2018 (12) TMI 1412

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..... al filed by the assessee is directed against the order of the Learned Commissioner of Income Tax (Appeals)-10, Kolkata, (hereinafter the 'Ld. CIT(A)'), dt. 23/05/2018, passed u/s 250 of the Income Tax Act, 1961 (hereinafter the 'Act'), relating to Assessment Year 2014-15. 2. The sole issue that arises for my adjudication is whether the Assessing Officer was right in rejecting the claim of the ass .....

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..... elied on the so called "rules of suspicious transaction". No direct material was found to controvert the evidence filed by the assessee, in support of the genuineness of the transactions. In other words, the overwhelming evidence filed by the assessee remains unchallenged and uncontroverted. The entire conclusions drawn by the revenue authorities, are based on a common report of the Director of In .....

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..... 1237/K/17 ITAT - Kolkata Manish Kumar Baid & Others vs ACIT 18.08.2017 2 443/Kol/2017  Kiran Kothari (HUF) vs ITO 15.11.2017 3. 22 of 2009 Calcutta High Court CIT, Kolkata-III vs Bhagwati Prasad Agarwal 29.04.2009 4. 456 if 2007 Bombay High Court CIT vs Shri Mukhesh Ratilal Marolia  07.09.2011 5. 18 of 2017 Punjab and Haryana High Court Pr. C.I.T. (Central)Ludhiana vs Sh .....

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