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]

u/s. 14393) by the AO on 28.12.2018 13. Before we controvert to the legal issue held in favour of the assessee by the Ld. CIT(A), let us look into section 153 which reads as under: “Time limit for completion of assessment, reassessment and recomputation 153. (1) No order of assessment shall be made under section 143 or section

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]

u/s. 14393) by the AO on 28.12.2018 13. Before we controvert to the legal issue held in favour of the assessee by the Ld. CIT(A), let us look into section 153 which reads as under: “Time limit for completion of assessment, reassessment and recomputation 153. (1) No order of assessment shall be made under section 143 or section

MANAKSIA LIMITED,KOLKATA vs. DCIT, CIRCLE 4(1), , KOLKATA

155 ITR 166 (SC). In\nthis case, the Court has observed that Section 37(2) provides that \"the provisions of\nthe Code relating to searches, shall so far as may be, apply to searches directed under\nSection 37(2). Reading the two sections together it merely means that the\nmethodology prescribed for carrying out the search provided in Section

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]

155 ITR 166(SC). In this case, the Court has observed that Section 37(2) provides that “the provisions of the Code relating to searches, shall so far as may be, apply to searches directed under Section 37(2). Reading the two sections together it merely means that the methodology prescribed for carrying out the search provided in Section

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]

155 ITR 166(SC). In this case, the Court has observed that Section 37(2) provides that “the provisions of the Code relating to searches, shall so far as may be, apply to searches directed under Section 37(2). Reading the two sections together it merely means that the methodology prescribed for carrying out the search provided in Section

DEBABRATA BANERJEE,KOLKATA vs. DCIT,CIR-34,KOLKATA., KOLKATA

In the result, appeal of the assessee is allowed

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

147 of the Act which states that where assessment has been framed u/s. 143(3) of the 5 Debabrata Banerjee, AY 2013-14 Act then the reopening can only be made beyond four years from the end of relevant assessment year if the escapement has been occurred due to the failure on the part of the assessee to disclose

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S EIH LTD., KOLKATA

In the result the cross objection is allowed and the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1707/Kol/2016 Assessment Year : 2006-07 D.C.I.T., Circle-8(1) -Vs.- M/S Eih Ltd. Kolkata Kolkata [Pan : Aaace 6898 B] (Respondent) (Appellant) C.O.No.62/Kol/2016 (A/O I.T.A No. 1707/Kol/2016 ) Assessment Year : 2006-07 M/S Eih Ltd. -Vs- D.C.I.T., Circle-8(1) Kolkata Kolkata [Pan : Aaace 6898 B] (Respondent) (Cross Objector) For The Department : Md. Usman, Cit(Dr) For The Assessee : Shri A.K.Gupta, Fca Date Of Hearing : 17.01.2018. Date Of Pronouncement : 02.02.2018. Order Per N.V.Vasudevan, Jm

section 143(3) of the Act and there was absolutely no failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment for that assessment year. 4 ITA NO.1707/Kol/2016 & C.O.No.62/Kol/2016 M/s EIH Ltd. A.Yr.2006-07 It was submitted that no new material or information has come on record and thus

SREI INFRASTRUCTURE FINANCE LIMITED,KOLKATA vs. ACIT,CIR-11(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Dr. Manish Boradi.T.A. No.1157/Kol/2023 Assessment Year: 2017-18 Srei Infrastructure Finance Ltd. ………. Appellant (Pan: Aaacs1425L) Vs. Acit, Circle-11(1), Kolkata ……. Respondent Appearances By: Shri S. K. Tulsiyan, Advocate & Sm. Lata Goyal, Aca Appeared For Appellant Shri S. Datta, Cit, Dr Appeared For Respondent . Date Of Hearing : 07.02.2024 Date Of Pronouncing The Order : 29.04.2024 Order Per Manish Borad: This Appeal Filed By The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2017-18 Is Directed Against The Order Passed U/S 250 Of The Income Tax Act, 1961 In Short The “Act”) By Ld. Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [In Short Ld. “Cit(A)”] Dated 05.09.2023 Arising Out Of The Assessment Order U/S. 154 R,W,S, 143(3) Of The Act By Acit, Circle-11(1), Kolkata Dated 12.07.2022. 2. Grounds Of Appeal Raised By The Assessee Are Reproduced As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Commissioner Of Income Tax (Appeal), [Here- In- After Referred To As Ld. Cit(A)] Was Not Justified & Grossly Erred In Not Granting The Interest U/S. 244A Of The Income Tax Act, 1961 ('The Act').

