ITO,WARD-11(1), KOLKATA, KOLKATA vs. M/S. SREI CAPITAL MARKETS LTD., KOLKATA

In the result, Revenue’s appeal is dismissed as infructuous

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2008-09

u/s 143(1) of the Act. Accordingly, the AO found his belief that the income of the assessee has escaped assessment under section 147 of the Act and accordingly issued notice under section 148 of the act after recording the reasons as detailed under:- “8.07.10. On examination of assessment records and perusal of the profit and loss accounts reveals that

D.C.I.T., CENTAL CIRCLE - 3(3) KOLKATA, KOLKATA vs. SHRI BISWANATH GARODIA, KOLKATA

In the result, all the appeals of the revenue are dismissed and cross objections of assessee are also dismissed being academic in nature

Bench: Shri A. T. Varkey, Jm & Dr. (Shri) Arjunlalsaini, Am]

147 shall apply as they apply for the purposes of that section. (2) The provisions of sub­section (1) as to the issue of notice shall be subject to the provisions of section 151. (3) If the person on whom a notice under section 148 is to be served is a person treated as the agent of a non­resident under section

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

M/S. JAGMAG MERCANTILES PRIVATE LIMITED.,KOLKATA vs. ITO, WARD 12(1), , KOLKATA

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

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

u/s 143(3) of the Act ,can only be made after a lapse of four years from the end of the ITA No. 708 & 709/KOL/2025 M/s Jagmag Mercantiles Private Limited; A.Ys. 2013-14 & 2014-15 relevant assessment year, if there is a failure on the part of the assessee to truly and materially disclose the information in the return

M/S. JAGMAG MERCANTILES PRIVATE LIMITED,KOLKATA vs. ITO, WARD 12(1), , KOLKATA

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

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

u/s 143(3) of the Act ,can only be made after a lapse of four years from the end of the ITA No. 708 & 709/KOL/2025 M/s Jagmag Mercantiles Private Limited; A.Ys. 2013-14 & 2014-15 relevant assessment year, if there is a failure on the part of the assessee to truly and materially disclose the information in the return

I.T.O WD - 1(4),KOLKATA, KOLKATA vs. M/S ORCHID GRIHA NIRMAN, KOLKATA

In the result, the appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 2269/Kol/2013 Assessment Year : 2008-09 I.T.O., Ward-1(4) -Vs.- M/S. Orchid Griha Nirman Pvt. Ltd. Kolkata Kolkata [Pan : Aaaco 7148 L] (Respondent) (Appellant) For The Appellant : Shri Angam Shaiza, Cit For The Respondent : (I) Shri J.P.Khaitan, Sr.Advocate (Ii)Shri S.Jhajharia, Fca (Iii) Shri Sujoy Sen, Advocate

u/s 148 be issued.” The reasons recorded do not refer to the provisions of section 45(3) of the Act and it is not suggested in the recorded reasons that any income chargeable to tax under section 45(3) of the Act had escaped assessment. The assumption of jurisdiction under section 147 cannot be justified upon the basis that income

SILKINA COMMODEAL PVT. LTD. ,KOLKATA vs. ITO,WARD-3(3), KOLKATA. , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Years: 2011-12 Silkina Commodeal Pvt. Ltd. Income Tax Officer, Ward- 6, Waterloo Street, Kolkata- Vs. 3(3), Kolkata. 700069. (Pan: Aaecs5627C) (Appellant) (Respondent)

260/-. Aggrieved, assessee went in appeal before the Ld. CIT(A) contesting both on the legal issues as well as on the merits of the case. 4. Assessee submitted before the Ld. CIT(A) that the amount received by the assessee is towards sale of investment which had been duly accounted and reported in its audited financial statement. Assessee very

DOLPHIN GOODS PVT. LTD.,KOLKATA vs. I.T.O.,WARD-6(1), KOLKATA

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

147 of the Act and after issuing notice u/s. 143(2) of the Act the AO noted that assessee during the relevant assessment year had issued share capital of Rs.28,72,500/- (287250 number of shares at the face value of Rs. 10/- each) and share premium of Rs.10,81,27,500/-. The AO notes that he had issued notice

RANICHERRA TEA CO. LTD. ,KOLKATA vs. ITO, WARD-4(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaassessment Year: 2017-18 Ranicherra Tea Co. Ltd. Ito, Ward-4(4), Kolkata. C/O, P. K. Himatsinghka & Co. 41, B. B. Ganguly Vs. Street, Central Plaza, 2Nd Floor, Kolkata-700012. (Pan: (Appellant) (Respondent)

