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)

section 68 namely: identity, creditworthiness and genuineness. Therefore, Assessing Officer was right in making the disallowance u/s 68 of the Act. Apart from this, the assessee has introduced his unaccounted money by way of issuing shares at a higher premium. The assessee company does not have much track record and goodwill therefore it is not able to fetch

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

Section 250 of the Act reads as under:- “(6) The order of the Commissioner (Appeals) disposing of the appeal shall be in writing and shall state the points for determination, the decision thereon and the reason for the decision”. AY 2012-13 3. Shri S. K. Tulsiyan, the Learned Authorised Representative ( in short, the ‘Ld. AR’) of the assessee

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]

section 142(1) notice through e-mail and also issued summons u/s. 131 of the Act to the directors of the investor companies as well as the director of the assessee company. Thereafter, he noted that there was no compliance to the notices to the assessee and thereafter on 25.03.2015 passed the reassessment u/s. 144/263 of the Act making

FIZAAN COMMOTRADE PVT. LTD.,KOLKATA vs. I.T.O.,WARD-15(1), KOLKATA

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

142(1) of the Act were issued and pursuant to the same Shri S. S. Lohia, FCA, the Ld. AR of the assessee appeared and furnished few details. The AO noted that assessee in this year has infused fresh share capital and share premium (Total Rs.2.10 cr.), so, he requested the Ld. AR to produce the director of the assessee

BHUTORIA ELECTRICALS PVT. LTD.,,KOLKATA vs. ITO, WARD - 7(4), KOLKATA, KOLKATA

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 2024/Kol/2017 Assessment Year: 2012-13

142(1)/143(3) of the Act and drew our attention to the paper book to establish that all the share subscribers are infact income tax assessees which details we will 4 Bhutoria Electricals Pvt. Ltd., AY 2012-13 give later. We note that all the share-subscribing companies/HUF have duly replied to the notice issued

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 ]

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 NO. 404, KOLKATA, WEST BENGAL- 70026 7 JAGADAMBA DEALCOM 189,247 2,500,000 Do- PVT. LTD BLOCK-A, 3RD FLOOR, 9 LAL BAZAR

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

142(1) of the Act dated 13.05.2016 and 06.09.2016, respectively along with several letters were also issued and served upon the assessee to prove with direct evidence the claim of cash deposits made out of sales. In response, the assessee filed only date-wise sales details in plain paper and did not substantiate it with documentary evidence, which

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

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

Section 68 of the Act, and added to the total income of the assessee. Further, it was found that the assessee had shown Rs.14,00,000/- as current investments in equity as on 31.03.2012. The Ld. A.O. held that the generation of exempt income out of the said investments of Rs.14,00,000/- cannot be ruled out. However

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

68 as 'unexplained cash credit' introduced in the books of accounts. Against the said order, the assessee filed appeal before the CIT(A) who had also decided the Appeal in favour of Revenue vide order dated 09.03.2016 and upheld the additions made by the AO as the assessee 3 I.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay

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

68 as 'unexplained cash credit' introduced in the books of accounts. Against the said order, the assessee filed appeal before the CIT(A) who had also decided the Appeal in favour of Revenue vide order dated 09.03.2016 and upheld the additions made by the AO as the assessee 3 I.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay

SATYANARAYAN HOLDINGS PVT. LTD.,KOLKATA vs. ITO, WARD-5(2), KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.444/Kol/2024 Assessment Year: 2012-13

section 68 of the Act. 2. The appellant craves leave to add further grounds of appeal or alter the grounds at the time of hearing.” 8. Brief facts of the case are that the assessee is a private limited company engaged in the business of share trading and investment. Loss of Rs.215/- declared in the return

VISH REALTY SOLUTIONS PRIVATE LIMITED ,KOLKATA vs. I.T.O.,WARD-5(3), KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 250/Kol/2020 Assessment Year: 2012-13 Vish Realty Solutions Private Limited Income Tax Officer, Ward-5(3), 55, Ezra Street Vs Kolkata 2Nd Floor Kolkata - 700001 [Pan : Aadcv9938N] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S. Jhajharia, A/R Revenue By : Shri Vineet Kumar, Addl. Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 16/01/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) -10 (Hereinafter The “Ld. Cit(E)”) Dt. 02/12/2019, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Learned Commissioner Of Income Tax (Appeals)-Io, Kolkata Erred In Passing An Order Dated 2Nd Of December, 2019 Under Section 143(3) Of The Income Tax Act, 1961 Dismissing The Appeal Of The Appellant Without Allowing Reasonable Opportunity Of Being Heard. 2. That The Learned Commissioner Of Income Tax (Appeals) - 10, Kolkata Erred In Confirming The Addition Of Share Application Money Ofrs. 5,86,00,000/- Made By The Assessing Officer Under Section 68 Of The Income Tax Act, 1961 On Irrelevant Considerations & Arbitrary Grounds.