reassessment, the assessee shall be entitled to receive, in addition to the interest payable under sub-section (1), an additional interest on such amount of refund calculated at the rate of three per cent per annum, for the period beginning from the date following the date of expiry of the time allowed under sub-section (5) of section

MRS. NEELAM AGRAWAL ,KOLKATA vs. ITO, WARD-37(1), KOLKATA

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad & Shri Pradip Kumar Choubeyi.T.A. No.756/Kol/2024 Assessment Year: 2015-16 Mrs. Neelam Agarwal ………. Appellant (Pan: Adcpa3772G) Vs. Income Tax Officer, Ward-37(1), Kolkata. ………… Respondent Appearances By: Shri Sunil Surana, Ar Appeared For Appellant. Shri Abhijit Kundu, , Addl. Cit, Dr Appeared For Respondent. Date Of Concluding The Hearing : 03.07.2024 Date Of Pronouncing The Order : 22.07.2024 Order Per Manish Borad: This Appeal Filed By The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2015-16 Is Directed Against The Revision Order Passed U/S 263 Of The Income Tax Act, 1961 In Short The “Act”) By Ld. Pr. Commissioner Of Income-Tax, Kolkat-13 [In Short Ld. “Pr. Cit”] Dated 15.03.2024 Arising Out Of The Assessment Order U/S 147 R.W.S. 144B Of The Act By Ao, Nfac, Delhi Dated 27.03.2022. 2. Grounds Of Appeal Raised By The Assessee Read As Under: “1. For That The Ld. Pcit Erred In Revising The Reassessment Order Which Was Itself Invalid & Bad In Law As Sanction For Reopening Of Assessment Proceedings Was Not Taken From Prescribed Authority As Per Section 151. I.T.A. No. 756/Kol/2024 Neelam Agarwal, Ay : 2015-16

147 read with section 144B of the Act and returned income was accepted. Thereafter, Ld. PCIT assuming jurisdiction u/s. 263 of the Act called for the assessment record and observed that Ld. AO has not properly carried out the assessment proceedings regarding the transaction of sale of shares of AML Ltd. & EML and thereafter considering the submission of assessee which

DEEPAK SWITCH GEARS PVT. LTD. ,KOLKATA vs. PCIT, ASANSOL, ASANSOL

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2Nd Floor, 155, Jessore Road, Kolkata-700055. [Pan: Aabcd1131H] Vs. Pcit, Asansol….....….........................................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 08, 2024 Date Of Pronouncing The Order : May 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 30.12.2022 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 158 Days. A Separate Application Of Condonation Of Delay Has Been Filed, Wherein, It Has Been Pleaded That After Receipt Of The Impugned Order Of The Pr. Cit, The Assessee, Through Its Director, Shri Deep Kishan Saraf, Immediately Approached One Shri Pawan Kumar Agarwal, Chartered

155, Jessore Road, Kolkata-700055. [PAN: AABCD1131H] vs. PCIT, Asansol….....….........................................................…..…..... Respondent Appearances by: Shri A. K. Tibrewal, AR, appeared on behalf of the appellant. Shri Abhijit Kundu, CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : April 08, 2024 Date of pronouncing the order : May 07, 2024 आदेश / ORDER संजय गग", "या"यक सद"य "वारा

M/S. PEARL TRACOM PVT. LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(1), , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm M/S Pearl Tracom Pvt. Ltd. Dcit, Central Circle 3(1) C/O M/S Salarpuriajajodia& Co.7, Aaykar Bhawan, P-7, C.R. Avenue, 3Rd Floor, Chworinghee Square, Kolkata- Vs. Kolkata-700072, West Bengal 700069, West Bengal (Appellant) (Respondent) Pan No. Aabcp9934G Assessee By : Shri Siddarth Jhajharia, Ar Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 02.04.2026 Date Of Pronouncement: 02.04.2026

reassessment proceedings u/s 147 of the Act by issuing notice u/s 148 of the Act which was initiated by the ld. AO without fulfilling the conditions precedent as provided in the section itself. 3.1. The facts in brief are that the assessee filed the return of income on 31.10.2019, declaring total income at ₹6,27,780/-. A search action u/s

