M/S VINAYAK FINANCIAL CONSULTANTS PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE-4(1), KOLKATA

In the result, appeal of the assessee is partly allowed for statistical\npurposes

unexplained cash credit u/s 68 and why consequent penalty proceedings should not\nbe initiated against you.\nYou are therefore offered with an opportunity to fumish your submission (including opportunity\nof personel hearing, if desired by you) to this show cause notice on or before 27.01.2022 at\n1.00 pm failing which action will be taken as per law.\nIn case

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]

investment. 10. Similar issue had arisen before this Court in Ranbaxy Laboratories Ltd. v. CIT, [2011] 336 ITR 136/ 200 Taxman 242/ 12 Taxmann.com 74 (Delhi). In the said case, the Division Bench had also examined Explanation 3 to Section 147, which was inserted by Finance (No. 2) Act of 2009 with retrospective effect from 1st April, 1989. Reference

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]

u/s 147 of the Act, the AO did not make any addition on account of unexplained investment in construction. It is the plea of the assessee that when no addition is made on the grounds on which re-assessment proceedings are initiated then no other addition can be made in such reassessment

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. SURESH KUMAR BANTHIA, KOLKATA

In the result, the appeal of the Revenue is dismissed and the Cross\nObjection of the assessee is partly allowed

unexplained money\nand also added towards interest earned of ₹1,64,92,500/- in the\nassessment framed u/s 147 of the Act dated 21.03.2022.\n3.3. The Id. CIT (A) in the appellate proceedings, allowed the appeal\nof the assessee by quashing the assessment framed u/s 147 of the\nAct on the ground of being invalid and void ab initio

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]

unexplained deposits in its bank account of and of making undisclosed investment in property, cannot be faulted. As regards, the contention of the appellant that no notice u/s 143(2) was issued and therefore the reassessment is invalid, it is noted that the AO in para 3 of the assessment order has noted that the appellant filed some documents

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]

unexplained deposits in its bank account of and of making undisclosed investment in property, cannot be faulted. As regards, the contention of the appellant that no notice u/s 143(2) was issued and therefore the reassessment is invalid, it is noted that the AO in para 3 of the assessment order has noted that the appellant filed some documents

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]

unexplained deposits in its bank account of and of making undisclosed investment in property, cannot be faulted. As regards, the contention of the appellant that no notice u/s 143(2) was issued and therefore the reassessment is invalid, it is noted that the AO in para 3 of the assessment order has noted that the appellant filed some documents

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

unexplained money u/s 69A of the Act in the assessment framed u/s 147 of the Act dated 28.09.2021, received from two parties i.e. M/s Dhanlaxmi Trading Company & M/s City Sarees. 04. The ld. PCIT thereafter on perusal of the assessment order noted that the assessment u/s 147 of the Act was based on the information that assessee has received money

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 ]

u/s 147 of the Act, the AO did not make any addition on account of unexplained investment in construction. It is the plea of the assessee that when no addition is made on the grounds on which re-assessment proceedings are initiated then no other addition can be made in such reassessment

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"

unexplained cash credit u/s 68 of the Act. 3 I.T.A. No.2407 & 2408/Kol/2019 C.O No. 55 & 56/Kol/2019 Assessment Year: 2011-12 M/s Gaurav Rose Real Estate Pvt. Ltd. M/s G.K. Ispat Pvt. Ltd. 4. That the appellant craves for leave to add, delete and modify any of the grounds of appeal before or at the time of hearing. 4. By virtue

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"

unexplained cash credit u/s 68 of the Act. 3 I.T.A. No.2407 & 2408/Kol/2019 C.O No. 55 & 56/Kol/2019 Assessment Year: 2011-12 M/s Gaurav Rose Real Estate Pvt. Ltd. M/s G.K. Ispat Pvt. Ltd. 4. That the appellant craves for leave to add, delete and modify any of the grounds of appeal before or at the time of hearing. 4. By virtue

