M/S VENKATESWAR MEDICARE PVT. LTD.,KOLKATA vs. ITO, WARD 2(1), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

reassessment with effect from April 1, 2021. In terms of Sections 40, 41, 43 and 44 of the Finance Act, 2021, which came into force on April 1, 2021, as per Section 2(a) thereof, the old Sections 147, 148, 149 and 151 stood repealed/abrogated and replaced by a new set of provisions. Further, by Section 42, a new Section

M/S VENKATESWAR MEDICARE PVT. LTD.,ITO, WARD-2(1) vs. ITO, WARD-2(1), KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

reassessment with effect from April 1, 2021. In terms of Sections 40, 41, 43 and 44 of the Finance Act, 2021, which came into force on April 1, 2021, as per Section 2(a) thereof, the old Sections 147, 148, 149 and 151 stood repealed/abrogated and replaced by a new set of provisions. Further, by Section 42, a new Section

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

147 read with Section 144B and not under Section 144 of the Act. 3. The Hon'ble Commissioner of Income Tax (Appeals) erred both in law and on facts by passing the order on 07/01/2025 at 11:26 IST, prior to the expiry of the 3 stipulated time period provided in the notice for submissions, thereby violating the principles

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

147 read with Section 144B and not under Section 144 of the Act. 3. The Hon'ble Commissioner of Income Tax (Appeals) erred both in law and on facts by passing the order on 07/01/2025 at 11:26 IST, prior to the expiry of the 3 stipulated time period provided in the notice for submissions, thereby violating the principles

URVASHI SAREES PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), , KOLKATA

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

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

147 read with Section 144B of the Act, the purported action of the Learned CIT (Appeals) in upholding the addition, to the extent of Rs. 27,73,218/-, under Section 69C of the Act is arbitrary, unjustified, unwarranted and illegal and hence all proceedings in pursuance thereof are liable to be quashed and/or set aside. XII. FOR THAT the entire

PRAMOD LAKRA DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. URVASHI SAREES PVT. LTD, KOLKATA

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

Bench: ITAT, Kolkata were collected and prepared | | 18.01.2025 | 2nd Appeal was filed |

147 read with Section 144B of the Act, the purported action of the Learned CIT (Appeals) in upholding the addition, to the extent of Rs. 27,73,218/-, under Section 69C of the Act is arbitrary, unjustified, unwarranted and illegal and hence all proceedings in pursuance thereof are liable to be quashed and/or set aside. XII. FOR THAT the entire

RAGHUVIR RETAILERS PVT. LTD.,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2 Raghuvir Retailers Pvt. Ltd. Aaykar Bhavan P-7, Mandawa Shikhar, 151, Sarat Chowringhee Square, Kolkata- Bose Road, Kolkata-700026, Vs. 700069, West Bengal West Bengal (Respondent) (Appellant) Pan No. Aaecr8231M Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 19.12.2024 Date Of Pronouncement : 11.02.2024

u/s 147 of the Act. The notice was unsigned both manually and digitally is invalid. The issue is covered by the decision of Bombay High Court in the case of Prakash Krishnavatar Bhardwaj in W.P. No. 9835 of 2022 dated 9.1.2023 wherein the Hon’ble High Court has held as under: “8. We have heard the learned counsel

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

M/S. DIACH CHEMICALS & PIGMENTS PVT. LTD.,HOWRAH vs. D.C.I.T., CENTRAL CIRCLE - 4(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am

147 of the Act vide order dated 28.03.2023, making an addition of ₹9,68,45,467/- and addition on account of PF and ESI contribution ₹ 7,34,624/-. The assessee challenged the validity of the reassessment proceedings for which CIT (A) after taking into consideration the contention and submission of the assessee, dismissed the appeal of the assessee by observing

M/S. DIACH CHEMICALS & PIGMENTS PVT. LTD.,HOWRAH vs. D.C.I.T., CENTRAL CIRCLE - 4(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am

147 of the Act vide order dated 28.03.2023, making an addition of ₹9,68,45,467/- and addition on account of PF and ESI contribution ₹ 7,34,624/-. The assessee challenged the validity of the reassessment proceedings for which CIT (A) after taking into consideration the contention and submission of the assessee, dismissed the appeal of the assessee by observing

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.

147 of the Act was in fact barred by limitation as the notice u/s 148 was issued on 28.07.2022 which is beyond the limitation period in view of the decision passed in view of the Apex Court Decision passed in Union of India v. Rajeev Bansal [2024] 167 taxmann.com 70 (SC). 6. Contrary to that, the ld. DR supports

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.

147 of the Act was in fact barred by limitation as the notice u/s 148 was issued on 14.07.2022 which is beyond the limitation period in view of the decision passed in view of the Apex Court Decision passed in Union of India v. Rajeev Bansal [2024] 167 taxmann.com 70 (SC). The ld. AR also placed reliance of the decisions

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

In the result, the appeal is hereby treated as allowed

reassessment notices in light of the judgment of the Supreme Court in Rajeev Bansal and of this Court in Ram Balram, T.K.S Builders, Abhinav Jindal and Naveen Kumar Gupta.\" 6.3 It is also relevant to mention here that the division bench decision in the case of Ram Balram Buildhome Pvt. Ltd. (supra) has examined the issue of overarching period

K.Y.S. SPONGE IRON PVT. LTD.,KOLKATA vs. I.T.O., WARD - 3(1),, KOLKATA

Appeal of the assessee is allowed

Bench: Any Other Issue.

u/s 148A(b) of the Act, having been initiated after six years from the assessment year, the assessment year in question was not covered by TOLA as admitted by the Ld. ASG in the case of Rajeev Bansal (supra) and so held in the said judgement. 3.2. At this juncture we need to consider the judgement

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

reassessment has come in place with effect from 01.04.2021, therefore was any reopening notice u/s 148 of the Act on or after 01.04.2021, has to be in accordance with the new provisions of Section 148 and 148A of the Act. The assessee requested the ld. AO to drop the proceedings immediately. Thereafter, the learned AO issued notice u/s 148A

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

reassessment has come in place with effect from 01.04.2021, therefore was any reopening notice u/s 148 of the Act on or after 01.04.2021, has to be in accordance with the new provisions of Section 148 and 148A of the Act. The assessee requested the ld. AO to drop the proceedings immediately. Thereafter, the learned AO issued notice u/s 148A

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. ITO, WARD 5(2) (NOW DCIT, CENT.CIR. 4(2)), KOLKATA

In the result, the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

reassessment has come in place with effect from 01.04.2021, therefore was any reopening notice u/s 148 of the Act on or after 01.04.2021, has to be in accordance with the new provisions of Section 148 and 148A of the Act. The assessee requested the ld. AO to drop the proceedings immediately. Thereafter, the learned AO issued notice u/s 148A

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

reassessment has come in place with effect from 01.04.2021, therefore was any reopening notice u/s 148 of the Act on or after 01.04.2021, has to be in accordance with the new provisions of Section 148 and 148A of the Act. The assessee requested the ld. AO to drop the proceedings immediately. Thereafter, the learned AO issued notice u/s 148A