ADIT(IT)-3(1), KOLKATA, KOLKATA vs. WHITE INDUSTRIES AUSTRALIA LTD., KOLKATA

In the result the appeals by the Assessee are dismissed, while the appeal by the Revenue is partly allowed

Bench: Hon'Ble Sri N.V.Vasudevan, Jm & Hon'Ble Sri M.Balaganesh, Am] Assessment Year : 1992-93

reassessment proceedings have been initiated after the expiry of four years from the end of the relevant assessment year without fulfilling the conditions laid down for the same in the proviso to the section 147 of the IT Act since neither the assessee failed to make a return u/s 139(1) nor any notice u/s 142(1) or u/s

M/S. WHITE INDUSTRIES AUSTRALIA LTD.,KOLKATA vs. ASST. DIT, INTERNATIONAL TAXATION - 3(1), KOLKATA, KOLKATA

In the result the appeals by the Assessee are dismissed, while the appeal by the Revenue is partly allowed

Bench: Hon'Ble Sri N.V.Vasudevan, Jm & Hon'Ble Sri M.Balaganesh, Am] Assessment Year : 1992-93

reassessment proceedings have been initiated after the expiry of four years from the end of the relevant assessment year without fulfilling the conditions laid down for the same in the proviso to the section 147 of the IT Act since neither the assessee failed to make a return u/s 139(1) nor any notice u/s 142(1) or u/s

HARSH COMTRADE PVT LTD,SURAT vs. INCOME TAX OFFICER, WARD 5(4), KOLKATA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri George Mathanआयकर अपील सं/Ita No.225/Kol/2024 (नििाारण वर्ा / Assessment Year :2012-2013) Harsh Comtrade Private Limited, Vs Ito, Ward-5(4), Kolkata 1/A, Stuti Apartment, Near Ashok Panhouse, City Light, Surat, Gujarat Pan No. :Aabcg 8847 C (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) : Shri Mehul Shah, Ar नििााररती की ओर से /Assessee By राजस्व की ओर से /Revenue By : Shri S.B. Chakraborthy, Addl. Cit-Sr.Dr सुनवाई की तारीख / Date Of Hearing : 01/07/2025 घोषणा की तारीख/Date Of Pronouncement : 01/07/2025 आदेश / O R D E R This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 28.12.2023, Passed In Din & Order No.Itba/Nfac/S/250/2023-24/1059161646(1) For The Assessment Year 2012-2013. 2. Shri Mehul Shah, Ld. Ar Appeared On Behalf Of The Assessee & Shri S.B.Chakraborthy, Ld.Sr. Dr Appeared On Behalf Of The Revenue. 3. At The Time Of Hearing, Ld. Ar Submitted That He Has Filed Written Submissions Before The Tribunal Which Has Been Placed In The Paper Book At Pages 90 To 104 Which Reads As Follows :- Before Income Tax Appellate Tribunal, Kolkata - 'Smc' Bench In The Case Of Harsh Comtrade Pvt. Ltd Sub: Written Submission For A.Y. 2012-13 Ref: Assessee'S Appeal No. 225/Kol/2024 Date Of Hearing: 21.08.2024 May It Please To Your Honour 1. In This Case, The Case Is Re-Opened On The Basis Of Reasons For Reopening Recorded On 23.03.2018. The Same Is Reproduced

147 notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148, the prerequisite is there should be a valid notice. Admittedly, in the case on hand, the notice was held to be not sustainable. If that be so, the Assessing Officer cannot be stated to be empowered

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.

2) of section 120 or any other provision of this Act, and the Additional Commissioner or Additional Director or Joint Commissioner or Joint Director who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the powers and functions conferred on, or assigned to. an Assessing Officer under this

