ACIT, CENTRAL CIRCLE - 4(3), KOLKATA vs. M/S. GRD COMMODITIES LTD., , KOLKATA

In the result, the appeals of the Revenue are dismissed and the cross objections of assessee are allowed

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] It(Ss)A Nos.120 To123/Kol/2018 Assessment Years: 2009-10 To 2012-13

reassessment proceedings was bad in law as it did not satisfy the condition precedent in the first proviso to Section 147 of the Act. 18. We also find merit in the alternate contention made by the Ld. AR that the notice u/s 148 of the Act was issued on 31-03-2016 without first forming reasons to believe that income

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’).

u/s 147 r.w.s. 148 of the Act for reopening of the assessment proceedings. He, in this respect, has made the following written submissions along with case laws: “2. The assessee relies on the following decisions in support of its contentions: a) In Trustees of H.E.H. The Nizam’s Supplemet Family Trust vs. CIT [2000] 242 ITR 381 (SC) wherein

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

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.

u/s 194I of the Income Tax Act. The assessee company had claimed the sum as business expenditure. Accordingly to Section 40(a)(ia) of the Income Tax Act, the sold expenditure is not allowable. 8 I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd. On the basis of the above, it appears that

DCIT, CC-1(4), KOLKATA, KOLKATA vs. KKALPANA INDUSTRIES INDIA LIMITED, KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri George Mathan & Shri Sanjay Awasthiआयकर अपील सं/Ita No.452/Kol/2025 (निर्धारण वर्ा / Assessment Year : 2016-2017) Dcit, Cc-1(4), Kolkata Vs Kkalpana Industries India Ltd. 2B, Pretoria Street, Middleton Row, Kolkata-700071 Pan No. :Aabck 2239 D (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate & Ms. Puja Somani, Ca रधजस्व की ओर से /Revenue By : Shri P.N.Barnwal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 24/06/2025 घोषणा की तारीख/Date Of Pronouncement : 25/06/2025 आदेश / O R D E R Per George Mathan, Jm : This Is An Appeal Filed By The Revenue Against The Order Dated 13.11.2024, Passed By The Ld. Cit(A), Kolkata-20, Passed In Din & Order No.Itba/Apl/S/250/2024-25/1070338584(1), For The Assessment Year 2016-2017. 2. Shri P.N.Barnwal, Ld.Cit-Dr Appeared On Behalf Of The Revenue & Shri S.K.Tulsiyan, Advocate With Ms. Puja Somani, Ca, Appeared On Behalf Of The Assessee. 3. A Perusal Of The Appeal Record, We Find That The Appeal Of The Revenue Has Been Filed Belatedly By 28 Days. In This Regard, The Revenue Has Filed An Application For Condonation Of Delay Stating Sufficient Reasons Which Are Plausible & Not Found To Be False. Thus, The Delay Of 28 Days In Filing The Appeal Is Condoned & Appeal Is Admitted For Hearing.

reassessment order u/s 147 of the Act should have been passed within 12 months from the end of the financial year in which the notice under section 148 was served i.e. within 31-03-2022. The assessment order was served on the assessee at its registered email id only on 16-04-2022, thus the assessment order is ante-dated

M/S PARAMOUNT PROPERTIES & ESTATE DEVELOPMENTS LTD.,KOLKATA vs. ITO, WD-3(1), KOLKATA, KOLKATA

In the result, appeal of assessee is allowed on legal grounds

Bench: Shri A. T. Varkey & Shri Waseem Ahmedi.T.A. No.93/Kol/2016 Assessment Year 2005-06 M/S. Paramount Properties & I.T.O., Wd-3(1), Kolkata. P-7, Chowringhee Square, Estate Developments Ltd. -Vs- Kolkata – 700 069. 3, Pretoria Street, 4Th Floor, Kolkata – 700 071. [Pan : Aabcp 8731 B] (Appellant) (Respondent)

section 151 of the IT Act ld. CIT’s approval is required before issue of notice u/s 148 of the IT Act.” 6. In view of above, the Assessing Officer issued notice u/s 148 of the Act. However, the assessee objected on the initiation of reassessment proceedings u/s 147 of the Act on following grounds : (i) At the time

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]

reassessment proceeding was set aside. The initial view was that failure to issue notice is an irregularity, which is curable when subsequently the law is well settled that it being an inherent defect is not curable. To the same effect are the decisions in Principal Commissioner of Income Tax-vs-Jai Shiv Shankar Traders Pvt. Ltd. 383 ITR 448 (Delhi

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]

reassessment proceeding was set aside. The initial view was that failure to issue notice is an irregularity, which is curable when subsequently the law is well settled that it being an inherent defect is not curable. To the same effect are the decisions in Principal Commissioner of Income Tax-vs-Jai Shiv Shankar Traders Pvt. Ltd. 383 ITR 448 (Delhi

