SUKUN VINCOM PRIVATE LIMITED,KOLKATA V. ITO, WARD 1(2), RANCHI

ITA 37/RAN/2024

AI Insights

This case involves an appeal by Sukun Vincom Private Limited against the order passed by the CIT(A), National Faceless Appeal Centre, Delhi, for the assessment year 2015-2016. The primary issue in the appeal was the absence of representation and details from the assessee regarding their claims, which led to an ex-parte order by the AO. The revenue was represented by Shri Rajib Jain, CIT-DR, while no one appeared on behalf of the assessee. The tribunal decided to restore the matter to the AO to provide the assessee an opportunity to substantiate their case.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 778439 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-10-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 16-02-2024
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAJIB JAIN
• Keywords: Opportunity of being heard; Source of fund

Judgement Text

" आयकर अपीलीय अधिकरण, र ाँची न्य यपीठ, र ाँची IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI GEORGE MATHAN, JM & SHRI RATNESH NANDAN SAHAY, AM आयकर अपील सं./ITA No.37/RAN/2024 (निि ारण वर्ा / Assessment Year :2015-2016) Sukun Vincom Private Limited 9, Lal Bazar Street, 3rd Floor, Kolkata, West Bengal-700001 Vs. ITO, Ward-1(2), Ranchi स्थायी लेखा सं./PAN No. : AAPCS 2490 E (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्ाारिती की ओर से /Assessee by : None राजस्व की ओर से /Revenue by : Shri Rajib Jain, CIT-DR सुनवाई की तारीख / Date of Hearing : 09/10/2025 घोषणा की तारीख/Date of Pronouncement : 09/10/2025 आदेश / O R D E R Per Bench : This is an appeal filed by the assessee against the order passed by the ld.CIT(A), National Faceless Appeal Centre (NFAC), Delhi, dated 15.12.2023 for the assessment year 2015-2016. 2. None appeared on behalf of the assessee. Shri Rajib Jain, ld. CIT- DR appeared on behalf of the revenue. 3. We have considered the submissions of the ld. CIT-DR. Admittedly, the assessee has not represented its case before the ld. the AO nor provided any details with regard to its claim. In absence of genuineness of transaction, creditworthiness and verification of source of funds, the could not verify the investments made in Unlisted Equities during the period under consideration. As mentioned earlier, these are basically ex-parte order before the AO. This being so, in the interest of justice and so as to grant the assessee opportunity to substantiate its case, the issues in this appeal Printed from counselvise.com ITA No.37/Ran/24 2 are restored to the file of the ld. AO for readjudication on merits after granting the assessee adequate opportunity of being heard. The assessee is also directed to produce the directors of the company (sellers) to substantiate the identity, creditworthiness and source of funds and transactions made on unlisted equities. 4. In the result, appeal of the assessee is partly allowed for statistical purposes. Order dictated and pronounced in the open court on 09/10/2025. Sd/- (RATNESH NANDAN SAHAY) Sd/- (GEORGE MATHAN) लेख सदस्य / ACCOUNTANT MEMBER न्य नयक सदस्य / JUDICIAL MEMBER र ाँची Ranchi; दिनांक Dated 09/10/2025 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनिललपप अग्रेपर्ि/Copy of the Order forwarded to : आदेश िुस र/ BY ORDER, (Senior Private Secretary) आयकर अपीलीय अधिकरण, र ाँची / ITAT, Ranchi 1. अपीलार्थी / The Appellant- . 2. प्रत्यर्थी / The Respondent- 3. आयकि आयुक्त(अपील) / The CIT(A), 4. आयकर आयुक्त / CIT 5. निभागीय प्रनतनिनर्, आयकि अपीलीय अनर्किण, र ाँची / DR, ITAT, Ranchi 6. गार्ड फाईल / Guard file. सत्यापपत प्रतत //True Copy// Printed from counselvise.com "