DCIT, C.C.XXVII, KOLKATA, KOLKATA vs. M/S. PRATAP PROPERTIES LTD., KOLKATA

Accordingly, the grounds raised by the revenue for all the assessment years are dismissed

Bench: Hon. Sri Mahavir Singh & Hon. Sri M.Balaganesh

42, Chowringhee Road, Ko;-11 . This is same as the transaction recorded in the bunch of loose sheet marked HRV -1 pages 9 and 10. Page 5 & 6 contained cash sheets of this premises as on 12.8.06. Page 5,6 is the cash sheet of the premises as on 12.08.06. An amount of RS. 14.40 lakhs was received in this

AERO DEALCOMM PVT. LTD.,KOLKATA vs. I.T.O.,WARD-4(3), KOLKATA

Bench: Sri J. Sudhakar Reddy, Hon’Ble) Assessment Years: 2009-10 Aereo Dealcomm Pvt. Ltd………….………...........................................................……………….…......Appellant C/O. S.N. Ghosh & Associates, Advocates 2, Garstin Place 2Nd Floor Suite No. 203 Off Hare Street Kolkata West Bengal – 700 001 [Pan : Aacca 5934 G] Vs. Income Tax Officer, Ward-4(3), Kolkata…………………..……………….............….……....…....Respondent Appearances By: Shri Somnath Ghosh, Advocate & Shri M. Jhawar, Fca, Appeared On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 26Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

42,160/- interalia making an addition of Rs.15,31,700/-, as cash credit being, net income earned from Client Code Modification (CCM). Aggrieved the assessee carried the matter in appeal before the ld. First Appellate Authority. The ld. CIT(A) 2 Assessment Years: 2009-10 Aereo Dealcomm Pvt. Ltd. rejected the arguments of the assessee, both against the reopening

SRI BHASKAR GHOSH,KOLKATA vs. DCIT, CC-2(4), KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap & Shri K. Narasimha Chary

42,567/-. The assessee was served on 10-10-2011 notice u/s 153A thereby requiring him to file his return within 30 days. The assessee did not seek extension of time for filing the return but still chose to file the same on 06-03-2012 at total income of Rs.5,B5,612/-. The assessee had earlier made disclosure

M/S VENKATESWAR MEDICARE PVT. LTD.,KOLKATA vs. ITO, WARD 2(1), KOLKATA

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

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

42, a new Section 148A was inserted also with effect from April 1, 2021. By Section 43 of Finance Act 2021, old Section 149 of the Act was substituted with effect from April 1, 2021 without any savings clause. The new Section 149 laid down new time limits for issue of notice under the new Section

M/S VENKATESWAR MEDICARE PVT. LTD.,ITO, WARD-2(1) vs. ITO, WARD-2(1), KOLKATA

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

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

42, a new Section 148A was inserted also with effect from April 1, 2021. By Section 43 of Finance Act 2021, old Section 149 of the Act was substituted with effect from April 1, 2021 without any savings clause. The new Section 149 laid down new time limits for issue of notice under the new Section

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

42, the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, was enacted to deal with the situation arising out of the large scale irregularities and malpractices which were noticed in the securities transactions of banks, to ensure the speedy trial of the offenders, to recover properties of the offenders with a view to prevent I.T.A. No.387/Kol/2021

SATTAR ALI,KOLKATA vs. D.C.I.T.,CIRCLE-1, JALPAIGURI

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Vice-(Kz & Hz) & Shri A.T. Varkey

42,470/-. In the assessment completed under section 143(3) vide an order dated 31.08.2016, the total income of the assessee was determined by the Assessing Officer at Rs.35,50,620/- after making the following additions:- 1 Assessment Year: 2014-2015 Sattar Ali (i) Disallowance of sale of Rs 5,90,600/- Maize (ii) Disallowance of sale of Rs.19

DCIT, CIRCLE-4, KOLKATA, KOLKATA vs. M/S TANTIA CONSTRUCTION LTD., KOLKATA

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

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

42,11,947/- 2008-2009 Rs.7,01,40,322/- In the assessments completed under section 153A/143(3) vide orders dated 16.08.2011 for all the five years under consideration, the claim of the assessee for deduction on account of unrealized retention money was disallowed by the Assessing Officer. On appeal, the ld. CIT(Appeals) vide his appellate orders dated 08.10.2012 confirmed

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

42,45,62,079/-, made in respect of export of finished goods by the assessee to its parent company AT&S AG, for further sale to independent customers at the same prices. 4. When this appeal was called out for hearing, the learned counsel for the assessee, Ms. Rituparna Sinha, invited our attention to the order dated

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

42,61,133/- has escaped assessment in terms of section 147 of the I.T Act, 1961. I, therefore, am fully satisfied that there is reason to believe that income to the tune of Rs.42,61,133/- has escaped assessment within the meaning of section 147 of the I.T. Act. This is for your information and necessary compliance. Please note that

