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:

section 144B of the Act on 24.05.2023 determining total income of Rs.6,55,31,471/- inter-alia making following addition: 1. Addition on account of unexplained money of Rs.5,18,51,321/-. u/s. 69A of the Act. 2. Disallowance of expenses claimed under the head of salary and wages of Rs.51,15,500/-. 3. Addition on account of unexplained money

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:

section 144B of the Act on 24.05.2023 determining total income of Rs.6,55,31,471/- inter-alia making following addition: 1. Addition on account of unexplained money of Rs.5,18,51,321/-. u/s. 69A of the Act. 2. Disallowance of expenses claimed under the head of salary and wages of Rs.51,15,500/-. 3. Addition on account of unexplained money

ANUPAMA VINTRADE PRIVATE LIMITED,KOLKATA vs. ITO, WARD 10(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 Anupama Vintrade Pvt. Ltd..….……………………….……….……….……Appellant 77, 4Th Floor, Room 422, Elliot Road, Kol-700016.. [Pan: Aahca5675R] Vs. Ito, Ward-10(2), Kolkata….……………………………….....……...…..…..Respondent Appearances By: Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Appellant. Shri Manas Mondal, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 16, 2025 Date Of Pronouncing The Order : October 27, 2025 Order Per Pradip Kumar Choubey: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 08.03.2025 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’). The Appeal Has Been Filed By The Assessee With A Delay Of 14 Days. 2. The Assessee Has Filed An Affidavit For Condonation Of The Delay. After Considering The Reasons Cited In The Affidavit For Condonation Of Delay, We Find That The Reasons Are Valid & Consequently, The Delay In Filing The Appeal Is Hereby Condoned & We Proceed To Dispose Of The Appeal On Merits.

70 (SC). 6. Contrary to that, the ld. DR supports the impugned order. 2 Anupama Vintrade Pvt. Ltd 7. Since, the assessee has raised a legal ground in grounds of appeal before us, we are bound to dispose of the appeal qua the legal ground. The assessee in this appeal challenges the reopening is bad in law as notice

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.

70 (SC). The ld. AR also placed reliance of the decisions of the Coordinate Benches in the case of DCIT vs. Urvashi Sarees Pvt. Ltd. in ITA No.222&1946/Kol/2025 & M/s Kothari Metals Ltd. vs. DCIT in ITA No.2138/Kol/2024. 5. Contrary to that, the ld. DR supports the impugned order. 6. Upon hearing both the submissions of the respective parties

SATISH KUMAR BIRDIKA,KOLKATA vs. I.T.O., WARD - 49(1), KOLKATA, KOLKATA

In the result, the appeal filed by the Assessee is hereby allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

reassessment notice. Section 151 of the new regime does not prescribe a time limit within which a specified authority has to grant sanction. Rather, it links up the time limits with the jurisdiction of the authority to grant sanction. Section 151(ii) of the new regime prescribes a higher level of authority if more than three years have elapsed from

INCOME TAX OFFICER, KOLKATA vs. SHIVRASHI VANIJYA PRIVATE LIMITED, KOLKATA

In the result, the appeal is hereby treated as allowed

70. Since the period of limitation, as provided under Section 149(1) of the Act, had expired prior to issuance of the impugned notice on 30.07.2022. The said is squarely beyond the period of limitation.” 20. The Court in Ram Balram was concerned with a notice for reassessment

ACIT, CIRCLLE-34, KOLKATA vs. SUBHAS KUMAR KEDIA, KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.1677/Kol/2024 (नििाारण वर्ा / Assessment Year : 2016-2017) Acit, Circle-34, Kolkata Vs Subhas Kumar Kedia, 41, N.S.Road, Kolkata Pan No. :Afnpk 9669 M (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. नििााररती की ओर से /Assessee By : Ms. Shreya Loyalka, Ar राजस्व की ओर से /Revenue By : Shri P.N.Barnwal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 21/01/2025 घोषणा की तारीख/Date Of Pronouncement : 17/04/2025 आदेश / O R D E R Per Rajesh Kumar, Am : This Is An Appeal Filed By The Revenue Against The Order Dated 05.06.2024, Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, For The Assessment Year 2016-2017, On The Following Grounds Of Appeal :- I) That On The Facts & In The Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Erred In Quashing The Order U/S.148A(D) & All Subsequent Proceedings. Ii) That On The Facts & Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Failed To Acknowledge The Fact That The Assesse Had Not Expressed Any Grievance Against The Validity Of Order U/S 148A(D) By Moving Any Writ Petition Which Should Have Been Done In Case Of Any Grievance After Getting The Sald Order U/S.148A(D). Iii) That On The Facts & Circumstances Of The Case, The Ld. Cit(Appeals), Nfac, Delhi, Erred In Quashing The Order When The Ld. Cit(A) Has No Jurisdiction To Deal With The Question Whether The 148A(D) Order Was Passed Validly Or Properly As An Order U/S.148A(D) Is Not An Appealable Order Before Ld. Cit(A) As Per Section 246A.