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)

155 ITR 166 (SC). In this 5 Goal Oriented Trade Link Pvt. Ltd. case, the Court has observed that Section 37(2) provides that "the provisions of the Code relating to searches, shall so far as may be, apply to searches directed under Section 37(2). Reading the two sections together it merely means that the methodology prescribed for carrying

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. PREMIER ROAD CARRIERS LTD., KOLKATA

In the result appeal by the Revenue is dismissed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ] I.T.A No. 960/Kol/2011 Assessment Year : 2000-01 D.C.I.T., Circle-8, -Vs.- M/S. Premier Road Carriers Ltd. Kolkata Kolkata [Pan : Aabcr8968E] (Appellant) (Respondent) For The Appellant : Shri S.S.Alam, Addl. Cit For The Respondent : Shri Sallong Yaden, Addl.Cit Date Of Hearing : 23.11.2016. Date Of Pronouncement : 2.12.2016. Order Per N.V.Vasudevan, Jm

u/s 147 r.w.s 143(3) is time barred and is liable to be quashed. vii. The appellant craves leave to add to, alter, to delete from or substantiate the above- ground of appeal.” 17. On a perusal of the grounds of appeal raised by the Assessee before the CIT(A), we find that in Gr.No.1 raised by the Assessee

SHREEKANT RAY ,KOLKATA vs. ITO, WARD-61(3), KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Sonjoy Sharma & Shri Rakesh Mishraassessment Year: 2018-19

reassessment order under Section 147 read with Section 144B of the Act was passed by the AO at the total income of Rs. 1,05,46,917/- by making an addition of Rs. 94,14,477/- on account of deemed dividend under Section 2(22)(e) of the Act. The Ld. CIT(A) examined the finding

ITO, WD-48(3), KOLKATA, KOLKATA vs. SANTOSH KUMAR SUREKA, HOWRAH

In the result, the appeal filed by the Revenue, is dismissed

Bench: Shri N.V. Vasudevan, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.998/Kol/2015 (िनधा"रणवष" / Assessment Year: 1989-90) I.T.O, Wd-48(3), Kolkata Vs. Santosh Kumar Sureka 105/34/1, Girish Ghosh Road, 1St Floor, 3, Govt. Place(West), Liluah, Howrah – 711 204. Kolkata – 1. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Amaps 1884 Q (Appellant) .. (Respondent) Appellant By :Shri Soumyajit Dasgupta, Addl. Cit Respondent By:S.M. Surana, Advocate. सुनवाईकीतारीख/ Date Of Hearing : 21/11/2017 घोषणाकीतारीख/Date Of Pronouncement : 17/01/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year 1989-90, Is Directed Against An Order Passed By The Cit(A)-14, Kolkata, In Appeal No.92/Cit(A)-Xxx/Cir-46/2011-12, Dated 30.03.2015, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S 147/143(3) Of The I.T. Act, 1961 (Hereinafter Referred To As The ‘Act’), Dated 31.03.2005. 2.The Grounds Of Appeal Raised By The Revenue Are As Follows: “1. On The Facts & In The Circumstance Of The Case, Ld. Cit(A)-14, Kol Erred In Concluding That The Reopening Of Assessment Of The Appellant Itself Was Bad In Law & The Assessment Is Ab Initio Void On That Score Alone. 2. On The Facts & In The Circumstance Of The Case, Ld. Cit(A)-14, Kol Erred In Concluding That The Addition Of Rs.29,11,337/- Made By The Assessing Officer Towards Unexplained Investment By The Assessee, In Purchases In Prop. Concern M/S Sureka Castings &Engg. Co., Before The Ownership Of The Prop. Concern Changed Hands On 05.09.1988 When It Was Purchased By Shree G.S. Sureka, Was Not Justified. 3. The Ld. Cit(A)-14, Kol Erred In Deleting The Addition Of Rs.2,91,133/- Made By The Assessing Officer, Towards Profit Out Of The Supply Of Goods To Railways At An Estimated Rate Of 10% Of Total Value Of The Order.”

