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TMI Blog2018 (11) TMI 1823X X X X Extracts X X X X X X X X Extracts X X X X ..... d rules of suspicious transaction - HELD THAT:- 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 Investigation, Kolkata, which was general in nature and not specific to any assessee. The assessee was not confronted with any statement or material alleged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal 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. 27th June, 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o relied 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Assessee Date of order /Judgment 1. 1236-1237/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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid down in these case law by the Jurisdictional High Court as well as by the ITAT Kolkata. They are squarely applicable to the facts of the case. The ld. Departmental Representative, though not leaving his ground, could not controvert the claim of the ld. Counsel for the assessee that the issue in question is covered by the above cited decisions of the Hon ble High Courts and the ITAT. 6. In v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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