A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

50C on the said amount and reduced therefrom the cost of acquisition as claimed by the assessee and thereby made addition of Rs Rs. 76,04,62,428/-as capital gains. On appeal, the Ld CIT(A) held that the transfer of property by giving development rights took place in assessment year 2009-10. The CIT(A) also held that

SAMIT RAY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect to such abated assessments. It does not provide that all completed/unabated assessments shall abate. If the submission on behalf

MALIKA ROY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect to such abated assessments. It does not provide that all completed/unabated assessments shall abate. If the submission on behalf

ARATI RAY,KOLKATA vs. DCIT, CEN. CIR. -3(4), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect to such abated assessments. It does not provide that all completed/unabated assessments shall abate. If the submission on behalf

POLLY SAHA,KOLKATA vs. ITO WARD 45(3), KOLKATA

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2011-12

reassessment proceedings under section 147 of the Act. Accordingly, a notice under section 148 of the Act was issued to the assessee. Pursuant to the issuance of the notice under section 148, the Ld. AO passed an assessment order under section 143(3) read with section 147 of the Act on 20.03.2015 for A.Y. 2011-12. In this order

ANIL KUMAR PAIK ,KOLKATA vs. ACIT, CIR-8(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 01/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld. Commissioner, Of Income Tax (Appeals)- N.F.A.C. Acted Unlawfully In Impliedly Sustaining; The Purported Addition Of Rs. 1,67.44,907/- Made The Ld. Assistant Commissioner, Of Income Tax, Circle 8(1) Kolkata By Invoking The Mischief U/S. 43Ca Of The Income Tax Act, 1961 Without Satisfying The Parameters Thereof & The Adverse Conclusion Reached On That Behalf In Violation Of The Statutory Prescription Is Completely Unfounded, Unjustified & Untenable In Law. 2. For That The Specious Approach Of The Ld. Commissioner Of Income Tax (Appeals)-N.F.A,C. Of Misreading Evidence, Considering Improper Facts

50C of the Act have no applicability and Section 43CA of the Act has been 8 I.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik inserted w.e.f. 01/04/2014 and, therefore, the same are not applicable on the transactions in question during the year. Similar issue came for our consideration in assessee’s own case for Assessment Year

ANIL KUMAR PAIK,KOLKATA vs. ACIT, KOLKATA

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

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 468/Kol/2023 Assessment Year: 2016-17 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 21/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2016-17. 2. The Assessee Has Raised The Following Grounds Of Appeal:-

reassessed the sale of each of the twelve flats. This basis of the nearest market rate is not found in his order. Therefore, on this basis itself the assessment is bad. In any case, Mr. Sharma, the learned Counsel for the Revenue submits that the market rate is the stamp duty rate of registration. Therefore, the stamp duty rate

ASHA VIJAY,KOLKATA vs. ITO, WARD-28(2),KOL, KOLKATA

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

Bench: Sri Rajpal Yadav & Sri Rajesh Kumar

Section 50C of the Act was not in existence. Consequently, the Assessing Officer was not justified in making the reassessment

EMPORIS PROPERTIES PVT. LTD.,KOLKATA vs. PCIT-2, KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.299/Kol/2022 Assessment Year: 2014-15 Emporis Properties Pvt. Ltd..................................…..............................……Appellant 5Th Floor, 16A, Brabourne Road, Dalhousie, Kolkata-1. [Pan: Aadce0793Q] Vs. Pcit, Kolkata-2...................….…..…...................……........……...…..…..Respondent Appearances By: Shri S.K. Tulsiyan, Advocate & Mita Rizvi, Appeared On Behalf Of The Appellant. Shri Biswanath Das, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing :September 08, 2022 Date Of Pronouncing The Order :September 22, 2022 आदेश / Order संजय गग", "या"यकसद"य"वारा/ Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 26.03.2022 Of The Principal Commissioner Of Income Tax (Hereinafter Referred To As The ‘Pcit’) Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

section 43CA of the Income Tax Act, 1961. 3. That, on the facts and in the circumstances of the case, the Ld. Pr. C.I.T. erred in law in assuming jurisdiction u/s.263 of the Act and setting aside the reassessment order u/s.143(3)/147 of the Act for fresh assessment, totally ignoring the fact that even if the impugned property which

