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

7 correlated the information with the accounts of the assessee, he would have mentioned in the reasons recorded that the assessee had received a fund of Rs. 80,00,000/- instead of Rs. 70,00,000/- as mentioned in the reasons recorded. Secondly, the Assessing Officer himself has mentioned in the reasons recorded that the pattern of the transaction indicated

A.C.I.T CIR - 1,HOOGHLY, HOOGHLY vs. M/S JAIRAM DISTRIBUTORS, HOOGHLY

In the result, the appeal of the Revenue is dismissed

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

section 40(a)(ia) of the Act. 4. Before the ld.CIT(A), the only contention of the assessee was that the assessment cannot be re-opened u/s. 147 without issuing of notice u/s. 143(2) of the Act. Further, contended that the AO did not consider the said submission during the course of reassessment proceedings. The CIT(A) sought

A.C.I.T CIR - 36,KOLKATA., KOLKATA vs. M/S SRI RAM COMMERCIAL CO, KOLKATA

In the result, Revenue’s appeal is dismissed

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

Reassessment proceedings is bad in law. 1.1 That the Ld. CIT(A) has erred on facts and in law in confirming the reopening u/s. 148, ignoring the provisions contained in first proviso to section 147 of the Act although the appellant had fully and truly disclosed all material facts necessary for assessment for this assessment year. 1.2 That

M/S TEA PROMOTERS (INDIA) PVT LTD,KOLKATA vs. D.C.I.T RG - 4,KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

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

Reassessment proceedings is bad in law. 1.1 That the Ld. CIT(A) has erred on facts and in law in confirming the reopening u/s. 148, ignoring the provisions contained in first proviso to section 147 of the Act although the appellant had fully and truly disclosed all material facts necessary for assessment for this assessment year. 1.2 That

M/S TEA PROMOTERS (INDIA) PVT. LTD.,KOLKATA vs. DCIT, CIRCLE - 4, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

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

Reassessment proceedings is bad in law. 1.1 That the Ld. CIT(A) has erred on facts and in law in confirming the reopening u/s. 148, ignoring the provisions contained in first proviso to section 147 of the Act although the appellant had fully and truly disclosed all material facts necessary for assessment for this assessment year. 1.2 That

INCOME TAX OFFICER WARD-4(4), KOLKATA vs. M/S TEA PROPOTERS (INDIA) PVT. LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

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

Reassessment proceedings is bad in law. 1.1 That the Ld. CIT(A) has erred on facts and in law in confirming the reopening u/s. 148, ignoring the provisions contained in first proviso to section 147 of the Act although the appellant had fully and truly disclosed all material facts necessary for assessment for this assessment year. 1.2 That

A.C.I.T., CIR-II, KOLKATA, KOLKATA vs. M/S. PHILIPS ELECTRONICS INDIA LTD., KOLKATA

In the result, both the appeals of the assessee as well as the revenue are partly allowed

Bench: : Shri M. Balaganesh

255 ITR 273 (SC) wherein it was held that the Learned AO does not have the jurisdiction to go beyond the net profit shown in the profit and loss account except to the extent provided in Explanation to Section 115JA of the Act. Accordingly, the ground nos. 3 to 5 raised by the revenue are dismissed. 4.6. Disallowance u/s

SANJU JALAN,KOLKATA vs. ITO, WARD 36(3), KOLKATA, KOLKATA

In the result, the appeal is allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A No. 634/Kol/2017 Assessment Year : 2012-13

7 8 Sanju Jalan A.Yr.2012-13 value of the investments may be deemed to be the income of the assessee of such financial year.” 17. In the present case investments of jewellery is duly reflected in the books of accounts of the assesses. Therefore there is no scope of applying the provision of section 69 of the Act. Apart

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

Appeal is allowed

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

7 9. For that the reopening of the assessment for the reasons recorded was not maintainable since the source of the payment for purchase from Bhawarlal Jain group was explained and therefore no other addition on any other issue was called for. ITA No.634/Kol/2017 Sanju Jalan A.Yr.2012-13 6 10. For that the assessee craves leave to add, alter