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]

reassessment proceeding was set aside. The initial view was that failure to issue notice is an irregularity, which is curable when subsequently the law is well settled that it being an inherent defect is not curable. To the same effect are the decisions in Principal Commissioner of Income Tax-vs-Jai Shiv Shankar Traders Pvt. Ltd. 383 ITR 448 (Delhi

G. S. ATWAL & CO. (ENGG.) PVT. LTD.,KOLKATA vs. DCIT, CEN. CIR-XX, KOLKATA, KOLKATA

The appeal of the assessee is allowed

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

section 147." ITA No.1421/Kol/2014-G.S.Atwal & Co.(Engg.)Pvt.Ltd. A.Y.2007-08 7 (3) Asteroids Trading & Investment P. Ltd. vs DClT (2009) 308 lTR 190 (Bom), in the said case, it was held that since no new material brought on record, reassessment on change of opinion of officer not valid. (4) Asian Paints Ltd. vs. DCIT (2008) 308 ITR 195 (Bom), in this case

V2 RETAIL LTD.,KOLKATA vs. DCIT, CIRCLE - 10(2), KOLKATA , KOLKATA

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

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

69,61,226/-. The assessee had carried the matter in appeal and was granted part relief. 4. The AO re-opened assessment u/s 147 of the Act for the second time by recording following reasons: “The assessment was completed u/s.143(3) of the I.T. Act, 1961 on 12.05.2010 at a total income of Rs.53,02,64,480/-. Subsequently information

DCIT, CIRCLE - 10(2), KOLKATA , KOLKATA vs. M/S. V2 RETAIL LTD., NEW DELHI

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

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

69,61,226/-. The assessee had carried the matter in appeal and was granted part relief. 4. The AO re-opened assessment u/s 147 of the Act for the second time by recording following reasons: “The assessment was completed u/s.143(3) of the I.T. Act, 1961 on 12.05.2010 at a total income of Rs.53,02,64,480/-. Subsequently information

BHARGAB ENGINEERING WORKS,HOWRAH vs. PCIT, CENTRAL KOLKATA 2, , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

69,565/- to the income assessed under section 143(3) vide order dated 21.04.2021 at Rs.95,28,160/-. The ld. PCIT, Central Circle-2, Kolkata thereafter, examined the record and observed certain discrepancies from the from the assessment record and the order under section 147 r.w.s. 143(3) dated 30.03.2023 was considered as erroneous and prejudicial to the interest

GANAPATI DEVELOPERS ,HOWRAH vs. A.C.I.T.,CIRCLE-47, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Smt. Madhumita Roy)

section 147 of the Act. There was no reference to any document or statement, except the annexure. The annexure could not be regarded as a material or evidence that prima facie showed or established nexus or link which disclosed escapement of income. The annexure was not a pointer and did not indicate escapement of income. (iv) Further, the Assessing Officer

PURPLE SUPPLIERS PVT. LTD.,SURAT, GUJRAT vs. A.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

In the result, all the three appeal for AYs 2011-12 to 2013-14 of the assessee are allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. Nos.757 To 759/Kol/2022 Assessment Years: 2011-12 To 2013-14 Purple Suppliers Pvt. Ltd. ………. Appellant (Pan: Aafcp2218P) Vs. Asstt. Commissioner Of Income Tax, Circle-5(1), Kolkata. ………… Respondent Appearances By: Shri Anil Kochar, Advocate Appeared For Appellant. Shri Subhendu Datta, Cit, Dr Appeared For Respondent. Date Of Concluding The Hearing : 28.05.2024 Date Of Pronouncing The Order : 26.08.2024 Order Per Manish Borad: The Captioned Appeals Filed At The Instance Of The Assessee Pertaining To The Assessment Years (In Short “Ay”) 2011-12 To 2013-14 Are Directed Against The Separate Orders Passed U/S 250 Of The Income Tax Act, 1961 (In Short The “Act”) By Ld. Commissioner Of Income-Tax, Appeal, National Faceless Appeal Centre (Nfac), Delhi [In Short Ld. “Cit(A)”] Dated 03.11.2022 Arising Out Of The Separate Assessment Orders U/S 143(3)/147 Of The Act By Acit, Circle-5(1), Kolkata Dated 31.12.2018. Since Grounds Of Appeal Raised In These Appeals Are Common & Facts Are Identical, Except Variance In Amount, With The Consent Of Both The Parties, We Proceed To Dispose Of All These Appeals By This Consolidated Order For The Sake Of Brevity & Convenience.

