SRI KAMLESH KUMAR SINGH,DALTONGANJ vs. ACIT,CIR-1, RANCHI

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 49/Ran/2017 Assessment Year: 2009-2010 Smt. Madhu Singh,...................................Appellant Hamidganj, Daltonganj-822101 [Pan: Bbjps0426B] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-1, Ranchi & I.T.A. Nos. 53 & 54/Ran/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kumar Singh,...................Appellant Hamidganj, Daltonganj-822101 [Pan: Afzps8288J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-1, Ranchi Appearances By: Shri Devesh Poddar, Advocate, Appeared On Behalf Of The Assessee Shri P.K. Koley, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : May 22, 2023 Date Of Pronouncing The Order : August 7Th, 2023 1 Assessment Year: 2009-2010 Smt. Madhu Singh & Ita Nos. 53 & 54/Ran/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kr. Singh

35,845/- treating the capital gain as bogus and sale consideration of the shares was considered as income from other sources. Appellant had filed complete details regarding purchase and sale of shares, period for which shares were made, sufficient evidence in support of purchase of shares and sale of shares was filed. Transaction was through proper banking channels and bonafide

ACIT, CIRCLE-3, RANCHI vs. SHRI SUMIT RAMSISARIA, RANCHI

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

bogus sundry creditor liability u/s 41(1) of the Act. More so, when there is no indication about the said sum involving any cessation or remission of liability as per this tribunal’s co-ordinate bench decision in Income Tax Officer Ward 12(1) Kolkata vs. M/s Standard Leather Pvt. Ltd. in ITA No.2620/Kol/2013 decided on 07.09.2016 holding as under

PADAM KUMAE JAIN,RANCHI vs. CIT, CENTRAL, PATNA

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

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.289/Ran/2019 (िनधा"रणवष" / Assessment Year: 2012-13) Padam Kumar Jain Vs. Cit, Central, Cr Building, Beer Chand Patel Marg, Patna – 800001. Ratanlalsurajmal Compound, Main Road, Ranchi – 834001, Jharkhand "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abrpj 0001 E (Assessee) .. (Revenue)

35,951/-. (x).Details of purchases of Rs. 65,33,41,701/-. (xi)Compensation paid to employees of Rs. 2,17,23,268/-. (xii).Proof of service tax of Rs. 6,89,59,617/- paid during the year. (xiii). “Advertisement” expense along with proof of TDS on the same. (xiv). “Other expenses” of Rs. 45,13,68,375/-. (xv).Amount

SHAH BROTHERS,CHAIBASA vs. ACIT CENTRAL CIRCLE-1, RANCHI

In the result, this appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahayshah Brothers, A.C.I.T., Thana Lane, Chaibasa-833201 Central Circle-1, Vs. (Jharkhand) Ranchi. Pan No. Aazfs 7498 F Appellant/ Assessee Respondent/ Revenue

35 to 38 of its order has held as follows: "26. Next comes disallowance of ₹34,01,811/- on account of assessee’s payment made to M/s Rajshila Nirman Pvt. Ltd. for management consultancy services made by the Assessing Officer after holding that the said payee was a bogus entity already struck off from the muster data