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177 results for “section 68”+ Section 133Aclear

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Mumbai937 Delhi865 Jaipur386 Bangalore324 Hyderabad193 Kolkata177 Chennai138 Surat130 Chandigarh116 Indore109 Pune98 Ahmedabad94 Visakhapatnam87 Rajkot82 Guwahati40 Cochin38 Raipur30 Nagpur29 Patna27 Amritsar27 Jodhpur23 Lucknow22 Agra21 Allahabad14 Cuttack14 Ranchi14 Jabalpur8 Karnataka6 Varanasi5 Calcutta2 SC2 Telangana2 Panaji2 Uttarakhand1 Dehradun1 K.S. RADHAKRISHNAN A.K. SIKRI1

Key Topics

Section 143(3)88 Section 6880 Addition to Income78 Section 133A73 Section 14771 Survey u/s 133A68 Section 14857 Unexplained Cash Credit36 Section 143(2)25 Section 250

JEWEL INDIA JEWELLERS,KOLKATQA vs. DCIT, CEN. CIR. 4(4), KOLKATA

In the result, both the appeals of the assessee are allowed

ITA 1395/KOL/2023[2017-18]Status: DisposedITAT Kolkata22 Mar 2024AY 2017-18

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115BSection 133ASection 139(1)Section 143(3)Section 68

Section 68 of the Act read with 115BBE of the Act. 4. Facts in brief are that the survey action u/s 133A

JEWEL INDIA JEWELLERS ,KOLKATA vs. DCIT, CEN. CIR. 4(4), KOLKATA

In the result, both the appeals of the assessee are allowed

Showing 1–20 of 177 · Page 1 of 9

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23

ITA 1396/KOL/2023[2017-18]Status: Disposed

ITAT Kolkata

22 Mar 2024

AY 2017-18

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115BSection 133ASection 139(1)Section 143(3)Section 68

Section 68 of the Act read with 115BBE of the Act. 4. Facts in brief are that the survey action u/s 133A

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. GOLDEN GOENKA CREDIT PRIVATE LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1799/KOL/2025[2022-23]Status: DisposedITAT Kolkata28 Jan 2026AY 2022-23

Bench: Shri Rajesh Kumar (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)

Section 127Section 132(1)Section 139Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 250Section 36(1)(iii)Section 68

sections for e.g. a statement recorded u/s. 132(4) is presumed to be correct in the hands of the maker of such statement. Similarly a statement made u/s. 133A or 131 of the Income Tax Act, 1961 has no evidentiary value as held by the Honble Supreme Court in the case of S. Kader Khan Sons

DEPUTY COMMISSOENR OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

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

ITA 1728/KOL/2024[2015-16]Status: DisposedITAT Kolkata11 Feb 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR

Section 14ASection 68Section 69C

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

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

ITA 1729/KOL/2024[2017-18]Status: DisposedITAT Kolkata11 Feb 2025AY 2017-18

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR

Section 14ASection 68Section 69C

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search

DCIT,CIR-43,KOL, KOLKATA vs. S.K.AGARWALA & CO, KOLKATA

In the result both the appeals of the Revenue are dismissed

ITA 485/KOL/2023[2016-17]Status: DisposedITAT Kolkata05 Dec 2023AY 2016-17

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

Section 131Section 131oSection 133(6)Section 133ASection 143(1)Section 250Section 68

68 of the Act in respect of unsecured loans raised by the assessee from nine different entities. 3. The facts in brief are that the assessee filed its return of income on 15.10.2016 declaring total income of Rs.70,75,050/-, which was processed under section 143(1) of the Act. The case of the assessee was selected for compulsory

DCIT,CIR-43,KOL, KOLKATA vs. S.K.AGARWALA & CO, KOLKATA

In the result both the appeals of the Revenue are dismissed

ITA 486/KOL/2023[2017-18]Status: DisposedITAT Kolkata05 Dec 2023AY 2017-18

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

Section 131Section 131oSection 133(6)Section 133ASection 143(1)Section 250Section 68

68 of the Act in respect of unsecured loans raised by the assessee from nine different entities. 3. The facts in brief are that the assessee filed its return of income on 15.10.2016 declaring total income of Rs.70,75,050/-, which was processed under section 143(1) of the Act. The case of the assessee was selected for compulsory

