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

SARDA MINES PVT. LIMITED,KOLKATA vs. DCIT, CIRCLE-05(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd...............................………………………………………………Appellant 6Th Floor, Circular Court, 8, Ajc Bose Road, Kolkata – 700017. [Pan : Aahcs 2419 R] D.C.I.T., Cir 5(2) Kolkata………………………………………………......................Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 69 Appearances By: Shri A.K. Gupta, Fca Appearing On Behalf Of The Assessee. Md. Usman, Cit Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 21, 2017 Date Of Pronouncing The Order : December 14, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Principal Cit – 2, Kolkata Dated 28.03.2017 Passed Under Section 263 Of The Income Tax Act, 1961 & The Grounds Raised By The Assessee Therein Read As Under: “1. For That The Order Passed Under Section 263 Of The Income Tax Act, 1961 (In Short ‘The Act’) By The Principal Commissioner Of Income Tax -2, Kolkata (In Short ‘Cit’) Dated 28.03.2017 Is Without Jurisdiction & Illegal As None Of The Condition Precedent For Exercise Of The Power Under Section 263 Of The Act Exists And/Or Has Been Satisfied & As Such The Said Order Is Erroneous & Without Jurisdiction & Liable To Be Cancelled. 2. For That The Order Passed By The Assessing Officer Was Not In Any Way Erroneous Or Prejudicial To The Interest Of Revenue & As Such The Cit Would Not Exercise Any Power Under Section 263 Of The Act. The Cit Erred In Holding That The Order Of Assessment Is Erroneous & Prejudicial To The Interest Of Revenue.

reassessment order can be gone into in a proceeding under section 263 of the Act, we submit that the increase in the sale price referred to in para 4 of the notice under reply, disallowance of depreciation on user of assets 9

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)

reassessment under Sections 139, 147, 148, 149, 151 & 153. 28. The language of explanation 2 to new Section 148 is akin to Section 153A and Section 153C, Corollary being that after seizing of operation- alperiod of Section 153A to 153D, the cases being dealt thereunder were circumscribed in the scope of newly substituted Section 148." We are in complete agreement

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)

9. While considering the issue involved, one has to consider the object and purpose of insertion of Section 153A in the Act, 1961 and when there shall be a block assessment under section 153A of the Act, 1961. 9.1 That prior to insertion of Section 153A in the statute, the relevant provision for block assessment was under section 158BA

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. SURESH KUMAR BANTHIA, KOLKATA

In the result, the appeal of the Revenue is dismissed and the Cross\nObjection of the assessee is partly allowed

reassessment, there is no need to\nadjudicate other grounds.”\n(d) Recently The Hon'ble High Court of Rajasthan in the case of 'Shyam Sunder\nKhandelwal v. ACIT [2024] 161 taxmann.com 255 (Rajasthan)', had held that:\n\"Section 153A, read with sections 148 and 153C, of the Income-Tax Act, 1961\nSearch and seizure Assessment in case of (Section 153C

DCIT, CIRCLE-12(1), KOLKATA, KOLKATA vs. M/S DOTEX MERCHANDISE PVT. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and the cross objections are also dismissed as infructuous

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148.' 9

ITC LIMITED, KOLKATA. ,KOLKATA vs. DCIT,CIR-7(1),KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

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

9) ITC LIMITED; A.Ys. 1992-93 & 1993-94 ITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024 of the substituted section 153 as amended provides that the provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment, reassessment

ACIT, CIRCLE-7(1), KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

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

9) ITC LIMITED; A.Ys. 1992-93 & 1993-94 ITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024 of the substituted section 153 as amended provides that the provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment, reassessment

ACIT, CIRCLE-7.1, KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

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

9) ITC LIMITED; A.Ys. 1992-93 & 1993-94 ITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024 of the substituted section 153 as amended provides that the provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment, reassessment

ACIT, CIRCLE-7(1), KOLKATA, KOLKATA vs. HI TECH SYSTEMS AND SERVICES LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

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

9) ITC LIMITED; A.Ys. 1992-93 & 1993-94 ITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024 of the substituted section 153 as amended provides that the provisions of this section as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment, reassessment

DIPTI MEHTA ,KOLKATA vs. ITO, WARD - 43(2), , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

reassess income in respect of any issue which comes to his notice subsequently in the course of proceedings under section 147 though the reasons for such issue were not included in the reasons recorded in the notice under section 148(2). 9

ITC LIMITED,KOLKATA vs. DCIT, CIR-7(1), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both\nthe appeals of the revenue are dismissed

9)\nPage | 5\nITC LIMITED; A.Ys.1992-93 & 1993-94\nITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024\nof the substituted section 153 as amended provides that the\nprovisions of this section as they stood immediately before the\ncommencement of the Finance Act, 2016, shall apply to and in relation\nto any order of assessment, reassessment

I.T.O.,WARD-1(1), KOLKATA vs. M/S PCM STRESCON OVERSEAS VENTURE LTD., KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

reassessment, relating to any assessment year, which stands revived under sub-section (2) of section 153A, shall be made within a period of one year from the end of the month of such revival or within the period specified in this section or sub-section (1) of section 153B, whichever is later. (9

M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

reassessment, relating to any assessment year, which stands revived under sub-section (2) of section 153A, shall be made within a period of one year from the end of the month of such revival or within the period specified in this section or sub-section (1) of section 153B, whichever is later. (9

MACKINTOSH BURN LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(2), KOLKATA , KOLKATA

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

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1736/Kol/2017 ("नधा"रणवष" / Assessment Year: 2007-08)

reassessment proceedings was based on review of the same set of facts/details which were already on record before AO at the time of completion of original assessment under section 143(3) of the Act.We note that the assessee had debited an amount of Rs. 44.45 lacs to its Profit & Loss account under the head "Repairs - Building" in schedule

TERAI FRUITS COMPANY,SILIGURI vs. INCOME TAX OFFICER, WARD-1(1), SILIGURI, SILIGURI

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

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

reassessment under sub-section (3) of section 143 or section 147, as the case may be, has been paid within the period specified in such notice of demand; and (b) no appeal against the order referred to in clause (a) has been filed. (2) An application referred to in sub-section (1) shall be made within one month from

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

reassessed. (4) Subject to the provisions of sub-section (6), where the source of any receipt, deposit or investment in any assessment year is claimed to be an amount added to income or deducted while computing loss, as the case may be, in the assessment of such person in any year prior to the assessment year in which such receipt

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

9 are not pressed and ground nos. 11 to 15 are in relation to merits of the case. As regards ground nos. 1, 3, 4 and 5 the submissions are reproduced as under: “The appeal is filed against reassessment order framed by AO. The assessee is firstly agitating Ground No. 1 regarding the validity of the reassessment proceedings