BIDIT FINANCIAL MANAGEMENT PVT. LTD.,KOLKATA vs. DCIT, CIRCLE-7(1), KOLKATA, KOLKATA

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.579/Kol/2017 ("नधा"रणवष" / Assessment Year:2012-13)

2), Kolkata and was having PAN: AACCA2350C. This company was having a paid up capital with free reserves and surplus of Rs.69,14,38,512/- as on 31/03/2012 and Rs.2,11,32,689/- as on 31/03/2011 respectively. The copy of the bank statement of the Company is duly available in the paper book. On examination of the bank statement

HILTON COMMODITIES PVT. LTD.,KOLKATA vs. ITO, WARD-5(3), KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Hilton Commodities Pvt. Ltd. Ito, Ward 5(3) 9/12, Lal Bazar Street, Aaykar Bhavan, P-7, Mercantile Building, Block-B, Chowringhee Square, Vs. 3Rd Floor, No.10, Kolkata-700069, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aacch1011P Assessee By : Shri Soumitra Choudhury, Ar Revenue By : Shri S Datta, Cit Dr Date Of Hearing: 08.01.2025 Date Of Pronouncement : 24.02.2025

2, the ld. PCIT stated that the assessee case was not viewed in isolation and under the similar facts and circumstances, orders u/s 148 of the Act have been passed in nearly 50 odd cases his charge, wherein similar revisionary orders were passed and the assessments were set aside. 08. The ld. AR thereafter referred to the evidences/material filed before

ITO, WARD-12(3), KOLKATA, KOLKATA vs. M/S SPLENDOUR VILLA MAKERS PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1768/Kol/2016 Assessment Year : 2012-13 Ito, Ward-12(3), Kolkata -Vs- M/S Splendour Villa Makers Pvt. Ltd. [Pan: Aahcs 9726 M] (Appellant) (Respondent)

2), Kolkata and was having PAN AAHCM0355J. This company was having a paid up capital with free reserves and surplus of Rs.4,93,81,014/- as on 31/03/2012 and Rs.55,84,484/- as on 31103/2011 respectively. The copy of the bank statement of the Company is duly available in the paper book. On examination of the bank statement it will

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)

2 M/s Gazal Textiles 6,00,000/- 24,00,000/- 30,00,000/- &Finvest Pvt. Ltd. Floor, Kolkata-13. PAN:AABCG1486C 3 M/s Landmark 47/1A, S.N. Roy Road, 27,00,000/- 1,08,00,000/- 1,35,00,000/- 3rd Floor, Flat No.8, Exim Pvt. Ltd. Behala, Kol-38. PAN:AABCL1397D M/s Delight GrihNirman Pvt. Ltd. Assessment Year

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.

2) M/s. Pragya Commodities Pvt. Ltd.:- The company has invested an amount of Rs.43,00,000/-, in the assessee company for 86,000 shares. The immediate source of funds was an amount received from M/s. Rootstar Investment Consultants Pvt. Ltd. vide cheque no. 390853, dt. 01/02/2012, for Rs.18,00,000/- and an amount of Rs. 55,00,000/- received from

ITO, WD-6(1), KOLKATA, KOLKATA vs. M/S TRITIUM COMMODITIES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi) Assessment Year: 2008-09 Income Tax Officer, Ward-6(1), Kolkata.………......……….........…………..………….…................Appellant Vs. M/S. Tritium Commodities………..........….……...........…………..……………….…...……..…….......Respondent 7, Babulal Lane Kolkata – 700 007 [Pan : Aacct 8286 G] Appearances By: Shri S.M. Surana, Advocate, Appeared On Behalf Of The Assessee. Shri Sankar Halder, Addl. Cit Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 6Th, 2018 Date Of Pronouncing The Order : November 28Th , 2018 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)-2, Kolkata, (Hereinafter The ‘Ld. Cit(A)’), Dt. 15/10/2015, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Relating To Assessment Year 2008-09. 2. The Assessee Is A Company & Is In The Business Of Investment In Shares & Securities. For The Assessment Year 2012-13, It Filed Its Return Of Income On 27/09/2017, Disclosing Nil Income. It Filed Its Original Return Of Income For The Assessment Year 2008-09, On 22/10/2008, Declaring Total Loss Or Rs.14,726/-. The Assessment Order Was Passed U/S 147/143(3) Of The Act, On 24/06/2010. Thereafter The Ld. Cit(A), Passed An Order U/S 263 Of The Act, Setting Aside The Assessment Order Dt. 24/06/2010. The Assessing Officer Passed The Impugned Fresh Order In Pursuance To The Order U/S 263 Of The Act, Dt. 31/03/2014, Making An Addition Of The Share Application Money Of Rs.2.07 Crores U/S 68 Of The Act. Aggrieved The Assessee Carried The Matter In Appeal. The Ld. First Appellate Authority Deleted The Addition For The Reasons Given In His Order.

