ACIT, LTU - 2, KOLKATA , KOLKATA vs. M/S. UCO BANK, KOLKATA

In the result, appeal of the Revenue is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A.L. Saini, Am Vs. M/S Uco Bank Acit, Ltu-2, Kolkata 10, Btm, Sarani, Kolkata – 700001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu3561B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

68,90,790/-. The expenditure incurred on exempted income from "Investment on Securities" and "Tax Free Bonds are debited in the taxable business income which is liable to be debited in the taxable business income which is liable to be disallowed as per section 14A of Income Tax Act, 1961 read with Rule 8D of Income Tax Rules

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

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. M D GARMENTS PVT. LTD., , KOLKATA

In the result, the appeal of the revenue as well as cross- objection of the assessee are dismissed

Bench: Shri P.M. Jagtap, Am] I.T.A. No. 2146/Kol/2017 Assessment Year: 2009-10 D.C.I.T, Central Cir – 2(1) Kolkata.........................................................................Appellant 3Rd Floor,Aayakar Bhawan Poorva, E.M. By Pass, 110, Shantipally, Kolkata – 700107 M/S. M.D. Garments Pvt. Ltd. …………………………………………………………………Respondent 156, M.G. Road, 1St Floor, Kolkata – 700 007 [Pan : Aadcm 5555 C] C.O. No. 38/Kol/2018 (Arising Out Of Ita No. 2146/Kol/2017) Assessment Year: 2009-10 M/S. M.D. Garments Pvt. Ltd. ……………………………………………………………Cross-Objector 156, M.G. Road, 1St Floor, Kolkata – 700 007 [Pan : Aadcm 5555 C] D.C.I.T, Central Cir – 2(1) Kolkata....................................................................Respondent 3Rd Floor,Aayakar Bhawan Poorva, E.M. By Pass, 110, Shantipally, Kolkata – 700107 Appearances By: Shri Robin Choudhury, Addl. Cit Appearing On Behalf Of The Revenue Shri R.P. Agarwal, Sr. Counsel & Shri Nirav Sheth, Aca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 25, 2018 Date Of Pronouncing The Order : June 20, 2018 Order Per P.M. Jagtap, Am This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 20, Kolkata Dated 18.07.2017 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 38/Kol/2018. 2 I.T.A. No. 2146/Kol/2017 & C.O. No. 38/Kol/2018 Assessment Year 2009-10 M/S. M.D. Garments Pvt. Ltd.

156, M.G. Road, 1st Floor, Kolkata – 700 007 [PAN : AADCM 5555 C] D.C.I.T, CENTRAL CIR – 2(1) Kolkata....................................................................Respondent 3rd Floor,Aayakar Bhawan Poorva, E.M. By Pass, 110, Shantipally, Kolkata – 700107 Appearances by: Shri Robin Choudhury, Addl. CIT appearing on behalf of the Revenue Shri R.P. Agarwal, Sr. Counsel & Shri Nirav Sheth, ACA appearing on behalf of the Assessee Date

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

LAL BABA SEAMLESS TUBES (P) LTD.,KOLKATA vs. DCIT, CIRCLE-3(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as allowed for statistical purposes, while the appeal of the Revenue is treated as partly allowed for statistical purposes

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

3. The addition of Rs.6.22 crores made by the Assessing Officer was challenged by the assessee in the appeal filed before the ld. CIT(Appeals) and after considering the submissions made by the assessee as well as the material available on record including the remand report submitted by the Assessing Officer, the ld. CIT(Appeals) confirmed the addition made

DCIT, CIRCLE-3(1), KOLKATA, KOLKATA vs. M/S. LAL BABA SEAMLESS TUBES PVT. LIMITED , KOLKATA

In the result, the appeal of the assessee is treated as allowed for statistical purposes, while the appeal of the Revenue is treated as partly allowed for statistical purposes

