ACIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA vs. HARISH BAGLA, KOLKATA

In the result, the I.T. Appeal in ITA No

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) I.T.A. No. 2302/Kol/2016 Assessment Year: 2013-14 & I.T.A. No. 2303/Kol/2016 Assessment Year: 2013-14 Asstt. Commissioner Of Income Tax, Cc-2(1), Kolkata…………….................………..…….......Appellant Vs. Harish Bagla…………………………......................................................................................…………Respondent Jaisalmer Building 6, Ashoka Road Kolkata – 700 027 [Pan : Abppb 7430 D] Appearances By: Shri D.S. Damle, Fca & Shri Akkal Dudhewala, Fca, Appeared On Behalf Of The Assessee. Dr. P.K. Srihari, Cit, D/R Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : August 8Th, 2019 Date Of Pronouncing The Order : October 1St , 2019 Order Per J. Sudhakar Reddy, Am :-

68,055/- was found from the residential premises and nothing was seized. From the locker of the assessee jewellery worth Rs.98,47,788/-, was found and nothing was seized. The Assessing Officer passed order u/s 143(3) of the Act, dt. 30/03/2015, determining the total income of the assessee at Rs.13,78,48,400/-, i.e., the income declared

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

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

income". The said meaning is not borrowed from Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed

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

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

income". The said meaning is not borrowed from Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed

ACIT CC-3(2) , KOLKATA vs. SMT. KALAWATI DEVI AGARWAL, BILASPUR

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

68] NOTE-1: UNDER SECTION 271AAA NO PENALTY WAS TO BE IMPOSED ON INCOME ADMITTED U/S 132(4). HOWEVER, PENALTY U/S 271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED

ACIT CC-3(2),, KOLKATA vs. SRI ARJUN LAL AGARWAL , KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

68] NOTE-1: UNDER SECTION 271AAA NO PENALTY WAS TO BE IMPOSED ON INCOME ADMITTED U/S 132(4). HOWEVER, PENALTY U/S 271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED

ACITCC-3(2), KOLKATA vs. SMT. SAVITRI DEVI AGARWAL, BILASPUR

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

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

68] NOTE-1: UNDER SECTION 271AAA NO PENALTY WAS TO BE IMPOSED ON INCOME ADMITTED U/S 132(4). HOWEVER, PENALTY U/S 271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED

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:

income". The said meaning is not borrowed from Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed

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:

income". The said meaning is not borrowed from Section 68 to 69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed

BENI PRASAD LAHOTI,HOWRAH vs. DCIT, CC-2(2), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

68,765/- section 139 Returned income under Rs. 8,76,720/- section 153A Income disclosed under Rs. 7,50,000/- section 132(4) Addition under section Rs. 1,37,648/- 14A Assessed income Rs.10,14,368/- Penalty proceedings were initiated in respect of the additional income disclosed under section 132(4) of Rs.7,50,000/-“. 5. The ld. Assessing Officer

BENI PRASAD LAHOTI,HOWRAH vs. DCIT, CC-2(2), KOLKATA

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

68,765/- section 139 Returned income under Rs. 8,76,720/- section 153A Income disclosed under Rs. 7,50,000/- section 132(4) Addition under section Rs. 1,37,648/- 14A Assessed income Rs.10,14,368/- Penalty proceedings were initiated in respect of the additional income disclosed under section 132(4) of Rs.7,50,000/-“. 5. The ld. Assessing Officer

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)

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition

ACIT, CIRCLE - 35, , KOLKATA vs. M/S. MACHINERY AGENCIES INDIA , KOLKATA

Bench: Shri P. M. Jagtap(Kz) & Shri A. T. Varkey]

section 68 cannot be read to show that in the case of failure of the sub creditors to prove their creditworthiness, the amount advanced as loan to the assessee by the creditor shall have to be treated, as a corollary, as the income from undisclosed

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)

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition

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]

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition

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

Income Tax (Appeals) 35. To sum up section 68 of the Act provides that if any sum found credited in the year in respect of which the assessee fails to explain the nature and source shall be assessed as its undisclosed

M/S. MATARANI VINTRADE PVT. LTD., ,KOLKATA vs. ITO, WARD - 15(1), KOLKATA , KOLKATA

Bench: Hon’Ble Shri P.M. Jagtap, V.P (Kz) & Hon’Ble Shri A. T. Varkey, Jm Assessment Year: 2012-13

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition

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)

Income Tax (Appeals) 35. To sum up section 68 of the Act provides that if any sum found credited in the year in respect of which the assessee fails to explain the nature and source shall be assessed as its undisclosed

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]

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition

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

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

undisclosed income under section 68 of the Income tax Act, 1961? We find no merit in this special leave petition