TaxTMI 
TaxTMI 
2025 (6) TMI 950
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....Registered office of the company was transferred from Kolkata to Mumbai and thereafter the income tax jurisdiction was also transferred from Kolkta to Mumbai and the taxation matters were assigned to Chartered Account Shri Pawan Mallawat, when the CIT passed the order. The said counsel of the assessee suggested that appeal has to be filed in Mumbai Beeches. However, another counsel suggested that the appeal has to be filed in Kolkata as the ld. AO who passed the assessment order is located in Kolkata jurisdiction and this is how the delay in filing the appeal has happened and finally, the appeal was filed on 27.09.2024 with a delay of 194 days. 03. After considering the reasons stated before us and rival contentions of the parties, I am of....
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.... of sale of shares during the year. Pertinent to state that these shares were brought in the preceding assessment year. The ld. AR submitted before us that the case of the assessee has been invalidly reopened by the ld. AO by referring to the copy of the reasons recorded which are available at page no. 48 to 51. The ld. AR stated that the information received by the ld. AO from DDIT (Investigation) Wing, Unit-3(4), Kolkata, was acted upon by AO by issue notice u/s 148 of the Act without any application of mind and recorded conclusion that income of Rs. 25 lacs has escaped assessment. I note that the ld. AO has noted the information received from the DDIT (Investigation) in the reasons recorded and nowhere recorded his satisfaction therefore....
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....lear cut finding as to escapement of income. The case of the assessee finds support from the decision of Co-ordinate Bench of Gauhati in the case of MLB Commerical Pvt. Ltd. (supra). The operative part is reproduced as under: "8. I have heard the rival contentions and gone through the records. In this case as noted above, the Assessing Officer received some information from the Investigation Wing that the assessee had brought back some unaccounted income to the tune of Rs. 4,00,000/- through shell companies. However, which were those shell companies has not been mentioned in the reasons recorded. The ld. AR has pointed out that the assessee during the year did not get any profit on the alleged shares held/sold by him. The shares were sold....