D.C.I.T.,CIRCLE-9(1), KOLKATA vs. M/S SHREE ANJANI SAREES PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed and the C

ITA 30/KOL/2020[2016-17]Status: DisposedITAT Kolkata21 Apr 2021AY 2016-17

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

133A, the AO added sum 8 | P a g e ITA No.30/Kol/2020 & C.O. No. 13/Kol/2020 M/s Shree Anjani Sarees Pvt. Ltd. A.Y. 2016-17 of Rs. 2,47,34,399/- u/s 69B of the Act, The AO further noted that the appellant did not include such undisclosed stock in its books and therefore he presumed that the appellant had sold

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)- 3(1), KOLKATA, KOLKATA vs. AUXINITE SUPPLIERS PRIVATE LIMITED, KOLKATA

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

ITA 139/KOL/2025[2019-2020]Status: DisposedITAT Kolkata02 Apr 2026AY 2019-2020

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Pan No. Aaecb3974H Co No. 11/Kol/2025 (Arising In Ita No. 139/Kol/2025 For A.Y. 2019-20) Dy. Commissioner Of Income Auxinite Suppliers Private Tax (Cc)-3(1) Limited 4Th Floor, Aaykar Bhawan 44/2A Jain Tower, Hazra Road, Vs. Poorva, 110 Shantipally, Kolkata- Kolkata-700019, West Bengal 700017, West Bengal (Appellant) (Respondent) Assessee By : S/Shri Rajeeva Kumar & Giridhar Dhelia, Ars Revenue By : Shri V. Vidhyadhar, Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 02.04.2026

For Appellant: S/Shri Rajeeva Kumar &For Respondent: Shri V. Vidhyadhar, DR

Section 132Section 133(6)Section 143(2)Section 153CSection 68

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “BasantBansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search and seizure

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), KOLKATA, KOLKATA vs. AVIMA EXPORTS PRIVATE LIMITED, KOLKATA

Accordingly the ground No. 2 is dismissed by upholding the order of Ld

ITA 1439/KOL/2025[2014-15]Status: DisposedITAT Kolkata11 Nov 2025AY 2014-15

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Central Circle 4(3) Avima Exports Private Limited 4Th Ns Road, Dalhousie, Kolkata, 110, Shantipally, Vs. Kolkata-700107, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aagca5857N Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 03.09.2025 Date Of Pronouncement: 11.11.2025

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri Raja Sengupta, DR

Section 131Section 133ASection 143(3)Section 68

section 133A, stands alone, has no evidentiary value. The Ld. CIT(A) in this respect has also placed reliance upon the CBDT letter no 286/2/2003-IT (Inv) dated 03.10.2003, which clearly states that statement recorded under undue pressure/coercion at the time of search/survey should be considered adversely. 18. The said CBDT Letter No.286/2/2003-IT(Inv) dated Oct 3, 2003 read

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. VIVEK GUPTA, KOLKATA

The appeal of the revenue is dismissed

ITA 1557/KOL/2025[2013-14]Status: DisposedITAT Kolkata28 Oct 2025AY 2013-14

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI SONJOY SARMA (Judicial Member)

Section 131Section 133ASection 143(3)Section 195Section 250Section 40Section 68

section 133A, stands alone, has no evidentiary value. The Ld. CIT(A) in this respect has also placed reliance upon the CBDT letter no 286/2/2003-IT (Inv) dated 03.10.2003, which clearly states that statement recorded under undue pressure/coercion at the time of search/survey should be considered adversely. 18. The said CBDT Letter No.286/2/2003-IT(Inv) dated Oct 3, 2003 read

DEPUTY COMMSSIONER OF INCOME TAX, CENTRAL CIRCLE, 4(3), KOLKATA, KOLKATA vs. PRIVI EXPORTS PRIVATE LIMITED, KOLKATA

Accordingly the ground No. 2 is dismissed by upholding the order of Ld

ITA 1456/KOL/2025[2017-18]Status: DisposedITAT Kolkata28 Oct 2025AY 2017-18

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

Section 131Section 133ASection 250Section 68

section 133A, stands alone, has no evidentiary value. The Ld. CIT(A) in this respect has also placed reliance upon the CBDT letter no 286/2/2003-IT (Inv) dated 03.10.2003, which clearly states that statement recorded under undue pressure/coercion at the time of search/survey should be considered adversely. 18. The said CBDT Letter No.286/2/2003-IT(Inv) dated Oct 3, 2003 read