260/-. Subsequently, case of the assessee was reopened u/s. 147 of the act by stating that reasons for reopening of the case of the assessee prior to issue of notice u/s. 148 of the Act. In response to the notice, assessee has filed its return of income followed by statutory notice u/s. 143(2) as well

SHRI SANAT KUMAR BHATTACHARJEE,KOLKATA vs. ACIT, CIR-27, HALDIA, MIDNAPORE

In the result, the appeals of the assessee are allowed

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 496&497/Kol/2016 Assessment Year : 2003-04 & 2005-06 Shri Sanat Kr. Bhattacharjee -Vs- Acit, Circle-27, Haldia [Pan: Adfpb 6426 K] (Appellant) (Respondent)

reassessments were completed by accepting the returns filed in response to notice u/s 148 of the Act after making minor additions, on which, no penalty has been levied by the ld AO. It is pertinent to note that even after the disclosure petition dated 24.8.2009, notice u/s 148 of the Act was issued by the revenue only

SHRI SANAT KUMAR BHATTACHARJEE,KOLKATA vs. ACIT, CIR-27, HALDIA, MIDNAPORE

In the result, the appeals of the assessee are allowed

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 496&497/Kol/2016 Assessment Year : 2003-04 & 2005-06 Shri Sanat Kr. Bhattacharjee -Vs- Acit, Circle-27, Haldia [Pan: Adfpb 6426 K] (Appellant) (Respondent)

reassessments were completed by accepting the returns filed in response to notice u/s 148 of the Act after making minor additions, on which, no penalty has been levied by the ld AO. It is pertinent to note that even after the disclosure petition dated 24.8.2009, notice u/s 148 of the Act was issued by the revenue only

DCIT, CENTRAL CIRCLE- 4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the Revenue is dismissed

147/ 143(3) vide order dated 14.05.2020,\naccepting the returned income. A search action u/s 132 of the Act was\nconducted on 30.11.2025, and on the subsequent dates on the\npremises of 'Kanodia Group of cases'. The assessee being a group\nentity is also covered under the said search. Notice u/s 148 of the Act\nwas issued

DCIT, C.C.XXVII, KOLKATA, KOLKATA vs. M/S. PRATAP PROPERTIES LTD., KOLKATA

Accordingly, the grounds raised by the revenue for all the assessment years are dismissed

Bench: Hon. Sri Mahavir Singh & Hon. Sri M.Balaganesh

147 of the Act but not u/s 153A of the Act. When accepted by the AO then there is no concealment of income and consequently penalty u/s 271(1)(c ) of the Act cannot be imposed. The concealment of income is to be determined with regard to the return of income in response to notice u/s 153A

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the Revenue is dismissed

147/ 143(3) vide order dated 14.05.2020,\naccepting the returned income. A search action u/s 132 of the Act was\nconducted on 30.11.2025, and on the subsequent dates on the\npremises of 'Kanodia Group of cases'. The assessee being a group\nentity is also covered under the said search. Notice u/s 148 of the Act\nwas issued

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED , PATNA

The appeal of the Revenue is dismissed

147/ 143(3) vide order dated 14.05.2020,\naccepting the returned income. A search action u/s 132 of the Act was\nPage 4\nBalmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24\nBalmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24\nBalmukund Sponge and Iron Private Limited; A.Y. 23-24\nconducted

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

147/ 143(3) vide order dated 14.05.2020,\naccepting the returned income. A search action u/s 132 of the Act was\nPage 4\nconducted on 30.11.2025, and on the subsequent dates on the\npremises of 'Kanodia Group of cases'. The assessee being a group\nentity is also covered under the said search. Notice u/s 148 of the Act\nwas issued

DCIT, CIRCLE - 48, KOLKATA, KOLKATA vs. SANJAY JAISWAL, HOWRAH

In the result, the cross objection of the assessee is allowed , appeals of the assessee and revenue are dismissed as infructuous

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

reassessment or recomputation is made on the assessee or any person in consequence of or to give effect to any finding or direction contained in an order under section 250, 254, 260, 262, 263, or 264 1[or in an order of any court in a proceeding otherwise than by way of appeal or reference under this Act] ; (iii) where

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

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

147/ 143(3) vide order dated 14.05.2020, accepting the returned income. A search action u/s 132 of the Act was Balmukund Lease Fin Private Limited; A.Y. 15-16 to 18-19, 23-24 Balmukund Cement & Roofings Private Limited AYs 15-16 to 21-22, 23-24 Balmukund Sponge and Iron Private Limited; A.Y. 23-24 conducted