RAHUL AGARWAL,KOLKATA vs. A.C.I.T.,CIRCLE-46, KOLKATA

In the result, the appeal of assessee is allowed

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2016-17

68 of the Income-tax Act, 1961 ( hereinafter referred to as the ’Act’) . 4. Brief facts of the case as noted by the AO are that the assessee is an individual, had filed his e- return of income disclosing total income of Rs. 21,96,040/-. Later on his case was selected for scrutiny through CASS and after serving

DCIT, CIRCLE-2, , ASANSOL vs. M/S. DIAMOND BOTTLING PLANT COMPANY, KOLKATA

Appeal is dismissed

Bench: Shri P.M. Jagtap, V.P & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.894/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) Dcit, Circle-2, Asansol Vs. M/S Diamond Bottling Plant Company C/O. S.N. Ghosh & Associates, Seven Brothers Lodge, P.O-Buroshibtala, P.S- Chinsurah, Hooghly, - 712105. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaefd5674R (Appellant) .. (Respondent) Appellant By : Smt. Ranu Biswas, Sr. Dr Respondent By : Shri S.M. Surana, Advocate सुनवाई क" तार"ख/ Date Of Hearing : 11/12/2019 घोषणा क" तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (A), Asansol Dated 30.01.2019 Passed In Case No.58/Cit(A)/Asl/Dcit/Cir-2/Asl/15-16 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Grievance Seeks To Revive Assessing Officer’S Action Treating Assessee’S Loans Of Rs.11,85,00,000/- As Unexplained Cash Credits U/S 68 Which Has Been Reversed To The Extent Of Rs.5,26,50,251/- In The Cit(A)’S Order. Its Case Accordingly Is That The Assessing Officer Had Rightly Added The Assessee’S Total Loan Amount Of Rs. 11,85,00,000/- Raised From Four Entities M/S Diamond Carbon Pvt. Ltd., M/S Mukherjee Capital Pvt. Ltd., M/S Wimper Trading & Distributors Pvt. Ltd. & M/S Mukherjee Farms Pvt. Ltd.

57 of paper book); in respect of Diamond Carbon Pvt. Ltd. the creditworthiness can be noted from its capital and reserve to the tune of Rs.3,45,91,190/- (page 78 of paper book) and it had lent only Rs.1,10,00,000/- and the source can be found from the investment made in the FD and bank balances

ITO, WARD-10(4), KOLKATA, KOLKATA vs. M/S TOPAZ ENCLAVE PVT.LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravii.T.A. No. 2271/Kol/2016 Assessment Year: 2012-13 Ito, Ward-10(4), Kolkata.................................………....………………...…………………….….Appellant

57,900/- from six shareholders and Rs. 2,88,92,100/- from the very same shareholders towards share premium. The share capital received by the assessee has been duly accepted by the ld. AO within the ken of section 68

M/S WISLEY REAL ESTATE PVT. LTD.,KOLKATA vs. ITO, WARD-11(3), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 55/Kol/2024 Assessment Year: 2012-2013 M/S. Wisley Real Estate Pvt. Ltd.,…..........Appellant 86C, Viswakarma, 1St Floor, Topsia Road, Tiljala, Kolkata-700046 [Pan:Aakcs8704L] -Vs.- Income Tax Officer,……..........................Respondent Ward-11(3), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri A.K. Tulsyan, Fca, Appeared On Behalf Of The Assessee Shri P.P. Barman, Addl. Cit, Sr. Dr, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : 18Th March, 2024 Date Of Pronouncing The Order: June 6Th , 2024 O R D E R

57,500/- completed the assessment making addition under section 68 of the Act for the alleged sum and assessed

M/S. BHIKSHU POLYMERS PVT. LTD. (EARLIER KNOWN AS M/S. JEEVAN COMMOTRADE PVT. LTD.),KOLKATA vs. I.T.O., WARD - 6(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

57,80,000/- was made under Section 68 of the Act on account of share capital/premium claimed by the I.T.A

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 158BBE of the Act. 9. The addition of Rs.4,39,92,000/- made by the Assessing Officer on account of alleged undisclosed sale 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, the ld. CIT(Appeals

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 158BBE of the Act. 9. The addition of Rs.4,39,92,000/- made by the Assessing Officer on account of alleged undisclosed sale 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, the ld. CIT(Appeals