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD-8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale 7 I.T.A. Nos. 606,607 & 608/Kol/2022 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s Ajanta Merchants Pvt. Ltd. consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale 7 I.T.A. Nos. 606,607 & 608/Kol/2022 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s Ajanta Merchants Pvt. Ltd. consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD-8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale 7 I.T.A. Nos. 606,607 & 608/Kol/2022 Assessment Years: 2009-10, 2010-11 & 2011-12 M/s Ajanta Merchants Pvt. Ltd. consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered

MURARI MOHAN MONI,PURULIA vs. ITO, WARD 3(3), PURULIA

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm Murari Mohan Moni Income Tax Officer, Ward No.13, Munsefdanga Ward 3(3), Purulia, Raghunathpur, Vs. West Bengal-713304 West Bengal-723133 (Appellant) (Respondent) Pan No. Adqpm3685E Assessee By : Shri Sheikh Muhammad Asif Ali, Ar Revenue By : Shri Gautam Patra, Dr Date Of Hearing: 20.08.2024 Date Of Pronouncement: 29.08.2024

reassessment proceedings making two additions firstly, for unexplained cash deposit of ₹19,64,500/- and secondly, addition for violation of section 50C

BHAGWANT MERCHANTS PRIVATE LIMITED ,KOLKATA vs. I.T.O.,WARD-13(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy]

reassessment proceedings were not valid and were liable to the quashed. 7.4. In the case of CIT vs Atul Jain reported in 299 ITR 383 it has been held as follows: "Held dismissing the appeals, that the only information was that the assessee had taken a bogus entry of capital gains by paying cash along with some premium for taking

DEVENDRA KUMAR SHROFF,KOLKATA vs. ITO, WD-7(2), KOLKATA, KOLKATA

Bench: "ीजे. सुधाकररे"डी, लेखासद"यएवं/And"ीऐ. ट". वक","यायीकसद"य) [Before Shri J. Sudhakar Reddy, Am &Shri A. T. Varkey, Jm]

reassessment order dated 18.12.2013 is bad in law and is liable to be quashed in the absence of recording of “reasons to belief”.” 3. Since we note that the aforesaid additional grounds are purely legal in nature, we admit the same and had directed the department to produce the assessment records of the assessee to adjudicate the legal issue. Today

DAULAL KOTHARI,KOLKATA vs. DCIT, CIR-44, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1065/Kol/2016 Assessment Year : 2010-11 Daulal Kothari -Vs- Dcit, Circle-44, Kolkata [Pan: Aiypk 2894 C] (Appellant) (Respondent)

section 50C of the Act) was Rs. 17,28,634/- (10,22,519 + 7,06,115). On objection of the adoption of this value by the assessee, the ld. AO referred the matter to Assistant Valuation Officer, Income Tax Department, Jodhpur who valued the property and accordingly, the long term capital gain of the subject mentioned properties was worked

MRS. KABITA DAS (SAHA),KOLKATA vs. CIT, KOKATA - XVII, KOLKATA

In the result, the appeal of the assessee is dismissed

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

reassessment proceedings. It appears to me that the matter was very serious and referred to senior colleagues. 9. My colleagues advised that the direction Issued by the Learned C.I.T. Kolkata-XVII in his order passed U/s.263 were against the law, that there is no provision for assessment of any income of the purchaser of immovable property corresponding to Section 50C

SHRI JNANENDRA NATH BANERJEE,KOLKATA vs. ITO, WD-24(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

section 54EC Bonds and claimed exemption u/s 54 and 54EC of the Act. The return of income for the Asst Year 2005-06 was filed on 27.7.2005 which was processed u/s 143(1) of the Act and later the assessment was reopened and reassessment u/s 143(3)/147 of the Act was completed on 30.4.2009 . The capital gain on sale