SRIDHARPUR CO-OPERATIVE BANK,BARDHAMAN vs. ITO, WARD-3(2), BURDWAN

In the result, the appeal filed by the assessee is allowed

Bench: Shri George Mathan & Shri Rakesh Mishra

68, section 69, section 69A, section 69B, section 69C or section 69D for any previous

ALISHAN STEELS (P)LTD,KOLKATA vs. DCIT, CIRCLE-1(1), KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawal

68 or section 69 or section 69A or section 69C or section 69D." The intention of the legislature

ALISHAN STEELS PVT. LTD,KOLKATA vs. DCIT, CIRCLE-1(1), KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawal

68 or section 69 or section 69A or section 69C or section 69D." The intention of the legislature

SANJAY KUMAR GUPTA,BURDWAN vs. ACIT, CENTRAL CIRCLE 2(1), , KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm It(Ss)A No. 50/Kol/2025 (Assessment Year: 2020-21) Sanjay Kumar Gupta Jamuria Hat, Jamuria Thana Acit, Cc 2(1) More, Bypass Road, 110, Shantipally, E.M. Bypass, Vs. Jamurai, Burdwan, Kolkata-700107, West Bengal West Bengal-713336 (Appellant) (Respondent) Pan No. Aczpg4735H Assessee By : Shri S.K. Tulsiyan & Ms. Sonam Bajoria, Ars Revenue By : Shri S.B. Chakraborthy, Dr Date Of Hearing: 13.08.2025 Date Of Pronouncement: 11.11.2025

Section 68, 69A, 69B, 69C, 69D of the Act. We have also perused provisions of sections 68,69,69A to 69D

M/S STEEL AUTHORITY OF INDIA EMPLOYEES CO OPERATIVE CREDIT SOCIETY LIMITED ,KOLKATA vs. PCIT, KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.207/Kol/2022 Assessment Year: 2017-18 M/S Steel Authority Of India Co-Operative Credit Society Limited.......….Appellant Ispat Cooperative House, 12, Charu Chandra Place Ispat Co-Operative House, Charu Market, Kolkata-700 033. [Pan: Aadas9699B] Vs. Pcit-9, Kolkata..……...…..…....................……........……............…...…..Respondent Appearances By: Shri S. K. Tulsiyan, Advocate & Puja Somani, Ca, Appeared On Behalf Of The Appellant. Shri Amol Kamat, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : July 20, 2022 Date Of Pronouncing The Order : July 28, 2022 Order Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 29.03.2022 Passed By The Principal Commissioner Of Income Tax, Asansol [Hereinafter Referred To As ‘Pcit’] Exercising His Revision Jurisdiction U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

68,section 69, section 69A, section 69B,section 69C or section I.T.A. No.207/Kol/2022 Assessment Year: 2017-18 M/s Steel Authority of India Co-Operative Credit Society Limited 69D

A.C.I.T., CIRCLE-2, HOOGLY, HOOGHLY vs. SWAPAN KUMAR MONDAL, HOOGHLY

In the result, appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2008-09 Assistant Commissioner Of Income Tax, Circle-2, Hooghly……...……...………………...……..Appellant Swapan Kumar Mondal..…….…..…….……………………..…………………………………..……….…..Respondent Uttarayan Station Road Chinsurah R.S. Dist. Hooghly Pin – 712 102 [Pan : Aedpm 6336 A]

section 68 to 69D of the I T Act and the same cannot be se.t off with the other

PEERLESS HOTELS LTD. ,KOLKATA vs. ACIT, CIR-8(2), KOL, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 545/Kol/2023 Assessment Year: 2017-2018 Peerless Hotels Limited,..........................Appellant 12, J.L. Nehru Road, Kolkata-700013 [Pan: Aabcp9484D] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-8(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Soumitra Choudhury, Advocate, Appeared On Behalf Of The Assessee Shri B.K. Singh, Jcit (Sr. D.R.), Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : August 09, 2023 Date Of Pronouncing The Order : November 07, 2023

sections 68, 69, 69A, 69B, 69C or 69D, then no computation of tax under section 115BBE was required

HIRANMOY DAS,DURGAPUR vs. PCIT, ASANSOL

In the result, the appeal filed by the assessee is partly allowed

Bench: 25.04.2022. 3. That There Is A Delay Of 728 (Seven Hundred & Twenty-Eight) Days In Filing The Appeal.

sections 68, 69,69A,69B,69C and 69D of the Act. Since the Ld. AO has not used any of these

M/S. SUPRABHA INDUSTRIES LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE - 4(3), , KOLKATA

Appeals are allowed

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.2372&2373/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) M/S Suprabha Industries Ltd. Vs. Dcit, Central Circle-4(3), Kolkata Continental Chambers, 15A Hemant Basu Sarani, Kolkata "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcs9389J (Appellant) .. (Respondent) Appellant By : Shri Miraj D. Shah, A/R Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 19/10/2020 घोषणाक"तार"ख/Date Of Pronouncement : 22/10/2020 आदेश / O R D E R Per Shri S. S. Godara: These Assessee’S Two Appeals For Assessment Years 2013-14 & 2014-15 Arise Against The Commissioner Of Income Tax (A) - 21, Kolkata’S Separate Orders Both Dated 27.08.2018 Passed In Case No.10527&10538/Dcit,Cc-4(3)/Cit(A)- 21/Kol/2016-17 Involving Proceedings U/S 271Aab Of The Income Tax Act, 1961; In Short ‘The Act’; Respectively. Heard Both The Parties. Case Files/Records Perused. 2. The Assessee’S Identical Sole Substantive Grievance In Both These Appeals Challenges Correctness Of The Lower Authorities’ Action Imposing Section 271Aab Penalties Of Rs.44,93,035/- @30% Of The Alleged Undisclosed Income Of Rs.1,49,76,784/- Each By The Assessing Officer In His Twin Separate Orders; Both Dated 28.09.16 & Restricted To 10% Each In The Cit(A)’S Lower Appellate Discussion Reading As Under:

Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy

M/S. SUPRABHA INDUSTRIES LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE - 4(3), , KOLKATA

Appeals are allowed

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.2372&2373/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) M/S Suprabha Industries Ltd. Vs. Dcit, Central Circle-4(3), Kolkata Continental Chambers, 15A Hemant Basu Sarani, Kolkata "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcs9389J (Appellant) .. (Respondent) Appellant By : Shri Miraj D. Shah, A/R Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 19/10/2020 घोषणाक"तार"ख/Date Of Pronouncement : 22/10/2020 आदेश / O R D E R Per Shri S. S. Godara: These Assessee’S Two Appeals For Assessment Years 2013-14 & 2014-15 Arise Against The Commissioner Of Income Tax (A) - 21, Kolkata’S Separate Orders Both Dated 27.08.2018 Passed In Case No.10527&10538/Dcit,Cc-4(3)/Cit(A)- 21/Kol/2016-17 Involving Proceedings U/S 271Aab Of The Income Tax Act, 1961; In Short ‘The Act’; Respectively. Heard Both The Parties. Case Files/Records Perused. 2. The Assessee’S Identical Sole Substantive Grievance In Both These Appeals Challenges Correctness Of The Lower Authorities’ Action Imposing Section 271Aab Penalties Of Rs.44,93,035/- @30% Of The Alleged Undisclosed Income Of Rs.1,49,76,784/- Each By The Assessing Officer In His Twin Separate Orders; Both Dated 28.09.16 & Restricted To 10% Each In The Cit(A)’S Lower Appellate Discussion Reading As Under:

Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy

ACIT, CENTRAL CIRCLE - 4(3), , KOLKATA vs. SRI DEVENDRA KUMAR MANTRI , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy

ACIT, CENTRAL CIRCLE - 4(3), , KOLKATA vs. SRI DEVENDRA KUMAR MANTRI , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy

K.R.OVERSEAS PVT. LTD,KOLKATA vs. PCIT-(CENTRAL)-2, KOLKATA

In the result, the appeal filed by the assessee is allowed as per the terms indicated above

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115BBE of the Act was brought into Finance Act, 2016 with effect from 01.04.2017 not allowing set off of any loss against the additions made u/s 68, 69, 69A, 69B, 69C, 69D

DCIT, CIRCLE - 3(1), KOLKATA , KOLKATA vs. M/S. ATIBIR HI-TECH PVT. LTD., , KOLKATA

In the result, the appeal of the revenue as well as cross- objection of the assessee are dismissed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey, Jm] Assessment Year: 2013-14 D.C.I.T, Circle – 3(1) Kolkata...........................................................................................Appellant P-7, Chowringhee Squar, 4Th Floor, Aayakar Bhawan, Room No. 19, Kolkata – 700 069. M/S. Atibir Hi-Tech Pvt. Ltd. …………………………………………………….......................Respondent Block-7B, 7Th Floor, Abdul Hamid Street, Kolkata – 700 069. [Pan : Aabca 4466 C] C.O. No. 118/Kol/2017 (Arising Out Of Ita No. 1747/Kol/2017) Assessment Year: 2013-14 M/S. Atibir Hi-Tech Pvt. Ltd. ……………………………………………………..................Cross-Objector Block-7B, 7Th Floor, Abdul Hamid Street, Kolkata – 700 069. [Pan : Aabca 4466 C] D.C.I.T, Circle – 3(1) Kolkata.......................................................................................Respondent P-7, Chowringhee Squar, 4Th Floor, Aayakar Bhawan, Room No. 19, Kolkata – 700 069. Appearances By: Shri Radhey Shyam, Cit, Dr Appearing On Behalf Of The Revenue Shri D.S. Damle, Fca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : January 16, 2019 Date Of Pronouncing The Order : March 29, 2019 Order Per P.M. Jagtap, Vice-(Kz) This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 11, Kolkata Dated 04.042017 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 118/Kol/2017. 2 Ita No. 1747/Kol/2017 & C.O. No. 118/Kol/2017 Assessment Year 2013-14 M/S. Atibir Hi-Tech Pvt. Ltd.

Section 115BBE does not allow set off of income assessed as cash credit u/s 68 against the loss under any other head as per the provisions of Sec. 71. The legislature in all its wisdom has decided not to allow set off of loss under any provisions of this Act w.e.f. 01.04.2017 in computing the income

M/S SKIPPER LIMITED,KOLKATA vs. DCIT, CEN. CIR. 3(1), KOLKATA

In the result, the appeal of the assessee is allowed

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

68 / 69/ 69A/ 69B / 69C/ 69D of the Act. This Circular was brought out in view of amendment brought about by Finance Act, 2016 w.e.f 01.04.2017 which provides that no set off of any loss shall be given to assessee under the any of provision of the Act against the income as referred to in Clause