BHAGYA GOLD LIMITED,AHMEDABAD vs. INCOME TAX OFFICER, WARD 1(1)(1), AHMEDABAD, AHMEDABAD

ITA 351/AHD/2026Status: DisposedITAT Ahmedabad11 March 2026AY 2016-17Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal, to meet the ends of justice, directed the AO to grant one more opportunity of hearing to the assessee and pass a fresh assessment order, imposing a cost of Rs. 10,000/- on the assessee.

What were the facts?

The assessee, Bhagya Gold Limited, filed its return for AY 2016-17 declaring an income of Rs. 67,030/-. The AO made an addition of Rs. 1.94 Crores under Section 68 for unexplained unsecured loans. The CIT(A) dismissed the assessee's appeal ex-parte after multiple opportunities were not responded to.

What were the issues?

Whether the assessee should be granted another opportunity for hearing to explain the unsecured loans addition, despite previous non-compliance.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 68,Section 127

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “C” BENCH

Before: DR. BRR Kumar & Shri T. R. Senthil Kumar

PER: T.R. SENTHIL KUMAR, JUDICIAL MEMBER This appeal is filed by the Assessee as against the appellate order dated 12-12-2025 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as “CIT(A)”), arising out of the assessment order passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2016-17. 2. Brief facts of the case are that the assessee is a company engaged in the business of trading in gold. For the A.Y. 2016-17, the I.T.A No. 351/Ahd/2026 - A.Y. 2016-17 2 Bhagya Gold L

The order continues below.

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