M/S RAMESWAR AGRO INDUSTRIES PRIVATE LIMITED,BHUBANESWAR V. ACIT, CORPORATE CIRCLE 1 (2), BHUBANESWAR, BHUBANESWAR

ITA 773/CTK/2025

AI Insights

The case involves an appeal by M/s Rameswar Agro Industries Private Limited against the order of the ld. Addl./JCIT(A)-13, Mumbai, concerning the Assessment Year 2014-15. The primary issue in the appeal was the receipt of share premium by the assessee. The assessee's representatives argued for a restoration of the issue to the Assessing Officer, citing a similar precedent in the A.Y. 2015-16 where the issue was restored for readjudication. The Department's representative supported the original orders. The Tribunal decided to restore the issues to the Assessing Officer for fresh adjudication but imposed a cost on the assessee for non-cooperation during the appellate process.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 841148 (ITAT-CUTTACK)
• Duration Of Justice: 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2026
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 25-12-2025
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Opportunity of being heard

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER ITA No. 773/CTK/2025 (Assessment Year: 2014-15) M/s Rameswar Agro Industries Private Limited, Patrapada, Bhubaneswar-751019 (Odisha). PAN No. AADCR 0805 J Vs. A.C.I.T., Corporate Circle-1(2), Bhubaneswar. Appellant/ Assessee Respondent/ Revenue Assessee represented by Shri J.M. Pattanaik & Shri Bishwaraj Raut, A.Rs. Department represented by Shri Sanjib Banerjee, Sr. DR Date of hearing 25/02/2026 Date of pronouncement 25/02/2026 O R D E R PER: BENCH 1. This is the appeal filed by the assessee against the order of the ld. Addl./JCIT(A)-13, Mumbai in Appeal No. CIT(A), Bhubaneswar-1/10768/2017- 18 dated 03/11/2025 for the A.Y. 2014-15. 2. Shri J.M. Pattanaik & Shri Bishwaraj Raut, ld. A.Rs. appeared on behalf of the assessee and Shri Sanjib Banerjee, ld. Sr. DR represented on behalf of the revenue. 3. It was submitted by the ld. AR that the issue involved in the present appeal is in regard to the receipt of share premium by the assessee. It was the submission that for the A.Y. 2015-16, identical issue was in appeal and the ld. CIT(A), Kolkata-22 vide his order dated 06/08/2025 Printed from counselvise.com ITA No. 773/Ctk/2025 M/s Rameswar Agro Industries P Ltd. Vs ACIT 2 has restored the issue to the file of the Assessing Officer for readjudication. It was the submission that in identical lines, this year also, the issues may also be restored to the file of the Assessing Officer for readjudication. 4. In reply, ld. Sr. DR vehemently supported the orders of the Assessing Officer and ld. Addl./JCIT(A). 5. We have considered the rival submissions. Considering the fact that under the identical issues in the immediately succeeding assessment year, the issue has been restored by the ld. CIT(A) to the file of the Assessing Officer for readjudication. It was the submission of the ld. AR that for this year also the issues are required to be restored to the file of Assessing Officer for readjudication as the assessee has been non- represented before the ld. CIT(A) and the order is the ex parte order. This being so, in the interest of justice, we restore the issues in the appeal to the file of ld. Jurisdictional AO for adjudicating afresh after providing the assessee adequate opportunity of being heard. However, looking to the non-cooperation of the assessee during the course of appellate proceedings even after issuance of notices to the assessee by the ld. CIT(A), we impose a cost of Rs.10,000/-(Rupees Ten Thousands only) on the assessee, as admitted by the ld. A.R. of the assessee, to be payable to the Income Tax Appellate Tribunal Bar Association, Sector-1, CDA, Cuttack-753014, within sixty days from the date of this order and receipt of the same would be produced before the Printed from counselvise.com ITA No. 773/Ctk/2025 M/s Rameswar Agro Industries P Ltd. Vs ACIT 3 AO at the first hearing. Should the assessee not pay the above- mentioned cost within the prescribed period of sixty days from the date of this order, the order of the ld. CIT(A) shall stand confirmed. 6. In the result, this appeal of the assessee is partly allowed for statistical purposes. Order dictated and pronounced in the open court on 25/02/2026. Sd/- Sd/- (MADHUSUDAN SAWDIA) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER Ranchi, Dated: 25/02/2026 *Ranjan Copy to: 1. Assessee 2. Revenue 3. CIT(A) 4. CIT 5. DR 6. Guard File By Order Assistant Registrar, ITAT, Cuttack Printed from counselvise.com "