PANORAMA ELECTRONICS PRIVATE LIMITED (EARLIER KNOWN AS ASAHI ELECTRONICS PVT. LTD.,),KOLKATA vs. ITO, WARD 8(1),, KOLKATA

PER SANJAY AWASTHI, ACCOUNTANT MEMBER: 1. This appeal arises from order u/s 250 of the Income Tax Act, 1961 (hereafter “the Act”), dated 03.09.2025, passed by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereafter “the Ld. CIT(A)”]. 1.1 In this case, it was pointed out by the Ld. AR that the total income determined u/s 147 of the Act was identical to the income determined u/s 143(3) of the Act as under:

2
Panorama Electronics Pvt. Ltd.
(earlier known as Asahi Electronics Pvt. Ltd.)

SI No.
Description
Amount (In INR)
1. Income as per Original of Income filed
Rs. 29,67,910/-
2. Variation proposed in 147 proceedings:
NIL
3. Total income determined as per proceedings u/s 147 of the Rs.
29,67,910/-
Rs. 29,67,910/-

It was pointed out that the assessee could not make a presentation on facts before the Ld. CIT(A), hence an exparte order was passed confirming the action of Ld. AO. It was averred by the Ld. AR that the main grievance of the assessee was that a demand was raised u/s 147 of the Act which had already been raised earlier u/s 143(3) of the Act, even when no return was filed for M/s Asahi Electronics Pvt. Ltd., the income of which was purportedly used in the present case.
1.2
Aggrieved with this action of the Ld. CIT(A), the assessee has approached the ITAT with the following grounds:
“1. That on the facts and in the circumstances of the case, the action of the Ld
CIT(A) to uphold the action of the Assessing Officer to take the income as per
Return of Rs. 29,67,910/- thereby making addition of the same amount is contrary to the material evidences on record and the addition made is bad in law.
2. That on the facts and in the circumstances of the case, the action of the Ld
CIT(A) to uphold the action of the Assessing Officer to frame assessment and create demand in the PAN number of Asahi Electronics Pvt Ltd which is a non- existing company by virtue of its amalgamation with Panorama Electronics Pvt
Ltd, is illegal and bad in law.
3. That the assessment framed by the Assessing Officer and upheld by the Ld
CIT(A) is arbitrary, excessive and illegal.
4 That the above grounds of appeal shall be argued in detail at the time of hearing and the appellant craves leave to submit, add, alter, modify, amend any grounds of appeal or submit any additional grounds of appeal at or before the time of hearing.”
2. Before us, the Ld. AR pointed out that a demand had been created with respect to the PAN of M/s Asahi Electronics Pvt. Ltd. which is not 3
Panorama Electronics Pvt. Ltd.
(earlier known as Asahi Electronics Pvt. Ltd.)

An existing company by virtue of its amalgamation with the present assessee.
2.1
The Ld. DR relied on the orders of authorities below.
3. We have carefully considered the rival submissions and have gone through the documents before us. We find that indeed in the case of the assessee there is no addition whatsoever u/s 147 of the Act and an amount has been adopted from a purported earlier assessment u/s 143(3) of the Act. Since, this matter could not be thrashed out at all before the Ld. CIT(A) and even before the Ld. AO as there is an indication that full compliance could not be made to the notices issued by him, it is obvious that an error of fact has occurred in the impugned order. Accordingly, we set aside the impugned order and remand this matter back to the file of Ld. AO for fresh assessment whereby he will examine whether there can be any demand in the case of the present assessee since no addition whatsoever has been made on his account in the Ld. AO’s order dated 25.02.2025. In case, the demand has been wrongly worked out on the assessee due to adopting the figure of income of another assessee (which merged with the present assessee) case, the present demand or addition cannot be sustained. We direct accordingly.
4. In result, appeal of the assessee is allowed for statistical purposes.
Order pronounced on 01.12.2025. (Pradip Kumar Choubey) (Sanjay Awasthi)
Judicial Member Accountant Member
Dated: 01.12.2025
AK, Sr. P.S.

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Panorama Electronics Pvt. Ltd.
(earlier known as Asahi Electronics Pvt. Ltd.)

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

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By order