SARDA MINES PVT. LIMITED,KOLKATA vs. DCIT, CIRCLE-05(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd...............................………………………………………………Appellant 6Th Floor, Circular Court, 8, Ajc Bose Road, Kolkata – 700017. [Pan : Aahcs 2419 R] D.C.I.T., Cir 5(2) Kolkata………………………………………………......................Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 69 Appearances By: Shri A.K. Gupta, Fca Appearing On Behalf Of The Assessee. Md. Usman, Cit Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 21, 2017 Date Of Pronouncing The Order : December 14, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Principal Cit – 2, Kolkata Dated 28.03.2017 Passed Under Section 263 Of The Income Tax Act, 1961 & The Grounds Raised By The Assessee Therein Read As Under: “1. For That The Order Passed Under Section 263 Of The Income Tax Act, 1961 (In Short ‘The Act’) By The Principal Commissioner Of Income Tax -2, Kolkata (In Short ‘Cit’) Dated 28.03.2017 Is Without Jurisdiction & Illegal As None Of The Condition Precedent For Exercise Of The Power Under Section 263 Of The Act Exists And/Or Has Been Satisfied & As Such The Said Order Is Erroneous & Without Jurisdiction & Liable To Be Cancelled. 2. For That The Order Passed By The Assessing Officer Was Not In Any Way Erroneous Or Prejudicial To The Interest Of Revenue & As Such The Cit Would Not Exercise Any Power Under Section 263 Of The Act. The Cit Erred In Holding That The Order Of Assessment Is Erroneous & Prejudicial To The Interest Of Revenue.

reassessment. 7. For that full and complete enquiry was made in respect of the allowance/disallowance of operational and incidental expenses as admittedly 50% of the same was disallowed and as such the CIT was precluded from setting aside the assessment on this ground in view of the judgement of the Hon’ble Supreme Court of India reported in the case

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]

reassessment and initiation of proceeding u/s. 147 of Income Tax Act, 1961. b) That the original assessment having been completed u/s. 143(3), initiation of re- assessment proceeding beyond four years period was invalid in law without establishing the failure on the part of the assessee company to disclose fully & truly all material facts for its assessment for the relevant

DEEPAK BAJAJ ,KOLKATA vs. ITO, WARD 40(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

u/s 143(3) of the Act , whereas the ld. PCIT has set aside and revised the reassessment order under section 143(3) read with section 147 dated 18.12.2013 and consequently the revisionary jurisdiction of the ld. PCIT cannot be sustained. The case of the assessee finds force from the decision in the case of CIT –vs.- Alagendran Finance Limited (supra

ACIT (OSD), WARD - 12(3), KOLKATA, KOLKATA vs. M/S. AMRABATHI INVESTRA PVT. LTD., KOLKATA

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

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10)

section 147 of the Act, therefore, the proceeding u/s.147 against the assessee should be dropped. It was further required by the assessee to provide the reason for re-opening the case which was duly provided by Amrabathi Investra Pvt. Ltd. ITA Nos.231 & 365/Kol/2017 Assessment Year:2009-10 the assessing officer. The assessee further filed written submission dated 25.07.2016 in which

AMRABATHI INVESTRA PVT. LTD.,KOLKATA vs. ITO, WARD - 12(3), KOLKATA, KOLKATA

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

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10)

section 147 of the Act, therefore, the proceeding u/s.147 against the assessee should be dropped. It was further required by the assessee to provide the reason for re-opening the case which was duly provided by Amrabathi Investra Pvt. Ltd. ITA Nos.231 & 365/Kol/2017 Assessment Year:2009-10 the assessing officer. The assessee further filed written submission dated 25.07.2016 in which

RAGHUVIR RETAILERS PVT. LTD.,KOLKATA vs. PCIT-2, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2 Raghuvir Retailers Pvt. Ltd. Aaykar Bhavan P-7, Mandawa Shikhar, 151, Sarat Chowringhee Square, Kolkata- Bose Road, Kolkata-700026, Vs. 700069, West Bengal West Bengal (Respondent) (Appellant) Pan No. Aaecr8231M Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 19.12.2024 Date Of Pronouncement : 11.02.2024

50,55,000/- u/s 69A of the Act to the income of the assessee instead of Rs. 2,52,42,000/- and calculated the taxes accordingly. Therefore, the amount received from M/s Sheetal Steel amounting to ₹2,01,87,000/- was not added back, whereas the said amount was clearly mentioned by the ld. AO in Para 2 of page