147 of the Act and that the reopening of the assessment u/s 148 of the Act is valid and lawful. 3. For that issue of notice u/s 148 of the Act by the A.O. proceeded on non-appreciation of the factual aspect of the case of the appellant and the Ld. CIT (A) erred in holding that A.O. was correct

PURPLE SUPPLIERS PVT. LTD.,SURAT, GUJRAT vs. A.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

In the result, all the three appeal for AYs 2011-12 to 2013-14 of the assessee are allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. Nos.757 To 759/Kol/2022 Assessment Years: 2011-12 To 2013-14 Purple Suppliers Pvt. Ltd. ………. Appellant (Pan: Aafcp2218P) Vs. Asstt. Commissioner Of Income Tax, Circle-5(1), Kolkata. ………… Respondent Appearances By: Shri Anil Kochar, Advocate Appeared For Appellant. Shri Subhendu Datta, Cit, Dr Appeared For Respondent. Date Of Concluding The Hearing : 28.05.2024 Date Of Pronouncing The Order : 26.08.2024 Order Per Manish Borad: The Captioned Appeals Filed At The Instance Of The Assessee Pertaining To The Assessment Years (In Short “Ay”) 2011-12 To 2013-14 Are Directed Against The Separate Orders Passed U/S 250 Of The Income Tax Act, 1961 (In Short The “Act”) By Ld. Commissioner Of Income-Tax, Appeal, National Faceless Appeal Centre (Nfac), Delhi [In Short Ld. “Cit(A)”] Dated 03.11.2022 Arising Out Of The Separate Assessment Orders U/S 143(3)/147 Of The Act By Acit, Circle-5(1), Kolkata Dated 31.12.2018. Since Grounds Of Appeal Raised In These Appeals Are Common & Facts Are Identical, Except Variance In Amount, With The Consent Of Both The Parties, We Proceed To Dispose Of All These Appeals By This Consolidated Order For The Sake Of Brevity & Convenience.

147 of the Act and that the reopening of the assessment u/s 148 of the Act is valid and lawful. 3. For that issue of notice u/s 148 of the Act by the A.O. proceeded on non-appreciation of the factual aspect of the case of the appellant and the Ld. CIT (A) erred in holding that A.O. was correct

PURPLE SUPPLIERS PVT. LTD.,SURAT, GUJRAT vs. A.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

In the result, all the three appeal for AYs 2011-12 to 2013-14 of the assessee are allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. Nos.757 To 759/Kol/2022 Assessment Years: 2011-12 To 2013-14 Purple Suppliers Pvt. Ltd. ………. Appellant (Pan: Aafcp2218P) Vs. Asstt. Commissioner Of Income Tax, Circle-5(1), Kolkata. ………… Respondent Appearances By: Shri Anil Kochar, Advocate Appeared For Appellant. Shri Subhendu Datta, Cit, Dr Appeared For Respondent. Date Of Concluding The Hearing : 28.05.2024 Date Of Pronouncing The Order : 26.08.2024 Order Per Manish Borad: The Captioned Appeals Filed At The Instance Of The Assessee Pertaining To The Assessment Years (In Short “Ay”) 2011-12 To 2013-14 Are Directed Against The Separate Orders Passed U/S 250 Of The Income Tax Act, 1961 (In Short The “Act”) By Ld. Commissioner Of Income-Tax, Appeal, National Faceless Appeal Centre (Nfac), Delhi [In Short Ld. “Cit(A)”] Dated 03.11.2022 Arising Out Of The Separate Assessment Orders U/S 143(3)/147 Of The Act By Acit, Circle-5(1), Kolkata Dated 31.12.2018. Since Grounds Of Appeal Raised In These Appeals Are Common & Facts Are Identical, Except Variance In Amount, With The Consent Of Both The Parties, We Proceed To Dispose Of All These Appeals By This Consolidated Order For The Sake Of Brevity & Convenience.

147 of the Act and that the reopening of the assessment u/s 148 of the Act is valid and lawful. 3. For that issue of notice u/s 148 of the Act by the A.O. proceeded on non-appreciation of the factual aspect of the case of the appellant and the Ld. CIT (A) erred in holding that A.O. was correct

PRICE WATERHOUSE & CO., [NOW KNOWN AS PRICE WATERHOUSE & CO. CHARTERED ACCOUNTANTS LLP],KOLKATA vs. DCIT, CIRCLE - 22, , KOLKATA

In the result, appeal filed by the assessee is allowed

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Vs. Dcit, Circle-22, Kolkata Price Waterhouse & Co, Kolkata (Now Versus Known As Price Waterhouse & Co Chartered Accountants Llp)

u/s 147 of the Act. Therefore, the reassessment proceedings in the assessee`s case is not valid. 10. We note that in the instant case, reassessment was initiated by the ld. A.O on account of the following reasons: (a) Professional receipt of 10,60,834/- is not assessable under the head profits and gains from business or profession, but under

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

69 Taxman 627 (SC). 13. We have considered the rival submissions. In the present case, the facts on record and reasons recorded clearly show that all facts were available before the AO when he completed the original assessment proceedings u/s. 143(3) of the Act. From a perusal of the reasons recorded by the AO before issuing notice u/s