Income Tax Appellate Tribunal - Kolkata
Ito, Ward - 35(1) , Kolkata vs Pooja Pansari , Kolkata on 3 January, 2020
IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH "SMC" KOLKATA Before Shri S.S, Godara, Judicial Member व वध आवेदन (Misc. Application) M. ANo.235/Kol/2019 (arising out ITA No.202/Kol/2019) नधारण वष / Assessment Year:2014-15 Income Tax Officer बनाम Deo Chand Samsukha, Ward-34(3), 110, / HUF, Shop No. B-17, Shanti Pally, V/s . Ground Floor, 22, Uttarapan, Aayakar Bonfield Lane, Dalhouse, Bhawan, Kolkata-107 Kolkata-700 001 [PAN No. ABHD 3531 L] अपीलाथ /Applicant .. यथ /Respondent आवेदक क ओर से/By Assessee Shri Anil Kochar, Advocate राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR व वध आवेदन (Misc. Applications) M. ANo.236, 238 & 243/Kol/2019 (arising out ITA Nos.2317, 2464 & 2153/Kol/2018) नधारण वष / Assessment Years:2015-16 & 2014-15 M/s Prakash Patawari [HUF] New Howrah Bridge Approach Road, Burrabazar, Kolkata Income Tax Officer [PAN No. AAGHP 3487 E] बनाम Ward-35(1), 110, / Shanti Pally, V/s .
Uttarapan, Aayakar M/s Premchand Hanuman Bhawan, Kolkata-107 Mal Bucha [HUF], 10, Murlidhar Sen Lane, Burrabaar, Kolkata-700 073 [PAN No. AACHP 6274 M] MA No.235-243/Kol/2020 ITO Wd-35(1) Kol. vs. Nine separate assessee(s) Page 2 Pawan Kumar Goenka Todi Chambers, 2, LalBazar Street, 2 n d Floor, Room No. 217, Kolkta-700 001 [PAN No. ADMPG 2615 C] अपीलाथ /Applicant .. यथ /Respondent आवेदक क ओर से/By Assessee Shri Chirag Desai, ACA राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR व वध आवेदन (Misc. Application) M. ANo.237/Kol/2019 (arising out ITA No.2590/Kol/2018) नधारण वष / Assessment Year:2015-16 Income Tax Officer बनाम Praveen Kumar Agarwal Ward-35(1), 110, / CF-307, Salt Lake City, Shanti Pally, V/s . Sector-1,North 24 Uttarapan, Aayakar Parganas, Kolkata-64 Bhawan, Kolkata-107 [PAN No. ADAPA 3275 A] अपीलाथ /Appellant .. यथ /Respondent आवेदक क ओर से/By Assessee Shri Prakash Ch. Nayak, FCA राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR व वध आवेदन (Misc. Application) M. ANo.239/Kol/2019 (arising out ITA No.2473/Kol/2018) नधारण वष / Assessment Year:2015-16 Income Tax Officer बनाम Pramod Baid [HUF] Ward-35(1), 110, / 313, Todi Chambers, 2, Lal Shanti Pally, V/s . Bazar Street, Uttarapan, Aayakar Kolkata-700 001 Bhawan, Kolkata-107 [PAN No. AADHB 7500 D] अपीलाथ /Appellant .. यथ /Respondent MA No.235-243/Kol/2020 ITO Wd-35(1) Kol. vs. Nine separate assessee(s) Page 3 आवेदक क ओर से/By Assessee Shri Yash Vadhan Baid, Advocate राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR व वध आवेदन (Misc. Application) M. ANo.240/Kol/2019 (arising out ITA No.2666/Kol/2018) नधारण वष / Assessment Year:2015-16 Income Tax Officer बनाम P.K.Sharma Sons [HUF] Ward-35(1), 110, / 4, Fairlie Place, HMP Shanti Pally, V/s . House, 1 s t Floor, Room No. Uttarapan, Aayakar 104, Kolkata-700 001 Bhawan, Kolkata-107 [PAN No. AAHHP 7913 C] अपीलाथ /Appellant .. यथ /Respondent आवेदक क ओर से/By Assessee Shri Somnath Ghosh, Advocate राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR व वध आवेदन (Misc. Application) M. ANo.241& 242/Kol/2019 (arising out ITA Nos.2368 & 2367/Kol/2018) नधारण वष / Assessment Year:2015-16 Piyush Pansari [HUF] Poddar Court, Gate No.3, 2 n d Floor, 18, Rabindra Sarani, बनाम Kolkata-700 001 Income Tax Officer / [PAN No. AAIHP 4738 E] Ward-35(1), 110, V/s .
