SITARA FINCOM PRIVATE LIMITED,KOLKATA vs. ITO, WARD 1(4), (NOW DCIT, CIRCLE 1, HAZARIBAGH), KOLKATA/HAZARIBAGH

IN THE INCOMETAXAPPELLATE TRIBUNAL “D” BENCH, KOLKATA Before ShriRajesh Kumar, Accountant Member and ShriPradip Kumar Choubey, Judicial Member ITA No. 2881/KOL/2025 Assessment Year: 2012-13 Sitara Fincom Private Limited.................................................................................Appellant P-5, VIP Road, Scheme – VII-M, Ground Kolkata - 700054 [PAN No. AAJCS0635H] Vs. ITO, Ward 1 (4)..…………..…………………....……….Respondent (Now DCIT, Circle1, Hazaribagh) Income Tax Office, Ravindra Path, Hazaribagh, Jharkhand- 825301 Appearances by: Shri Sunil Surana, FCA., appeared on behalf of the Appellant. Shri Sanat Kumar Raha, CIT(DR) ,appeared on behalf of the Respondent. Date of concluding the hearing : April 15, 2026 Date of pronouncing theorder : April 21 ,2026 ORDER Per Pradip Kumar Choubey, Judicial Member: This appeal filed by the assessee is directed against the order dated 29.09.2025 of the National Faceless Assessment Centre (NFAC) passed under Section 143 (3) r.w.s 263 of the Assessment Year 2012- 13 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”).

ITA No.2881/Kol/2025 Assessment Year- 2012-13 assessment order u/s 143(3) read with Section 264 was passed on 21/06/2017 by removing the addition of Rs.37,88,00,000/- as unexplained credit. After that an order u/s 263 of the I.Tax Act, 1961 was passed on 19.03.2020 setting aside the assessment u/s 143(3) r.w.s 264 dated 21.06.2017. Against this order u/s 263, the assessee filed an appeal before ITAT, Ranchi which was dismissed by the tribunal vide order in ITA No.56/RAN/2020 dated 05.07.2024. Further, the assessment was finalised u/s 143(3) r.w.s 263 by treating the sum of Rs.37,88,00,000/- as unexplained credit and Rs.3.22.538/- was also disallowed u/s 14A. Aggrieved by the said order assessee preferred appeal before the CIT(A) wherein appeal of the assessee has been dismissed. Being aggrieved by and dissatisfied the assessee preferred appeal before us, 3. The Ld. AR challenges the very impugned order thereby submitting that order passed by the CIT(A) is a cryptic order as he has not discussed the documentary evidences nor he discussed the law laid down in this context. The Ld. AR submits that before the CIT(A) assessee has submitted that assessee intent to file miscellaneous application before the Hon’ble ITAT for restoring the appeal to decide the appeal afresh and asked for an adjournment but the CIT(A) did did not grant time and he decided the appeal in a very cryptic manner, so his prayer to remand the appeal of the assessee to the file of the CIT(A)for fresh adjudication after hearing the assessee. 3. Contrary to that Ld. DR though supports the impugned order but did not rise any objection in remitting the appeal of the assessee to the file of CIT(A) for fresh consideration.

ITA No.2881/Kol/2025 Assessment Year- 2012-13 4. Upon hearing the submission of the counsel of the respective parties and on perusal of the impugned order, we find that assessment u/s 143(3) was originally completed, Pr. CIT vide order U/s 264 set aside the assessement, assessement order u/s 143(3) read with section 264 was passed, assessee preferred appeal against theorder u/s 263 which was dismissed. Before CIT(A) assessee he submitted that they intent to file a miscellaneous application before the Hon’ble ITAT for restoring his appeal, but CIT(A) has passed an order on the ground that assessee has not given the numberof fresh MA and there is nothing on record to establish that assessee has filed MA before the ITAT and CIT(A) adjudicated the appeal. 5. Having gone through the order passed by the CIT(A) we find that CIT(A) has dismissed the appeal of the assessee on all the grounds without discussing the merit of the case and further without discussing the documentary evidences of the assessee. Assessee prayed before us that assessee has to be given an opportunity to place his case before the CIT(A).Considering the submission and for the interest of justice we restore the appeal of the assessee to the file of CIT(A) with a direction to pass order after hearing the assessee. Assessee is also directed to cooperate in remand proceeding. The order of the CIT(A) is hereby set aside and appeal of the assessee is restored in the file of CIT(A) for fresh order . As a result, the appeal of the assessee is allowed as the statistical purpose.

Kolkata, the 21st April , 2026.

ITA No.2881/Kol/2025 Assessment Year- 2012-13

Sd/- Sd/- [Rajesh Kumar] [Pradip Kumar Choubey] Accountant Member Judicial Member

DC Dated:. 21. 04.2026.

Copy of the order forwarded to: 1. Appellant - 2. Respondent - 3. CIT(A)- 4. CIT- 5. CIT(DR)

//True copy// By order Assistant Registrar, Kolkata Benches

ITA No.2881/Kol/2025 Assessment Year- 2012-13