ITO, WARD-6(1), KOLKATA vs. M/S DANIEL COMMODITIES PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.645/Kol/2020 Assessment Year: 2009-10 Ito, Ward-6(1), Kolkata………..…….......................…...……………....Appellant Vs. M/S Daniel Commodities Pvt. Ltd…..........…..........................…..…..... Respondent 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] C.O. 4/Kol/2023 (A/O I.T.A. No.645/Kol/2020) Assessment Year: 2009-10 M/S Daniel Commodities Pvt. Ltd…………….....................…..…..... Cross-Objector 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] Vs Ito, Ward-6(1), Kolkata …………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : February 23, 2024 Date Of Pronouncing The Order : May 07, 2024

113 ITR 22(Gujrat). This case arose under the Income Tax Act with reference to the provisions of Section 147 dealing with re- assessment. The facts were that the assessment was sought to be reopened under Section 147 and notice under section 148 was issued. Validity of I.T.A. No.645/Kol/2020 & C.O. 4/Kol/2023 Assessment Year: 2009-10 M/s Daniel Commodities

MADHUBAN DEALERS PVT. LTD. PRESENTLY KNOWN AS MADHUBAN DEALERS LLP,KOLKATA vs. PCIT-13, KOLKATA

In the result, the appeal of assessee allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

113 ITR 22 wherein it was held as under: The provision of section 147 being for reopening the finally concluded assessment this special provision has been considered as properly hedged in by these various statutory safeguards, because the income has escaped the original assessment even when the procedure of original assessment contemplated such wide powers of appeal, revision and even

D.C.I.T., CENTAL CIRCLE - 3(3) KOLKATA, KOLKATA vs. SHRI BISWANATH GARODIA, KOLKATA

In the result, all the appeals of the revenue are dismissed and cross objections of assessee are also dismissed being academic in nature

Bench: Shri A. T. Varkey, Jm & Dr. (Shri) Arjunlalsaini, Am]

147 had become time barred, the same stood revived because of the Explanation. 15. We find that in the impugned order the ld. CIT(A) relied on the decision of the Hon’ble Supreme Court in the case of J.P. Jani ITO Vs Induprasad D. Bhatt (supra). In the decided case the assessee had claimed that his assessment was reopened

ITO, WARD-5(1), KOLKATA vs. M/S BPO FINANCE AND INVESTMENTS PVT LTD, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.99/Kol/2022 Assessment Year: 2008-09 Ito, Ward-5(1), Kolkata……..........................................................……Appellant Vs. M/S Bpo Finance & Investments Pvt. Ltd. .……........……..…..…..Respondent R No.54,5/1, Clive Row (2Nd Floor), Kolkata-1. [Pan: Aaccb5328F] Appearances By: Shri Manish Tiwari, Ar Appeared On Behalf Of The Appellant. Shri Vijay Kumar, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 15, 2023 Date Of Pronouncing The Order : July 04, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 10.09.2020 Of The Commissioner Of Income Tax (Appeals)-13, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue Originally Has Taken The Following Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,000,00/- Made By The Assessing Officer On Account Of Share Capital & Premium In The Course Assessment In Absence Of Identity Of The Creditors, Genuineness & Creditworthiness Of The Entire Transactions. 2. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,00,000/-Made By The Assessing Officer Where No Personal Attendance Was Made By Any Director Of The Share Allottee Companies During The Course Of Assessment Proceedings & As Such Identity & Creditworthiness Of The Creditors & Genuineness Of Transactions Could Not Be Verified.

reassessment order without issuance of any notice u/s 148 of the IT Act. c) The appellant company on 29.02.20l6 received communication in form of a notice u/s 142(1) from ITO Ward 5(3) Kolkata, wherein for the first time it was made aware of any proceedings u/s 148 of the IT Act. In reply to the said notice

BHARGAB ENGINEERING WORKS,HOWRAH vs. PCIT, CENTRAL KOLKATA 2, , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

u/s, 147 r.w.s. 143(3) of the Income Tax Act, 1961 dated 30.03.2023 is hereby set aside by exercising the power conferred upon me by section 263 of the Income Tax Act, 1961 directing the A.O to make necessary verification/inquiry on the instant issue and pass a fresh assessment order and re-compute the assessee’s income after making proper

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

section 147 of the Act, that is, reassessment can be used by assessing officer if there is ‘tangible material’ which shows that income has escaped assessment. The verification of the income tax return filed by the assessee u/s 139(1) of the Act may be done by assessing officer by issuing notice 143(2)/143(3) of the Act. Therefore

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

section 147 of the Act, that is, reassessment can be used by assessing officer if there is ‘tangible material’ which shows that income has escaped assessment. The verification of the income tax return filed by the assessee u/s 139(1) of the Act may be done by assessing officer by issuing notice 143(2)/143(3) of the Act. Therefore

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

section 147 of the Act, that is, reassessment can be used by assessing officer if there is ‘tangible material’ which shows that income has escaped assessment. The verification of the income tax return filed by the assessee u/s 139(1) of the Act may be done by assessing officer by issuing notice 143(2)/143(3) of the Act. Therefore

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

section 147 of the Act, that is, reassessment can be used by assessing officer if there is ‘tangible material’ which shows that income has escaped assessment. The verification of the income tax return filed by the assessee u/s 139(1) of the Act may be done by assessing officer by issuing notice 143(2)/143(3) of the Act. Therefore

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

section 147 of the Act, that is, reassessment can be used by assessing officer if there is ‘tangible material’ which shows that income has escaped assessment. The verification of the income tax return filed by the assessee u/s 139(1) of the Act may be done by assessing officer by issuing notice 143(2)/143(3) of the Act. Therefore

