DCIT, CC-1(4), KOLKATA, KOLKATA vs. JUPITER INTERNATIONAL LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2014-15 Dcit, Cc-1(4), Kolkata ………….……………………….……….……….……Appellant Vs. Jupiter International Limited..……………………………….....……...…..…..Respondent Unnayanam, 20A, Ashutosh Chowdhury Avenue, Kol-19.. [Pan: Aaacj6956B] Appearances By: Shri P. N Barnwal, Cit-Dr, Appeared On Behalf Of The Appellant. Shri Soumitra Choudhury & Nandini Sureka, Advocate, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 12, 2026 Date Of Pronouncing The Order : January 21, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 29.10.2024 Of The National Faceless Appeal Centre [‘Cit(A)’] Passed Under Section 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2014–15. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 197 Days & The Revenue Has Filed A Petition For Condonation Of The Delay. After Going Over The Said Petition, We Find Sufficient Reasons Behind The Delay & Consequently, The Delay In Filing The Appeal Is Hereby Condoned & We Proceed To Dispose Of The Appeal On Merits.

transferred to the General Reserve, which can be distributed to shareholders, however, losses or depreciation cannot be taken from this reserve, it makes sure that a company's financial records show the real value of its assets, giving a clearer view of its finances. Therefore, it cannot be said to be a reserve set apart towards depreciation

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.

153A read with section 143(3) in this particular assessment year are not sustainable, as these are not linked to any incriminating material 4 ITANo.873,1016-1020/Kol/2024 found at the time of search. Hence, addition of Rs. 1,85,60,000/- u/s. 68 and the addition of Rs. 11,99,250/- on account of bogus trading loss are deleted

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.

153A read with section 143(3) in this particular assessment year are not sustainable, as these are not linked to any incriminating material 4 ITANo.873,1016-1020/Kol/2024 found at the time of search. Hence, addition of Rs. 1,85,60,000/- u/s. 68 and the addition of Rs. 11,99,250/- on account of bogus trading loss are deleted

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

153A\nvide order u/s\n153A\n(Date of Order)\nAllowed by CIT(A)\nHon'ble ITAT Order on 80-IA issue dated\n12.08.2024\n1\nShyam Metalics & Energy\nLtd\n2017-18\n(14.03.2024)\nIT(SS)A No. 106/Kol/2023 [A] -\n(28.07.2023) &\nIT(SS)A No. 127/Kol/2023 [D] -\n(24.08.2023)\n1,30,38,12,667\n11,77,59,811\nNil

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

153A\nvide order u/s\n153A\n(Date of Order)\nAllowed by AO\nAllowed by CIT(A)\nHon'ble ITAT Order on 80-IA issue dated\n12.08.2024\nSHYAM SEL GROUP\n1\nShyam Metalics & Energy\nLtd\n2017-18\n11,77,59,811\n1,30,38,12,667\n12,17,57,431\n11,77,59,811\n(31.08.2021)\n(02.06.2023)\ni) Assessee

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

153A\nvide order u/s\n153A\n(Date of Order) | Allowed by CIT(A)\n(Date of Order) | Hon'ble ITAT Order on 80-IA issue dated\n12.08.2024\n|---|---|---|---|---|---|---|---| \n| 1 | Shyam Metalics & Energy\nLtd |\n2017-18\n(14.03.2024) | IT(SS)A No. 106/Kol/2023 [A] -\n(28.07.2023) &\nIT(SS)A No. 127/Kol/2023