M/S. AIC IRON INDUSTRIES PVT. LTD.,KOLKATA vs. PR.CIT-1, KOLKATA

Appeal is allowed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A No.1332/Kol/2019 ("नधा"रण वष" / Assessment Year: 2014-15) Aic Iron Industries Pvt. Ltd. Vs. Pcit-1, Kolkata 25, Ganesh Chandra Avenue, 4Th Floor, Kolkata – 700013. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccn0217F (Appellant) .. (Respondent) Appellant By : Shri Sunil Surana, Fca Respondent By : Shri Radhey Shyam, Cit सुनवाईक"तार"ख/ Date Of Hearing : 16/12/2019 घोषणाक"तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara: This Assessee’S Appeal For Assessment Year 2014-15 Arises Against The Principal Commissioner Of Income Tax (A), Kolkata Dated 12.03.2019 Involving Proceedings U/S 263 Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. Relevant Facts Involved In The Instant Lis Are In A Very Narrow Compass. The Assessing Officer Has Framed His Regular Assessment In Issue Dated 19.12.16 Disallowing Administrative Expenditure Of Rs.46,420/- Under Rule 8D(2)(Iii) R.W. Section 14A Of The Act. The Pcit Assumed His Revision Jurisdiction Terming The Above Regular Assessment As Erroneous Causing Prejudice To Interest Of The Revenue Since There Were ‘Large Specific Domestic Transactions” & The Assessing Officer Had Completed His Assessment Without Making Any Reference To The Tpo To Determine Arm’S Length Price Thereof. He Quotes Cbdt Instruction No.3/2016 Dated 10.03.16 Regarding Guidelines For Implementation Of Transfer Pricing

transfer pricing adjustment of Rs. 10 Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c) where search and seizure

M/S. EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee stands allowed

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

transfer pricing adjustment of Rs. 10 Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c) where search and seizure

LINC PEN & PLASTICS LTD.,KOLKATA vs. PR. CIT, KOLKATA-4, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

transfer pricing adjustment of ₹10 Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c) where search and seizure

ZYDUS HEALTHCARE LIMITED,AHMEDABAD vs. PCIT, SILIGURI

In the result, the appeal of the assessee is allowed

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

transfer pricing adjustment of Rs.10 crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c) Where search and seizure

AMRIT FEEDS LTD,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

transfer pricing report in Form 3CEB, books of account and other records seized during the search proceedings u/s. 132 of the Act. ITA No.753-756/Kol/2017 A.Ys. 11-12 & 13-14 Amrit Feeds & Amricon Agrovete Pvt. Ltd. Vs. DCIT, CC-2(1), Kol. Page 5 v) The instant assessment was completed by the AO after obtaining the prior approval from the ACIT

AMRIT HATCHERIES PVT. LTD,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

transfer pricing report in Form 3CEB, books of account and other records seized during the search proceedings u/s. 132 of the Act. ITA No.753-756/Kol/2017 A.Ys. 11-12 & 13-14 Amrit Feeds & Amricon Agrovete Pvt. Ltd. Vs. DCIT, CC-2(1), Kol. Page 5 v) The instant assessment was completed by the AO after obtaining the prior approval from the ACIT

AMRICON AGROVET PVT. LTD.,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

transfer pricing report in Form 3CEB, books of account and other records seized during the search proceedings u/s. 132 of the Act. ITA No.753-756/Kol/2017 A.Ys. 11-12 & 13-14 Amrit Feeds & Amricon Agrovete Pvt. Ltd. Vs. DCIT, CC-2(1), Kol. Page 5 v) The instant assessment was completed by the AO after obtaining the prior approval from the ACIT

AMRICON AGROVET PVT. LTD.,KOLKATA vs. DCIT, CENTRAL CIRCLE-2(1), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2013-14 Amrit Feeds Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5571 D] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Assessment Year: 2013-14 Amrit Hatcheries Ltd. V/S. Dcit, Central Circle- 158, Lenin Sarani, 2Nd 2(1), 110, Shantipally, Floor, Kolkata-13 Em By-Pass, [Pan No.Aacca 5987 A] Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent

transfer pricing report in Form 3CEB, books of account and other records seized during the search proceedings u/s. 132 of the Act. ITA No.753-756/Kol/2017 A.Ys. 11-12 & 13-14 Amrit Feeds & Amricon Agrovete Pvt. Ltd. Vs. DCIT, CC-2(1), Kol. Page 5 v) The instant assessment was completed by the AO after obtaining the prior approval from the ACIT

IMC LIMITED ,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

transfer pricing adjustment of Rs.10 (b) Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and where search and seizure

M/S. SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

seizure operation conducted\non the assessee. Admittedly, there is no incriminating material found in the\ncourse of search in relation to the carbon credit. It is also an admitted fact\nthat the assessee has in his audited accounts under the head revenue from\noperations in the notes to the financial statements at para 17 shown the\nincome from the carbon

M/S. SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And Energy

Bench: Shri George Mathan & Shri Rakesh Mishrashyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1016 & 1017/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 & 2018-2019) Shyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1018 - 1020/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 To 2019-2020) Shyam Sel & Power Limited Vs Acit, Central Circle-1(1), 5, Ss Chamber, 2Nd Floor, Kolkata Pincep Street, C.R.Avenue, Kolkata-700072 Pan No. :Aaecs 9421 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri A.K. Tulsiyan, Fca & Robin Maheshwari, Aca रधजस्व की ओर से /Revenue By : Shri Raja Sengupta, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 13/08/2025 घोषणा की तारीख/Date Of Pronouncement : 13/08/2025 आदेश / O R D E R Per George Mathan, Jm: These Are The Appeals Filed By The Two Different Assessees Against The Separate Orders Passed By The Ld. Pr.Cit(Central), Kolkata-1, Dated 07.03.2024, 14.03.2024 & 18.03.2024, Respectively For The Assessment Years 2014-2015, 2017-2018, 2018-2019 & 2019-2020, Respectively.

