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 for the following reasons given in his impugned order:- “On careful consideration of the contentions of the A/R of the appellant, it is Inferred therefrom that, firstly, an objection was raised regarding non-appearance of the directors of all the 13 companies before the A.O in response to summons issued u/s 131 of the I.T. Act that

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

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

68 of the Act. In the ld. CIT(A)’s order we find that the details of share allotment, the moneys received in the form of share application money/premium and ld. CIT(A) has mentioned by preparing chart in this context as under: “SDR MEGHNATH INVESTMENTS PVT. LTD. DETAILS OF SHARE ALLOTMENT DURING F.Y. 2011-12 FACE VALUE OF SHARES

M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD.,BURDWAN vs. ACIT, CIRCLE-2, BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

section 56(viib) has been introduced." As another important aspect which should also be borne in mind in this case. These shares were received after paying huge premium by the allottees. These were subsequently transferred at face value or even at discount. This means that on transfer of shares the allotee did not receive any premium. This means that

ACIT, CIRCLE-1, BURDWAN, BURDWAN vs. M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD., BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

section 56(viib) has been introduced." As another important aspect which should also be borne in mind in this case. These shares were received after paying huge premium by the allottees. These were subsequently transferred at face value or even at discount. This means that on transfer of shares the allotee did not receive any premium. This means that

DCIT, CENTRAL -4(3), KOLKATA, KOLKATA vs. RAJESH AUTO MERCHANDISE PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

198 was applied. The assessee having discharged the initial onus which lay on\nit in terms of section 68

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

68 to the tune of Rs. 18,27,00,000/- stands deleted. In the result the grounds are partly allowed.” 06. The ld. CIT(A) partly allowed the appeal of the assessee by following the decision of the co-ordinate bench in case of M/s Swarna Kalash Commercial Pvt. ltd. Vs. ACIT in IT(SS)A No. 53/KOL/2022

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

68 to the tune of Rs. 18,27,00,000/- stands deleted. In the result the grounds are partly allowed.” 06. The ld. CIT(A) partly allowed the appeal of the assessee by following the decision of the co-ordinate bench in case of M/s Swarna Kalash Commercial Pvt. ltd. Vs. ACIT in IT(SS)A No. 53/KOL/2022

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

68 of the Act particularly when the purchase of shares was not doubted in the earlier assessment years. The ld. CIT (A) relied on a series of decisions as extracted hereinabove while deleting the addition. The ld. CIT (A) noted that the shares were purchased by the assessee company during the financial year 2010-11 and have not been doubted

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

In the result, the appeal of the assessee is allowed

68 of the\nAct on the ground that the assessee failed to discharge its onus to establish\nidentity, creditworthiness and genuineness of the transaction in respect of the\nmoney received through cash trail. The CIT(A) in course of hearing the appeal\ncalled for a remand report from the Assessing Officer and in the said remand\nreport the Assessing Officer

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

198 (Madras)/[2015] 229 Taxman 58 (Madras) vide order dated 12-08-2014. 011. The ld. AR also submitted that the assessee company has proved the source of funds of the subscribers and the theory of investigating the source to source is not applicable to the instant A.Y. 2012-13. The ld. AR submitted the provision of Section 68

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. ITO, WARD 5(2) (NOW DCIT, CENT.CIR. 4(2)), KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

198 (Madras)/[2015] 229 Taxman 58 (Madras) vide order dated 12-08-2014. 011. The ld. AR also submitted that the assessee company has proved the source of funds of the subscribers and the theory of investigating the source to source is not applicable to the instant A.Y. 2012-13. The ld. AR submitted the provision of Section 68

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

198 (Madras)/[2015] 229 Taxman 58 (Madras) vide order dated 12-08-2014. 011. The ld. AR also submitted that the assessee company has proved the source of funds of the subscribers and the theory of investigating the source to source is not applicable to the instant A.Y. 2012-13. The ld. AR submitted the provision of Section 68

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

198 (Madras)/[2015] 229 Taxman 58 (Madras) vide order dated 12-08-2014. 011. The ld. AR also submitted that the assessee company has proved the source of funds of the subscribers and the theory of investigating the source to source is not applicable to the instant A.Y. 2012-13. The ld. AR submitted the provision of Section 68

ENKAY TRAFFIN (P) LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, appeal of the assessee is allowed

section 133(6) ng the notice under section 133(6) of the Act. (vi) We note from a perusal of the paper book pages (vi) We note from a perusal of the paper book pages-2, 160 to 184 the 2, 160 to 184 the details of share applicant details of share applicant M/s. Shivashiv Dealcom

MAITHAN CERAMIC LTD.,,KOLKATA vs. ACIT, CIRCLE 7(1),, KOLKATA

In the result, appeal of the assessee is dismissed

198,904\n119,891\n17,079,01\nNote: 1) 'Chq' indicates 'Cheque' & 'RTGS' indicate 'Real Time Gross Settlement' through banking channel\n2) We are ubable to comment whether the cheques were account payee or not as necessary evidences in\nrespect thereof are not in possession of assessee.\n5. Ld.AR further drew our attention to page No.58 of the paper book

DCIT, CC-1(2), KOLKATA, KOLKATA vs. M/S. P & P HIGHRISE PVT. LTD., KOLKATA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

section 68 is not sustainable. The assessee has drew the attention of the ld. CIT(Appeals) towards the material submitted by it. A paper book running into 202 pages containing the material filed before the authorities below has been filed before us. For making reference about the nature of material, we would deem it appropriate to take note

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

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

68 of\nthe Act on the ground of being bogus and Rs. 2,30,00,000/- was\nadded on account of sale of investments by the assessee of unlisted\nequity shares by the\namalgamating company M/S Balgopal Tie-up\nPvt Ltd. The said amalgamation was effected vide order of the\nNational Company Law Tribunal, Kolkata Bench vide order dated\n20.09.2022

NEXTGEN VYAPAAR ,KOLKATA vs. PR.CIT-2, KOLKATA

In the result, appeal of the assessee is allowed

section 133(6) of the Act. section 133(6) of the Act. (v) We note from a perusal of the paper book (v) We note from a perusal of the paper book-2, pages 138 to 159 the 2, pages 138 to 159 the details of share applicant details of share applicant M/s. Shivarshi Construction