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 :-

unexplained income of the assessee company. The information on the basis of which the AO has initiated proceedings company. The information on the basis of which the AO has initiated proceedings company. The information on the basis of which the AO has initiated proceedings u/s 147 of the Act u/s 147 of the Act are undoubtedly vague and uncertain

ANANDA PAUL,KOLKATA vs. ACIT, CIRCLE-50, KOLKATA, KOLKATA

In the result, assessee’s appeal stands are allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2007-08 Ananda Paul V/S. Acit, Circle-50, Cf-125, Salt Lake City, Manicktala Civic Centre, Kolkata-64 Uttarpan Complex, Ds- [Pan No.Afkpp 2201 D] 2&3, Kolkata-54 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri S.K. Tulsiyan, Advocate अपीलाथ" क" ओर से/By Appellant Shri S. Dasagupta, Addl. Cit-Dr ""यथ" क" ओर से/By Respondent 12-02-2018 सुनवाई क" तार"ख/Date Of Hearing 20-04-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-Xxxii, Kolkata Dated 05.11.2014. Assessment Was Framed By Acit, Circle-50 Kolkata U/S 147/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 30.12.2011 For Assessment Year 2007-08. Shri, S.K. Tulsiyan, Ld. Advocate Appeared On Behalf Of Assessee & Shri S. Dasgupta, Ld. Departmental Representative Appeared On Behalf Of Revenue. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1) That On The Fats & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Not Treating The Re-Assessment Proceeding U/S 143(3)/147 Of The It Act, 1961 As Invalid, Bad In Law, Unjust & Contrary To The Facts & Law. 2) That On The Facts & In Respect To The Circumstances Of Thee Case, The Ld. Cit(A) Erred In Confirming The Assessment Order Passed U/S. 143(3)/147 Of The It Act, 1961 By The Ld. Ao As Proper & Valid Without Considering The

147." (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, the Hon'ble High Court observed that mere

M/S. EMTA COAL LTD.,( ERSTWHILE KNOWN AS M/S. EASTERN MINERAL & TRADING AGENCY ) ,KOLKATA vs. ACIT, CENTRAL CIRCLE - 3(1) , KOLAKTA

In the result, the appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Aby T. Varkey, Hon’Ble) Assessment Year: 2010-11 M/S. Emta Coal Ltd…………………………………………..............................…….............Appellant 5B, Nandlal Basu Sarani Kolkata – 700 071 [Pan : Aacce 3506 G]

Investment Corpn. Of UP Ltd. 332 ITR 0324 g) The ld. counsel for the assessee further argued that, w e ld. counsel for the assessee further argued that, when the assessment has been hen the assessment has been first reopened on 21/03/2014on identical reasons on 21/03/2014on identical reasons and such reopened assessment and such reopened assessment was neither 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

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

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.

unexplained cash credit u/s. 68 of the Act, ignoring the facts that the assessee failed to produce any director for verification of identity, creditworthiness and genuineness of transaction. 2. That the appellant subtly avoided the onus to produce any director for verification of identity, creditworthiness and genuineness of transaction. 3. That on the facts and circumstances of the case

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

reassessment but the assessing officer rejected the contention of the assessee and framed the assessment u/s 143(3)/147 of the Act by making additions under the head unexplained cash credit to the tune of Rs.20,83,600/- and u/s 37(1) of the Act to the tune of Rs.50,67,063/-. 4. Aggrieved by the order of the Assessing

PANDROL RAHEE TECHNOLOGIES PVT. LTD., ,KOLKATA vs. ITO, WARD - 8(3), KOLKATA , KOLKATA

In the result, appeals filed by the assessee in ITA Nos

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am

reassessment but the assessing officer rejected the contention of the assessee and framed the assessment u/s 143(3)/147 of the Act by making additions under the head unexplained cash credit to the tune of Rs.20,83,600/- and u/s 37(1) of the Act to the tune of Rs.50,67,063/-. 4. Aggrieved by the order of the Assessing