VISHAL CHAIN & JEWELLERY PRIVATE LIMITED,. vs. DCIT CIRCLE 25(1), DELHI, .

आदेश / ORDER PERMADHUMITA ROY, JUDICIAL MEMBER:

The instant appeal filed by the assessee is directed against the order dated 11.12.2025 passed by the Ld. Pr. Commissioner of Income-tax (Appeals), NFAC, Delhi [hereinafter referred to as the Ld.

ITA 1904/DEL/2026 ITA 1904/DEL/2026 VISHAL CHAIN &JEWELLERY VISHAL CHAIN &JEWELLERY PRIVATE LIMITED PRIVATE LIMITED

CIT(A)] under Section 250 of the Income Tax Act, 1961 (hereinafter CIT(A)] under Section 250 of the Income Tax Act, 1961 (hereinafter CIT(A)] under Section 250 of the Income Tax Act, 1961 (hereinafter

referred to as ‘the Act’) arising out of the Assessment Order dated referred to as ‘the Act’) arising out of the Assessment Order dated referred to as ‘the Act’) arising out of the Assessment Order dated

30.12.2017 passed by the ACIT, Circle 26(2), Delhi (hereinafter 30.12.2017 passed by the ACIT, Circle 26(2), Delhi (hereinafter 30.12.2017 passed by the ACIT, Circle 26(2), Delhi (hereinafter

referred to as ‘the ld. AO’) under Section 143(3) r.ws 147 of the Act for referred to as ‘the ld. AO’) under Section 143(3) r.ws 147 of the Act for referred to as ‘the ld. AO’) under Section 143(3) r.ws 147 of the Act for

Assessment Year 2010 Assessment Year 2010-11.

stud, bullion etc. filed its return of income on 22 d its return of income on 22-09-2010 declaring 2010 declaring

total income of Rs. 32,60,530/ total income of Rs. 32,60,530/- for A.Y. 2010-11.Notice under Section Notice under Section

148 of the Act was issued on 27.03.2017 after recording the reasons 148 of the Act was issued on 27.03.2017 after recording the reasons 148 of the Act was issued on 27.03.2017 after recording the reasons

for reopening and after getting approval of PCIT for reopening and after getting approval of PCIT-9, New Delhi in 9, New Delhi in

response thereto the assessee filed letter dated 03.04.2017 stating that the assessee filed letter dated 03.04.2017 stating that the assessee filed letter dated 03.04.2017 stating that

the ITR already filed be treated as return the ITR already filed be treated as return filed in response to notice response to notice

under Section 148 of the Act of the Act. The AO completed the reassessment at . The AO completed the reassessment at

Rs. 1,35,62,530/- by adding Rs. 1,01,00,000/ by adding Rs. 1,01,00,000/- on account of share count of share

application/ premium and Rs. 2,02,000/ application/ premium and Rs. 2,02,000/- on account of commission to on account of commission to

the income returned at Rs. 32,60,530/ the income returned at Rs. 32,60,530/-. In appeal the Learned . In appeal the Learned

CIT(Appeals) affirmed the action of the AO. Aggrieved, the assessee is CIT(Appeals) affirmed the action of the AO. Aggrieved, the assessee is CIT(Appeals) affirmed the action of the AO. Aggrieved, the assessee is

in appeal before this Tribunal. in appeal before this Tribunal.

parties and perused the material available on record. Learned counsel parties and perused the material available on record. Learned counsel parties and perused the material available on record. Learned counsel

for the assessee brought to our notice that the Learned First Appellate for the assessee brought to our notice that the Learned First Appellate for the assessee brought to our notice that the Learned First Appellate

ITA 1904/DEL/2026 ITA 1904/DEL/2026 VISHAL CHAIN &JEWELLERY VISHAL CHAIN &JEWELLERY PRIVATE LIMITED PRIVATE LIMITED

Authority has dismissed the assessee’s appeal ex parte, Authority has dismissed the assessee’s appeal ex parte, in limine, for in limine, for

want of prosecution and without going into the merits of the case. The want of prosecution and without going into the merits of the case. The want of prosecution and without going into the merits of the case. The

order passed by the First Appellate Authority is not in consonance with order passed by the First Appellate Authority is not in consonance with order passed by the First Appellate Authority is not in consonance with

the provisions of Section 250. The Learned CIT(A) ought to have the provisions of Section 250. The Learned CIT(A) ought to have the provisions of Section 250. The Learned CIT(A) ought to have

adjudicated the appeal on merit a adjudicated the appeal on merit after going into the material available fter going into the material available

on record. Thus, we have no option but to set aside the order of the on record. Thus, we have no option but to set aside the order of the on record. Thus, we have no option but to set aside the order of the

First Appellate Authority and remit the matter back to the file of the First Appellate Authority and remit the matter back to the file of First Appellate Authority and remit the matter back to the file of

First Appellate Authority for decision afresh by passing a speaking First Appellate Authority for decision afresh by passing a speaking First Appellate Authority for decision afresh by passing a speaking

order by affording reasonable opportunity of being heard to the affording reasonable opportunity of being heard to the affording reasonable opportunity of being heard to the

assessee and upon considering his evidence on record or any other upon considering his evidence on record or any other upon considering his evidence on record or any other

evidence which the Assessee may choose to file at the time of hearing the Assessee may choose to file at the time of hearing the Assessee may choose to file at the time of hearing

of the Appeal. Ordered accordingly. Ordered accordingly.

Order pronounced in the open court on Order pronounced in the open court on 10.08.2026

Sd/- Sd/- MANISH AGARWAL) MADHUMITA ROY) (MANISH AGARWAL (MADHUMITA ROY ACCOUNTANT MEMBER ACCOUNTANT MEMBER JUDICIAL MEMBER JUDICIAL MEMBER

Dated: 10th August, , 2026. R.Naheed, Sr. PS

ITA 1904/DEL/2026 ITA 1904/DEL/2026 VISHAL CHAIN &JEWELLERY VISHAL CHAIN &JEWELLERY PRIVATE LIMITED PRIVATE LIMITED

Copy to: VISHAL CHAIN &JEWELLERY VISHAL CHAIN &JEWELLERY PRIVATE LIMITED, PRIVATE LIMITED, C/O IPSO LEGAL, H C/O IPSO LEGAL, H-35, 1ST FLOOR, 1 JANGPURA EXTENSION JANGPURA EXTENSION, NEW DELHI-110014, 110014, DELHI

DCIT CIRCLE 25(1), DELHI, DCIT CIRCLE 25(1), DELHI, 2 ITO C. R. BUILDING ITO C. R. BUILDING, NEW DELHI-110002, DELHI 110002, DELHI

3 THE PCIT / CIT, 4 THE D.R., ITAT, DELHI DELHIBENCH 5 GUARD FILE