KKS SHARE BROKERS LIMITED,KOLKATA vs. ITO, WARD 4(4), KOLKATA

ITA 2838/KOL/2025Status: DisposedITAT Kolkata16 September 2026AY 2013-20148 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessment order was passed without jurisdiction as Section 151A of the Act, which governs faceless assessment, was not effectively applicable at the time of the assessment. Consequently, the penalty order also lacked basis.

What were the facts?

The assessee's appeal was filed beyond the limitation period. The assessment was reopened under Section 148 and completed by the NFAC treating transactions as sham, adding a significant amount to the income.

What were the issues?

Whether the assessment framed by the NFAC was without jurisdiction due to the applicability of Section 151A. Whether the penalty levied under Section 271(1)(c) is sustainable if the quantum assessment is quashed.

Which sections of the Income-tax Act were involved?

Section 148,Section 142(1),Section 144,Section 144B,Section 151A,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, KOLKATA

Before: SHRI RAJESH KUMAR, AM & SHRIPRADIP KUMAR CHOUBEY, JM

For Appellant: Shri Somnath Ghosh, AR
For Respondent: Shri Sanjit Kumar Das, DR
Hearing: 20.08.2026Pronounced: 16.09.2026

Per Rajesh Kumar, AM:

These are appeals preferred by the assessee against the orders of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 10.06.2025 for the AY 2013-14 arising out of assessment framed by the ld. Assessing Officer and order dated 29.3.2022 arising out of the penalty levied u/s 271(1)(c) of the Act vide order dated 29.12.2025 by the ld. Assessing Officer.

2.

At the outset, we note that the appeal of the assessee is barred by limitation by 87 days. At the time of hearing the ITA Nos. 2838/KOL/2025 & 2206/KOL/2026 K

The order continues below.

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