Shanti Pally, Pooja Pansari
Uttarapan, Aayakar Poddar Cort, Gate No. 3, 2 n d
Bhawan, Kolkata-107 Floor, 18,Rabindra
Sarani,Kolkata-700 001
[PAN No. AGRPP 1705 G]
अपीलाथ /Appellant .. यथ /Respondent
MA No.235-243/Kol/2020
ITO Wd-35(1) Kol. vs. Nine separate assessee(s) Page 4
आवेदक क ओर से/By Assessee Shri Upendra Nath Rai, AR
राज व क ओर से/By Revenue Smt. Ranu Biswas, addl. CIT-SR-DR
सुनवाई क तार$ख/Date of Hearing 03-01-2020
घोषणा क तार$ख/Date of Pronouncement 03-01-2020 आदे श /O R D E R These nine Revenue's miscellaneous petition(s) filed u/s 254(2) of the Income Tax Act, 1961; in short 'the Act' seek to re-call / rectify the tribunal's common order dated 27.06.2019 allowing the main appeal(s) thereby reversing the learned lower authorities' action treating the taxpayers' corresponding Long Term Capital Gains /Losses & Short Term Capital Gains / Losses as unexplained cash credits.
Heard Ms. Biswas appearing for the department and learned authorized representatives for the assessees.
2. Ms. Biswas vehemently contended during the course of hearing that the tribunal's impugned common order herein has erred on facts as per records regarding the unexplained cash credits addition since some of these cases involved the issue of LTCG/losses and STCG/losses which have been treated vice versa. I find no merit in the Revenue's instant sole grievance canvassed in all these miscellaneous applications. I make it clear that the tribunal's common order had set aside the learned lower authorities' action treating the respective gains / losses derived from sale of various scrips as bogus going by circumstantial than actual evidence tendered in support of the claims in question. Mrs. Biswas fails to dispute that the learned lower authorities had invoked in case law in Sumati Dayal vs. Commissioner of Income Tax (1995) 80 Taxmann.com 89 (SC) and Commissioner of Income Tax vs. Durga Prasad More (1971) 82 ITR 540 (SC) to hold that the impugned gains / losses; as the case may be, are bogus unexplained cash credits by adopting identical reasoning. The tribunal's order in turn accepted the assessees' contentions that such a course of action cannot be adopted when the impugned gains / losses are supported by all the corresponding evidence which have nowhere been doubted either in the course of assessment or in the lower appellate proceedings. I accordingly observe that proceedings u/s 254(2) jurisdiction are not in the nature of reversing nor does this MA No.235-243/Kol/2020 ITO Wd-35(1) Kol. vs. Nine separate assessee(s) Page 5 statutory provision involves a long drawn process as held hon'ble Gujarat high court in Commissioner of Income Tax vs. Gujarat Institution of Housing & Estate Developer in Tax Appeal No.327 of 2017 dated 18.07.2017. I accordingly conclude that the tribunal's common order dated 27.06.2019 be read as reversing both the learned lower authorities' action treating the long and short terms capital gains and losses as bogus in all cases in view of the detailed supportive evidence in the case files. The Revenue fails in its identical sole substantive grievance therefore.
3. These Revenue's nine miscellaneous application(s) are dismissed. A copy of the instant common order be placed in the respective case files.
Order pronounced in the open court at the close of the hearing on Friday, 3rd January, 2020.
Sd/-
(S.S. Godara)
Judicial Member
Kolkata,
*Dkp/Sr.PS
(दनांकः- 03/01/2020 कोलकाता
आदे श क त ल प अ े षत / Copy of Order Forwarded to:-
1. आवेदक/Assessee-Deo Chand Samsukha, HUF, Shop No. B-17, Gr. Fl,22, Bonfield Lane, Dalhouse, Kolkaa-001/M/s Prakash Patawari [HUF] New Howrah Bridge, Approach Road Burrabaar,Kolkata/M/s Premchand Hanuman Mal Bucha [HUF], 10, Murlidhar Sen Lane, Burrabazar, Kolkata-73/Pawan Kumar Goenka Todi Chambers, 2, Lal Bazar Street, 2nd Fl, R.No. 217, Kolkata-7001/Praveen Kumar Agarwal CF-
307, Salt Lake City, Sector-1, North 24 Parganas, Kolkata-64/ Pramod Baid [HUF] 313, Todi Chambers, 2, Lal Bazar Street Kolkata-700001/P.K. Sharma Sons [HUF] 4, Fairlie Place, HMP House, 1st Floor, R.No.104, Kokata-001/Piyush Pansari [HUF] / Pooja Pansari Poddar Court, Gate No.3, 2nd Fl. 18, Rabindra Sarani, Kolkata-001
2. राज व/Revenue-ITO Ward-35(1), Aaykar Bhawan Poorva,110, Shanti Pally, Kolkata-107
3. संबं+धत आयकर आय, ु त / Concerned CIT
4. आयकर आय, ु त- अपील / CIT (A)
5. वभागीय त न+ध, आयकर अपील$य अ+धकरण कोलकाता / DR, ITAT, Kolkata
6. गाड फाइल / Guard file.
By order/आदे श से, /True Copy/ उप/सहायक पंजीकार आयकर अपील$य अ+धकरण, कोलकाता ।