M/S SUNCITY NIKETAN PVT.LTD.,KOLKATA vs. INCOME TAX OFFICER, 5(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.2101/Kol/2024 Assessment Year: 2013-14 M/S Suncity Niketan Pvt. Ltd………………....….......…....………....Appellant 5, Clive Row, Kolkata -1. [Pan: Aapcs4157E] Vs. Ito, Ward-5(1), Kolkata......................................................…..…..... Respondent Appearances By: Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Appellant. Shri Subhendu Datta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 12, 2024 Date Of Pronouncing The Order : February 07, 2025 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 06.12.2023 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’). 2. The Assessee In This Appeal Is Aggrieved By The Action Of The Ld. Cit(A) In Confirming The Addition Of Rs.17,99,28,555/- Made By The Assessing Officer By Treating Credits In The Account Of The Assessee As Income Of The Assessee From Unexplained Sources. The Assessee Apart From Challenging The Validity Of The Additions Made/Confirmed By The Lower Authorities On Merits, Has Also Contested The Very Validity Of The Reopening Of The Assessment Order As Well As The Validity Of The Assessment Order For Want Of Issue Of Notice U/S 143(2) Of The Act.

147 of the Income Tax Act 1961, vii. that the said notice has been issued merely on suspicion and not on believe and we object to such Issuance of notice u/s 148 of the Income tax Act 1961 and request your good self to drop the said proceedings under the act after verifying the information at your end. Please acknowledge

ABC INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE 11(1),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Abc India Limited Dcit, Circle 11(1) 40/8, Ballygunj, Circular Road, Aayakar Bhawan, Chowringhee Kolkata, West Bengal-700019 Square, Kolkata-700069 Vs. West Bengal (Appellant) (Respondent) Pan No. Aacca2035J Assessee By : Shri S.K. Pransukhka, Ar Revenue By : Shri Sanjib Kumar Paul, Dr Date Of Hearing: 16.02.2026 Date Of Pronouncement: 15.04.2026

u/s 2(47)(i) & (ii) of the Act. Since, the assessee company was a member of the cooperative society and possession was given for the exclusive enjoyment of the property and consideration was also received which transaction was covered in the provision of Section 2(47) (vi) of the Act. However, these offices were registered during the impugned assessment year

ACIT, CIRCLE-7.1, KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

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

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

reassessment order may kindly be held as time barred as per the provisions of section 153 of the Act and quashed.” 03. The facts in brief are that the assessee filed the return of income on 30.12.1992, which was revised on 30.03.1994, declaring total income at ₹162,97,59,233/-. The case of the assessee was selected for scrutiny

ACIT, CIRCLE-7(1), KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

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

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

reassessment order may kindly be held as time barred as per the provisions of section 153 of the Act and quashed.” 03. The facts in brief are that the assessee filed the return of income on 30.12.1992, which was revised on 30.03.1994, declaring total income at ₹162,97,59,233/-. The case of the assessee was selected for scrutiny

ITC LIMITED, KOLKATA. ,KOLKATA vs. DCIT,CIR-7(1),KOLKATA. , KOLKATA

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

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

reassessment order may kindly be held as time barred as per the provisions of section 153 of the Act and quashed.” 03. The facts in brief are that the assessee filed the return of income on 30.12.1992, which was revised on 30.03.1994, declaring total income at ₹162,97,59,233/-. The case of the assessee was selected for scrutiny

ACIT, CIRCLE-7(1), KOLKATA, KOLKATA vs. HI TECH SYSTEMS AND SERVICES LIMITED, KOLKATA

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

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

reassessment order may kindly be held as time barred as per the provisions of section 153 of the Act and quashed.” 03. The facts in brief are that the assessee filed the return of income on 30.12.1992, which was revised on 30.03.1994, declaring total income at ₹162,97,59,233/-. The case of the assessee was selected for scrutiny

PRICE WATERHOUSE & CO., [NOW KNOWN AS PRICE WATERHOUSE & CO. CHARTERED ACCOUNTANTS LLP],KOLKATA vs. DCIT, CIRCLE - 22, , KOLKATA

In the result, appeal filed by the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Vs. Dcit, Circle-22, Kolkata Price Waterhouse & Co, Kolkata (Now Versus Known As Price Waterhouse & Co Chartered Accountants Llp)

reassessment order was passed with variation, modification, altercation of the recorded reasons which is impermissible under the law. 2. On the facts and in the circumstances of the case, the Ld. CIT (Appeals) erred in confirming the addition of Rs. 31,12,50,000 treating the non-refundable grant received by the Assessee from PricewaterhouseCoopers Services BV, Netherlands ('Services

