DCIT CENTRAL CIRCLE 1(4), KOLKATA, KOLKATA vs. EDUCO VENTURES PVT LTD, KOLKATA

Appeal is dismissed

Bench: the AO.

survey operation u/s 133A of the Act was conducted on 04.11.2019 during which certain incriminating documents were found. The case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2021. In com- pliance, the assessee filed return of income declaring loss of Rs. 3,03,01,821/-. The AO observed

DCIT, CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. EDUCO VENTURES PVT LTD., KOLKATA

Appeal is dismissed

Bench: the AO.

survey operation u/s 133A of the Act was conducted on 04.11.2019 during which certain incriminating documents were found. The case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2021. In com- pliance, the assessee filed return of income declaring loss of Rs. 3,03,01,821/-. The AO observed

EDUCO VENTURES PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(4), KOLKATA

Appeal is dismissed

Bench: the AO.

survey operation u/s 133A of the Act was conducted on 04.11.2019 during which certain incriminating documents were found. The case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 31.03.2021. In com- pliance, the assessee filed return of income declaring loss of Rs. 3,03,01,821/-. The AO observed

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

Accordingly the ground No. 2 is dismissed by upholding the order of Ld

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Central Circle 4(3) Avima Exports Private Limited 4Th Ns Road, Dalhousie, Kolkata, 110, Shantipally, Vs. Kolkata-700107, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aagca5857N Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 03.09.2025 Date Of Pronouncement: 11.11.2025

survey conducted u/s 133A of the Act in which the directors of the assessee admitted to have received accommodation entries in the form of unsecured loans. However, the statements recorded were retracted later on the ground that undue pressure was exerted on the persons whose statements were recorded. We note that apart from the statements of the key persons, there

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

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

Accordingly the ground No. 2 is dismissed by upholding the order of Ld

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

survey conducted u/s 133A of the Act in which the directors/ other persons of the assessee admitted to have received accommodation entries in the form of unsecured loans. However, the statements recorded 4 Privi Exports Private Limited were retracted later on the ground that undue pressure was exerted on the persons whose statements were recorded. We note that apart from

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

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search and seizure

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

133A of the Act, but a retracted statement even under section 132(4) of the Act would require some corroborative material for the AO to proceed to make additions on the basis of such statement. 12.2 In the case of “Basant Bansal vs. ACIT” reported in (2015)63 taxmann.com 199 (Jaipur Trib.), the assessee therein, during the search and seizure

JEWEL INDIA JEWELLERS ,KOLKATA vs. DCIT, CEN. CIR. 4(4), KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 68 of the Act read with 115BBE of the Act. 4. Facts in brief are that the survey action u/s 133A

JEWEL INDIA JEWELLERS,KOLKATQA vs. DCIT, CEN. CIR. 4(4), KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 68 of the Act read with 115BBE of the Act. 4. Facts in brief are that the survey action u/s 133A

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. VIVEK GUPTA, KOLKATA

The appeal of the revenue is dismissed

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI SONJOY SARMA (Judicial Member)

survey conducted u/s 133A of the Act in which Shri Vivek Gupta and others admitted to have received accommodation entries in the form of unsecured loans. However, the statements recorded were retracted later on the ground that undue pressure was exerted on the assessee/ persons whose statements were recorded. We note that apart from the statement of the assessee, there

DCIT, CC-2(3), KOLKATA, AAYAKAR BHAWAN POORVA vs. MAXCAB INDUSTRIES PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Dcit, Central Circle-2(3), Maxcab Industries Pvt. Ltd. 4Th Floor, 110 Shantipally, 67/C, Balaram Dey Street, E.M. Bypass, Vs. West Bengal-700006 West Bengal-700107 (Appellant) (Respondent) Pan No. Aancm1997Q Assessee By : Shri Soumitra Choudhury & Ms. Nandini Surekh, Shri Pranabesh Sarkar, Ars Revenue By : Praveen Kishore, Dr Date Of Hearing: 04.09.2025 Date Of Pronouncement: 16.10.2025

section 68 of the Act, the action of the AO in considering the loan received by the appellant company of Rs. 11,50,00,000/- as unexplained cash credit u/s 68 is not sustainable and stands deleted. In view of the same, Ground No. 2 and 3 are allowed. Since I am holding the view that additions with respect

