D.C.I.T., CC - 3(2), KOLKATA, KOLKATA vs. M/S. SALARPURIA PROPERTIES PVT. LTD., KOLKATA

In the result, appeals of the assessee as well as of the revenue are dismissed and cross objection of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2005-06 Salarpuria Properties Pvt. Deputy Commissioner Of Ltd., C/O, M/S. Salarpuria Income-Tax, Circle- 1, Jajodia & Co., 3Rd Floor, 7, Vs. Kolkata. Chittaranjan Avenue, Kolkata-700072. (Pan: Aagcs8492P) (Appellant) (Respondent) & Assessment Year: 2005-06 Deputy Commissioner Of Salarpuria Properties Pvt. Vs. Income-Tax, Central Circle- Ltd., 3(2), Kolkata. (Appellant) (Respondent) & C.O. No.3/Kol/2023 In Ita No.736/Kol/2022 Assessment Year: 2005-06 Salarpuria Properties Pvt. Deputy Commissioner Of Vs. Ltd., Income-Tax, Central Circle- 3(2), Kolkata. (Cross Objector) (Respondent)

reassessment proceeding has been seized during the course of search operation in the case of Shri P. Dayanand Pai and, therefore, the provisions of section 292C

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

BALMUKUND CEMENT & ROOFINGS PVT. LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

DCIT CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND LEASE FIN PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

Section 292C of the\nAct, the presumption is to be drawn in respect of WhatsApp\ntransactions in the hands of the person from whose possession or\ncontrol the books of accounts/ documents, etc. are found. Even the\npresumption u/s 292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

GOPAL & SONS HUF,KOLKATA vs. I.T.O., WARD - 32(1), KOLKATA, KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 292C of the Act, the presumption is to be drawn in respect of WhatsApp transactions in the hands of the person from whose possession or control the books of accounts/ documents, etc. are found. Even the presumption u/s 292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect

RAINBOW VANIJYA PVT LTD.,NEW DELHI vs. ACIT, KOLKATA

In the result, the appeal of the assessee is allowed

292C of the Act creates a rebuttable presumption of ownership only when documents are found in possession of the assessee or its authorized agent. In the present case, the documents were found in the possession of a third party; hence, such presumption is inapplicable. The AO's failure to furnish copies ofseized material relied upon against the assessee amounts

SALARPURIA PROPERTIES PVT. LTD.,KOLKATA vs. DCIT, CC - 3(2), KOLKATA, KOLKATA

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

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

reassessment proceedings are seized documents which have been seized in the course of search from a third person, unrelated to the assessee. Page 4 of 7 I.T.A. No.: 988/KOL/2024 Assessment Year: 2006-07 Salarpuria Properties Pvt. Ltd. 14.1. Further, from the seized documents, one of which is reproduced in the order of Ld. AO, we observe that the documents contain

DCIT, CENTRAL CIRCLE-1(1), KOLKATA, KOLKATA vs. RAJESH KUMAR KEDIA, KOLKATA

In the result, the appeals of the Revenue are dismissed and the COs of the assessee are allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

292C of the Act can be drawn only on such person whose possession or control any books of accounts, other documents, money, bullion, jewellery or other valuable articles or thing are found during the search. It is to be noted that evidentiary value could have been provided to the dumb papers, the statement of the finance brokers should have been

DCIT, CENTRAL CIRCLE-1(1), KOLKATA, KOLKATA vs. RAJESH KUMAR KEDIA, KOLKATA

In the result, the appeals of the Revenue are dismissed and the COs of the assessee are allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

292C of the Act can be drawn only on such person whose possession or control any books of accounts, other documents, money, bullion, jewellery or other valuable articles or thing are found during the search. It is to be noted that evidentiary value could have been provided to the dumb papers, the statement of the finance brokers should have been