RAMESHWAR FINVEST PRIVATE LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3),, KOLKATA

ITA 2107/KOL/2025Status: DisposedITAT Kolkata23 December 2025AY 2008-2009Bench: SHRI RAJESH KUMAR (Accountant Member), SHRI PRADIP KUMAR CHOUBEY (Judicial Member)18 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the Assessing Officer violated the principles of natural justice by not confronting the assessee with the material gathered during inquiries under Section 142(2) and not providing an opportunity for cross-examination. Therefore, the assessment proceedings were vitiated.

What were the facts?

The assessee challenged an assessment framed under Section 263/143(3)/147 of the Income-tax Act, 1961. The primary issue was the addition of ₹32,04,00,000/- on account of unexplained cash credit (share capital and premium) under Section 68.

What were the issues?

Whether the addition made under Section 68 for unexplained cash credit is valid when the assessee was not provided with an opportunity to cross-examine witnesses and confront material gathered during inquiry. Whether the assessment proceedings are vitiated due to violation of natural justice principles.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3),Section 147,Section 263,Section 142(2),Section 142(3)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(6)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, “D” BENCH, KOLKATA

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

For Appellant: Shri S.K. Tulsiyan &, Ms. Puja Somani, ARs
For Respondent: Shri Sanat Kumar Raha, DR
Hearing: 17.11.2025Pronounced: 23.12.2025

Per Rajesh Kumar, AM:

This is an appeal preferred by the assessee against the order of the Commissioner of Income-tax (Appeals), Kolkata-21(hereinafter referred to as the “Ld. CIT(A)”] dated 06.08.2025 for the AY 2008-09. 2. In ground nos.1 and 2, the assessee has challenged the assessment framed u/s 263/143(3)/147 of the Income-tax Act, 1961 (hereinafter referred to as the Act) dated 28.03.2014, to be invalid on the ground that the in consequent to invalid exercise of revisionary juri iction u/s 263 of the Act, although, the appeal of the assessee preferred before the Tribunal against the revisionary order was dismissed by Ram

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 68

All 29,931 judgments and leading authorities on Section 68 →

Recent GST High Court judgments

Search GST case law →