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

3. The addition of Rs.6.22 crores made by the Assessing Officer was challenged by the assessee in the appeal filed before the ld. CIT(Appeals) and after considering the submissions made by the assessee as well as the material available on record including the remand report submitted by the Assessing Officer, the ld. CIT(Appeals) confirmed the addition made

MADHU JAYANTI INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

3) of section 92C, which would warrant your goodself to disregard the analysis undertaken by the assessee and undertake a fresh analysis.) 3.7.6. The assessee pointed out the error in computation of PLI by the ld TPO as under :- 2· Error in computation of PLI of the assessee (Refer Point No. 5 of the notice) Reference point

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SDR MEGHNATH INVESTMENTS PRIVATE LIMITED, KOLKATA

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

3 25,00,000/- Page 5 Page 2 on 15.07.2011 15,00,000/- Page 9 on 22.10.2011 11. Goodview Tradecom P. Ltd. The appellant during appeal, has furnished the Balance Sheet, Bank Statement and ITR of the source of source, even though, since the amendment to section 68 was introduced from 1.4.2013, it was not applicable for the period

INCOME TAX OFFICER, WARD-9(1), KOLKATA, KOLKATA vs. LITTLESTAR SECURITIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

68 of the\nAct and added to the income of the assessee in the assessment\nframed u/s 143(3) read with section 254 read with section 144B of\nthe Act dated 29.09.2021.\n5.\nIn the appellate proceedings, the Id. CIT (A) after taking into\nconsideration the submissions of the assessee along with the\nevidences filed by the assessee

M/S. DELTA DEALERS PVT. LTD.,KOLKATA vs. ITO, WARD-8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

156 ITAT-Mum., it is held by the Hon'ble Tribunal that as the primary onus cast on assessee under Section 68 was duly fulfilled and the onus was on revenue to controvert the evidences furnished by the assessee. However, nothing has been brought on record by the revenue to substantiate that the assessee's unaccounted money was routed

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

section 14A of the Act on account of expenses incurred to earn exempt income to Rs. 86,368/- in contravention of CBDT's Circular No. 5/2014 dated 11/02/2014?” 010. The issue raised in ground no.1 of appeal is against the deletion of addition of ₹4,49,37,500 by the ld. CIT (A) as made

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

section 14A of the Act on account of expenses incurred to earn exempt income to Rs. 86,368/- in contravention of CBDT's Circular No. 5/2014 dated 11/02/2014?” 010. The issue raised in ground no.1 of appeal is against the deletion of addition of ₹4,49,37,500 by the ld. CIT (A) as made

SHANKAR TRADERS & DISTRIBUTORS PVT. LTD.,KOLKATA vs. ITO, WARD-5(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 199/Kol/2024 Assessment Year: 2012-13 Shankar Traders & Income Tax Officer, Ward-5(1), Distributors Pvt. Ltd. Vs Aaykar Bhawan, A-Block, 1St Floor, Mercantile P-7, Chowringhee Square, Building, 9, Lal Bazar Street, Kolkata-700, West Bengal Kolkata-700001, [Pan: Aadcs8907L] West Bengal अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent)

Section 68 of the Act.” 11. The Hon’ble Supreme Court, thus, has held that once the assessee has submitted the documents relating to identity, genuineness of the transaction, and credit-worthiness of the subscribers, then the AO is duty bound conduct to conduct an independent enquiry to verify the same. However, as noted above, the Assessing Officer

M/S SANJAY ENTERPRISES,KOLKATA vs. ITO., WARD-44(2), KOLKATA

In the result, the appeal of the assessee is treated as partly allowed for statistical purposes

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

156/-. 3. The assessee in the present case is a partnership firm, which is engaged in the business of trading in Till Oil. The return of income for the year under consideration was filed by it on 31.10.2007 declaring total 1 Assessment Year: 2007-2008 M/s. Sanjay Enterprises income of Rs.1,91,200/-. During the course of assessment proceedings

