M/S. AHNIK GOODS PVT. LTD.,KOLKATA V. D.C.I.T., CC-4(3), KOLKATA

ITA 2986/KOL/2025

AI Insights

The case involves M/s. Ahnik Goods Private Limited, which appealed against the order of the Commissioner of Income Tax (Appeals), Kolkata-27, concerning the Assessment Year 2014-2015. The appeal was directed against the addition of Rs. 45,00,000 as unexplained money to the assessee's income, which was initially treated as such by the Assessing Officer after a search and seizure operation under section 132 of the Income Tax Act, 1961. The assessee had claimed to have received loans/advances from two companies, which the Assessing Officer found to be dubious due to the creditors' lack of substantial business activities and income. The CIT(Appeals) upheld the Assessing Officer's decision, leading to the current appeal before the Tribunal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 846083 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2026
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: Kolkata
• Assessment Year: 2014-2015
• Appeal Filed On: 08-12-2025
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Opportunity of being heard; Corroborative evidences; Principle of natural justice; Search and seizure
• Section: 142(1); 132

Judgement Text

" ITA No. 2986/KOL/2025 (A.Y. 2014-2015) M/s. Ahnik Goods Private Limited 1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC’ BENCH, KOLKATA Before Shri Duvvuru RL Reddy, Vice-President (KZ) I.T.A. No. 2986/KOL/2025 Assessment Year: 2014-2015 M/s. Ahnik Goods Private Limited,……..…Appellant 1st Floor, Bio-Wonder, 789, Anandapur EM Byepass, Kolkata-700107 [PAN:AAFCA4779E] -Vs.- Deputy Commissioner of Income Tax,...Respondent Central Circle-4(3), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 Appearances by: Shri Robin Maheshwari, A.C.A., appeared on behalf of the assessee Smt. Sima Das Biswas, Sr. D.R., appeared on behalf of the Revenue Date of concluding the hearing: February 23, 2026 Date of pronouncing the order: March 27, 2026 O R D E R The present appeal is directed at the instance of assessee against the order of Id. Commissioner of Income Tax (Appeals), Kolkata-27 dated 27.10.2025 passed for Assessment Year 2014- 2015. Printed from counselvise.com ITA No. 2986/KOL/2025 (A.Y. 2014-2015) M/s. Ahnik Goods Private Limited 2 2. Brief facts of the case are that a search and seizure operation under section 132 of the Income Tax Act, 1961 was conducted on 19.03.2014 and completed on 15.05.2014 in the ‘Pasari Group’ of case at 35, Ballygunge Park Road, Kolkata where certain documents belonging to the assessee company were found. The assessee filed its return of income on 26.09.2014 declaring total income at NIL for AY 2014-15. Notice under section 143(2) was issued and served upon the assessee. The return of the assessee was processed under section 143(1) on 01.01.2015. Again, notice under section 142(1) dated 07.03.2016 along with the set of questionnaires based on the analysis of return of income was issued to the assessee. In reply, the assessee claimed to have taken loan /advance amounting to Rs.25,00,000/- from M/s. P.P.J. Engineering Industries Pvt. Ltd., Rs.20,00,000/- from M/s. PPJ Heavy Gear Pvt. Ltd. The assessee tried to prove the genuineness and correctness of receipt of advance from the advance creditor in question and for that purpose, it was submitted the details such as transactions made by that advance creditor in regard to transfer of money to the assessee-company. The ld. Assessing Officer observed that the said creditor companies have very meagre amount of income and having no financial /business activities as such and mainly those investor companies are merely Jamakharchi company. The assessee did not produce any supporting evidence in support of its claim, the ld. Assessing Officer treated the total amount of Rs.45,00,000/- as unexplained money and added to the total income of the assessee. On being aggrieved, the assessee preferred an appeal before the ld. CIT(Appeals). Printed from counselvise.com ITA No. 2986/KOL/2025 (A.Y. 2014-2015) M/s. Ahnik Goods Private Limited 3 3. The ld. CIT(Appeals) in his order confirmed the order passed by the ld. Assessing Officer. Being aggrieved, the assessee preferred an appeal before the Tribunal. 4. I have heard both the sides and perused the material available on record. From the record, I find that the assessee had taken loan/advance from different companies aggregating to Rs.45,00,000/-. As the assessee did not produce any supporting evidence in support of its claim, the ld. Assessing Officer added to the total income of the assessee as unexplained money and ld. CIT(Appeals) also upheld the action taken by the ld. Assessing Officer. But the assessee company furnished complete details including the names and addresses and PAN of all the persons who provided unsecured loans of Rs.45,00,000/-. All transactions were admittedly by account payee cheques or through banking channels. At the time of hearing, the ld. Counsel for the assessee submitted before the Bench that the assessee’s request for cross examination of the informant but no notice was issued, therefore, he pleaded to cross examination of the witness and to provide one more opportunity to substantiate its claim. He also pleaded that the notice was not served on the assessee. On the other hand, ld. Departmental Representative pleaded to uphold the order of ld. CIT(Appeals). By considering the totality of the facts and circumstances and in order to meet the principle of natural justice, remit the matter back to the file of the ld. CIT(Appeals) with a direction to provide one more opportunity of being heard to the assessee. At the same breath, I also hereby caution the assessee to promptly co-operate with the proceedings before the ld. Printed from counselvise.com ITA No. 2986/KOL/2025 (A.Y. 2014-2015) M/s. Ahnik Goods Private Limited 4 CIT(Appeals) failing which the ld. CIT(Appeals) shall be at liberty to pass appropriate order in accordance with law and merits based on the materials available on the record. Thus, the grounds raised by the assessee in the appeal are partly allowed for statistical purposes. 5. In the result, the appeal of the assessee is partly allowed for statistical purposes. Order pronounced in the open Court on 27/03/2026. Sd/- (Duvvuru RL Reddy) Vice-President (KZ) Kolkata, the 27th day of March, 2026 Copies to :(1) M/s. Ahnik Goods Private Limited, 1st Floor, Bio-Wonder, 789, Anandapur EM Byepass, Kolkata-700107 (2) Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, Kolkata-700107 (3) CIT(Appeals), Kolkata-27; (4) CIT - , Kolkata; (5) The Departmental Representative; (6) Guard File TRUE COPY By order Assistant Registrar, Income Tax Appellate Tribunal, Kolkata Benches, Kolkata Laha/Sr. P.S. Printed from counselvise.com "