTRAL CIRCLE 3(1)/KOLKATA, 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]

195/-. 4. In the appellate proceeding, the assessee did challenge the validity of assessment proceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid approval u/s. 151 of the Act was not there and was raised for the first time before us. 5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

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]

195/-. 4. In the appellate proceeding, the assessee did challenge the validity of assessment proceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid approval u/s. 151 of the Act was not there and was raised for the first time before us. 5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. RUNGTA IRRIGATION LTD, NEW DELHI

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]

195/-. 4. In the appellate proceeding, the assessee did challenge the validity of assessment proceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid approval u/s. 151 of the Act was not there and was raised for the first time before us. 5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. RUNGTA IRRIGATION LIMITED, NEW DELHI

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]

195/-. 4. In the appellate proceeding, the assessee did challenge the validity of assessment proceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid approval u/s. 151 of the Act was not there and was raised for the first time before us. 5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(1), KOLKATA, KOLKATA vs. RUNGTA IRRIGATION LTD, NEW DEHI

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]

195/-. 4. In the appellate proceeding, the assessee did challenge the validity of assessment proceeding u/s. 143 on the ground of borrowed satisfaction. However, the issue of invalid approval u/s. 151 of the Act was not there and was raised for the first time before us. 5. The Ld. AR vehemently submitted before us that the proceeding u/s. 147 r.w.s

MOHAMMED GYASUDDIN,KOLKATA vs. ACIT, CIR.-30, KOLKATA

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

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

195/- only. Thus, there has been underassessment to the tune of Rs.5,04,06,069/-. It was observed that the assessee had taken loan/ advances in cash above in excess of Rs.20,000/- and also repaid the loans/ advances in cash above Rs.20,000/-. The details are as under: Sl.No Name of the Party Advance Repayment 1 Mukherjee Telecom

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

195 ITD 46 (Pune - Trib.) [03-02-2022] iii) Sree Sree Ramkrishna Samity vs. Deputy Commissioner of Income-tax, Cir-2, Siliguri [2015] 64 taxmann.com 330 (Kolkata - Trib.)/[2015] 44 ITR(T) 678 (Kolkata - Trib.)/[2016] 156 ITD 646 (Kolkata - Trib.)[09-10-2015] Page 9 of 13 I.T.A. No.: 1652/KOL/2024 Assessment Year: 2016-17 Jermel's Accademy. iv) Annadaneshwara

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

195 (SC) dated 11-01-2008 wherein the Hon'ble Court in the context amended Section 68 of the Act has held that where the Revenue urges that amount of share application money has been received from bogus share applicants then it is for the income tax officer to proceed by reopening the assessments of such shareholders and assessing them

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. ITO, WARD 5(2) (NOW DCIT, CENT.CIR. 4(2)), KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

195 (SC) dated 11-01-2008 wherein the Hon'ble Court in the context amended Section 68 of the Act has held that where the Revenue urges that amount of share application money has been received from bogus share applicants then it is for the income tax officer to proceed by reopening the assessments of such shareholders and assessing them