ITO, WARD-10(4), KOLKATA, KOLKATA vs. M/S TREND INFRA DEVELOPERS PVT.LTD, KOLKATA

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

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2270/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Trend Infra Developers Pvt. Ltd. [Pan: Aadct 6373 M ] (Appellant) (Respondent) I.T.A No. 2273/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Happy Bagans Pvt. Ltd. [Pan: Aacch 3712 K ] (Appellant) (Respondent)

57,900/- from six shareholders and Rs. 2,88,92,100/- from the very same shareholders towards share premium. The share capital received by the assessee has been duly accepted by the ld. AO within the ken of section 68

ITO, WARD-10(4), KOLKATA, KOLKATA vs. M/S HAPPY BAGANS PVT. LTD., KOLKATA

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

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2270/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Trend Infra Developers Pvt. Ltd. [Pan: Aadct 6373 M ] (Appellant) (Respondent) I.T.A No. 2273/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Happy Bagans Pvt. Ltd. [Pan: Aacch 3712 K ] (Appellant) (Respondent)

57,900/- from six shareholders and Rs. 2,88,92,100/- from the very same shareholders towards share premium. The share capital received by the assessee has been duly accepted by the ld. AO within the ken of section 68

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

section 68 in the context of the facts of the case. The assessing officer issued notices u/s 133(6) 14 share subscribers, calling for certain evidences, among which were: (i)copy of share application Form and also copy of share allotment letter. (ii)details of shares that have been allotted with distinctive nos. of shares. (iii)name address

ITO, WARD-10(4), KOLKATA, KOLKATA vs. M/S POSITIVE PROPERTIES PVT. LTD., KOLKATA

In the result, appeal of revenue is dismissed

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

57,900/- from six shareholders and Rs. 2,88,92,100/- from the very same shareholders towards share premium. The share capital received by the assessee has been duly accepted by the ld. AO within the ken of section 68

ITO, WARD-10(4), KOLKATA, KOLKATA vs. M/S GATEWAY ENCLAVE PVT.LTD., KOLKATA

In the result, appeal of Revenue is dismissed

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

57,900/- from six shareholders and Rs. 2,88,92,100/- from the very same shareholders towards share premium. The share capital received by the assessee has been duly accepted by the ld. AO within the ken of section 68

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), KOLKATA, KOLKATA vs. AVIMA EXPORTS PRIVATE LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

68 of the Income-tax Act, 1961 (the Act) in respect of bogus unsecured loans.\n2.1. The facts in brief are that the assessee company is a flagship company of 'Avima Group' and is in the business of trading in jute items. The assessee filed the return of income u/s 139(1) of the Act on 30.09.2016, declaring total income

KAJAL KUMAR ROY,HOOGHLY vs. ITO, WARD - 1(4), HOOGHLY, HOOGHLY

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri P.M. Jagtap] I.T.A. No. 1568/Kol/2017 Assessment Year : 2011-12 Shri Kajal Kumar Roy.............................…………………………………………Appellant C/O. S.N. Ghosh & Associates, Advocates, “Seven Brothers”, Lodge, Buroshibtala, Chinsurah, Hooghly – 712 105 [Pan : Adgprs 8137 G] Income Tax Officer...................……………………………………………….......Respondent Ward 1(4), Hooghly Aayakar Bhawan, G.T. Road Khadina More, Chinsurah, Hooghly – 712 101 Appearances By: Shri Somnath Ghosh, Advocate Appearing On Behalf Of The Assessee. Shri Satyajit Mondal, Addl. Cit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 31, 2017 Date Of Pronouncing The Order : December 22, 2017 Order This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Cit (Appeals) – 6, Kolkata Dated 20.04.2017 & The Solitary Issue Involved Therein Relates To The Addition Of Rs. 13,03,000/- Made By The A.O. & Confirmed By The Ld. Cit (A) On Account Of Loans Taken By The Assessee From Four Parties By Treating The Same As Unexplained Cash Credits Under Section 68. 2. The Assessee In The Present Case Is An Individual Who Is Engaged In The Business Of Trading Of Potatos. The Return Of Income For The Year Under Consideration Was Filed By Him On 25.09.2011 Declaring A Total Income Of Rs. 10,92,457/- Including Agricultural Income Of Rs.

