ARISTOCRAT RESIDENCES LLP ,KOLKATA vs. INCOME TAX OFFICER WARD 34 (1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Income Tax Officer, Ward Aristocrat Residences Llp 34(1) 2 Oswal Chambers Church Lane Aaykar Bhavan, Bbd Bagh, Kolkata-700001 Vs. Kolkata-700107 West Bengal West Bengal (Appellant) (Respondent) Pan No. Aavfa9997R Assessee By : Dr. Kapil Goel, Ar Revenue By : H. Robindro Singh, Dr Date Of Hearing: 06.02.2025 Date Of Pronouncement : 01.04.2025

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 operationalperiod 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 with

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 :-

u/s 133(6) of the Act, the NSE issued a letter on 16/01/2017 and stated as follows: 16/01/2017 and stated as follows:- “Please find no the client code modification details during the period from April 01, “Please find no the client code modification details during the period from April 01, “Please find no the client code modification details during

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

u/s 148. The relevant provisions of Section 153C of the Act are reproduced below:\n\"153C(1)\nNotwithstanding anything contained in section 139, section 147, section 148, section\n149, section 151 and section 153, where the Assessing Officer is satisfied that, —\nany money, bullion, jewellery or other valuable article or thing, seized or requisitioned,\nbelongs to; or\nany books

ACITCC-3(2), KOLKATA vs. SMT. SAVITRI DEVI AGARWAL, BILASPUR

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

U/S 132(1). 7. Relevant extracts from section 153C : Assessment of income of any other person. 153C. 153C. (1)] [Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 74belongs

ACIT CC-3(2),, KOLKATA vs. SRI ARJUN LAL AGARWAL , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

U/S 132(1). 7. Relevant extracts from section 153C : Assessment of income of any other person. 153C. 153C. (1)] [Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 74belongs

ACIT CC-3(2) , KOLKATA vs. SMT. KALAWATI DEVI AGARWAL, BILASPUR

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

U/S 132(1). 7. Relevant extracts from section 153C : Assessment of income of any other person. 153C. 153C. (1)] [Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 74belongs

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]

reassessment proceedings had become time barred on or before 31.03.2012 and therefore initiation of proceedings u/s. 147 on 16.02.2016 was hit by the law of limitation”. Thereafter, he reproduced Section 149(1) of the Income-tax Act, 1961 as under:- " (1) No notice under section 148 shall be issued for the relevant assessment year,­ (a) if four years have elapsed

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]

section 147, if the AO does not assess or reassess the income which he has reason to believe had escaped assessment and which formed the basis of the notice u/s 148, is it open to the AO to assess or reassess independently any other income which does not form the subject-matter of the notice. 3. The brief facts

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)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132- A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

ACIT, CENTRAL CIRCLE - 4(3), KOLKATA vs. M/S. GRD COMMODITIES LTD., , KOLKATA

In the result, the appeals of the Revenue are dismissed and the cross objections of assessee are allowed

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] It(Ss)A Nos.120 To123/Kol/2018 Assessment Years: 2009-10 To 2012-13

132 of the Act on 30-11-2012, proceedings u/s 153A was initiated by the AO on 21-10-2013. In the assessment proceedings, the AO issued notices u/s 143(2) & 142(1) calling for various documents & information inter alia including the details of transactions conducted in commodity derivatives etc. and thereafter completed the assessment u/s 153A/143

INDIAN WIRE AND STEEL PRODUCTS ,KOLKATA vs. A.C.I.T.,CIRCLE-44, KOLKATA

In the result, the appeal of the assessee is allow

Bench: Sri J. Sudhakar Reddy) Assessment Year: 2010-11 Indian Wire & Steel Products.....…………........................................................……………….…......Appellant 2Nd Floor 113A, Manohar Das Katra Kolkata – 700 007 [Pan : Aaafi 7079 M] Vs. Asstt. Commissioner Of Income Tax, Circle-44, Kolkata………………………………….…....Respondent Appearances By: Shri Subash Agarwal, Advocate, Appeared On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : December 10Th, 2019 Date Of Pronouncing The Order : January 10Th, 2020 Order Per J. Sudhakar Reddy, Am :-

132(1) of the income Tax, 1961 was carried out in the case of Anand Kumar Sharma, well known entry operators and his other related entities on Kumar Sharma, well known entry operators and his other related entities on Kumar Sharma, well known entry operators and his other related entities on 02.07.2013. In the statement, Mr. Anand Kumar Sinha

M/S. SHAKAMBHARI ISPAT & POWER LTD.,KOLKATA vs. DCIT, CC - 3(3),, KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

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

In the result, appeals by the revenue are dismissed and cross-objections by the assessee are allowed

reassess any issue relevant to income which comes to his notice subsequently in the course of proceedings under this section, notwithstanding that the reasons for such issue has not been included in the reasons recorded under subsection(2) of section 148”. 15. Further he adds that even in absence of any explanation u/s 153A also similar to the explanation

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), KOLKATA

Appeals of the assessee are partly allowed and\nappeals of the revenue are dismissed

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

132(1) on\n'Kasera' & 'Majee Group' on 30.11.2018 & 5.11.2020\nrespectively (searches were prior to 1.4.2021) and as such the\namended law u/s 147 and sec. 148 with effect from 1.4.2021\ncould not have been applied for issue of notice u/s 148 in such\nrespect and Ld. CIT(A) accordingly erred in not appreciating\nthe same