DEEPAK BAJAJ ,KOLKATA vs. ITO, WARD 40(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

u/s 143(3) of the Act , whereas the ld. PCIT has set aside and revised the reassessment order under section 143(3) read with section 147

DCIT, CIRCLE - 3(1), , KOLKATA vs. M/S. THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD.,, KOLKATA

In the result, the appeal of Revenue is dismissed

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

section 143(2) of the Act, will not make the reassessment null & void in law, which is validly initiated u/s. 148 of the Act. 3. The Ld. CIT(A) has erred in law in deleting the reopening assessment u/s. 147

ACIT, CIRCLE - 25, KOLKATA , KOLKATA vs. M/S. MALA ROY & OTHERS, KOLKATA

In the result, this appeal of the In the result, this appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2008-09 & Assessment Year: 2012-13

u/s 143(3) of the Act, and hence the proviso to Section 147 of the Act, comes into play. 7. This Bench of the of the Tribunal under identical circumstances in the case of This Bench of the of the Tribunal under identical circumstances in the case of This Bench of the of the Tribunal under identical circumstances

ACIT, CIRCLE - 25, KOLKATA , KOLKATA vs. M/S. MALA ROY & OTHERS, KOLKATA

In the result, this appeal of the In the result, this appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2008-09 & Assessment Year: 2012-13

u/s 143(3) of the Act, and hence the proviso to Section 147 of the Act, comes into play. 7. This Bench of the of the Tribunal under identical circumstances in the case of This Bench of the of the Tribunal under identical circumstances in the case of This Bench of the of the Tribunal under identical circumstances

ANANDA PAUL,KOLKATA vs. ACIT, CIRCLE-50, KOLKATA, KOLKATA

In the result, assessee’s appeal stands are allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2007-08 Ananda Paul V/S. Acit, Circle-50, Cf-125, Salt Lake City, Manicktala Civic Centre, Kolkata-64 Uttarpan Complex, Ds- [Pan No.Afkpp 2201 D] 2&3, Kolkata-54 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri S.K. Tulsiyan, Advocate अपीलाथ" क" ओर से/By Appellant Shri S. Dasagupta, Addl. Cit-Dr ""यथ" क" ओर से/By Respondent 12-02-2018 सुनवाई क" तार"ख/Date Of Hearing 20-04-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-Xxxii, Kolkata Dated 05.11.2014. Assessment Was Framed By Acit, Circle-50 Kolkata U/S 147/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 30.12.2011 For Assessment Year 2007-08. Shri, S.K. Tulsiyan, Ld. Advocate Appeared On Behalf Of Assessee & Shri S. Dasgupta, Ld. Departmental Representative Appeared On Behalf Of Revenue. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1) That On The Fats & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Not Treating The Re-Assessment Proceeding U/S 143(3)/147 Of The It Act, 1961 As Invalid, Bad In Law, Unjust & Contrary To The Facts & Law. 2) That On The Facts & In Respect To The Circumstances Of Thee Case, The Ld. Cit(A) Erred In Confirming The Assessment Order Passed U/S. 143(3)/147 Of The It Act, 1961 By The Ld. Ao As Proper & Valid Without Considering The

u/s 147 of the Act on the basis of the materials which were available before him during the assessment proceedings under section 143(3) of the Act. From the above facts, we find that the AO at the time of original assessment had in his possession all the relevant details regarding the LTCG. Accordingly, we disagree with the view taken

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.

147 of the Act. The notice of reopening was issued after a period of 4 years from the end of the relevant assessment year and the original order of assessment made under section 143(3) of the Act was passed on 24.12.2009. The said re-opening has been objected by our client and the appeal against the reassessment order dated

ACIT, CIRCLE-10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

reassessment has been framed by the ld AO u/s 143(3) of the Act. We also hold that shelter u/s 292BB of the Act cannot be taken by the revenue for jurisdictional issue. In the instant case, admittedly no notice u/s 143(2) of the Act was served on the assessee after the filing of the return on 11.3.2005. Hence

ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE-10, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

reassessment has been framed by the ld AO u/s 143(3) of the Act. We also hold that shelter u/s 292BB of the Act cannot be taken by the revenue for jurisdictional issue. In the instant case, admittedly no notice u/s 143(2) of the Act was served on the assessee after the filing of the return on 11.3.2005. Hence

ITO,WARD-56(4), KOLKATA, KOLKATA vs. M/S. NOPANY & SONS, KOLKATA

In the result, the appeal of the Revenue is dismissed, while the Cross Objection of the assessee is allowed

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

u/s 147 was simply a change of opinion and presumably on the basis of some objections raised by the Revenue Audit, which is not permissible under law”. 9. As is evident from Ground No. 4 raised by the assessee before the ld. CIT(Appeals), the validity of initiation of proceeding under section 147 was challenged by the assessee, inter alia

