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

loss of Rs.2205/-. The return was processed u/s 143(1) of the Act. Thereafter, the case was reopened u/s 147 r.w.s. 148 of the Act as the Assessing Officer received information from the assessee itself that due to oversight, an amount of Rs.35,645/- towards profit on share dealing was not considered as income. The Assessing Officer, thereafter, reopened

SRI UDIT KUMAR DUGAR ,KOLKATA vs. ITO, WARD - 36(4), KOLKATA , KOLKATA

In the result, the appeal of assessee is allowed

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

u/s. 148 of the Act for reopening the assessment, which proposed action of AO was objected to by the assessee on 21.02.2017, which was brushed aside and the reassessment order was passed on 27.12.2017. Since the legal challenge is in respect of the very action of the AO to invoke the jurisdiction to reopen the assessment, as stated above

DCIT, CIRCLE-12(1), KOLKATA, KOLKATA vs. M/S DOTEX MERCHANDISE PVT. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and the cross objections are also dismissed as infructuous

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

set aside the order of the Ld. CIT(A) on the ground that the Ld. CIT(A) had powers which were co-terminus with that of the AO and therefore if there was any omission on the AO’s part to make the addition in respect of the issue for which reasons were recorded u/s 147 then such omission could

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]

loss account or not showing in the same in the Balance Sheet. Therefore the Ld. Counsel argued that the revisionary jurisdiction was wrongly invoked to set aside and cancel reassessment framed u/s 143(3) read with 147

M/S. DEVANSH EXPORTS,KOLKATA vs. ACIT, CIRCLE - 32, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

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]

loss account so as to reduce the real profits and thereby pay less taxes. It has been revealed that the following entries have been received by the assessee:...." 29.2 The details of six entries were then set out in the above 'reasons'. These included name of the beneficiary, the beneficiary's bank, value of the entry taken, instrument number, date

M/S SHREYANS JAIN, HUF,KOLKATA vs. I.T.O.,WARD-36(2), KOLKATA

In the result, appeal of the assessee is allowe

Bench: Sri J. Sudhakar Reddy, Hon’Ble) Assessment Years: 2011-12 M/S. Shreyans Jain, Huf…………….………........................................................……………….…......Appellant 18, R.N. Mukherjee Road Dalhousie Square 6Th Floor Kolkata – 700 001 [Pan : Aaths 2107 P] Vs. Income Tax Officer, Wd-36(2), Kolkata………………………………….............….……....…....Respondent Appearances By: Shri S.M. Surana, Advocate, Appeared On Behalf Of The Assessee. Shri Jayanta Khanra, Jcit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 27Th, 2020 Date Of Pronouncing The Order : March 13Th, 2020 Order Per J. Sudhakar Reddy, Am :-

loss claimed by the assessee. Thus, this is a case where the reopening in question is made claimed by the assessee. Thus, this is a case where the reopening in question is made claimed by the assessee. Thus, this is a case where the reopening in question is made without prima facie verification of the information received

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’).

loss of Rs.4047/-. The return was processed u/s 143(1) of the Act. Thereafter, the case was reopened u/s 147 r.w.s. 148 of the Act as the Assessing Officer on account of escapement of income due to oversight of Rs.58250/- towards profit on share dealing and of Rs 3000/- non admissible expenditure incurred on share allotment. the assessment was completed

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

set of facts, therefore, the order passed by the Ld. CIT(A) is completely arbitrary unjustified and illegal and should be deleted. ITA No.1421/Kol/2014-G.S.Atwal & Co.(Engg.)Pvt.Ltd. A.Y.2007-08 2 3. For that on the facts of the case, the Ld. CIT(A) was wrong in dittoing the order of the A.O. and not considering the facts that the A.O. reopened

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)

loss of Rs. 20,17,97,265/-. Afterward, the assessee`s case was reopened u/s 147 of the Act on the basis of a report / information made available by Income Tax Investigation Wing, Kolkata. The said report stated that a search & seizure operation and post search investigation/ enquiry were carried out in the case of M/s Mandapam Commercial

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)

loss of Rs. 20,17,97,265/-. Afterward, the assessee`s case was reopened u/s 147 of the Act on the basis of a report / information made available by Income Tax Investigation Wing, Kolkata. The said report stated that a search & seizure operation and post search investigation/ enquiry were carried out in the case of M/s Mandapam Commercial

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

loss of revenue to the tune of ₹1,32,30,337/-, rendering the assessment framed u/s 147 of the Act, as erroneous and prejudicial to the interest of the Revenue. Raghuvir Retailers Pvt. Ltd.; A.Y. 2013-14 Accordingly, notice u/s 263 of the Act was issued on 08.01.2024, which were not complied with by the assessee. Thereafter the PCIT

M/S GOLDEN VINCOM PVT LTD,KOLKATA vs. PCIT-1, KOLKATA

In the result, the appeal of the assessee is allowed as per the terms indicated above

Bench: Sri Sanjay Garg & Sri Manish Borad)

147 has not been satisfied. We therefore hold that reassessments orders for A.Y.2007-08 and 2008- 09 dated 30.12.2011 were invalid. Consequently order passed u/s 263 of the Act dated 21.03.2014 for A.Y.2007-08 and 2008-09 are also held to be invalid and quashed. Thus the appeals being ITA No.765 and 766/Kol/2014 are allowed. 17. As far as this appeal

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

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 ]

147 has not been satisfied. We therefore hold that reassessments orders for A.Y.2007-08 and 2008-09 dated 30.12.2011 were invalid. Consequently order passed u/s 263 of the Act dated 21.03.2014 for A.Y.2007- 08 and 2008-09 are also held to be invalid and quashed. Thus the appeals being ITA No.765 and 766/Kol/2014 are allowed. 17. As far as this appeal

DCIT, CIRCLE - 6(1), KOLKATA , KOLKATA vs. M/S. GAURAV ROSE REAL ESTATE PVT. LTD., , KOLKATA

In the result, the appeals of the revenue are dismissed and the cross objection of the different assessees are also dismissed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar] "ी संजय गग" "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य के सम"

reassessment proceedings the income escaped must exceed rupees one lakh as per the limitation set out under the provisions of Section 149(1)(b). When the reasons do not reflect that the income having escaped assessment was more than rupees one lakh or likely to be more than rupees one lakh, the assumption of jurisdiction under Section 147 itself would

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S G.K.ISPAT PRIVATE LIMITED , KOLKATA

In the result, the appeals of the revenue are dismissed and the cross objection of the different assessees are also dismissed

Bench: Shri Sanjay Garg & Shri Rajesh Kumar] "ी संजय गग" "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य के सम"

reassessment proceedings the income escaped must exceed rupees one lakh as per the limitation set out under the provisions of Section 149(1)(b). When the reasons do not reflect that the income having escaped assessment was more than rupees one lakh or likely to be more than rupees one lakh, the assumption of jurisdiction under Section 147 itself would