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. KAKRANIA PROPERTIES PVT. LTD.,, KOLKATA

In the result, the both appeals of Revenue are dismissed and cross objections of Assessee are also dismissed being infructuous

Bench: Shri A.T. Varkey, J.M. & Dr.A.L.Saini, A.M.) Asstt. Year : 2009-10 Dcit, C.C -2(1), Kolkata Vs M/S. Kakrania Properties Pvt. Ltd Pan: Aadck 6121C ( Department ) (Respondent) C.O No. 91/Kol/2017 [Ita No. 2144/Kol/2017 A.Y : 2009-10] M/S. Kankaria Properties Pvt. Ltd Vs Dcit, C.C -2(1), Kolkata Pan: Aadck 6121C ( Cross Objector ) ( Department ) Asstt. Year : 2009-10 Acit, C.C -2(1), Kolkata Vs M/S. Liza Vincom Pvt. Ltd Pan: Aaacl-5419R Department. (Respondent) C.O No. 90/Kol/2017 [Ita No. 2145/Kol/2017 A.Y : 2009-10] M/S. Liza Vincom Pvt. Ltd Vs Acit, C.C -2(1), Kolkata Pan: Aaacl-5419R ( Cross Objector ) ( Department )

156, M.G Road, Ltd 2 Manish Kakarnia Kolkata­700 007. 3 Pankaj Kakarnia The company was incorporated on 09.03.2009. It was found from the Profit and Loss account that the assessee company has shown loss of Rs.1,72,421/- during the year under consideration. During the course of hearing, assessee company produced the copy of Balance Sheet, Profit and Loss account

DCIT, CC-2(4), KOLKATA, KOLKATA vs. VIKRMA IMPEX PRIVATE LIMITED, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

section 68 and 69C of the Income Tax Act in the assessment order is justified. In rejoinder to remand report, the appellant has submitted as under: In the remand report the AO has justified the addition of loan of Rs.1.90 crore and interest of Rs.3,33,699. The summary of transactions are as follows: Description Loan Interest Total

DCIT- CENTRAL CIRCLE-2(4), KOLKATA vs. VIKRMA IMPEX PRIVATE LIMITED, KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

section 68 and 69C of the Income Tax Act in the assessment order is justified. In rejoinder to remand report, the appellant has submitted as under: In the remand report the AO has justified the addition of loan of Rs.1.90 crore and interest of Rs.3,33,699. The summary of transactions are as follows: Description Loan Interest Total

CHITRAKOOT TRADELINE PRIVATE LIMITED,KOLKATA vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Chitrakoot Tradeline Private Limited National Faceless Assessment C/O Agarwal Vishwanath & Centre, Associates, 2Nd Floor, E-Ramp, Jawaharlal Vs. 133/1/1A, S.N. Banerjee Road, Nehtru Road, New Delhi-110003 Pushkal Bhawan, 3 Rd Floor, Kolkata-700103, West Bengal (Appellant) (Respondent) Pan No. Aabcc3130H Assessee By : S/Shri Deep Agarwal & Shubhankar Ghosh, Ars Revenue By : Shri Santanu Ghosh, Dr Date Of Hearing: 22.01.2026 Date Of Pronouncement: 26.02.2026

68 is confirmed, as the appellant has failed to discharge the burden of proof regarding the identity, creditworthiness, and genuineness of the share capital and share premium transactions. The initiation of penalty proceedings under section 271(1)(c) is valid and will be adjudicated separately. The appeal is dismissed. The assessment 5.7 stands confirmed.” 5. After hearing the rival

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

68,082/-, which represented adjustment of lease premium of Rs. 81,650/-, rent of Rs. 3,26,600/- and excess usance charge of Rs. 59,832/- paid by the assessee to MIADB during the lease period. The ld. AO noticed that the appellant had computed LTCG on sale of part of the land by taking cost of acquisition