section 68 of the Income Tax Act, 1961. 5. That the appellant craves leave to add, alter or delete all or any of the grounds of appeal.” 3. Facts in brief are that the assessee is a private limited company engaged in the business of development of property. Nil income declared in the return for Assessment Year

M/S SWIFT VINTRADE PVT. LTD.,KOLKATA vs. CIT, KOLKATA-1I, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Year: 2009-10

68 stood complied with. In the instant case, the Assessing Officer merely issued notices under section 133(6) to some of the shareholders whose replies, indicating that they overtly purchased the shares at Rs.200 each, were kept on record. Putting a lid at the matter at that stage only, the Assessing Officer did not consider it prudent to examine

RAMESHWAR FINVEST PRIVATE LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3),, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Central Circle 3(3) Rameshwar Finvest Private Aaykar Bhawan Poorva, Limited Santil Palli, 110, Eastern 111, Park Street, Kolkata- Metropolitan Bypass, Opposite Vs. 700016, West Bengal Ruby, Kasba, Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aabcr1053N Assessee By : Shri S.K. Tulsiyan & Ms. Puja Somani, Ars Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 23.12.2025

68 of the Act with retrospective effect nor does the proviso so introduced states that it was introduced "for removal of doubts" or that it is "declaratory". Therefore, it is not open to give it retrospective effect."” 3.19. We have also perused the provisions of Section 142

TRUE-MAN CONSULTANTS PVT. LTD. ,KOLKATA vs. ITO,WARD-7(2),KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 68 of the Act to explain the nature and source, in other words, unable to prove the identity and creditworthiness of the share applicants and genuineness of the transaction. 8. Before us, ld. Counsel for the assessee referring to the paperbook and details has submitted that all the share applicant companies are duly registered with the Ministry

L B SAREE EMPORIUM,KOLKATA vs. ACIT, CIR. 43, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)

142(1) were issued and duly served upon the assessee. Various information was called for in the questionnaire to which necessary reply was made. The ld. Assessing Officer observed that the assessee has shown unsecured loans amounting to Rs.7,32,58,026/-. To verify the said unsecured loan, the assessee was asked to furnish the details along with details

AERO DEALCOMM PVT. LTD.,KOLKATA vs. I.T.O.,WARD-4(3), KOLKATA

Bench: Sri J. Sudhakar Reddy, Hon’Ble) Assessment Years: 2009-10 Aereo Dealcomm Pvt. Ltd………….………...........................................................……………….…......Appellant C/O. S.N. Ghosh & Associates, Advocates 2, Garstin Place 2Nd Floor Suite No. 203 Off Hare Street Kolkata West Bengal – 700 001 [Pan : Aacca 5934 G] Vs. Income Tax Officer, Ward-4(3), Kolkata…………………..……………….............….……....…....Respondent Appearances By: Shri Somnath Ghosh, Advocate & Shri M. Jhawar, Fca, 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 26Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

68, read with section , read with section 147, of the Income-tax Act, 1961 tax Act, 1961 - Cash credit (Accommodation entry) (Accommodation entry) - Assessment year 2008-09 - Information was received from Information was received from 6 Assessment Years: 2009-10 Aereo Dealcomm Pvt. Ltd. investigation wing that assessee investigation wing that assessee-company was a beneficiary of accommodation

ITO, WARD-5(1), KOLKATA vs. M/S VISHNU DISTRIBUTORS PVT LTD, KOLKATA

In the result, the appeal of the Revenue is devoid of any merit, hence dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 50/Kol/2022 Assessment Year: 2012-2013

68; (2) The ld. CIT(Appeals) has erred in entertaining the additional evidence in violation of Rule 46A of the Income Tax Rules; and (3) The ld. CIT(Appeals) has erred in deleting the addition of Rs.1,35,500/-, which was added by the ld. Assessing Officer with the aid of Section 14A read with Rule 8D. 4. First