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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

WINSHER COMMERCIAL PVT. LTD.,KOLKATA vs. I.T.O., WARD - 14(2), PRESENTLY D.C.I.T., CIRCLE-11(1), KOLKATAKOLKATA, KOLKATA

Appeal of the assessee is allowed for statistical purposes

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 668/Kol/2022 Assessment Year: 2014-2015 Winsher Commercial Pvt. Limited,…....….Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata-700069 [Pan:Aaacw3125H] -Vs.- Income Tax Officer,………………………………Respondent Ward-14(2), Kolkata, [Presently Dcit, Circle-11(1), Kolkata], Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Assessee Shri B.K. Singh, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : March 21, 2024 Date Of Pronouncing The Order : May 13, 2024 O R D E R

transferred by way of sale proceeds. As a result, some of BSE/CSE listed penny stocks were identified, which have been used for generating bogus LTCG. The SEBI vide order No. WTM/KMA/ND/415/2011 dated 12.03.2014 had suspended the; trading of shares (Penny Stock) w.e.f. 21.03.2014 due to non- compliance of Listing agreement. The AO has observed that the appellant

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act and allow the appeals of the assessee. ----------------------------------------------------------- It would kindly be appreciated that this decision of the Hon'ble Tribunal is also not applicable in the facts and circumstances of the case as the in this case the sales were genuine and which were matched with

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

The appeal of the Revenue is dismissed

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act and allow the appeals of the assessee. ----------------------------------------------------------- It would kindly be appreciated that this decision of the Hon'ble Tribunal is also not applicable in the facts and circumstances of the case as the in this case the sales were genuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act and allow the appeals of the assessee. ----------------------------------------------------------- It would kindly be appreciated that this decision of the Hon'ble Tribunal is also not applicable in the facts and circumstances of the case as the in this case the sales were genuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act and allow the appeals of the assessee. ----------------------------------------------------------- It would kindly be appreciated that this decision of the Hon'ble Tribunal is also not applicable in the facts and circumstances of the case as the in this case the sales were genuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act\nand allow the appeals of the assessee.\nIt would kindly be appreciated that this decision of the Hon'ble Tribunal is also not\napplicable in the facts and circumstances of the case as the in this case the sales were\ngenuine and which were matched with

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

69C of the Act. We, therefore, quash the orders u/s 263 of the Act and allow the appeals of the assessee. ----------------------------------------------------------- It would kindly be appreciated that this decision of the Hon'ble Tribunal is also not applicable in the facts and circumstances of the case as the in this case the sales were genuine and which were matched with

NAVANSH VINIMAY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

69C of the Act along with the sum of Rs. 63,76,486/- added under section 68 of the Act as unexplained cash credit. 4. Aggrieved with the assessment order, the assessee preferred an appeal before the Ld. CIT(A), who vide order dated 25.10.2022 dismissed the appeal. The relevant extracts from the order of Ld. CIT(A) containing