section 147 of the I.T. Act, in respect of the assessee as income has escaped assessment in this case.The Assessing Officer came to the conclusion that the assessee under consideration was the proprietor of Sureka Castings & Engg. Co. before it was transferred to G.S. Sureka (brother of assessee) on 05.09.1988. The amount of money deposited in the Bank of Rajasthan

GARUD CREDIT & HOLDING PVT LTD,KOLKATA vs. I.T.O WD - 9(2),KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 1270/Kol/2013 Assessment Year: 2009-2010 Garud Credit & Holding Pvt. Limited,.........Appellant D.J. Shah & Co., 2, Elgin Road, Kolkata-700020 [Pan: Aaacg9791P] -Vs.- Income Tax Officer,.................................Respondent Ward-9(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Veekaas S. Sharma, Ca, Appeared On Behalf Of The Assessee Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : February 06, 2023 Date Of Pronouncing The Order : May 01, 2023 O R D E R

147 of the Act. The reasons for reopening was on account of preliminary expenses written off under section 35D of the Act as well as higher amount of expenses claimed by the assessee during the year as compared to the preceding year. The ld. Assessing Officer noticed that during the year, there is a transaction of share capital and share

JESSOP & CO. LTD.,KOLKATA vs. CIT, KOLKATA-1, KOLKATA

In the result, ITA No. 702/kol/14 is allowed for statistical purpose, while ITA

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 702 & 1045/Kol/2014 Assessment Years : 2008-09 & 2009-10 M/S. Jessop & Co.. Ltd. -Vs.- C.I.T., Kolkata-1, Kolkata Kolkata [Pan : Aaacj 6969 N] (Appellant) (Respondent) For The Appellant : Shri Subash Agarwal, Advocate For The Respondent : Shri G.Mallikarjuna, Cit(Dr)

155 (Mum), it is the cumulative loss/ depreciation as appearing in the Balance Sheet which should be considered for deduction from net profit and not the loss/depreciation calculated on a year to year basis. In view of the above the Profit & Loss A/c was examined and it was observed that Cumulative brought forward profit/(Ioss) transferred from Profit & Loss

HALDIA PETROCHEMICALS LTD.,KOLKATA vs. ACIT, CIR-8, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed while the appeal of revenue is treated as dismissed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm ] I.T.A. No. 1532/Kol/2015 Assessment Year 2003-04 Haldia Petrochemicals Ltd..............................………………………………………….Appellant Bengal Eco Intelligent Park (Techno) Tower 1, Block Em, Plot-3, Salt Lake City, Sec-V, 3Rd Floor, Kolkata – 700 091 [Pan: Aaach 7360 R] Acit, Circle 8 Kolkata,...................…………………………………………………….Respondent P-7, Chowringhee Square, Aayakar Bhawan, Kolkata - 700069 I.T.A. No. 167/Kol/2016 Assessment Year 2003-04 Dcit, Circle 11(1) Kolkata.............................………………………………………..Appellant P-7, Chowringhee Square, Kolkata – 700 069 Haldia Petrochemicals Ltd..............................………………………………………Respondent Bengal Eco Intelligent Park (Techno) Tower 1, Block Em, Plot-3, Salt Lake City, Sec-V, 3Rd Floor, Kolkata – 700 091 [Pan: Aaach 7360 R] Appearances By: Shri Harakamal Chakravorty, Ar Appearing On Behalf Of The Assessee. Shri Sallong Yaden, Addl. Cit Appearing On Behalf Of The Revenue.

reassessment proceedings was not acceptable by the A.O. and he proceeded to make a disallowance of Rs. 1,10,08,966/- being excess claim of depreciation made by the assessee in the assessment completed under section 143(3)/147 vide an order dated 21.12.2009. 4. Against the order passed by the A.O. under section 143(3)/147, an appeal