Income Tax Appellate Tribunal - Kolkata
Ito, Ward - 46(3), , Kolkata vs Shri Gaurav Chopra , Howrah on 19 February, 2020
IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH KOLKATA [Before Sri S. S. Godara, Judicial Member] M.A No.307/Kol/2019 (A/o I.T.A No.1724/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-48(4), Kolkata Vs. Sri Sunil Yadav, Howrah 27, Sanatan Mistry Lane, Salkia, P.S. Golabari, Howrah-711106 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: ACAPY 3106 H (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.278/Kol/2019 (A/o I.T.A No.2589/Kol/2018) ( नधारण वष / Assessment Year: 2010-11) ITO, Ward-36(1), Kolkata Vs. Rajesh Kumar Sarda, HUF, Kolkata 412, Mukti Chambers, 4 Clive Row, Kolkata-700001 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AAHHR 1009 R (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.313/Kol/2019 (A/o I.T.A No.2428/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-45(1), Kolkata Vs. Ravi Kumar Daga 3A, Mullick Street, Kolkata-700 007 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
थायीले खासं . /जीआइआरसं . /PAN/GIR No.: ADJPD 9755 D (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.312/Kol/2019 (A/o I.T.A No.2209/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-45(1), Kolkata Vs. Kamlesh Agarwal Flat No.l 4K, Block-4, Windsor Castle, 74/1, Narkeldanga Main Road, Kolkata-54 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: ACUPA4957C (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Subash Agarwal, AR M.A No.306/Kol/2019 (A/o I.T.A No.1723/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-48(4), Kolkata Vs. Smt. Preeti Yadav 27, Sanaatan Mistry Lane, Salkia, P.S. Golabari, Howrah-711106 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AEMPY 8416 N (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.281/Kol/2019 (A/o I.T.A No.166/Kol/2019) ( नधारण वष / Assessment Year: 2014-15) Page | 2 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
ITO, Ward-37(1), Kolkata Vs. Jai Prakash Gupta Room No.18, 1st Floor, Krishna Sadan, 26, P.K. Tagore Street, Jorabgan, Kolkata - 06.
थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AGJPG5316J (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri K. M. Roy, FCA & S.N. Khemka M.A No.280/Kol/2019 (A/o I.T.A No.288/Kol/2019) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-37(3), Kolkata Vs. Vinita Agrawal Level-3, Central Plaza, C-
11, 41, B.B. Ganguly Street, Kolkata-700 012 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: ACGPA 1872 J (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Vinod Kr. Agarwal, CA M.A No.308/Kol/2019 (A/o I.T.A No.1738/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-48(4), Kolkata Vs. S.N. Lahoti & Sons (HUF) 171, Ramkrishna Lane, Shibpur, Howrah-711102 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AAQHS 0122R (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : None Page | 3 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
M.A No.311/Kol/2019(A/o I.T.A No.2429/Kol/2019) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-45(1), Kolkata Vs. Ravi Kumar Daga [HUF] 3A, Mullick Street, Kolkata-700 007 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AAGHR 2721 H (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.315/Kol/2019 (A/o I.T.A No.2074/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-46(3), Kolkata Vs. Shri Gaurav Chopra 88, Block-G, 4th Floor, Rabindra Nagar Complex, College Road, Howrah 711103 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AITPC 1161 H (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Miraj D. Shah, AR M.A No.314/Kol/2019 (A/o I.T.A No.1655/Kol/2018) ( नधारण वष / Assessment Year: 2014-15) ITO, Ward-48(4), Kolkata Vs. Satish Madhogaria (HUF) C/o S.L. Kochar, Advocate, 5, Ashutosh Chowdhury Avenue, Kolkata-19 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: AARHS 9965 F (Appellant) .. (Respondent) Page | 4 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
Appellant by : Shri Supriyo Paul, JCIT
Respondent by : None
M.A No.279/Kol/2019
(A/o I.T.A No.227/Kol/2019)
( नधारण वष / Assessment Year: 2014-15) ITO, Ward-37(4), Kolkata Vs. M/s Vinod Kr. Agarwal, Kolkata Level-3, Central Plaza, C-
11, 41, B.B Ganguly Street, Kolkata-700012 थायीले खासं . /जीआइआरसं . /PAN/GIR No.: ACQPA 9912 R (Appellant) .. (Respondent) Appellant by : Shri Supriyo Paul, JCIT Respondent by : Shri Vinod Kr. Agarwal, CA सुनवाई क तार ख/ Date of Hearing : 14/02/2020 घोषणा क तार ख/Date of Pronouncement : 19/02/2020 आदे श / O R D E R Per Shri S. S. Godara:
The Revenue's instant twelve miscellaneous applications filed u/s 254(2) of the Act seek to recall tribunal's order(s) reversing both the learned lower authorities' action adding long/short term capital gains/losses as bogus unexplained cash credits u/s 68 since involving alleged artificial rigging of the corresponding scrip prices in collusion with entry operators concerned.
