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

SHRI NITYANAND PANDEY,HOOGHLY vs. I.T.O., WARD - 23(1),, HOOGHLY

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

250(6) of the Act obliges the CIT(A) to dispose of an appeal in writing after stating the points for determination and then render a decision on each of the points which arise for consideration with reasons in support. Section 251(1)(a) and (b) of the Act provide that while disposing of appeal the CIT(A) would have

DIAMOND TRADECOM PRIVATE LTD.,MAHARASHTRA vs. NATIONAL FACELESS APPEAL CENTRE (NFAC), DELHI

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

Bench: Shri George Mathan & Shri Rakesh Mishra

250(6) of the Act obliges the CIT(A) to dispose of an appeal in writing after stating the points for determination and then render a decision on each of the points which arise for consideration with reasons in support. Section 251(1)(a) and (b) of the Act provide that while disposing of appeal the CIT(A) would have

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)

250 is bad in law as well as on facts of the case. 2. That the Ld. CIT(A), NFAC, erred in law as well as in facts of the case by not providing the appellant with reasonable opportunity of hearing. 3. That the Ld. CIT(A), NFAC, erred in law as well as in facts of the case

THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for AY 2020-21 dated 02.07.2024, I.T.A. No.: 1711/KOL/2024 Assessment Year: 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited. which has been passed against the penalty order u/s 270A of the Act, dated 29.03.2023. 2. The Revenue is in appeal before the Tribunal raising

PROVASH ADHIKARI,KOLKATA vs. ITO, WARD 46(4), KOLKATA

In the result, the appeal is allowed for statistical purposes

Bench: Sonjoy Sarma & Sri Rakesh Mishra

6. For that the Ld. CIT(A) erred in confirming the addition of Rs. 93,57,008/- made by the A.O. on account of alleged undisclosed income u/s 68. 7. The appellant craves leave to add further grounds of appeal or alter the grounds at the time of hearing. 2. The brief facts of the case of the assessee

DCIT, CC-3(3), KOLKATA, KOLKATA vs. AMICUS REAL ESTATE PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: SHRI SANJAY GARG, HON’BLE (Judicial Member), DR. MANISH BORAD, HON’BLE (Accountant Member)

250 of the Income Tax Act, 1961 (hereinafter ‘the Act’) for Assessment Year 2010-11. 2. The revenue has raised the following grounds of appeal:- “(i). That on the facts and in the circumstances of the case, the Ld. CIT(A) erred to hold that no addition can be made in respect of assessments which have become final

M/S. VICTOR COMMERCIAL CO. LTD.,KOLKATA vs. ACIT, CC - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2009-10 & Assessment Year: 2010-11 M/S Victor Commercial Co. Acit, Central Circle-1(2), Ltd., Kolkata, C/O. M/S Salarpuria Jajodia & Aayakar Bhawan Poorva, Vs Co., 7, C.R., Avenue, 3Rd Floor, 110, Shantipally, E.M. Kolkata - 700072 Bypass, Kolkata - 700017 (Pan: Aabcv0011C) (Appellant) (Respondent)

250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) for AYs 2009-10 and 2010-11, dated 30.04.2024 respectively. As both the appeals involve identical issues, the same were heard together and are being disposed of by a common order for the sake of brevity and convenience. M/s Victor Commercial

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

In the result, appeal of the assessee is dismissed

6).\nHon'ble Supreme Court has laid down the test in the CIT v\nKelvinator India Ltd. 320 ITR 561, whether the A.O had tangible\nmaterial to come to the conclusion that there is an escapement of\nincome from assessment. The Supreme Court has held that the\n'reason to believe' that any income chargeable to tax has escaped\nassessment

PRICEWATERHOUSE COOPERS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 1(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

section 250(6) of the Act casts a duty on the Ld. CIT(A) to pass an order in appeal which should state the points for determination and the decision as well as the reason for arriving at such decision. In the present case before us, the Ld. CIT(A) has not mentioned the reasons after examining the records while

ANCHITA PROPERTIES PVT. LTD. ,KOLKATA vs. ITO, WARD-12(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. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

250 of the Income Tax Act against an assessment order dated 28.09.2021 passed under section 147 of the Income Tax Act. 1.1. The ITA No. 1067/KOL/2024 emanates from the order of ld. Principal Commissioner of Income Tax, Kolkata-2 dated 30th March, 2024 passed under section 263 of the Income Tax Act. In this revisional order, ld. PCIT has observed

ANCHITA PROPERTIES PVT. LTD.,KOLKATA vs. P.C.I.T., KOLKATA - 2, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

250 of the Income Tax Act against an assessment order dated 28.09.2021 passed under section 147 of the Income Tax Act. 1.1. The ITA No. 1067/KOL/2024 emanates from the order of ld. Principal Commissioner of Income Tax, Kolkata-2 dated 30th March, 2024 passed under section 263 of the Income Tax Act. In this revisional order, ld. PCIT has observed

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:

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

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:

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

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.

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

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

250 is bad in law as well as on facts of the case. 2. The Hon'ble Commissioner of Income Tax (Appeals) erred both in law and on facts by setting aside the assessment to the Learned Assessing Officer for fresh assessment under the powers of Section 251(1)(a) of the Income Tax Act, 1961, in respect

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

250 is bad in law as well as on facts of the case. 2. The Hon'ble Commissioner of Income Tax (Appeals) erred both in law and on facts by setting aside the assessment to the Learned Assessing Officer for fresh assessment under the powers of Section 251(1)(a) of the Income Tax Act, 1961, in respect

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.

250 of the Income Tax Act, 1961 (hereafter “the Act”) dated 15.07.2022, passed by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereafter “the Ld. CIT(A)”]. 1.1 In this case, the Ld. AO has made two additions of Rs. 6,89,58,168/- (u/s 69A of the Act) and addition