ITO, WD-1(1), SILIGURI, SILIGURI vs. M/S CACHAR KING PLANTATIONS PVT. LTD., SILIGURI

In the result, appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2012-13 Income Tax Officer, Ward-1(1), Siliguri..………......……….........…………..………….…................Appellant Vs. M/S. Cachar King Plantations Pvt. Ltd..……...........…………..……………….…...……..…….......Respondent Situvita Tea Factory Bidhan Nagar Siliguri [Pan : Aabcc 0744 P] Appearances By: Shri Subash Agarwal, Advocate, Appeared On Behalf Of The Assessee. Shri Robin Choudhury, Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : December 12Th, 2018 Date Of Pronouncing The Order : January 16Th , 2019 Order Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- Siliguri, (Hereinafter The ‘Ld. Cit(A)’), Dt. 27/05/2015, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2012-13. 2. The Assessee Is A Company & Is In The Business Of Investment In Shares & Securities. For The Assessment Year 2012-13, It E-Filed Its Original Return Of Income On 22/09/2012, Disclosing Total Business Income At Rs.3,71,534/-. The Assessment Order Was Passed U/S 143(3) Of The Act, On 30/03/2015, Making An Addition Of Unexplained Cash Credit To The Tune Of Rs.1,30,00,000/-, U/S 68 Of The Act. This Was Set Off Against Carried Forward Losses & Gross Total Balance Was Determined At –Nil- Aggrieved The Assessee Carried The Matter In Appeal. The Ld. First Appellate Authority Deleted The Addition For The Reasons Given In His Order.

68 of the Act. This was set off against carried forward losses and gross total balance was determined at –Nil- Aggrieved the assessee carried the matter in appeal. The ld. First Appellate Authority deleted the addition for the reasons given in his order. 3. Aggrieved, the revenue is in appeal before us. 2 Assessment Year: 2012-13 M/s. Cachar King

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

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon’ble High Court as well as before

BIRENDRANATH SAMANTA,BURDWAN vs. ACIT, CIR-2, BURDWAN, BURDWAN

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 227/Kol/2023 Assessment Year: 2015-16 Birendra Nath Samanta Assistant Commissioner Of Anandapally, Sripally Vs Income Tax, Cirlce-2, Burdwan Burdwan - 713103 [Pan : Akaps8240C] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.K. Tulsiyan, Advocate & Ms. Puja Somani, C.A. Revenue By : Shri Vijay Kumar, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08/05/2023 घोषणा क" तारीख /Date Of Pronouncement: 06/06/2023 आदेश/O R D E R Per Dr. Manish Borad: This Is An Appeal Preferred By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi (Hereinafter Referred To As The Ld. Cit(A)”], Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’), Dated 12/05/2022 For The Assessment Year 2015-16. 2. The Registry Has Pointed Out That There Is A Delay Of 253 Days In Filing Of This Appeal. In The Condonation Application, The Assessee Stated That An Affidavit & An Application Has Been Filed Wherein It Has Been Submitted That The Impugned Order Was Passed On 12/05/2022 By The National Faceless Appeal Centre (Nfac), Delhi, Dismissing The Assessee’S Appeal Ex-Parte. The Said Appellate Order Was Sent Through E- Mail At Debudan1975@Gmail.Com, Which Belonged To Shri Debabrata Dan, A Resident Of Burdwan & Looking After The Income Tax Matters

249 of the Act, which provides power to the ld. Commissioner to condone the delay in filing of the appeal before the Commissioner. Similarly, it has been used in Section 5 of the Indian Limitation Act, 1963. Whenever interpretation and consideration of this expression has fallen for consideration before the Hon’ble High Courts as well as before

SHRI PALASH KUMAR KAPAS,HOWRAH vs. ACIT, CIR. 47, KOLKATA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

68 of the Act, but the Ld. AO had levied tax @ 60% while the assessee had offered the income @ 30% under the head income from other sources and the same was on account of service charges received. It was submitted that the assessee is a custom agent and had received the money on account of service charges. The Sisir

BABA IRON INDUSTRIES PVT. LTD. ,KOLKATA vs. ITO,WARD-9(1), KOLKATA., KOLKATA

Bench: Sri Rajpal Yadav & Dr. Manish Borad

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before

NISHTHA VINCOM PVT. LTD., ,KOLKATA vs. ITO, WARD 6(3), , KOLKATA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri George Mathan & Shri Rakesh Mishra