ITC LIMITED,KOLKATA vs. DCIT, CIR-7(1), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both\nthe appeals of the revenue are dismissed

2\nITA Nos.1343& 1318/KOL/2023, 744 & 745/KOL/2024\n02. At the time of hearing the Id. Counsel for the assessee pressed ground\nno.1 which read as under:-\n“1. Section 153: Reassessment Proceedings barred by law as per the provisions of\nsection 153 of the Act Tax Impact - Not Applicable]\na) That on the facts and in the circumstances of the case

DAMANI & CO,KOLKATA vs. I.T.O WD - 45(2),KOLKATA., KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

220 (Cochin – Trib.) which are placed on record. 3. We have heard the rival contentions of both the parties and perused the materials available on record. Before us Ld AR submitted orders of various co- ordinate Benches of ITAT and judgment of Courts which are placed on record. Ld. AR has challenged the initiation of proceedings and issuance of notice

INCOME TAX OFFICER-WARD-45(2), KOLKATA, KOLKATA vs. M/S DAMANI & CO., KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

220 (Cochin – Trib.) which are placed on record. 3. We have heard the rival contentions of both the parties and perused the materials available on record. Before us Ld AR submitted orders of various co- ordinate Benches of ITAT and judgment of Courts which are placed on record. Ld. AR has challenged the initiation of proceedings and issuance of notice

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.

220/- after making the addition of Rs. 40,00,000/- under section 68 by treating the share capital and share premium amounts as unexplained cash credit and made an addition of Rs. 80,000/- under section 69C on account of unexplained expenditure incurred on payment of commission for obtaining the accommodation entry. 3 I.T.A. No. 2146/Kol/2017 & C.O. No. 38/Kol/2018 Assessment

DCIT, CIR. 13(1), KOLKATA vs. M/S PACHARIA EXPORTS PVT LTD., KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaassessment Year: 2011-12 Dcit, Circle-13(1), M/S. Pacharia Exports Pvt. Kolkata Ltd. 37, Gangananchal Vs. Apartment, Dr. Abani Dutta Road, Salkia, Howrah- 711106. Pan: Aabcp6955D (Appellant) (Respondent) Cross-Objection No.29/Kol/2020 (Arising Out Of Ita No.558/Kol/2020) Assessment Year: 2011-12 M/S. Pacharia Exports Dcit, Circle-13(1), Kolkata Pvt. Ltd. 37, Gangananchal Vs. Apartment, Dr. Abani Dutta Road, Salkia, Howrah-711106. Pan: Aabcp6955D (Appellant) (Respondent) Present For: Revenue By : Smt. Ranu Biswas, Addl. Cit Assessee By : Shri Akkal Dudhwewala, Fca Date Of Hearing : 08.02.2022 Date Of Pronouncement : 07.03.2022 O R D E R Per Rajesh Kumar: The Appeal By The Revenue & Cross-Objection By The Assessee Are Filed Against The Order Dated 16.09.2020 Passed By The Commissioner Of Income Tax (Appeals)

220/-. During the course of assessment proceedings, the AO specifically raised a query by issuing the questionnaire dated 26.12.2013 calling upon the assessee vide para 3 of the said questionnaire to furnish the information/details qua the loans taken, and interest payable thereon in a prescribed proforma which was replied by the assessee by filing the details relating to these loans

NOMURA RESEARCH INSTITUTE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. D.C.I.T.CIRCLE-2(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

147. 5. For that the Assessing Officer erred in assessing the total income of the Appellant at INR 9,40,36,160/- as against total income of INR 4,31,54,335/- computed as per the final assessment order passed on August 31, 2016 under section 143(3) of the Act.” 2 I.T.A. No. 1548/Kol/2019 Assessment Year: 2014-15 Nomura

SWARNASATHI ADVISORY SERVICES PVT. LTD., ,KOLKATA vs. ITO, WARD - 9(4), KOLKATA , KOLKATA

Appeal is allowed

Bench: Shri S.S, Godaraassessment Year:2006-07

u/s 147 of the Act. The Hon’ble Court observed that (i) S. 147 provides that the AO may assess the income which has escaped assessment “and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section”. Explanation 3 to s. 147 inserted