SRI NEERAJ UMA SHANKAR MURARKA,MUMBAI vs. ITO, WARD - 35(2), KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

50,71,830/- and the amount paid as commission have escaped and the amount paid as commission have escaped assessment for the assessment year 2009 assessment for the assessment year 2009-10." Having gone through the reasons recorded by the assessing officer, as mentioned above, we notice Having gone through the reasons recorded by the assessing officer, as mentioned above

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD-8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

50,810/-. 4. The assessee challenged the order before the Ld. CIT(A). The Ld. CIT(A) dismissed ground raised by the assessee challenging the reopening of assessment u/s 147 by observing and holding as under: “7.3. The contentions of the appellant have been duly considered. In my considered view, the information available with the AO of high volume

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD-8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

50,810/-. 4. The assessee challenged the order before the Ld. CIT(A). The Ld. CIT(A) dismissed ground raised by the assessee challenging the reopening of assessment u/s 147 by observing and holding as under: “7.3. The contentions of the appellant have been duly considered. In my considered view, the information available with the AO of high volume

M/S. AJANTA MERCHANTS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

50,810/-. 4. The assessee challenged the order before the Ld. CIT(A). The Ld. CIT(A) dismissed ground raised by the assessee challenging the reopening of assessment u/s 147 by observing and holding as under: “7.3. The contentions of the appellant have been duly considered. In my considered view, the information available with the AO of high volume

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

In the result, appeal of assessee is allowed

Bench: Shri Mahavir Singh, Jm]

Reassessment Proceeding and more particularly, the assumption of jurisdiction u/s. 147 for being made solely for review and re-verification of the existing Evidence, earlier produced and examined in course of previous Sec. 143(3) proceeding, is grossly contrary to the provisions of law and therefore liable to be quashed.” 3. Ld. Sr. DR has not objected the admission

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

MADHUBAN DEALERS PVT. LTD. PRESENTLY KNOWN AS MADHUBAN DEALERS LLP,KOLKATA vs. PCIT-13, KOLKATA

In the result, the appeal of assessee allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

reassessment proceeding u/s. 147 of the Act. In response, the office of the ITO, Ward-4(1), Kolkata had provided the same under the covered letter dated 14.07.2021. The Ld. AR submitted that on perusal of the sanctioned/approved proforma a copy of which is filed at pages 34 and 35 of the paper book filed by the AO in terms

M/S VENKATESWAR MEDICARE PVT. LTD.,ITO, WARD-2(1) vs. ITO, WARD-2(1), KOLKATA

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

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

147 to 151 of the Income Tax Act, 1961, without any saving clause does not arise and such exercise by the authority under TOLA under the aforesaid two notifications by the CBDT in conflict of the relevant provisions under Finance Act, 2021 is wholly unwarranted and bad in law. iii. The erstwhile regime of Section 148 of the Act (applicable

M/S VENKATESWAR MEDICARE PVT. LTD.,KOLKATA vs. ITO, WARD 2(1), KOLKATA

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

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

147 to 151 of the Income Tax Act, 1961, without any saving clause does not arise and such exercise by the authority under TOLA under the aforesaid two notifications by the CBDT in conflict of the relevant provisions under Finance Act, 2021 is wholly unwarranted and bad in law. iii. The erstwhile regime of Section 148 of the Act (applicable

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.

147 of the Income Tax Act, 1961. It has been stated by the AR of the appellant that notice u/s 148 of the Act was issued on 30.03.2015 by the ITO, Ward-5(3), New Delhi. The contention of the appellant is that the issue of notice u/s 148 by the ITO, Ward-5(3), New Delhi is beyond jurisdiction

M/S CLASSIC FLOUR AND FOOD PROCESSING PVT LTD.,KOLKATA vs. ITO, WD-11(4), KOLKATA, KOLKATA

In the result, ITA No. 765 & 766/Kol/2014 are allowed while ITA

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

Section 147 of the I. T. Act,1961 is invoked. Issue notice U/S 148 of the I. T. Act, 1961 to the assessee.” 4. An order of assessment dated 30.12.2011 was passed for both A.Y.2007-08 and 2008-09 in which the AO has recorded the fact that during the previous year relevant to A.Y.2007-08 and 2008-09 the assessee

PKC SECURITIES ,KOLKATA vs. I.T.O.,WARD-35(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

reassessment order be quashed. 14. For that the sanction u/s 151 of the IT Act 1961 before the reopening of assessment u/s 148 of the IT Act 1961 was mechanical and without application of proper mind and the sanction was bad in law and hence the reopening be held to be bad in law. 15. For that the facts