2 Assessment Year: 2008-09 M/s. Tritium Commodities 3. Aggrieved, the revenue is in appeal before us. 4. The ld. D/R, submitted that the order of the ld. CIT(A), is contrary to the facts and law, as the assessee has failed to prove the creditworthiness of the share applicant companies and the genuineness of the transactions. He submitted that

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]

2)] in the first round of scrutiny assessment. Aggrieved, the assessee preferred an appeal before the Ld. CIT(A). Before the Ld. CIT(A) the assessee filed additional evidence on 22.02.2017 as well as on 23.02.2017, since assessee neither received any notices/summons other than the SCN on 17.3.2015 from the new AO, which was duly responded

DCIT, CIR.-11(1), KOLKATA, KOLKATA vs. M/S JAGANNATH BANWARILAL TEXOFABS PVT. LTD., KOLKATA

Bench: Shri A. T. Varkey, Jm & Shri A.L.Saini, Am]

2 I.T.A No 1762/Kol/2016 M/s. Jagannath Banwarilal Texofabs Pvt.Ltd. ascertain whether the three ingredients prescribed in Section 68 stood satisfied. The Ld. DR thereafter took us through the relevant documents furnished by the assessee company in their Paperbook. With regard to the identity of the share subscribers, he submitted that all the share applicants were paper companies

I.T.O.,WARD-9(3), KOLKATA vs. M/S REWARD HIRISE PVT. LTD., KOLKATA

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

2), Kolkota and was having PAN ADTPD4922C. This Individual was having a capital of Rs,12J19,075/- as on 31/03/2013 and Rs. 10,93,115/- as on 31/03/2012 respectively. The copy of the account statements for the year ended 31/03/2013 and 31/03/2012 was made available in the paper book. The copy of the ledger account also made available

I.T.O.,WARD-9(3), KOLKATA vs. M/S REWARD HIRISE PVT. LTD., KOLKATA

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

2), Kolkota and was having PAN ADTPD4922C. This Individual was having a capital of Rs,12J19,075/- as on 31/03/2013 and Rs. 10,93,115/- as on 31/03/2012 respectively. The copy of the account statements for the year ended 31/03/2013 and 31/03/2012 was made available in the paper book. The copy of the ledger account also made available

JCIT(OSD),CIR.-12(1) , KOLKATA vs. M/S WEARIT GLOBAL LTD., KOLKATA

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

2 Richfield Vintrade Pvt. Ltd 26,20,000 1,54,58,000 3 LaxmiputraTradecomm Pvt. Ltd 26,97,000 1,59,12,300 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 4 Jintan Mercantile Pvt. Ltd 18,84,000 1,11,15,600 5 Newzone Vintrade

J.C.I.T.(OSD),CIRCLE-12(1), KOLKATA vs. M/S WERIT GLOBAL LTD., KOLKATA

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

2 Richfield Vintrade Pvt. Ltd 26,20,000 1,54,58,000 3 LaxmiputraTradecomm Pvt. Ltd 26,97,000 1,59,12,300 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 4 Jintan Mercantile Pvt. Ltd 18,84,000 1,11,15,600 5 Newzone Vintrade

WEARIT GLOBAL LTD., ,KOLKATA vs. DCIT, CIRCLE - 12(1), KOLKATA

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

2 Richfield Vintrade Pvt. Ltd 26,20,000 1,54,58,000 3 LaxmiputraTradecomm Pvt. Ltd 26,97,000 1,59,12,300 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 4 Jintan Mercantile Pvt. Ltd 18,84,000 1,11,15,600 5 Newzone Vintrade

DCIT, CIRCLE - 12(1), KOLKATA vs. M/S. WEARIT GLOBAL LTD., , KOLKATA

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

2 Richfield Vintrade Pvt. Ltd 26,20,000 1,54,58,000 3 LaxmiputraTradecomm Pvt. Ltd 26,97,000 1,59,12,300 I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 4 Jintan Mercantile Pvt. Ltd 18,84,000 1,11,15,600 5 Newzone Vintrade

KANCHAN PLYWOOD PRODUCTS PVT. LTD., ,JALPAIGURI vs. ITO, WARD - 1(2), JALPAIGURI, JALPAIGURI

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini Am]

2. Copy of bank account statement. 3. Copy of extracts of minutes of meeting of board of directors. 4. Copy of letter of allotment of shares. 5. Copy of PAN card. 6. Copy of ITR for the assessment year 2012-13. 7. Copy of audited balance sheet.” 11. We also note that from a perusal of the assessment order that

TRADELINK CARRYING PVT. LTD.,KOLKATA vs. I.T.O.,WARD-4(1), KOLKATA

Bench: Shri A.T. Varkery, Am ]

2), Kolkota and was having PAN ADTPD4922C. This Individual was having a capital of Rs,12J19,075/- as on 31/03/2013 and Rs. 10,93,115/- as on 31/03/2012 respectively. The copy of the account statements for the year ended 31/03/2013 and 31/03/2012 was made available in the paper book. The copy of the ledger account also made available

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

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

256 ITR 360 wherein it has been held that the onus of the assessee stands fully discharged if the identity of the creditor is established and actual receipt from such creditors is proved, then in that event no addition u/s. 68 of the Act can be made in the assessee’s hand and in case if the AO is still

ITO, WARD-6(3), KOLKATA, KOLKATA vs. M/S SAVITRI SHARE AND SECURITIES PVT LTD., KOLKATA

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

2. Ambika Khemka 60800 6,08,000 - Do - 3. Art-view Marketing Pvt. Ltd. 170000 17,00,000 - Do - 4. PSB Investment Pvt. Ltd. 4000 20,00,000 Received in current year - 5. Raghubir Sales Pvt. Ltd. 6600 33,00,000 Do - - 6. Rosewood Commosales Pvt. Ltd. 11400 57,00,000 Do - 7. Vedant Merchants