ANCHITA PROPERTIES PVT. LTD. ,KOLKATA vs. ITO, WARD-12(1), KOLKATA. , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

234C of the Income Tax Act. 3. First we take the issue challenging reopening of the assessment. 4. Brief facts of the case are that the assessee has filed its return of income under section 139(1) of the Income Tax Act on 30th March, 2014 declaring total income of Rs.55,10,070/-. This return was selected for scrutiny assessment

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

M/S. SHREE HANUMAN SUGAR & INDUSTRIES LTD.,KOLKATA vs. ACIT, CENTRAL CIRCLE-XI,KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: : Shri M.Balaganesh & Shri S.S. Viswanethra Ravi

section 115JA. Therefore, the AO cannot modify such order u/s. 154 of the Act. 13. In reply, the Ld. DR submits the limitation is saved to rectify the order and the revenue has an opportunity to rectify the order u/s. 154 of the Act. The AO did not take into consideration the computation u/s. 115JA from the first instance onwards

GOBINDA ADHIKARY,KOLKATA, WEST BENGAL vs. WARD 34(1), KOLKATA, KOLKATA, WEST BENGAL

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

234C of the Income-tax Act, 1961, which is excessive, incorrectly calculated, and/or bad in law. Ground No. 5: Leave to Produce Additional Evidence (Rule 29) That the Appellant craves leave to produce additional evidence in terms of Rule 29 of the Income Tax (Appellate Tribunal) Rules, 1963. Ground No. 6: Leave to Press, Modify, or Raise New Grounds That

M/S MATERIALS CHEMICALS AND PERFORMANCE INTERMEDIARIES PVT. LTD.,KOLKATA vs. DCIT, CIR-11, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

234C & 234D of the Act of Rs. 399,100, Rs. 1,213,022 & Rs. 252,420 respectively). 4. Aggrieved by the aforesaid original assessment order, the assessee had filed an appeal which is presently pending before the Ld. Commissioner of Income Tax (Appeals)- 22. 5. In the meantime, the AO issued notice under section 148 of the Act dated

ACIT, CC-2(1), KOL, KOLKATA vs. SHALIMAR HATCHERIES LIMITED, KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Assistant Commissioner Of Income Tax,....Appellant Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 3Rd Floor, 110, Shanti Pally, Kolkata-700107 -Vs.- Shalimar Hatcheries Ltd.,......................Respondent 46C, Chowringhee Road, Park Street, 17Th Floor, Everest House, Kolkata-700071 [Pan: Aadcs6537J] - A N D - C.O. No. 13/Kol/2023 (In I.T.A. No. 546/Kol/2023) Assessment Year: 2012-2013 Shalimar Hatcheries Ltd.,..................Cross Objector 46C, Chowringhee Road, Park Street, Kolkata-700071 [Pan: Aadcs6537J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Central Circle-2(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances By: Shri P.P. Barman, Addl. Cit, Appeared On Behalf Of The Revenue

reassessment u/s147. Similarly, it has also been held in various judicial pronouncements that the reasons recorded for initiating the proceedings u/s147, have to speak for themselves. The reasons must provide a live link to the formation of the belief that income had escaped assessment. The reasons cannot keep the assessee guessing fur the reasons for initiating the proceedings u/s147. These

PRISM KNIT FAB PVT. LTD.,KOLKATA vs. I.T.O., CIRCLE-11(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Dr. Manish Borad & Sonjoy Sarma

reassessment proceedings and the resultant order dated 26th December, 2019 passed under section 143(3)/147 of the Act are without jurisdiction, illegal, invalid in as much as the reasons recorded by the Learned AO does not satisfy the requirements of section 147 of the Act. d. That the Learned AO having recorded the reasons without following the directions contained

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. I M C LTD, KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.]" Perusal of Section 14A of the Act provides that it mandates disallowance of expenditure 'in relation

M/S. IMC LTD.,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.]" Perusal of Section 14A of the Act provides that it mandates disallowance of expenditure 'in relation

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. IMC LTD., KOLKATA

Appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.]" Perusal of Section 14A of the Act provides that it mandates disallowance of expenditure 'in relation

SATYAJIT DAS,HOWRAH vs. ITO, WARD-46(4), KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.301/Kol/2020 Assessment Year: 2010-11 Satyajit Das……………………...................................................……Appellant Moubesia, Dhulasimla, Uluberia, Howrah-711315. [Pan: Agvpd4627P] Vs. Ito, Ward-46(4), Kolkata..............................……........……...…..…..Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 14, 2023 Date Of Pronouncing The Order : December 14, 2023 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 20.11.2019 Of The Commissioner Of Income Tax (Appeals)-14, 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 Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “ 1. For That Both The Impugned Order Of Assessment & The Appellate Order Dated 28.12.2017 & 20.11.2019 Respectively Are Bad In Law & Based On Wrong Appreciation Of Facts. 2. For That In The Facts & Circumstances Of The Case, The Ld. Cit(A) Was Not Justified In Law In Sustaining The Assessment, As The Assessing Officer Erred In Law In Invoking

147 before issuance of the Notice u/s. 148 by putting the intention of not evaluating any papers and documents. 13.FOR THAT Ld. CIT(A) failed to appreciate that the Learned Assessing Officer below failed to follow the principles of natural justice and equity provided under Constitution of India. I.T.A No.301/Kol/2020 Assessment year: 2010-11 Satyajit Das 14.FOR THAT