M/S MODERN MALLEABLES LIMITED,KOLKATA vs. D.C.I.T CIR - 8(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2013-14

survey if assessee has filed a retraction and alleged that the entries/ statement were recorded under pressure. A section 133A statement is merely information simpliciter and not evidence per se. Addition cannot be sustained if the Dept has not investigated the matter and find material to support the addition. b) CIT -vs.- Sunil Aggarwal [2015] 379 ITR 367 (Delhi) Held

M/S. KRISHNA TISSUES PVT. LTD., ,KOLKATA vs. ACIT, CENTRAL CIRCLE - 3(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 2215/Kol/2017 Assessment Year : 2014-15 M/S Krishna Tissues Pvt. Ltd. -Vs- Acit, Cc-3(1), Kolkata [Pan: Aacck 5813 G] (Appellant) (Respondent)

section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 29.12.2016 for the Assessment Year 2014-15. 2. The only issue to be decided in this appeal is as to whether the ld CITA was justified in upholding the addition made towards share capital u/s 68

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(1), KOLKATA, KOLKATA vs. AXIS OVERSEAS LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dy. Commissioner Of Income Tax, Cc 1(1), Kolkata Axis Overseas Limited Aaykar Bhawan Poorva, 21A, Shakespeare Sarani, Vs. 3Rd Floor, Kolkata-700107, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aagca7497L Assessee By : Shri Siddharth Agarwal, Ar Revenue By : Shri P.N. Barnwal, Dr Date Of Hearing: 13.11.2025 Date Of Pronouncement: 03.12.2025

section 68 of the Act on the ground that the assessee failed to discharge its onus to establish identity, creditworthiness and genuineness of the transaction in respect of the money received through cash trail. The CIT(A) in course of hearing the appeal called for a remand report from the Assessing Officer and in the said remand report the Assessing

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. SURESH KUMAR BANTHIA, KOLKATA

In the result, the appeal of the Revenue is dismissed and the Cross\nObjection of the assessee is partly allowed

u/s 133A of\nthe Act dated 19.02.2020. It is imperative to mention that from the assessment order\nof AY 2016-17, none of the impounded papers and documents of survey utilized in the\npresent assessment year to make any addition. The additions made by the AD to the\nextent of Rs.36.65 cores based on the seized material found from

DCIT CC 2(2) KOLKATA, KOLKATA vs. AKRITI SALES PVT LTD, KOLKATA

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

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit Cc2(2) Kolkata Akriti Sales Pvt. Ltd. Aaykar Bhawan Poorva 34 Indra Kumar Karnani Street, 110 Shanti Pally, Kolkata, Vs. Kolkata-700001, West Bengal Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aagca2765B Co No. 70/Kol/2025 (Ita No. 1779/Kol/2025 For A.Y. 2015-16) Dcit Cc2(2) Kolkata Akriti Sales Pvt. Ltd. Aaykar Bhawan Poorva 34 Indra Kumar Karnani Street, 110 Shanti Pally, Kolkata, Vs. Kolkata-700001, West Bengal Kolkata-700107, West Bengal (Respondent) (Appellant) Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Manas Mondal, Dr Date Of Hearing: 16.10.2025 Date Of Pronouncement: 04.12.2025

68 when the AO himself admitted that the income was derived from sale of flats. In other words, the income from business was proved from the impounded documents and accepted as such and even otherwise the presumption u/s 292C was applicable that the contents of the impounded papers in survey u/s 133A were true. The Ld. CIT(A) accepted that

DCIT, CENTRAL CIRCLE-1(4), KOLKATA, KOLKATA vs. MURLIDHAR RATANLAL EXPORTS LIMITED, KOLKATA

In the result, the appeals of the Revenue are dismissed and the COs of the assessee are partly allowed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

133A of the Act was conducted on the premises of the assessee on 04.011.2019, during which some documents were found. Based on the findings of the survey team, the ld. AO reopened the assessment u/s 147 of the Income-tax Act, 1961 (the Act) by issuing notice u/s 148 of the Act on 01.04.2021, which were duly served upon