section 68 of the Act to prove the genuineness of transactions which had been done by way of account payee cheques and the creditworthiness and identity of the loan creditors. Moreover, the loan creditors appeared before the AO in response summons u/s 131 of the Act and confirmed the transactions. The 10 I.T.A. No. 1568/Kol/2017 A.Y. 2011-12 Kajal

ELEGANT DEALMARK PVT. LTD.,KOLKATA vs. ITO, WARD-5(3), KOLKATA

In the result, the appeal filed by the assessee is partly allowed, with Ground No

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section u/s 68 of the Act was not discharged and thereafter, he proceeded to confirm the addition made by the ld. AO. Also, regarding the disallowance of Rs. 9,647/-, the ld. CIT(A) confirmed the action of ld. AO. Page 2 of 15 I.T.A. No.: 51/KOL/2024 Assessment Year: 2012-13 Elegant Dealmark Pvt. Ltd. 1.3. Aggrieved with

ITO, WD-5(3), KOLKATA, KOLKATA vs. M/S BLESSING COMMERCIAL PVT. LTD., KOLKATA

In the result we set aside the order of the Ld

Bench: Hon‟Ble Sri J. Sudhakar Reddy, Am & Sri S.S. Viswanethra Ravi, Jm] I.T.A. No. 271/Kol/2014 Assessment Year : 2010-11 I.T.O., Ward-5(3), Kolkata -Vs.- M/S. Blessings Commercial Pvt. Ltd. 228A, A.J.C. Bose Road, Kolkata – 700 020 [Pan : Aaccb 1349 N] (Appellant) (Respondent) For The Appellant : Shri Goulen Hangshing, Cit, Dr. For The Respondent : Shri Manoj Kataruka, Advocate Date Of Hearing : 12.06.2017 Date Of Pronouncement : 28.06.2017 Order Per J. Sudhakar Reddy, Am This Is An Appeal Filed By The Revenue Directed Against The Order Of The Commissioner Of Income Tax (Appeals)-Vi, Kolkata, (Hereinafter The “Ld. Cit(A)”), Dt. 19/11/2013, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter The „Act‟), Relating To Assessment Year 2010-11. 2. Facts In Brief:- The Assessee Is A Company & Is Engaged In The Business Of Finance & Investment. It Filed Its Return Of Income For The Assessment Year 2011-12 On 22/09/2010, Declaring –Nil- Income. It Showed A Loss Of Rs.668/-. The Facts As Recorded By The Assessing Officer In The Assessment Order Are Extracted Below:- “Para 1.2.1 The Assessee Has Shown Receipt Of Under Mentioned Share Capital Of Rs.1,90,00,000/- & Share Premium Of Rs.188,10,00,000/- During The Asst. Year 2010-11. The Assessee Credited Rs.1,90,00,000/- In Total In Its Books Against The Above Receipts. The Assessee Claimed That The Detail Of Receipts Are As Under :-

57 of which the Court can take judicial notice is not exhaustive and indeed the purpose of the section is to provide that the Court shall take judicial notice of certain facts rather than exhaust the category of facts of which the Court may 27 I.T.A. No. 271/Kol/2014 Assessment Year : 2010-11 M/s. Blessings Commercial Pvt. Ltd. in appropriate

ITO, WD-5(2), KOLKATA, KOLKATA vs. M/S SAYAJI MARKETING PVT. LTD., KOLKATA

In the result we set aside the order of the Ld

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 282/Kol/2014 Assessment Year : 2010-11 Ito, Ward-5(2), Kolkata -Vs- M/S Sayaji Marketing Pvt. Ltd. [Pan: Aagcs 0147 M] (Appellant) (Respondent) C.O. No. 39/Kol/2018 (Arising Out Of I.T.A No. 282/Kol/2014) Assessment Year : 2010-11 M/S Sayaji Marketing Pvt. Ltd. -Vs- Ito, Ward-5(2), Kolkata [Pan: Aagcs 0147 M] (Cross Objector) (Respondent)

57 of which the Court can take judicial notice is not exhaustive and indeed the purpose of the section is to provide that the Court shall take judicial notice of certain facts rather than exhaust the category of facts of which the Court may in appropriate cases take judicial notice. Recognition of facts without formal proof is a matter

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

In the result, the appeal of the Revenue is dismissed

57,50,000/- from above mentioned lending\ncompanies through banking channel and the same is well reflected in the books of account. The three\ningredients of the Section 68