ITO, WARD - 4(1), KOLKATA, KOLKATA vs. M/S. TRIBUTE TRADING AND FINANCE LTD.,, KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

transfer." It was further observed therein.- In context of determining whether a transaction is a sham or illusory or a device or a ruse. The income tax authorities are entitled to penetrate the veil covering it and ascertain the truth. The taxing authorities are not required to put on blinkers while looking at the documents produced before them. They

SRI SUBRATA BANERJEE ,KOLKATA vs. ACIT, CIRCLE - 51(1) , KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganesh

transfer." It was further observed therein.- In context of determining whether a transaction is a sham or illusory or a device or a ruse. The income tax authorities are entitled to penetrate the veil covering it and ascertain the truth. The taxing authorities are not required to put on blinkers while looking at the documents produced before them. They

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)

transfer of goods. In my considered view of the matter, the evidentiary value of payments by bank therefore is enormously diminished for the case at hand. e. I also find that there is no merit in the claim of the appellant that the Ld. AO did not conduct any independent enquiry from his side. It is to be observed that

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)

transfer of goods. In my considered view of the matter, the evidentiary value of payments by bank therefore is enormously diminished for the case at hand. e. I also find that there is no merit in the claim of the appellant that the Ld. AO did not conduct any independent enquiry from his side. It is to be observed that

SMT. SUSHILA DEVI KAJARIA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

transferred in the name of the assessee, they were still lying in the name of assessee much after the sale to M/s S.K. Sharma & Co. The learned CIT(A) deleted the addition on the ground that both the brokers from whom the shares have been purchased and sold were called under Section 131 by the AO. Both have confirmed

NAVIN KUMAR KAJARIA,KOLKATA vs. ACIT, CIRCLE - 35, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

transferred in the name of the assessee, they were still lying in the name of assessee much after the sale to M/s S.K. Sharma & Co. The learned CIT(A) deleted the addition on the ground that both the brokers from whom the shares have been purchased and sold were called under Section 131 by the AO. Both have confirmed

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

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

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

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

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

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

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