68 of the Act besides, relying upon other judicial I.T.A. No.: 1160/KOL/2025 Assessment Year: 2012-13 Nishtha Vincom Pvt. Ltd. pronouncements for disallowance under section 14A of the Act. The Ld. CIT(A) dismissed the appeal by giving its finding as extracted under: “3. Findings and Decision of the Appellate Authority- 3.1 The appellant has preferred this appeal against

M/S. GOLDLINE DEALERS PVT. LTD., ,KOLKATA vs. ITO, WARD - 9(2), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Rajpal Yadav & Sri Rajesh Kumar

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

249 of the Act. Since the period of limitation starts from the date of intimation of such an order, it is imperative that such an order be communicated to the assessee. Had the Income-tax Officer passed any final order, it would have been communicated to the assessee within a reasonable period. In any case, what we find is that

TERAI FRUITS COMPANY,SILIGURI vs. INCOME TAX OFFICER, WARD-1(1), SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

249, grant immunity from imposition of penalty under section 270A and initiation of proceedings under section 276C or section 276CC, where the proceedings for penalty under section 270A has not been initiated under the circumstances referred to in sub-section (9) of the said section 270A. (4) The Assessing Officer shall, within a period

DEEPAK SWITCH GEARS PVT. LTD. ,KOLKATA vs. PCIT, ASANSOL, ASANSOL

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2Nd Floor, 155, Jessore Road, Kolkata-700055. [Pan: Aabcd1131H] Vs. Pcit, Asansol….....….........................................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 08, 2024 Date Of Pronouncing The Order : May 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 30.12.2022 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 158 Days. A Separate Application Of Condonation Of Delay Has Been Filed, Wherein, It Has Been Pleaded That After Receipt Of The Impugned Order Of The Pr. Cit, The Assessee, Through Its Director, Shri Deep Kishan Saraf, Immediately Approached One Shri Pawan Kumar Agarwal, Chartered

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Hon'ble High Court as well as before

MILLENNIUM CONTRADE PVT. LTD.,KOLKATA vs. DCIT, CIRCLE- 11(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

sections": [ "147", "144B", "143(3)", "149(1)(b)", "68", "69C", "249(4)(b)", "208", "209", "210", "46A" ], "issues": "Whether

VARUN TRADE LINK PRIVATE LIMITED,KOLKATA vs. CIT(APPEALS), NFAC, , DELHI

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

Bench: Shri George Mathan & Shri Rakesh Mishra

68 of the Act and assessed the total income of the assessee at ₹1,55,57,476/- u/s 147 r.w.s. 144B of the Act. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who vide order dated 28.12.2024 dismissed the I.T.A. No.: 401/KOL/2025 Assessment Year: 2014-15 Varun Trade Link Private Limited. appeal

NALANDA BUILDERS PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 2(1), KOLKATA, KOLKATA

In the result the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. Dcit, Central Circle-2(1), Kolkata 5, Sree Charan Sarani Vs Bally Howrah – 711201 (West Bengal) [Pan : Aabcn7736Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 30/11/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 23/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2013-14. 2. The Issues Raised In Ground Nos. 2 To 4 Is Against The Confirmation Of Addition As Made By The Assessing Officer On Account Of Difference Between The Value Taken By The Assessee & The Fair Market Value (Fmv) U/S 50C Of The Act. 3. The Facts In Brief Are That During The Year, The Assessee Sold Two Flats For An Aggregate Consideration Of Rs.3,00,00,000/- & Accordingly Addition Of Rs.3,26,37,314/- Was Made To The Income Of The Assessee. In 2

249 (SC) 2) PCIT vs. Indravadan Jain [2023] 156 taxmann.com 605 (Bombay) 3) PCIT vs. Dipansu Mahapatra [2023] 149 taxmann.com 99 (Orissa) 4) ITO Vs. Smt. Bimla Debvi Singhania ITA Nos. 212 & 213/CKT/2019 7 I.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. 9.1. The ld. A/R submitted that in all these judicial precedents, transactions were done

SAMRAT FINVESTORS PRIVATE LIMITED. ,KOLKATA vs. ITO, WARD- 10(2),KOLKATA. , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Income Tax Officer, Ward – 10(2), 20/1, Maharshi Debendra Vs Kolkata 2Nd Floor, Room No. 13A Kolkata - 700007 [Pan : Aadcs4698G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 14/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 27/06/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee In The Instant Appeal Has Raised Two Effective Issues In The Various Grounds Before Us Which Are Summed Up As Under:- (I) That The Ld. Cit(A) Has Erred On Facts & In Law In Confirming The Disallowance Of Rs.3,98,50,208/- As Made By The Assessing Officer On Account Alleged Bogus Loss In Share Trading & In F&O Segment. (Ii) The Ld. Cit(A) Has Erred On Facts & In Law In Upholding The Addition Of Rs.11,58,944/- As Made By The Assessing

