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Facts
The appellant company, engaged in lending money, filed a return of Nil income for AY 2017-18. The AO completed the assessment at a total income of Rs. 5,56,75,597/-, taxing share capital of Rs. 7,79,52,550/- for failure to prove identity, creditworthiness, and genuineness of transactions.
Held
The Tribunal held that the Cochin Bench of the Tribunal lacks jurisdiction as the Assessing Officer is situated in Vadodara, and the Cochin Bench's jurisdiction is limited to assessing authorities in Kerala and Lakshadweep.
Key Issues
Jurisdiction of the Tribunal to entertain an appeal when the Assessing Officer is located outside the territorial jurisdiction of the Tribunal bench.
Sections Cited
143(3)
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM & SHRI MANU KUMAR GIRI, JM
O R D E R Per: Inturi Rama Rao, AM
This appeal filed by the assessee is directed against the order of the National Faceless Appeal Centre, Delhi (NFAC) dated 17.06.2025 for Assessment Year (AY) 2017-18.
Brief facts of the case are that the appellant is a company engaged in the business of lending money against gold, property, etc. The return of income for AY 2017-18 was filed on 29.11.2017 disclosiong Nil income. Against the said return of income, the assessment was completed by the Income Tax Officer, Ward 2(1)(3), Vadodara (hereinafter called "the AO") vide order dated 23.12.2019 passed u/s. 143(3) of the Income Tax Act, 1961 (the Act) at a total income of Rs. 5,56,75,597/-. While doing so, the AO brought to tax the share capital of Rs. 7,79,52,550/- for alleged failure of the appellant company to discharge the onus of proving the identity, creditworthiness of the parties as well as the genuineness of the transaction.
Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO.
Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal.
At the outset, we find that the assessment order is passed by the Income Tax Officer, Vadodara. The jurisdiction of the Tribunal is dependent upon the situs of the Assessing Officer, who passed the assessment order. In the present case, the AO is situated at Vadodara. Cochin Bench of the Tribunal has jurisdiction only over the assessing authorities situated in Kerala and Lakshadweep. Therefore, the present appeal cannot be entertained at Cochin Bench of the Tribunal as it lacks jurisdiction.
Order pronounced in the open court on 6th November, 2025.