SRI GOPINATH GHORAI,PURBA MEDINIPUR vs. ACIT, CIR-27, HALDIA, HALDIA

In the result the appeal of the assessee is dismissed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri S.S.Viswanethra Ravi, Jm ] I.T.A No. 01/Kol/2016 Assessment Year : 2005-06

u/s 143(3) r.w.s 147 dated 24/12/2010 by the theory of doctrine of merger and the time limit for rectification should be reckoned from the date of passing the reassessment order dated 24/12/2010 not from the date of original assessment. The appellant contended that order passed under section

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

reassessments were completed u/s 147/153A/143(3) of the Act. The AY 2014-15 was selected for regular scrutiny under CASS and the assessment was completed u/s 143(3) of the Act. In all these assessment orders for AYs 2009-10 to 2012-13 and 2014-15, the AO disallowed the losses incurred by the assessee in commodity transactions conducted

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]

143(3)/147, I however find that in the course of reassessment proceedings the AO conducted enquiry only with regard to shares which the assessee issued at premium during FY 2009-10 to 22 bodies corporate from whom it received Rs.30.20 crores. Although in the impugned order the AO has extensively extracted the statements which the Investigation Officers

GOAL ORIENTED TRADE LINK PVT. LTD.,,KOLKATA vs. ITO, WARD 2(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

147 of the Act within a particular period. The relevant periods, both in terms of the proviso to Section 143(2) of the Act and in terms of Section 153 thereof, have expired. As noticed by the Supreme Court in Hotel Blue Moon (supra) and is quoted above, the time is of some significance and notices can no longer

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

3 to section 147 which is\nreproduced as under. For the purpose of assessment or reassessment under this section, the\nAssessing Officer may assess or reassess the income in respect of any issue, which has\nescaped assessment, and such issue comes to his notice subsequently in the course of the\nproceedings under this section, notwithstanding that the reasons for such

GRAPHITE INDIA LTD.,KOLKATA vs. DCIT, CIRCLE 11, KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed as indicated above and the appeal of the Revenue is dismissed

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

reassessment proceedings u/s. 147 has been initiated and notice u/s. 148 dated 14.03.2005 is issued”. It is manifest from the reasons recorded by the Assessing Officer for reopening the assessment that the assessment originally completed under section 143(3

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]

3) and (5), be completed— (i) where the assessment, reassessment or recomputation is made on the assessee or any person in consequence of or to give effect to any finding or direction ITA No.2652/Kol/2019 & CO No. 15/Kol/2020 PCM Strescon Overseas Ventures Ltd., AY 2012-13 contained in an order under section 250, section 254, section 260, section 262, section

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]

3) and (5), be completed— (i) where the assessment, reassessment or recomputation is made on the assessee or any person in consequence of or to give effect to any finding or direction ITA No.2652/Kol/2019 & CO No. 15/Kol/2020 PCM Strescon Overseas Ventures Ltd., AY 2012-13 contained in an order under section 250, section 254, section 260, section 262, section

ITO, WD-41(2), KOLKATA, KOLKATA vs. M/S EPKON ASSOCIATES, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri P.M. Jagtap, Am & Mrs. Madhumita Roy, Jm] I.T.A. No. 1425/Kol/2014 Assessment Year: 2005-06 Ito, Ward 41(2), Kolkata..............................…………………………..............................Appellant 4Th Floor, Poddar Court, 18, Rabindra Sarani, Kolkata – 700 001. M/S. Epkon Associates.....................……....................................................................Respondent 10/2, Canal Circular Road, Kolkata – 700 067 [Pan: Aabfe 8374 Q] Appearances By: Shri Sallong Yaden, Addl. Cit Appearing On Behalf Of The Revenue. Shri A.K. Tibrewal, Fca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 23, 2018 Date Of Pronouncing The Order : May 30 , 2018 Order Per P.M. Jagtap, Am This Appeal Filed By The Revenue Is Directed Against The Order Of Ld. Cit(Appeals) – 19, Kolkata Dated 05.03.2014 & In The Solitary Ground Raised Therein, The Revenue Has Challenged The Action Of The Ld. Cit(A) In Cancelling The Assessment Made By The A.O. Under Section 143(3) / 147 Of The Income Tax Act, 1961 By Holding The Same To Be Invalid.

reassessment proceedings. Since there is a lapse on the part of the A.O. in reopening the assessment which was completed u/s 143(3) as discussed (supra), the order passed by him now cannot be sustained and is thus held to be ‘an ultra vires order’. As a result, the assessment order u/s 147/143(3) passed by the A.O. vide order