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]

reassessment or recomputation is made on the assessee or any person in consequence of or to give effect to any finding or direction ITA No.2652/Kol/2019 & CO No. 15/Kol/2020 PCM Strescon Overseas Ventures Ltd., AY 2012-13 contained in an order under section 250, section 254, section 260, section 262, section 263, or section 264 or in an order

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

264 (Mad) held that: “7. Applying the principles enunciated in the judgments of the Supreme Court as well as the Delhi High Court, cited supra, the Tribunal is right in coming to a conclusion that no action could be initiated under Section 147 of the Act, when there is a pendency of the return before the Assessing Officer. The reasons

DCIT,CIRCLE-1, KOLKATA, KOLKATA vs. M/S CHEVIOT CO. LTD., KOLKATA

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

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

u/s. 147 of the Act. When a regular order of assessment is passed in terms of section 143(3) of the Act, a presumption can be raised that such an order has been passed on application of mind. It is well known that a presumption can also be raised to the effect that in terms of section

JCIT(OSD), CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. SICPA INDIA PVT. LTD., KOLKATA

In the result, the CO of assessee is allowed and appeal of revenue is dismissed

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

u/s. 147 of the Act. When a regular order of assessment is passed in terms of section 143(3) of the Act, a presumption can be raised that such an order has been passed on application of mind. It is well known that a presumption can also be raised to the effect that in terms of section

AGRO SERVICE SYNDICATE,KOLKATA vs. ITO, WARD-29(3)), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed for statistical purpose

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2005-06 Agro Service Syndicate V/S. Ito, Ward-29(3), C/O A.K.Dutta & Co. Room Aaykar Bhavan No. 207, 2, Church Lane, (Dakshin), 2, Kolkata-01 Gariahat Road (S), [Pan No.Aaffa 3558 C] Kolkata-68 .. अपीलाथ" /Appellant ""यथ"/Respondent

147 of the Act by making an addition of Rs. 57,20,682/- to the income of the assessee and the total income was enhanced to an amount of Rs. 63,44,100/- 4. The assessee filed an application to the Ld. CIT for revision u/s 264 of the Act on dated 12-12-2011against the assessment order passed

SMT SANTI SARKAR,KOLKATA vs. ITO, WD-37(2), KOLKATA, KOLKATA

In the result, appeal of assessee is allowed

Bench: Shri Mahavir Singh, Jm]

u/s. 148.” 5. From the above reasons it seems that the assessee did not disclose profit on development of sale of land at Mahish Bathan for a sum of Rs.9,86,500/-. The facts relating to that transactions are that the assessee had purchased land at Mahish Bathan jointly with her husband Shri Haridas Sarkar in the year

EPCOS INDIA PRIVATE LIMITED,NADIA vs. A.C.I.T CIR - 11,KOLKATA, KOLKATA

In the result the appeal of the assesee is allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1921/Kol/2013 Assessment Year : 1998-99 Epcos India Pvt. Ltd. -Vs.- A.C.I.T., Circle-11, Kolkata Kolkata [Pan : Aaaci 6950 Q] (Appellant) (Respondent) For The Appellant : Shri Anup Sinha, Ar For The Respondent : Shri Debashis Lahiri, Jcit, Sr.Dr

reassess such income 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, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year; concerned . Provided that where an assessment under

M/S PILANI INVESTMENTS & INDUSTRIES CORP LTD,KOLKATA vs. A.C.I.T CIR - 5,KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

reassessment notice u/s. 148 of the Act to be valid. Aggrieved, assessee came in second appeal before Tribunal. 4. We have heard rival submissions and gone through facts and circumstances of the case. The facts are clear that for the relevant AY 2001-02 assessee filed return of income on 30.10.2001 and original assessment was framed u/s

ADONIS MARKETING (P) LTD.,KOLKATA vs. I.T.O., WARD - 9(1), , KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

reassessment proceedings were initiated in this case, by issuing of notice u/s. 148 of the Act dated 03.09.2010, prior to the end of the limitation period to issue notice u/s. 143(2) of the Act, therefore, the assessment order passed u/s. 143(3)/147 of the Act was null and void. The Ld. Counsel in this respect has relied