M/S MODERN MALLEABLES LIMITED,KOLKATA vs. D.C.I.T CIR - 8(1), KOLKATA

In the result, the appeal of the assessee is allowed

ITA 2548/KOL/2019[2013-14]Status: DisposedITAT Kolkata20 Mar 2020AY 2013-14

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2013-14

Section 131Section 132

68 was deleted where assessee company had discharged its onus of establishing identity, genuineness and creditworthiness of both investors as well as lenders. Similarly, SLP was dismissed. 16. Thereafter, the ld. AR relied on the following case laws for the proposition that retracted statements cannot be relied upon. a) PCIT -vs.- Texraj Realty Pvt Ltd (ITA 612 of 2018 dated

HARSHWARDHAN GEMS PVT. LTD.,KOLKATA vs. ITO, WARD - 12(3), KOLKATA, KOLKATA

In the result, both the appeals of revenue and that of assessee are dismissed

ITA 1070/KOL/2010[2005-06]Status: DisposedITAT Kolkata03 Feb 2016AY 2005-06

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri S. M. Surana, AdvocateFor Respondent: Shri P. B. Pramanik, JCIT, Sr. DR

Section 133(6)Section 133ASection 143(3)Section 68

Section 68 the assessment was made on this sum. The ITAT noted that the assessed was a Public Limited Company which had received subscriptions to the public issue through banking channels and the shares were allotted in consonance with the provisions of the Securities Contract Regulation Act, 1956 as also the Rules & Regulations of the Delhi Stock Exchange. Complete

ITO, WARD - 12(3), KOLKATA, KOLKATA vs. M/S. HARSHWARDHAN GEMS P. LTD., KOLKATA

In the result, both the appeals of revenue and that of assessee are dismissed

ITA 1337/KOL/2010[2005-06]Status: DisposedITAT Kolkata03 Feb 2016AY 2005-06

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri S. M. Surana, AdvocateFor Respondent: Shri P. B. Pramanik, JCIT, Sr. DR

Section 133(6)Section 133ASection 143(3)Section 68

Section 68 the assessment was made on this sum. The ITAT noted that the assessed was a Public Limited Company which had received subscriptions to the public issue through banking channels and the shares were allotted in consonance with the provisions of the Securities Contract Regulation Act, 1956 as also the Rules & Regulations of the Delhi Stock Exchange. Complete

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), KOLKATA, KOLKATA vs. AVIMA EXPORTS PRIVATE LIMITED, KOLKATA

Appeal stands dismissed

ITA 1599/KOL/2025[2016-17]Status: DisposedITAT Kolkata26 Feb 2026AY 2016-17

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

Section 131Section 133ASection 139(1)Section 143(3)Section 147Section 148Section 68

68 of the Income-tax Act, 1961 (the Act) in respect of bogus unsecured loans. 2.1. The facts in brief are that the assessee company is a flagship company of 'Avima Group' and is in the business of trading in jute items. The assessee filed the return of income u/s 139(1) of the Act on 30.09.2016, declaring total income

D.C.C.T.,CIRCLE-3(1), KOLKATA vs. M/S NARSINGH ISPAT LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

ITA 1513/KOL/2019[2011-12]Status: HeardITAT Kolkata18 Apr 2023AY 2011-12

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 1513/Kol/2019 Assessment Year: 2011-2012 Deputy Commissioner Of Income Tax,.........Appellant Circle-3(1), Kolkata, Aayakar Bhawan, 4Th Floor, Room No. 19, P-7, Chowringhee Square, Kolkata-700069 -Vs.- M/S. Narsingh Ispat Limited,....................Respondent 16, Strand Road, Fairly Place, 15Th Floor, Diamond Heritage, Unit-1512, Kolkata-700001 [Pan: Aaccn0208J] Appearances By: Shri P.P. Barman, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Shri Miraj D. Shah, A.R., Appeared On Behalf Of The Assessee Date Of Concluding The Hearing : April 05, 2023 Date Of Pronouncing The Order : April 18, 2023 O R D E R

Section 132Section 133ASection 143(1)Section 143(3)Section 148Section 68Section 69C