70 (SC) has examined the above and the decision of Ashish Agarwal and CBDT Instruction 1 of 2022 and clarified on the issue of sanction as under: 81. This Court in Ashish Agarwal (supra) directed the assessing officers to "pass orders in terms of Section 148-A(d) in respect of each of the assesses concerned. Further, it directed

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

reassessment under Section 147 of the Act. The ground Nos. 1(a) to 1(d) of the Assessee's appeal were, accordingly, allowed." 13. Relying the said decision as supra, the Co-ordinate Kolkata Bench in Ashika Stocking Broking Ltd v. DCIT, Central Circle-2(1), Kolkata in ITA No.390/Kol/2022 for A.Y.2011-12 dated 31.08.2023 ruled the decision in favour

ITO, WARD 10(2), KOLKATA, KOLKATA vs. ALEX TRADECOM PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyita Nos.2197 & 2198/Kol/2024 Assessment Years: 2013-14 & 2014-15 Ito, Ward-10(2), Kolkata…………..…………………………….…….……Appellant Vs. Alex Tradecom Pvt. Ltd…………..……………….………...……...…..…..Respondent 4, Ratan Sarkar Garden Street, Burrabazar, Kol- 700069. [Pan: Aajca6146P] Appearances By: Smt. Madhumita Das, Addl. Cit, Sr. Dr, Appeared On Behalf Of The Appellant. Shri Akshay Ringasia, Ca, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 15, 2025 Date Of Pronouncing The Order : October 27, 2025 Order Per Pradip Kumar Choubey: Both The Captioned Appeals Have Been Preferred By The Revenue For The Assessment Years 2013-14 & 2014-15 Against Separate Orders Dated 05.08.2024 & 26.07.2024 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’) Respectively. Since, The Issues Involved In Both The Appeals Are Common & Relate To The Same Assessee, Therefore, These Appeals Have Been Heard Together & Are Being Disposed Of By This Consolidated Order. 2. Both The Appeals Have Been Filed By The Revenue With Delays Of 38 Days. The Revenue Has Filed Separate Affidavits For Condonation Of The Delays. After Considering The Reasons Cited In The Affidavits For Condonation Of Delay, We Find That The Reasons Are Valid And

70 (SC). The ld. AR prayed that his application under Rule 27 should be disposed of as the issue goes to the root of the case of the department. The ld. DR did not raise any objection in hearing this issue on legal ground filed under Rule 27 of the ITAT Rules. The ld. AR placed reliance to an order

ITO, WARD-10(2), KOLKATA, KOLKATA vs. ALEX TRADECOM PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyita Nos.2197 & 2198/Kol/2024 Assessment Years: 2013-14 & 2014-15 Ito, Ward-10(2), Kolkata…………..…………………………….…….……Appellant Vs. Alex Tradecom Pvt. Ltd…………..……………….………...……...…..…..Respondent 4, Ratan Sarkar Garden Street, Burrabazar, Kol- 700069. [Pan: Aajca6146P] Appearances By: Smt. Madhumita Das, Addl. Cit, Sr. Dr, Appeared On Behalf Of The Appellant. Shri Akshay Ringasia, Ca, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 15, 2025 Date Of Pronouncing The Order : October 27, 2025 Order Per Pradip Kumar Choubey: Both The Captioned Appeals Have Been Preferred By The Revenue For The Assessment Years 2013-14 & 2014-15 Against Separate Orders Dated 05.08.2024 & 26.07.2024 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’) Respectively. Since, The Issues Involved In Both The Appeals Are Common & Relate To The Same Assessee, Therefore, These Appeals Have Been Heard Together & Are Being Disposed Of By This Consolidated Order. 2. Both The Appeals Have Been Filed By The Revenue With Delays Of 38 Days. The Revenue Has Filed Separate Affidavits For Condonation Of The Delays. After Considering The Reasons Cited In The Affidavits For Condonation Of Delay, We Find That The Reasons Are Valid And

70 (SC). The ld. AR prayed that his application under Rule 27 should be disposed of as the issue goes to the root of the case of the department. The ld. DR did not raise any objection in hearing this issue on legal ground filed under Rule 27 of the ITAT Rules. The ld. AR placed reliance to an order

SANJAY KUMAR BHUTRA,KOLKATA vs. ITO, WARD 44(2),, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2013-14 Sanjay Kumar Bhutra………...……………………….……….……….……Appellant Geeta Katra, 1, Mullick St., 1St Floor, Burrabazar, Kol- 7.. [Pan: Ahspb7216J] Vs. Ito, Ward-44(2), Kolkata………………………………….....……...…..…..Respondent Appearances By: Shri S. K. Pransukha, Appeared On Behalf Of The Appellant. Shri S. B. Chakraborthy, Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 04, 2025 Date Of Pronouncing The Order : September 18, 2025 Order Per Pradip Kumar Choubey: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 19.12.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As The “Ld. Cit(A)”] Passed U/S 250 Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

