TaxTMI 
TaxTMI 
2026 (2) TMI 1174
X X X X Extracts X X X X
X X X X Extracts X X X X
....lkata, under Section 26(3) of the Prohibition of Benami Property Transaction Act, 1988 (PBPTA). The Provisional Attachment Order (PAO) dated 17.02.2018 passed by the Initiating Officer, BPU, Kolkata was confirmed vide the Impugned Order and Reference No. R-508/2018 was thus allowed. The attached property comprised of Jewellery of 2465.60 grams. 2. Ld. Authorized Representative (AR) for the Appellant contended that there is no case of any Benami Property or Benami Transactions and the confirmation of the provisional attachment of Jewellery is not sustainable. The Initiating Officer having failed to establish the existence of Benami Property with cogent material, the Order holding the Appellant to be Benamidar is based on conjectures and s....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he visited the showroom with Mr. Animesh Banerjee, but did admit having made any advance amounting to Rs. 2 Crores. She clarified that for the Jewellery deliver to her in December, 2016 Mr. Animesh Banerjee paid for it. Out of 3567.97 grams, only Jewellery weighing 2465.60 grams was seized and the rest of the Jewellery was not seized. Ld. Counsel stated that the Appellant could not give any explanation as to the source of founding the seized Jewellery. Thus, there was the reasons to believe that the seized Jewellery was taken from SENCO Gold by Shri Animesh Banerjee and the Appellant. The Appellant was allegedly the Benamidar and Shri Animesh Banerjee was Beneficial Owner. Ld. Counsel pleaded that the Ld. A.A. after having considered the ex....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Mukherjee and CA Vivek Gupta. The jewellery box was opened by the Ld. Deputy Director of Income Tax, Unit2(2), Kolkata (in charge of strong room). Concerned personnel from M/s Senco Gold Limited, namely Mr Tamal Pal, Inventory Manager, attended the inspection and examined all 66 packets of jewellery. He identified 4 (four) items of jewellery sold by Senco Gold Limited which were corroborated by hallmark. Reference can be drawn to the photograph of RR 2. RR 3 & RR 42. The photographs of the seized jewellery were captured one by one bearing ID Marks in presence of the assessee. A copy of the coloured Photograph is also enclosed herewith for your kind reference. Further. Report on this behalf by the Senco Gold Limited has also been enclosed he....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tion and photographs duly acknowledged by the assessee. Conclusion: Operation completed in the presence of the assessee, witnesses, and the representative of Senco Gold Limited. Findings recorded and report submitted for kind perusal and necessary action." 7. The Deputy Commissioner of Income Tax, Central Circle, 4 (1), Kolkata further enclosed letter received on 05.01.2026 from the Authorised Signatory of M/s SENCO Gold. The said letter from the aforementioned findings that four items Jewellery were identified as having been sold by SENCO Gold Ltd., which were confirmed by SENCO's Hallmark and internal sale records. For the remaining Jewelleries subjected to inspection, the same were not identifiable as having been sol....