2. I have heard Shri Paul, learned departmental representative and the assessee(s) through their authorized representative(s). Mr. Paul vehemently contended during the course of hearing that the tribunal has committed an apparent error on record whilst deleting the impugned addition(s) in these cases. It is Page | 5 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
emphasised that the Assessing Officer as well as the CIT(A) had found these assessees to have been engaged in artificial rigging of scrip(s) prices in collusion with entry operators resulting in the alleged bogus unexplained cash credits addition(s). It is lastly submitted that the tribunal's has also not distinguished the issues involved i.e long-term and short-term capital gains/losses.
3. I have given my thoughtful consideration to the Revenue's three folded pleadings. Suffice to say, I make it clear that section 254(2) is a remedy for modification/rectification in case there is an apparent error on record. I notice that the tribunal has taken into consideration all the relevant facts on record in light of various judicial precedents whilst coming to the conclusion that the learned lower authorities' action based on circumstantial than actual evidence for the purpose of treating the long/short-term capital gains/losses, is not liable to be sustained. The same cannot be termed as an apparent error on record which could form subject matter of section 254(2) proceedings.
5. Next comes the Revenue's latter plea(s) that the tribunal has not distinguished the factum of the issue(s) involved i.e. long-term & short-term capital gains/losses based on entry operators' collusion with assessees. I find no force in these arguments as well since the learned lower authorities have followed the very reasoning in these aspects capital gains without quoting any specific material against these assessees. And also the lower authorities had gone by identical reasoning of circumstantial evidence as per case law Sumati dayal v. CIT 214 ITR 801(SC) and CIT v. Durga Prasad More 82 ITR 540(SC) and not actual evidence. This tribunal has held, in nutshell, that such a course of action of treating all categories of gains or losses; as the case may be, must be based as actual evidence only. The same reasoning applies mutatis mutandis in all these cases therefore.
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6. The Revenue's twelve instant miscellaneous applications fail therefore. A copy of this instant common order be placed in the respective case file(s). I make it clear before concluding that since the Revenue's instant miscellaneous applications involve identical grievances, the same are disposed off by way of the foregoing common adjudication.
8. These Revenue's twelve miscellaneous applications are dismissed.
Order is pronounced in the open court on 19.02.2020.
Sd/-
(S. S. Godara) JUDICIAL MEMBER कोलकाता /Kolkata;
दनांक/ Date: 19/02/2020 RS आदे शक त ल पअ े षत/Copy of the Order forwarded to :
1. The Appellant - (i) ITO, Ward-48(4), Kolkata
(ii) ITO, Ward-36(1), Kolkata
(iii) ITO, Ward-45(1), Kolkata
(iv) ITO, Ward-37(1), Kolkata
(v) ITO, Ward-37(3), Kolkata
(vi) ITO, Ward-46(3), Kolkata
(vii) ITO, Ward-37(4), Kolkata
2. The Respondent- (i) Sri Sunil Yadav, Howrah
(ii) Rajesh Kumar Sarda, HUF, Kolkata
(iii) Ravi Kumar Daga
(iv) Kamlesh Agarwal
(v) Smt. Preeti Yadav
(vi) Jai Prakash Gupta
(vii) Vinita Agrawal
(viii) S.N. Lahoti & Sons (HUF) Page | 7 M.A No.307,278,313,312,306,281,280,308,311,315,314,279/Kol/2019 Sri Sunil Yadav, Howrah & Ors.
(ix) Ravi Kumar Daga [HUF]
(x) Shri Gaurav Chopra
(xi) Satish Madhogaria (HUF)
(xii) M/s Vinod Kr. Agarwal, Kolkata
3. आयकरआयु त(अपील) / The CIT(A), Kolkata [sent through email]
4. आयकरआयु त/ CIT
5. वभागीय त न ध, आयकरअपील यअ धकरण, कोलकाता/ DR, ITAT, Kolkata [sent through email]
6. गाडफाईल / Guard file.
स या पत त True Copy By Order Assistant Registrar, I.T.A.T, Kolkata Benches, Kolkata.
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