70 (SC). He had placed reliance on a judgment passed by ITAT Mumbai Bench in ITA No.4816/Mum/2024 in the case of ITO vs Pushpak Realities Pvt Ltd on 07.11.2024. Sanjay Kumar Bhutra 3. Contrary to that, the ld. DR supports the impugned order thereby submitting that the ld. AR failed to file any written submission before

WEST BENGAL ELECTRONICS INDUSTRY DEVELOPMENT CORPORATION LIMITED,KOLKATA vs. D.C.I.T./A.C.I.T., CIRCLE - 2(1), KOLKATA, KOLKATA

Appeals of the assessee are allowed

70,63,006/- which has\nescaped assessment for the A.Y.2012-13.”\n3\nITA No. 1590 & 1591/Kol/2024\nWest Bengal Electronics Industry Development Limited\n6. We find from the perusal of above reasons that the in the very first\npara, the AO had mentioned about re-opening being based upon the\nperusal of the materials available on record. The AO noted that

M/S VINAYAK FINANCIAL CONSULTANTS PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE-4(1), KOLKATA

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

section 143(1) of the\nAct without scrutiny, the AO would have power to reopen the assessment, provided he\n\nPage | 18\n\n21\nITA No.2695/KOL/2024\n\nPa\nhad some tangible material on the basis of which he could form a reason to believe that\nincome chargeable to tax had escaped assessment.\n12.30 Further, reference

WEST BENGAL ELECTRONICS INDUSTRY DEVELOPMENT CORPORATION LIMITED,KOLKATA vs. DCIT/ACIT, CIRCLE - 2(1), KOLKATA, KOLKATA

Appeals of the assessee are allowed

70,63,006/- which has\nescaped assessment for the A.Y.2012-13.”\n4\nITA No. 1590 & 1591/Kol/2024\nWest Bengal Electronics Industry Development Limited\n6. We find from the perusal of above reasons that the in the very first\npara, the AO had mentioned about re-opening being based upon the\nperusal of the materials available on record. The AO noted that

M/S FANCY ENTERPRISES,KOLKATA vs. A.O. CIR. 32, , KOLKATA

In the result, the appeal of the assessee is allowed as per terms indicated above

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm M/S Fancy Enterprises Ao,Circle-2 2, Ganesh Chandra, Income Tax Office Avenue, Bentick Street, 10B Middleton, Calcutta Vs. Commerce House West Bengal-700071 West Bengal-700 013 (Appellant) (Respondent) Pan No. Aaaff5111B Assessee By : Shri Sunil Surana, Ar Revenue By : Shri P.P. Barman, Dr Date Of Hearing: 09.07.2024 Date Of Pronouncement : 23.08.2024

70,117/-, from three private limited companies alleged to be shell companies and initiated the reassessment proceedings by issuance of notice under Section

SEIKH ABDUL SABIR GOLAHAT NIMTALA MASJID,BURDWAN vs. CIT(A), BURDWAN

In the result, the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 309/Kol/2023 Assessment Year: 2006-2007 Seikh Abdul Sabir, Golahat Nimtala Masjid,……………………………Appellant P.O. Sripally, Dist. Purba Bardhaman-713101, W.B. [Pan:Azaps9812M] -Vs.- Commissioner Of Income Tax (Appeals),…..Respondent Burdwan, Near Court Compound, Burdwan-713101 Appearances By: Shri Soumitra Choudhury, Advocate & Shri Rajeeva Kumar, Advocate, Appeared On Behalf Of The Assessee Shri Arun Kanti Dutta, Addl. Cit, Sr. D.R. Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: July 03, 2024 Date Of Pronouncing The Order: July 04, 2024 O R D E R

reassessment order under section 147 read with section 143(3) was passed on 26.11.2011 determining the taxable income of the assessee at Rs.23,84,187/- . It emerges out that the issues travelled upto the Tribunal in the first round and ultimately ITAT has relegated certain issues for verification and grant of telescoping benefit in ITA No. 899/KOL/2015

DE-CON PROJECTS P LTD.,KOLKATA vs. ITO, WARD-8(2), KOLKATA

In the result, appeal of the assessee isallowed

Bench: passing original assessment order under Section 143(3), the same was examined by him and therefore, it is nothing but change of opinion and as such not in accordance with law.

reassessment proceedings when there was no application of mind and the requirements for initiation of proceedings u/s 147 were not fulfilled as such the assessment is liable to be quashed. 3. For that the Ld CIT(A) erred in not disposing the ground that the proceedings having been initiated after 4 years from the end of the assessment year without

BIMLA DEVI AGRAWAL,KOLKATA vs. A.C.I.T./D.C.I.T., CIRCLE - 34, KOLKATA, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

70,19,310/- was adopted and he further reduced cost of acquisition as claimed in ITR ₹6,10,810/- and arrived at LTCG at ₹64,08,500/-. The Ld. AO completed the assessment by computing capital gains at ₹64,08,500/- and assessed the total income of the assessee at ₹67,13,478/-. Aggrieved with the assessment order, the assessee