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. BASANTI HOSIERY PVT. LTD., , KOLKATA

In the result, the appeal of the revenue is allowed and the cross objection of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri S.S. Viswanethra Ravi, Jm ] I.T.A No. 2147/Kol/2017 Assessment Year : 2009-10 Dcit, Central Circle-2(1), Kolkata -Vs- M/S Basanti Hosiery Pvt. Ltd. [Pan: Aadcb 3168 J] (Appellant) (Respondent) C.O. No. 98/Kol/2018 (Arising Out Of I.T.A No. 2147/Kol/2017) Assessment Year : 2009-10 M/S Basanti Hosiery Pvt. Ltd. -Vs- Dcit, Central Circle-2(1), Kolkata [Pan: Aadcb 3168 J] (Appellant) (Respondent)

reassessment was taken up beyond the period of 4 years, the assessment is bad in law . b) That there is non-application of mind by the assessing officer to the information received by him from DDIT(Inv), Unit-2(1), Kolkata, prior to his formation of a reason to believe that income subject to tax has escaped assessment. 6.The

M/S. TCG LIFESCIENCES PRIVATE LIMITED.(FORMERLY KNOWN AS TCG LIFESCIENCES LTD.,),KOLKATA vs. ACIT, CIRCLE-11(2), KOLKATA, KOLKATA

In the result, appeal of assessee is allowed

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

u/s. 148 read with sec. 147 of the Act as held in the plethora of judgments by the Hon’ble Apex Court and other Hon’ble High courts. 9. Hon’ble Supreme Court in the case of CIT Vs. Kelvinator of India Ltd., (2010) 310 ITR 561 (SC), wherein newly substituted provision of section 147 of the Act with effect

LEMONGRASS DEALTRADE PVT. LTD.,KOLKATA vs. DCIT, CIR. -5(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

reassessment order be quashed.” 4. Facts in brief are that the assessee filed its original return of income of 25.09.2012 declaring total income of Rs. 10,200/- which was selected for scrutiny and assessment u/s 143(3) was framed vide order dated 26.03.2015. Thereafter addition made in the assessment was reduced after giving effect to the order of PCIT u/s

TERAI FRUITS COMPANY,SILIGURI vs. INCOME TAX OFFICER, WARD-1(1), SILIGURI, SILIGURI

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

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

u/s 44AD of the Act. The assessee after receipt of the assessment order applied on plain paper for grant of immunity and had paid tax as well and it was admitted that the assessee did not file Form No. 68 but since substantive compliance had been made, the penalty under section 270A should not have been imposed. He, therefore, requested

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

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, CC-4(1), KOLKATA, KOLKATA vs. M/S. MAAN CAPITAL SERVICES PVT. LTD. , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 1193/Kol/2017 Assessment Year : 2009-10 Dcit,Cc-4(1), Kolkata -Vs- M/S Maan Capital Services Pvt. Ltd. [Pan: Aaccm 0388 G] (Appellant) (Respondent)

u/s. 147 of the Act and these procedures of assessment operate in different fields and have different purposes to be fulfilled altogether. 6.4.3 The expression 'assess or reassess' stated in section 153A(1)(b) has to be understood as below:- 'assess' means assessments to be framed in respect of abated assessment years irrespective of the fact whether there

D.C.I.T., CIRCLE-11 KOLKATA, KOLKATA vs. M/S BISHWANATH TEA CO. LTD., KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

reassessment proceedings have been initiated by the Assessing Officer, upon change of opinion that 100% of the Misc. income was liable to be excluded from the Composite income. It was contended that reopening on such change of opinion was legally unjustified because such reopening did not satisfy the conditions enshrined in the Sec 147 of the I.T. Act viz., reason

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. BHAVYA MERCHANDISE PVT. LTD., , KOLKATA

In the result, appeals by the revenue are dismissed and cross-objections by the assessee are allowed

147, the intention of the legislature and the scheme of the Act for making assessment u/s 153A where search u/s 132 is initiated, is same i.e. in order to make assessment of total income, after having assumed the jurisdiction to assess total income, the powers of AO shall not remain restricted to mere those material which were seized during search