RUNGTA IRRIGATION LIMITED,NEW DELHI vs. D.C.I.T., CENTRAL CIRCLE - 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

reassessment proceeding passed on the invalid\napproval.\nITA No. 2303/Kol/2024\n14. The issue raised in ground no. 1 is against the invalid proceeding u/s. 147 r.w.s. 148\nof the Act. Facts in brief are that the assessee filed the return of income on 30.09.2014\ndeclaring total income of Rs.11,55,77,160/-. The other facts qua this year are also

RUNGTA IRRIGATION LIMITED,DELHI vs. A.C.I.T., CENTRAL CIRCLE 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

reassessment proceeding passed on the invalid\napproval.\nITA No. 2303/Kol/2024\n14.\nThe issue raised in ground no. 1 is against the invalid proceeding u/s. 147 r.w.s. 148\nof the Act. Facts in brief are that the assessee filed the return of income on 30.09.2014\ndeclaring total income of Rs.11,55,77,160/-. The other facts qua this year are also

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. M D GARMENTS PVT. LTD., , KOLKATA

In the result, the appeal of the revenue as well as cross- objection of the assessee are dismissed

Bench: Shri P.M. Jagtap, Am] I.T.A. No. 2146/Kol/2017 Assessment Year: 2009-10 D.C.I.T, Central Cir – 2(1) Kolkata.........................................................................Appellant 3Rd Floor,Aayakar Bhawan Poorva, E.M. By Pass, 110, Shantipally, Kolkata – 700107 M/S. M.D. Garments Pvt. Ltd. …………………………………………………………………Respondent 156, M.G. Road, 1St Floor, Kolkata – 700 007 [Pan : Aadcm 5555 C] C.O. No. 38/Kol/2018 (Arising Out Of Ita No. 2146/Kol/2017) Assessment Year: 2009-10 M/S. M.D. Garments Pvt. Ltd. ……………………………………………………………Cross-Objector 156, M.G. Road, 1St Floor, Kolkata – 700 007 [Pan : Aadcm 5555 C] D.C.I.T, Central Cir – 2(1) Kolkata....................................................................Respondent 3Rd Floor,Aayakar Bhawan Poorva, E.M. By Pass, 110, Shantipally, Kolkata – 700107 Appearances By: Shri Robin Choudhury, Addl. Cit Appearing On Behalf Of The Revenue Shri R.P. Agarwal, Sr. Counsel & Shri Nirav Sheth, Aca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 25, 2018 Date Of Pronouncing The Order : June 20, 2018 Order Per P.M. Jagtap, Am This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 20, Kolkata Dated 18.07.2017 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 38/Kol/2018. 2 I.T.A. No. 2146/Kol/2017 & C.O. No. 38/Kol/2018 Assessment Year 2009-10 M/S. M.D. Garments Pvt. Ltd.

113(3). The court further comprehensively rejected the argument of the revenue, which it seeks to urge in the present case as well, that an ‘intimation’ under section 143(1) cannot be equated to an assessment. The court held that ‘if an ‘intimation’ is not an ‘assessment’, then it can never be subjected to section 147 proceedings, for that section

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)

113 whereas income other than 'undisclosed income' was required to be assessed under regular assessment procedure and was taxable at normal rate. Therefore, section 153A came to be inserted and brought on the statute. Under Section 153A regime, the intention of the legislation was to do away with the scheme of two parallel assessments and tax the 'undisclosed' income

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

u/s 148A(b) issued was barred by limitation since the materials were forwarded after the deadline fixed by the Hon'ble Apex Court and further complete materials were never sent along with the show cause notice. Hence the entire reassessment is liable to be quashed.” 6. We have gone through the submissions made. Hon'ble Supreme Court in the case

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

u/s 148A(b) issued was barred by limitation since the materials were forwarded after the deadline fixed by the Hon'ble Apex Court and further complete materials were never sent along with the show cause notice. Hence the entire reassessment is liable to be quashed.” 6. We have gone through the submissions made. Hon'ble Supreme Court in the case

RUNGTA IRRIGATION LIMITED,DELHI vs. CENTRAL CIRCLE 3(1)/KOLKATA, KOLKATA

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

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

section 151 of the Act and accordingly, the reassessment proceeding passed on the invalid approval are itself invalid and accordingly quashed. ITA No. 2315/Kol/2024 for Assessment Year 2013-14 13. We have quashed the reassessment proceeding in ITA No. 2257/Kol/2024 for AY 2012-13 which was passed on the invalid approval. In this appeal also, we apply the result

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(1), KOLKATA, KOLKATA vs. RUNGTA IRRIGATION LTD, NEW DEHI

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

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

section 151 of the Act and accordingly, the reassessment proceeding passed on the invalid approval are itself invalid and accordingly quashed. ITA No. 2315/Kol/2024 for Assessment Year 2013-14 13. We have quashed the reassessment proceeding in ITA No. 2257/Kol/2024 for AY 2012-13 which was passed on the invalid approval. In this appeal also, we apply the result

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. RUNGTA IRRIGATION LIMITED, NEW DELHI

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

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

section 151 of the Act and accordingly, the reassessment proceeding passed on the invalid approval are itself invalid and accordingly quashed. ITA No. 2315/Kol/2024 for Assessment Year 2013-14 13. We have quashed the reassessment proceeding in ITA No. 2257/Kol/2024 for AY 2012-13 which was passed on the invalid approval. In this appeal also, we apply the result