133A of the Act carried out on two entry operators namely Bhartia Group and Newatia Group noticed that these entry operators were providing accommodation entries through authorized Private Limited Companies and the list of such names also included M/s. Paramdham Agencies Pvt. Limited. During the year under consideration, the assessee-company received Rs. 4 crores from M/s. Paramdham Agencies

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(1), KOLKATA, KOLKATA vs. AXIS OVERSEAS LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

ITA 2425/KOL/2024[2013-14]Status: DisposedITAT Kolkata03 Dec 2025AY 2013-14

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Tax, Cc 1(1), Kolkata Axis Overseas Limited Aaykar Bhawan Poorva, 21A, Shakespeare Sarani, Vs. 3Rd Floor, Kolkata-700107, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aagca7497L Assessee By : Shri Siddharth Agarwal, Ar Revenue By : Shri P.N. Barnwal, Dr Date Of Hearing: 13.11.2025 Date Of Pronouncement: 03.12.2025

For Appellant: Shri Siddharth Agarwal, ARFor Respondent: Shri P.N. Barnwal, DR

Section 133(6)Section 68

section 68 of the Act on the ground that the assessee failed to discharge its onus to establish identity, creditworthiness and genuineness of the transaction in respect of the money received through cash trail. The CIT(A) in course of hearing the appeal called for a remand report from the Assessing Officer and in the said remand report

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. AVIMA EXPORTS PRIVATE LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1708/KOL/2025[2015-16]Status: DisposedITAT Kolkata11 Nov 2025AY 2015-16

Bench: Shri Rajesh Kumar (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)

Section 127Section 131Section 133ASection 139Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 151

Section 250 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”). 2. Brief facts of the case are that the assessee company being the flagship concern of ‘Avima Group’ was engaged mainly in trading of jute products. The assessee filed original Return of income u/s 139 of the Act on 27.09.2015 declaring total income at Rs.33

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. EVERNEWCOMMODEAL PVT. LTD. , KOLKATA

In the result, ITA No.1535/Kol/2025 of the revenue is dismissed

ITA 1536/KOL/2025[2019-20]Status: DisposedITAT Kolkata10 Oct 2025AY 2019-20

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyita Nos.1535 & 1536/Kol/2025 Assessment Years: 2018-19 & 2019-20 Dcit, Central Circle-4(4), Kolkata.…………………………….…….……Appellant Vs. M/S Evernewcommodeal Pvt. Ltd..……………….………...……...…..…..Respondent 11, Pollock Street, Kol- 1. [Pan: Aabce9293P] Appearances By: Shri Altaf Hossain, Addl. Cit-Dr, Appeared On Behalf Of The Appellant. Shri Manish Tiwari, Fca, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 17, 2025 Date Of Pronouncing The Order : October 10, 2025 Order Per Pradip Kumar Choubey: Both The Captioned Appeals Have Been Preferred By The Assessee For The Assessment Years 2018-19 & 2019-20 Against Separate Orders Both Dated 25.04.2025 Of The Commissioner Of Income Tax (Appeals)-27, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) Respectively. Since, The Issues Involved In Both The Appeals Are Common & Relate To The Same Assessee, Therefore, These Appeals Have Been Heard Together & Are Being Disposed Of By This Consolidated Order. Ita No.1535/Kol/2025 Is Taken As Lead Case For Narration Of Facts. Ita No.1535/Kol/2025 - Brief Facts Of The Case Are That U/S 2. 139(1) Of The Act On 10-10-2019 Declaring A Total Income At Rs. 10,02,960/-. The Same Was Processed U/S 143(1) Of The Act. Later, A Search & Seizure Operation U/S 132 Of The Act Was Conducted At "Ladhuram Toshniwal Group" On 08-03-2022 As A Part Of "Jain Group" Of Concerns/ Persons At Various Places & Simultaneously, Business

Section 127Section 132Section 133ASection 142(1)Section 143(1)Section 143(2)Section 147Section 148Section 2Section 250

133A of the Income Tax Act, 1961. Subsequent to the search operation, the cases of "Ladhuram Toshniwal Group" were centralized and the jurisdiction of the assessee was transferred to the charge of the DCIT, Central Circle-4(4), Kolkata vide order u/s 127 of the Act by Competent Authority. Subsequently, a notice u/s 148 of the Act was issued