RAINA VYAPAAR PRIVATE LIMITED,KOLKATA vs. ACIT CC-3(2) KOLKATA, KOLKATA
Before: SHRI RAJESH KUMAR, AM & SHRI SONJOY SARMA, JM Raina Vyapaar Private Limited 161/1, Mahatma Gandhi Road, Kolkata-700007, West Bengal Vs. ACIT, Central Circle-3(2), Kolkata 110 Shantipally, Kolkata-700107, West Bengal (Appellant) (Respondent) PAN No. AABCR3482R
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 30.11.2023 for the AY 2014-15. 02. The only issue raised by the assessee is against the order of ld. CIT (A) upholding the addition of ₹2,86,69,750/- in respect of transactions made in M/s First Financial Services Limited by treating the loss as non- genuine on the sale of shares.
03. The assessee submitted at the outset that the co-ordinate Bench in assessee’s own case in ITA No. 303/KOL/2025 for A.Y. 2016-17 vide order dated 22.04.2025, restored the similar issue to the file of the ld.
AO for deciding the issue afresh. The ld. AR therefore prayed that the issue may be restored to the file of the ld. AO with similar direction.
Raina Vyapaar Private Limited; 2014-15
The ld. DR on the other hand, fairly agreed that the appeal of the assessee in ITA No. 303/KOL/2025 has been restored to the file of the ld. AO for fresh adjudication with similar facts. 05. After hearing the rival contentions and perusing the materials available on record, we find that that the similar issue has been restored to the file of the ld. AO in the A.Y. 2016-17(supra)on the ground that the assessee did not furnish the necessary details before the ld. AO as well as before the ld. CIT (A). Accordingly, we restore this appeal to the file of the AO as well with a direction to decide the same afresh after affording reasonable opportunity of hearing to the assessee. 06. In the result, the appeal of the assessee is allowed for statistical purposes Order pronounced in the open court on 19.05.2025. (SONJOY SARMA) (RAJESH KUMAR) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER)
Kolkata, Dated: 19.05.2025
Sudip Sarkar, Sr.PS
Copy of the Order forwarded to :
The Appellant 2. The Respondent 3. CIT 4. DR, ITAT, 5. Guard file. BY ORDER,//
Sr. Private Secretary/ Asst.