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

section 68 and the same is raised by the assessee by way of the following ground:- “1.(a) For that the Ld. CIT (A) erred in Law as well as on facts in confirming the addition made Rs.6,22,00,000/- as unexplained cash credit u/s 68 on the ground that "identity and creditworthiness/source of income could

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

section 68 and the same is raised by the assessee by way of the following ground:- “1.(a) For that the Ld. CIT (A) erred in Law as well as on facts in confirming the addition made Rs.6,22,00,000/- as unexplained cash credit u/s 68 on the ground that "identity and creditworthiness/source of income could

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

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

section 68 was introduced from 1.4.2013, it was not applicable for the period relevant for the instant appeal. These were also produced before the AO as stated in the statement recorded u/s 131 on 13.03.2015 before the AO in response to Question No. 13” 3.5. We further find that ld. CIT(A) has also gone through the net worth

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED , PATNA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the revenue is dismissed

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

section 68 of the Act is not applicable to a case where unsecured loan has been repaid. Therefore, our decision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would mutatis mutandis apply to these ground nos. 6 to 8 of this appeal as well. The ground nos. 6 to 8 of the appeal of the revenue

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

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

section 68 of the Act is not applicable to a case where unsecured loan has been repaid. Therefore, our decision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would mutatis mutandis apply to these ground nos. 6 to 8 of this appeal as well. The ground nos. 6 to 8 of the appeal of the revenue

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

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

section 68 of the Act is not applicable to a case where unsecured loan has been repaid. Therefore, our decision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would mutatis mutandis apply to these ground nos. 6 to 8 of this appeal as well. The ground nos. 6 to 8 of the appeal of the revenue

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

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

section 68 of the Act is not applicable to a case where unsecured loan has been repaid. Therefore, our decision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would mutatis mutandis apply to these ground nos. 6 to 8 of this appeal as well. The ground nos. 6 to 8 of the appeal of the revenue

GOPAL & SONS HUF,KOLKATA vs. I.T.O., WARD - 32(1), KOLKATA, KOLKATA

The appeal of the revenue is dismissed

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

section 68 of the Act is not applicable to a case where unsecured loan has been repaid. Therefore, our decision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would mutatis mutandis apply to these ground nos. 6 to 8 of this appeal as well. The ground nos. 6 to 8 of the appeal of the revenue

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

DCIT CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND LEASE FIN PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed

BALMUKUND CEMENT & ROOFINGS PVT. LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

section 68 of the Act is not applicable\nto a case where unsecured loan has been repaid. Therefore, our\ndecision in ground no.1 in ITA No. 1699Kol/2025 A.Y. 2015-16 would\nmutatis mutandis apply to these ground nos.6 to 8 of this appeal as\nwell. The ground nos.6 to 8 of the appeal of the revenue are\ndismissed