ITO, WARD-12(3), KOLKATA, KOLKATA vs. M/S SPLENDOUR VILLA MAKERS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1768/Kol/2016 Assessment Year : 2012-13 Ito, Ward-12(3), Kolkata -Vs- M/S Splendour Villa Makers Pvt. Ltd. [Pan: Aahcs 9726 M] (Appellant) (Respondent)

section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 27.03.2015 for the Assessment Year 2012-13. 2. The first issue to be decided in this appeal is as to whether the ld CITA was justified in deleting the addition made towards share capital in the sum of 1,80,00,000/- u/s 68

ITO, WARD - 6(1), KOLKATA , KOLKATA vs. M/S. DELIGHT GRIH NIRMAN PVT. LTD., , KOLKATA

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1755/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13)

23. Our attention was also drawn to the decision of the Hon'bleSupreme Court while dismissing SLP in the case of Lovely Exports as has been reported as judgment delivered by the CTR at 216 CTR 295: "Can the amount of share money be regarded as undisclosed income under section 68 of the Income tax Act, 1961? We find

M/S. MATARANI VINTRADE PVT. LTD., ,KOLKATA vs. ITO, WARD - 15(1), KOLKATA , KOLKATA

Bench: Hon’Ble Shri P.M. Jagtap, V.P (Kz) & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2012-13

10, which was allotted at a premium of Rs. 1900/- per share, amount of Rs. 21,38,00,000/- was collected from said thirty eight (38) companies, which have been thoroughly enquired by the AO during the assessment proceedings. The Ld. AR drew our attention to the voluminous paper book (843 pages), and stated that all those documents were submitted

DOLPHIN GOODS PVT. LTD.,KOLKATA vs. I.T.O.,WARD-6(1), KOLKATA

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]

10 Dolphin Goods (P) Ltd., AY 2009-10 well as the creditworthiness of his creditor, the burden of the assessee to prove the genuineness of the transactions as well as the creditworthiness of the creditor must remain confined to the transactions, which have taken place between the assessee and the creditor. What follows, as a corollary, is that

I.T.O.,WARD-9(3), KOLKATA vs. M/S REWARD HIRISE PVT. LTD., KOLKATA

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

23. Our attention was also drawn to the decision of the Hon'ble Supreme Court while dismissing SLP in the case of CIT v. Lovely Exports (P.) Ltd. as has been reported as judgment delivered by the CTR at [2008] 216 CTR 195: "Can the amount of share money be regarded as undisclosed income under section 68

I.T.O.,WARD-9(3), KOLKATA vs. M/S REWARD HIRISE PVT. LTD., KOLKATA

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

23. Our attention was also drawn to the decision of the Hon'ble Supreme Court while dismissing SLP in the case of CIT v. Lovely Exports (P.) Ltd. as has been reported as judgment delivered by the CTR at [2008] 216 CTR 195: "Can the amount of share money be regarded as undisclosed income under section 68

TRADELINK CARRYING PVT. LTD.,KOLKATA vs. I.T.O.,WARD-4(1), KOLKATA

Bench: Shri A.T. Varkery, Am ]

23. Our attention was also drawn to the decision of the Hon'ble Supreme Court while dismissing SLP in the case of Lovely Exports as has been reported as judgment delivered by the CTR at 216 CTR 295: "Can the amount of share money be regarded as undisclosed income under section 68 of the Income

WEARIT GLOBAL LTD., ,KOLKATA vs. DCIT, CIRCLE - 12(1), KOLKATA

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

10. According to the Ld. AR, the Ld. CIT(A) has observed that in respect of the aforesaid eight (8) companies, no notice u/s 133(6) was issued by the AO or any other enquiry was conducted by him and the share allotment by the assessee company was confirmed to be genuine

JCIT(OSD),CIR.-12(1) , KOLKATA vs. M/S WEARIT GLOBAL LTD., KOLKATA

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

10. According to the Ld. AR, the Ld. CIT(A) has observed that in respect of the aforesaid eight (8) companies, no notice u/s 133(6) was issued by the AO or any other enquiry was conducted by him and the share allotment by the assessee company was confirmed to be genuine