M/S K.M. KHADIM & CO.,KOLKATA vs. PCIT-1, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

255 (All.) The Ld. A.R. therefore argued that the exercise of jurisdiction by the Ld. PCIT in second round treating the assessment order passed pursuant to the direction by the Ld. PCIT in the first round in the order passed u/s 263 of the Act is contrary to the provisions of the Act. The ld AR contended that the order

SMT. LAXMI DEVI CHINDALIA ,KOLKATA vs. ITO, WARD - 35(3), KOLKATA

In the result, the appeal is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 2241/Kol/2018 Assessment Year : 2010-11 Smt. Laxmi Devi Chindalia Vs. I.T.O, Ward 34(2) Pan: Acopc8728P Kolkata (Appellant) (Respondent) I.T.A No. 2242/Kol/2018 Assessment Year : 2010-11 Shri Aditya Chindalia Vs. I.T.O, Ward 34(2) Pan: Afkpc6363F Kolkata (Appellant) (Respondent)

7 A.Y 2010-11 Smt. Laxmi Devi Chindalia & Shri Aditya Chindalia "SUSPICIOUS AND DIBIOUS TRASANCTION HOW TO BE DEALT WITH: 6.11. The tax liability in the cases of suspicious transactions, is to be assessed on the basis of the material available on record, surrounding circumstances, human conduct, preponderance of probabilities and nature of incriminating information/ evidence available with

SHRI ADITYA CHINDALIA ,KOLKATA vs. ITO, WARD - 34(2), KOLKATA

In the result, the appeal is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 2241/Kol/2018 Assessment Year : 2010-11 Smt. Laxmi Devi Chindalia Vs. I.T.O, Ward 34(2) Pan: Acopc8728P Kolkata (Appellant) (Respondent) I.T.A No. 2242/Kol/2018 Assessment Year : 2010-11 Shri Aditya Chindalia Vs. I.T.O, Ward 34(2) Pan: Afkpc6363F Kolkata (Appellant) (Respondent)

7 A.Y 2010-11 Smt. Laxmi Devi Chindalia & Shri Aditya Chindalia "SUSPICIOUS AND DIBIOUS TRASANCTION HOW TO BE DEALT WITH: 6.11. The tax liability in the cases of suspicious transactions, is to be assessed on the basis of the material available on record, surrounding circumstances, human conduct, preponderance of probabilities and nature of incriminating information/ evidence available with

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

KRISHNA GHOSH,DAKSHIN DINAJPUR vs. ACIT, CC-XX, KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

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

255 and ITAT Delhi in the case of Anil Kumar Bhatia Vs. Krishna Ghosh 2 ACIT reported in 1 ITR (Trib) 484. The CIT-A dismissed the appeal of by observing that there was no regular assessment u/s. 143(3) of the Act prior to the search operation and it is paradoxical to equate the intimation as issued u/sec

ICI INDIA LTD.,KOLKATA vs. DCIT, CIR-10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

reassessment issued under sections 147 and 148 of the Income-tax Act has the effect of superseding the assessment already made on the assessee and thereby removing the finality to the assessment already made, whether or not it is the subject-matter of further proceedings in appeal, revision etc. and therefore intimation does not survive after the issue of notices

DCIT, CIR-10, KOLKATA, KOLKATA vs. M/S ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

reassessment issued under sections 147 and 148 of the Income-tax Act has the effect of superseding the assessment already made on the assessee and thereby removing the finality to the assessment already made, whether or not it is the subject-matter of further proceedings in appeal, revision etc. and therefore intimation does not survive after the issue of notices

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

In the result, Revenue’s appeal is dismissed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

reassessment issued under sections 147 and 148 of the Income-tax Act has the effect of superseding the assessment already made on the assessee and thereby removing the finality to the assessment already made, whether or not it is the subject-matter of further proceedings in appeal, revision etc. and therefore intimation does not survive after the issue of notices

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

reassess the company's income, then it would have stated in section 115J that 'income of the company as accepted by the Assessing Officer'. In the absence of the same and on the language of section 115J, the view taken by the Tribunal was correct and the High Court had erred in reversing the said view of Tribunal. Therefore