249 (SC) 2) PCIT vs. Indravadan Jain [2023] 156 taxmann.com 605 (Bombay) 3) PCIT vs. Dipansu Mahapatra [2023] 149 taxmann.com 99 (Orissa) 4) ITO Vs. Smt. Bimla Debvi Singhania ITA Nos. 212 & 213/CKT/2019 7.1. The ld. A/R submitted that in all these judicial precedents, transactions were done by the assessees on recognised stock exchange platforms and earnings profits//sustaining losses

M/S DESUN HEALTHCARE AND RESEARCH INSTITUTE LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-12(1), KOLKATA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Desun Healthcare & Deputy Commissioner Of Research Institute Ltd. Income-Tax, Circle-12(1), Vs. (Pan: Aaccn0884A) Kolkata. 8/1A/1, Keyatalla Road, Kolkata-700029. (Appellant) (Respondent) Present For: Appellant By : Shri Manoj Kataruka, Advocate Respondent By : Md. Ghayas Uddin, Cit, Dr Date Of Hearing : 18.08.2022 Date Of Pronouncement : 10.10.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Arising Out Of The Order Of Commissioner Of Income-Tax(Appeals) – 4, Kolkata In Appeal Number 74/Cit(A)-4/C-12(1)/17-18 Dated 31.01.2019 Against The Assessment Order Passed Under Section 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The Act) By Dcit, Circle – 12(1), Kolkata, Dated 21.12.2017. 2. Grounds Of Appeal Taken By The Assessee Are Reproduced As Under: “1. That On The Facts & In The Circumstances Of The Case The Action Of The Ld. Clt(A) To Confirm The Addition Made By The Ao. Is Without Providing Reasonable Opportunity Of Being Heard In Violation Of The Principles Of Natural Justice & Therefore The Order Passed Is Bad In Law. 2. That On The Facts & In The Circumstances Of The Case The Action Of The Ld. Cit(A) To Confirm The Addition Made By The Ao. By Passing An Ex-Parte Order Is Without Considering The Submissions Recorded In The Statement Of Facts & In Violation Of The Principles Of Natural Justice Without Providing Reasonable Opportunity Of Being Heard & Therefore The Order Passed Is Arbitrary, Excessive & Illegal.

section 68 of the Act, Hon’ble Court observed that “from the plain reading of provisions of sec. 68 of the Act, it does appear that where any sum is found to be credited in the books of account maintained for any previous year and there is no proper explanation for such credit, the sum so credited

BMW INDUSTRIES LIMITED ,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

68 of the Act is reduced from the total income then there was no difference between the returned income and assessed income and the tax sought to be evaded would be nil. Thus, the penalty is not leviable under section 271(1)(c) of the Act by virtue of Explanation 4 to Section

BMW INDUSTRIES LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(1),, KOLKATA

In the result, all the three appeals of the assessee are allowed

68 of the Act is reduced\nfrom the total income then there was no difference between the\nreturned income and assessed income and the tax sought to be\nevaded would be nil. Thus, the penalty is not leviable under section\n271(1)(c) of the Act by virtue of Explanation 4 to Section 271(1)(c) of\nthe

ITO, WD-5(4), KOLKATA, KOLKATA vs. M/S EKTA TRACOM PVT.LTD., KOLKATA

In the result, the appeal of the revenue is allowed for statistical purpose

Bench: Shri A. T. Varkey, Jm & Dr. (Shri) Arjun Lal Saini, Am ]

68 of the Act. We note that AO for reasons best known to him, has not recorded the facts of service of section 133(6) notice to all share subscribers & that they have filed the documents pursuant to his notice as discussed in para (4) supra. This omission on the part of the AO not to record the facts

GAJGAMINI TREXIM PVT. LTD., ,KOLKATA vs. ITO, WARD - 9(2), , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

249 of Income Tax Act, which provides powers to the ld. Commissioner to condone the delay in filing the appeal before the Commissioner. Similarly, it has been used in section 5 of Indian Limitation Act, 1963. Whenever interpretation and construction of this expression has fallen for consideration before Honble High Court as well as before the Honble Supreme Court