M/S. SRIRAM POWER & STEEL PVT. LTD.,,RAMGARH vs. PR. CIT(C), PATNA, PATNA

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

bogus share application money and share premium from the said two companies as per the facts available on the assessment record. According to Ld. PCIT, the AO has failed to examine the investment and issue of share capital and share premium and thus has not verified the identity, creditworthiness of the investors and genuineness of the transactions which has rendered

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

unexplained money in the hands of Kamlesh Kumar Singh 4 Assessment Year: 2009-2010 Smt. Madhu Singh & ITA Nos. 53 & 54/RAN/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kr. Singh and made a substantive addition under section 69A of the Act and for loan taken from her son, substantive addition of Rs.3,54,000/- made in the hands

ACIT, C.C.-1, RANCHI vs. M/S CHINTPURNI STEEL PVT. LTD.,, RANCHI

In the result, appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

bogus persons / entities as named in the assessment order. Hence the total amount of credit in the said current account was stood at Rs.34,13,13,634/- which is inclusive of cash deposits of Rs,7,20,46,000/- . These amounts were transferred to various ultimate beneficiaries through RTGS/Cheque 3 AY: 2013-14 M/s Chintpurni Steel

RASHMI SINGHANIA,KOLKATA vs. ITO, WARD-2(4), JAMSHEDPUR

In the result, the appeal of the assessee stands allowed

Bench: Sri Sanjay Gargi.T.A. No.208/Ran/2019 Assessment Year: 2014-15 Rashmi Singhania.…....……………… … ...........…………………………Appellant C/O. S. Singhania & Co. 7Th Floor, Room No.3, 2, Ganesh Chandra Avenue, Kolkata-700013. [Pan: Aswps1056N] Vs. Ito, Ward-2(4), Jamshedpur...........……………………...………..…..Respondent Appearances By: Shri R. K. Singhania, Advocate,Appeared On Behalf Of The Appellant. Smt. Chinmaya Aurangabadkar, Jcit, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing :March 24, 2021 Date Of Pronouncing The Order : April 30, 2021 Order The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 01.02.2019 Of The Commissioner Of Income Tax (Appeals), Jamshedpur [Hereinafter As ‘Cit(A)’]. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

unexplained sources. 4. The main reason on the basis of which the Assessing Officer has made the impugned addition is that the assessee has shown the aforesaid long-term capital gains from the share transactions made in respect of shares of Kailash Auto Finance Ltd. As per the information available with the Assessing Officer, the said Kailash Auto Finance

RAMA SHANKAR PRASAD ,RANCHI vs. DCIT,CIRCLE-1, RANCHI

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

Bench: Sri Rajesh Kumar & Sonjoy Sarma

bogus and accordingly by Page 2 of 6 I.T.A. No.: 115/RAN/2019 Assessment Year: 2015-16 Rama Shankar Prasad. issuing notice u/s 142(1) of the Act dated 25.10.2017 called upon the assessee to furnish the details of claim u/s 10(38) of the Act and also to establish the credibility, genuineness and authenticity of the said transactions. Thereafter again