Section 139A of the Income Tax Act

M/S. Manohar Dealcom Private Limited., Kolkata vs. ITO, Ward-9(1), Kolkata.

In the result, appeal of the assessee is partly allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 634/Kol/2023 Assessment Year: 2014-15 M/S. Manohar Dealcom Private Limited Income Tax Officer, Ward – C/O Nigam Centre Vs 9(1), Kolkata 155, Lenin Sarani 1St Floor, Room No. 110 Kolkata- 700013 [Pan : Aafcm8273R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Surana, A/R Revenue By : Shri Arun Kumar Meena, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 07/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 12/04/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 29/04/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Notice U/S 143(2) Of The Act Was Issued By The Income Tax Officer, Ward 2(2), Kolkata Who Had No Jurisdiction Over The Case Of The Assessee & As Such The Assessment Is Bad In Law. 2. For That Ld. Cit(A) Erred In Confirming The Addition Of Rs. 3.86 Crore Made By The Ao U/S 69 In Respect Of Increase In Loans & Advances As Compared To Preceding Financial Year In Spite Of The Fact That The -Loans Were Duly Recorded In The Regular Books Of Account & Were Advanced Out Of Amount Received Against Sale Of Disclosed Investments.