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

In the result, the appeal of the Revenue is dismissed

133A has no evidentiary value and any admission made during such statement cannot be basis of addition”.\n6.2.4. Further, the AO had also alleged that the said lending entities did not have minimum financial strengths to extend such funds to the assessee. It is noticed that to support his contention, both in the asst. proceedings as well

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

In the result, the appeal of the revenue is dismissed

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

5 Golden Goenka Credit Pvt. Ltd 68 of the Act to prove identity, creditworthiness and genuineness was duly discharged. However, the Assessing Officer chose to doubt the creditworthiness of the lenders and in turn the genuineness of the transactions. The AO referred to the data base of shell companies list and made various generalized observations to doubt the source

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

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

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

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

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

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

133A of the Act was conducted on the assessee on 20.11.2015. The ld. Assessing Officer accordingly called upon the assessee to furnish necessary evidences in support of unsecured loans taken by the assessee from different parties amounting to Rs.3,95,00,000/-. The ld. Assessing Officer also issued notices under section 133(6) of the Act to eight parties

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

In the result both the appeals of the Revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

133A of the Act was conducted on the assessee on 20.11.2015. The ld. Assessing Officer accordingly called upon the assessee to furnish necessary evidences in support of unsecured loans taken by the assessee from different parties amounting to Rs.3,95,00,000/-. The ld. Assessing Officer also issued notices under section 133(6) of the Act to eight parties

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

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

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

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

M/S. BMS SALES PVT. LTD., ,PURULIA vs. DCIT, CENTRAL CIRCLE 3(1), , KOLKATA

In the result, the appeal of the assessee is allowed

133A of the Act, but a retracted\nstatement even under section 132(4) of the Act would require some\ncorroborative material for the AO to proceed to make additions on the\nbasis of such statement.\n12.2 In the case of \"BasantBansal vs. ACIT” reported in (2015)63\ntaxmann.com 199 (Jaipur Trib.), the assessee therein, during the search\nand seizure

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

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

68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

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

The appeal of the revenue is dismissed

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

68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

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

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

68 of the Act, three ingredients were necessary. Firstly identity of the parties to the transaction of loan, second is the creditworthiness of such parties and thirdly the genuineness of the transaction. It was submitted in vain that neither of the ingredients were satisfied. 5. As discussed above, since the requisite material was furnished by assessee showing the identity

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

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

5. Assailing the decision of the ld. CIT(A) the ld. Counsel for the assessee submitted that the assessee company is a listed company and became sick. Therefore, the ‘BIFR proceedings’ were going through and Shri Abhijit Biswas was appointed by the BIFR as a special director to the said assessee company, who was brought in to the Board

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

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

133A of the Act was conducted on the business premises of the assessee on 05.11.2004. During the course of survey, the books of account and documents were found and were impounded, inventorised and marked as HG-1 to HG-33. The AO during the course of assessment proceedings on going through the return of income noticed that the assessee

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

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

133A of the Act was conducted on the business premises of the assessee on 05.11.2004. During the course of survey, the books of account and documents were found and were impounded, inventorised and marked as HG-1 to HG-33. The AO during the course of assessment proceedings on going through the return of income noticed that the assessee

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

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

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

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

5. The issue raised in ground no.3 is against the deletion of addition of ₹9,20,00,000/- by the learned CIT (A) as made by the learned AO on account of share and securities of unlisted companies. 5.1. The learned AO during the course of assessment proceedings observed that the assessee has sold its current investments comprising share/ securities

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

In the result, the appeal of the revenue is dismissed

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

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