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

292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect of such transaction as were contained in the loose paper which were found during the course of search. This was held by the Hon'ble Delhi High Court in case of PCIT Vs. Delco India (P.) ltd. reported

DCIT CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND LEASE FIN PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

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

292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect of such transaction as were contained in the loose paper which were found during the course of search. This was held by the Hon'ble Delhi High Court in case of PCIT Vs. Delco India (P.) ltd. reported

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

BALMUKUND CEMENT & ROOFINGS PVT. LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

292C of the Act is rebuttable when the assessee\nproved that he has not done any such transactions even in respect of\nsuch transaction as were contained in the loose paper which were\nfound during the course of search. This was held by the Hon'ble Delhi\nHigh Court in case of PCIT Vs. Delco India (P.) Itd. reported

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the revenue is dismissed

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

292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect of such transaction as were contained in the loose paper which were found during the course of search. This was held by the Hon'ble Delhi High Court in case of PCIT Vs. Delco India (P.) ltd. reported

GOPAL & SONS HUF,KOLKATA vs. I.T.O., WARD - 32(1), KOLKATA, KOLKATA

The appeal of the revenue is dismissed

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

292C of the Act is rebuttable when the assessee proved that he has not done any such transactions even in respect of such transaction as were contained in the loose paper which were found during the course of search. This was held by the Hon'ble Delhi High Court in case of PCIT Vs. Delco India (P.) ltd. reported

HARSHWARDHAN GEMS PVT. LTD.,KOLKATA vs. ITO, WARD - 12(3), KOLKATA, KOLKATA

In the result, both the appeals of revenue and that of assessee are dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

price of shares for the reason that such a premium was not justified considering the book value of the shares. 3.8 The A.O. has treated the entire amount of Rs.65,50,000/-, received by the assessee on account of share subscription and share premium, as assessee's undisclosed cash credit uls.68 of the Act. Now, it needs to be examined

ITO, WARD - 12(3), KOLKATA, KOLKATA vs. M/S. HARSHWARDHAN GEMS P. LTD., KOLKATA

In the result, both the appeals of revenue and that of assessee are dismissed

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

price of shares for the reason that such a premium was not justified considering the book value of the shares. 3.8 The A.O. has treated the entire amount of Rs.65,50,000/-, received by the assessee on account of share subscription and share premium, as assessee's undisclosed cash credit uls.68 of the Act. Now, it needs to be examined