ITO, WARD-6(1), KOLKATA vs. M/S DANIEL COMMODITIES PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.645/Kol/2020 Assessment Year: 2009-10 Ito, Ward-6(1), Kolkata………..…….......................…...……………....Appellant Vs. M/S Daniel Commodities Pvt. Ltd…..........…..........................…..…..... Respondent 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] C.O. 4/Kol/2023 (A/O I.T.A. No.645/Kol/2020) Assessment Year: 2009-10 M/S Daniel Commodities Pvt. Ltd…………….....................…..…..... Cross-Objector 6, Lyons Range, Kolkata – 1. [Pan: Aaccd9344F] Vs Ito, Ward-6(1), Kolkata …………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : February 23, 2024 Date Of Pronouncing The Order : May 07, 2024

147 and notice under section 148 was issued. Validity of I.T.A. No.645/Kol/2020 & C.O. 4/Kol/2023 Assessment Year: 2009-10 M/s Daniel Commodities Pvt. Ltd reopening was not challenged upto Tribunal and additions were challenged on merits only. The Tribunal restored the matter to the Assessing Officer with some directions to reexamine the issue on merits. When the matter came back

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]

548/- without affording any opportunity of being heard. Appreciating the submissions put forth by the appellant, the Hon'ble High Court set aside the orders of the AO as well as the TPO and directed the AO to provide sufficient opportunity of being heard and thereafter pass a speaking order in terms of CBDT Instruction

M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

In the result, both appeal preferred by the revenue (ITA No

Bench: Shri P. M. Jagtap & Shri A. T. Varkey]

548/- without affording any opportunity of being heard. Appreciating the submissions put forth by the appellant, the Hon'ble High Court set aside the orders of the AO as well as the TPO and directed the AO to provide sufficient opportunity of being heard and thereafter pass a speaking order in terms of CBDT Instruction

DCIT, CIR-5(1), KOLKATA, KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey

reassessment order u/s 147 has not been considered by the ld. CIT(A) in the judgment. 9. In the assessment originally completed under section 143(3) vide an order dated 14.12.2009, the total income of the assessee was determined by the Assessing Officer at Rs.553,79,34,548

DCIT, CIR-5(1), KOLKATA, KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey

reassessment order u/s 147 has not been considered by the ld. CIT(A) in the judgment. 9. In the assessment originally completed under section 143(3) vide an order dated 14.12.2009, the total income of the assessee was determined by the Assessing Officer at Rs.553,79,34,548

HEM LATA JHUNJHUNWALA ,KOLKATA vs. ACIT,CIR-11(2), KOLKATA. , KOLKATA

In the result, grounds taken by the assessee in this respect for AY 2011-12 are allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

section 148 of the Act. 7.3. Further, in the assessment order, Ld. AO has mentioned that from the website of NMCE, the broker Sahil was expelled from the membership of the Exchange on account of fraudulent contract notes in support of which screen shots had been annexed to the impugned assessment order. However, the information from the website of NMCE

HEM LATA JHUNJHUNWALA,KOLKATA vs. ACIT, CIR-11(2), KOLKATA. , KOLKATA

In the result, grounds taken by the assessee in this respect for AY 2011-12 are allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

section 148 of the Act. 7.3. Further, in the assessment order, Ld. AO has mentioned that from the website of NMCE, the broker Sahil was expelled from the membership of the Exchange on account of fraudulent contract notes in support of which screen shots had been annexed to the impugned assessment order. However, the information from the website of NMCE

ACIT, CIRCLE-43, KOLKATA, KOLKATA vs. M/S. SHREE HANUMAN IRON WORKS, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M.Balaganesh, Am]

u/s. 148. 4. Thereafter, we note that the A.O. completed the reassessment vide order dated 25.03.2013 and did not accept the explanation of assessee and made an addition of Rs. 1,45,24,300/-. Aggrieved assessee preferred an appeal before Ld. CIT(A) who allowed the legal issue as under: 2.2 Decision: From examination of Assessment record it is seen

M/S. ODYSSEY SHARE BROKING SERVICES,KOLKATA vs. ITO, WARD 35(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

548/-. The said return was initially processed by the AO under section 143(1) of the Act. Subsequently the assessment however was reopened by the AO on the basis of the information received from the Director of Income Tax (Intell & Cr. Inv.), Mumbai. In this regard, a notice under section 148 was issued by him to the 2 I.T.A

JAI JAGANNATH MOVER P. LTD.,KOLKATA vs. I.T.O.,WARD-11(4), KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri A. T. Varkey, Jm]

548/- (15% of Rs.1,56,16,989/-) was added to the total income by treating it as undisclosed investment. Aggrieved, the assessee has preferred an appeal before the Ld. CIT(A) who confirmed the same. Aggrieved by the decision of the Ld. CIT(A) assessee is before this Tribunal and has challenged the legality of the reopening. 2 Jai Jagannath

LAXMIDHAN TRADELINK PVT. LTD.,KOLKATA vs. ITO, WARD-2(2), KOLKATA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

reassessment proceedings. Further, it was submitted that the Ld. AO had simply relied on the third parties enquiry and statement and the information received from DDIT(Inv)-II, Jodhpur to form a belief that the assessee I.T.A. No.: 1428/KOL/2023 Assessment Year: 2011 -12 Laxmidhan Tradelink Pvt. Ltd. raised bogus share capital and that the income of the assessee had escaped