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

42,61,133/- has escaped assessment in terms of section 147 of the I.T Act, 1961. I, therefore, am fully satisfied that there is reason to believe that income to the tune of Rs.42,61,133/- has escaped assessment within the meaning of section 147 of the I.T. Act. This is for your information and necessary compliance. Please note that

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. DDIT, INTERNATIONAL TAXATION - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

GIFFORD & PARTNERS LTD.(SINCE MERGED WITH GIFFORD LLP),KOLKATA vs. ADIT (INTERNATIONAL TAXATION) - 1(1), KOLKATA, KOLKATA

In the result ITA No.1489/Kol/11 is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2007-08

Section 198 & 199 of the Act. In view of this legal position, the difference amount of Rs. 37,33,151 was correctly added by the AO to the total income of the assessee.” 42. The AO passed the fair order of assessment dated 21.9.2010 giving effect to the directions of the DRP. Aggrieved by the order of the AO dated

THAKUR PRASAD SAO & SONS (P) LTD,KOLKATA vs. D.C.I.T CC - XVII,KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

42,500/-. The Learned AO levied penalty u/s 271(1)(c ) of the Act on the income disclosed u/s 132(4) of the Act pursuant to the search at 100% of the tax on income disclosed at Rs. 4,99,00,000/- for the Asst Year 2006-07. 3.1. Asst Year 2007-08 The facts and circumstances under which penalty

ACIT, CENTRAL CIRCLE-2(3), KOLKATA, KOLKATA vs. M/S KWALITY LTD., NEW DELHI

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2011-12 Acit, Central Circle- V/S. M/S Kwality Ltd. 2(3), Room No. 403, 4Th F-82, Shivaji Place, Floor, Aayakar Bhawan, Rajouri Garden, New Poorva, 110, Shanti Delhi-100 027 Pally, E.M. Bye-Pas, [Pan No.Aabck 1289 R] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri G. Hangshing, Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri A.K. Tibrewal, Fca ""यथ" क" ओर से/By Respondent 28-02-2018 सुनवाई क" तार"ख/Date Of Hearing 04-04-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-20 Dated 08.11.2016. Penalty Levied By Assessing Officer U/S 271(1)(C) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.09.2015 For Assessment Year 2011-12. The Revenue Has Raised Following Ground:- “(I) That, Under The Facts & Circumstances Of The Case & In View Of The Distinction Of Facts Of The Instant Case (Discussed Elaborately In Respect To He Statement Of Facts) That The Of The Case Law Relied Upon In Deciding The Case In Favour Of The Assessee, The Ld. Cit(A) Erred In Allowing Relief To The Assessee. (Ii) That The Appellant Craves Leave To Add, Alter Or Amend Any Ground Or Grounds Of Appeal Before Or At The Time Of Hearing.”

42,06,434/- originally made by us while fling return of income u/s. 139 of the Act. 2 Claim of payment of leave encashment (-) 76,417/- 3 Claim of payment of gratuity (-)37,869/- Total 40,92,148/- In respect of the aforesaid addition of Rs.42,06,434.00 which was offered by the assessee in the return filed u/s 153A

SRI JAI PRAKASH KHAITAN,KOLKATA vs. DCIT, CENTRAL CIRCLE - XIII, KOLKATA, KOLKATA

In the result, the appeals of the Assessee are allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am]

42,50,000/- Total Rs.1,59,00,000/- A.Y. Returned Returned Additional Addition Total income Income u/s Income u/s income made in the offered by 139 153A shown in the course of the assessee return u/s assessment and income 153A u/s 153A assessed. (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) 2004-05 1

MANOJ KUMAR JAIN & SONS (HUF),KOLKATA vs. ACIT, CC-IV, KOLKATA, KOLKATA

In the result appeals of the Assessee are allowed while the appeals by the revenue are dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

42,50,000/- 1,50,000/- ---- 44,00,000/- 2005-06 --- 94,75,280/- ---- ----- 94,75,280/- 2006-07 5,00,000/- 1,11,10,280/- 1,07,34,815/- ----- 2,23,45,095/- 2007-08 1,88,59,516/- 41,73,880/- 1

ACIT, CC-IV, KOLKATA, KOLKATA vs. MANOJ KR. JAIN & SONS (HUF), KOLKATA

In the result appeals of the Assessee are allowed while the appeals by the revenue are dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

42,50,000/- 1,50,000/- ---- 44,00,000/- 2005-06 --- 94,75,280/- ---- ----- 94,75,280/- 2006-07 5,00,000/- 1,11,10,280/- 1,07,34,815/- ----- 2,23,45,095/- 2007-08 1,88,59,516/- 41,73,880/- 1

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

reassessment u/s147. Similarly, it has also been held in various judicial pronouncements that the reasons recorded for initiating the proceedings u/s147, have to speak for themselves. The reasons must provide a live link to the formation of the belief that income had escaped assessment. The reasons cannot keep the assessee guessing fur the reasons for initiating the proceedings u/s147. These