seizure operation conducted on the assessee. Admittedly, there is no incriminating material found in the course of search in relation to the carbon credit. It is also an admitted fact that the assessee has in his audited accounts under the head revenue from operations in the notes to the financial statements at para 17 shown the income from the carbon

M/S SHYAM METALICS AND ENERGY LTD.,KOLKATA vs. ACIT, CEN. CIR. 1(1), KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

seizure operation conducted\non the assessee. Admittedly, there is no incriminating material found in the\ncourse of search in relation to the carbon credit. It is also an admitted fact\nthat the assessee has in his audited accounts under the head revenue from\noperations in the notes to the financial statements at para 17 shown the\nincome from the carbon

SHYAM SEL & POWER LIMITED,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And Energy

Bench: Shri George Mathan & Shri Rakesh Mishrashyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1016 & 1017/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 & 2018-2019) Shyam Metalics & Energy Ltd Vs Acit, Central Circle-1(1), 83 Trinity Tower, 7Th Floor, Kolkata Topsia Road, Topsia, Kolkata-700046 Pan No. :Aahcs 5842 A Ita No.1018 - 1020/Kol/2024 (निर्धारण वर्ा /Assessment Year : 2017-2018 To 2019-2020) Shyam Sel & Power Limited Vs Acit, Central Circle-1(1), 5, Ss Chamber, 2Nd Floor, Kolkata Pincep Street, C.R.Avenue, Kolkata-700072 Pan No. :Aaecs 9421 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Shri A.K. Tulsiyan, Fca & Robin Maheshwari, Aca रधजस्व की ओर से /Revenue By : Shri Raja Sengupta, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 13/08/2025 घोषणा की तारीख/Date Of Pronouncement : 13/08/2025 आदेश / O R D E R Per George Mathan, Jm: These Are The Appeals Filed By The Two Different Assessees Against The Separate Orders Passed By The Ld. Pr.Cit(Central), Kolkata-1, Dated 07.03.2024, 14.03.2024 & 18.03.2024, Respectively For The Assessment Years 2014-2015, 2017-2018, 2018-2019 & 2019-2020, Respectively.

seizure operation conducted on the assessee. Admittedly, there is no incriminating material found in the course of search in relation to the carbon credit. It is also an admitted fact that the assessee has in his audited accounts under the head revenue from operations in the notes to the financial statements at para 17 shown the income from the carbon

SHYAM SEL & POWER LIMITED,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

seizure operation conducted\non the assessee. Admittedly, there is no incriminating material found in the\ncourse of search in relation to the carbon credit. It is also an admitted fact\nthat the assessee has in his audited accounts under the head revenue from\noperations in the notes to the financial statements at para 17 shown the\nincome from the carbon

M/S. SHYAM SEL AND POWER LIMITED,KOLKATA vs. ACIT, CC - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee-M/s Shyam Metalics And\nEnergy Ltd

seizure operation conducted\non the assessee. Admittedly, there is no incriminating material found in the\ncourse of search in relation to the carbon credit. It is also an admitted fact\nthat the assessee has in his audited accounts under the head revenue from\noperations in the notes to the financial statements at para 17 shown the\nincome from the carbon

SMT. LAXMI DEVI CHINDALIA ,KOLKATA vs. ITO, WARD - 35(3), KOLKATA

In the result, the appeal is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 2241/Kol/2018 Assessment Year : 2010-11 Smt. Laxmi Devi Chindalia Vs. I.T.O, Ward 34(2) Pan: Acopc8728P Kolkata (Appellant) (Respondent) I.T.A No. 2242/Kol/2018 Assessment Year : 2010-11 Shri Aditya Chindalia Vs. I.T.O, Ward 34(2) Pan: Afkpc6363F Kolkata (Appellant) (Respondent)

search and seizure operation of the Bhanwari Lal Jain Group. b. The appellant has not been able to counter in any manner the observations of the Ld. AO regarding the bank statement furnished by the assessee, and the fact that from such statement it emerges .that the impugned payment was made in favor of the Seller nearly after one month

SHRI ADITYA CHINDALIA ,KOLKATA vs. ITO, WARD - 34(2), KOLKATA

In the result, the appeal is allowed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 2241/Kol/2018 Assessment Year : 2010-11 Smt. Laxmi Devi Chindalia Vs. I.T.O, Ward 34(2) Pan: Acopc8728P Kolkata (Appellant) (Respondent) I.T.A No. 2242/Kol/2018 Assessment Year : 2010-11 Shri Aditya Chindalia Vs. I.T.O, Ward 34(2) Pan: Afkpc6363F Kolkata (Appellant) (Respondent)

search and seizure operation of the Bhanwari Lal Jain Group. b. The appellant has not been able to counter in any manner the observations of the Ld. AO regarding the bank statement furnished by the assessee, and the fact that from such statement it emerges .that the impugned payment was made in favor of the Seller nearly after one month

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

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

seizure operation in their own case admitted that it is a circular trading provided to inflate the gross turnovers of the beneficiaries/clients. The entry operator Sri Sanjay Kumar Agarwal has stated in his sworn statement by the Investigation wing during the course of search at his premises on 13.02.2022 is reproduced as under for ready reference: Q.13 Please explain