J.C.I.T.(OSD),CIRCLE-12(1), KOLKATA vs. M/S WERIT GLOBAL LTD., KOLKATA

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

10. According to the Ld. AR, the Ld. CIT(A) has observed that in respect of the aforesaid eight (8) companies, no notice u/s 133(6) was issued by the AO or any other enquiry was conducted by him and the share allotment by the assessee company was confirmed to be genuine

DCIT, CIRCLE - 12(1), KOLKATA vs. M/S. WEARIT GLOBAL LTD., , KOLKATA

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

10. According to the Ld. AR, the Ld. CIT(A) has observed that in respect of the aforesaid eight (8) companies, no notice u/s 133(6) was issued by the AO or any other enquiry was conducted by him and the share allotment by the assessee company was confirmed to be genuine

RAHUL AGARWAL,KOLKATA vs. A.C.I.T.,CIRCLE-46, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2016-17

23,684/- for a period between 1.4.2014 to 31-03-2015 and it had shown profit of Rs. 45,14,706/- and it paid income-tax of Rs. 12,16,360/-. The AR also drew our attention to page-11 of the P.B, which shows that M/s. GRREPL has given short term loan and advances against properties at Rs. 10

DCIT, CENTRAL CIRCLE - 2(4), KOLKATA , KOLKATA vs. M/S. MAA ANNAPURNA TRANSPORT AGENCY LTD., , KOLKATA

In the result, the appeal of revenue is dismissed

Bench: Shri A.T. Varkery, Jm & Dr. Arjun Lal Saini, Am ]

23,178 1,000,000 Do- LTD 1 B NATORE PARK, 4TH ROAD, KOLKATA-700 039. WEST BENGAL 5 GENUINE RETAILS PVT 142,520 3,500,000 Do- LTD4 G.C AVENUE, 1ST FLOOR, KOLKATA, WEST BENGAL-700 013 6 GREEN LINE TRADE LINKS 423,001 5,500,000 Do- PVT. LTD 104 S.P MUKHERJEE ROAD, 4TH FLOOR, ROOM

BIMAL KUMAR DROLIA,HOWRAH vs. ITO, WARD-43(2), KOLKATA

In the result, the appeal filed by the assessee is dismissed

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

23] ■ Such an explanation cannot be accepted more so from the respondent-assessee company who is claiming to have been engaged Page 10 of 19 I.T.A. No.: 347/KOL/2024 Assessment Year: 2009-10 Bimal Kumar Drolia. in the business of providing accommodation entries where crores of rupees are deposited and withdrawn. If the respondent-assessee does not have the details

BALHANUMAN COMMODEAL PVT. LTD.,KOLKATA vs. ITO, WARD-5(4), KOLKATA

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2012-13

Section 68 by Finance Bill, 2012 which has taken note of various decision of the court where the courts have drawn a distinction and emphasised that in case of private placement of shares the legal regime should be different from that which is followed in the case of a company seeking share capital from the public at large

BALAKA VINIMAY PVT. LTD.,KOLKATA vs. ITO, WARD-2(1), KOLKATA

In the result, appeals of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

23 I.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. 2009-10 but in the subsequent years, i.e., AY: 2011-12 and AY: 2012-13, assessment proceedings were reopened on the basis of information received from the Investigation Wing and orders w/s. 147 read with section 143(3) have been passed on 21.12.2018 and 11.12.2018 respectively

BALAKA VINIMAY PVT. LTD.,KOLKATA vs. ITO, WARD-2(1), KOLKATA

In the result, appeals of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

23 I.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. 2009-10 but in the subsequent years, i.e., AY: 2011-12 and AY: 2012-13, assessment proceedings were reopened on the basis of information received from the Investigation Wing and orders w/s. 147 read with section 143(3) have been passed on 21.12.2018 and 11.12.2018 respectively

ITO, WARD - 13(2), KOLKATA, KOLKATA vs. M/S. GOURI NANDAN REAL ESTATE PVT. LTD.,, HOWRAH

In the result, we uphold the same and dismiss the appeal of the Revenue

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

10/- and premium of 90%. On appeal, the ld. first appellate authority deleted the same. 3. Aggrieved, the Revenue is before us. 4. After hearing rival contentions we find that the ld. CIT(A) at para 1.7 to 1.13 held as follows: “1.7 As has been pointed out in the A/R’s submission reproduced above, the word ‘sum’ appearing