Deepmala Vyapaar Private Limited Vs ITO (ITAT Kolkata)
The assessee filed an appeal against the order dated 04.07.2025 passed by the National Faceless Appeal Centre under Section 250 of the Income-tax Act for Assessment Year 2012–13. The assessee had originally filed its return declaring a total income of Rs. 42,222/-. The case was selected for scrutiny under CASS on the ground that the assessee company had issued its shares to various private companies at a high premium. Notices under Sections 143(2) and 142(1) were issued, and the assessee submitted certain details during the assessment. The Assessing Officer completed the assessment by making an addition of Rs. 6,90,45,000/- under Section 68.
The assessee challenged the assessment order before the CIT(A), but the appeal was dismissed ex parte due to non-compliance. In the present appeal before the Tribunal, the authorised representative argued that the CIT(A) erred in passing an ex parte order without considering the written submissions and documentary evidence filed during the assessment proceedings. It was further contended that both the Assessing Officer and CIT(A) failed to examine the material already submitted by the assessee. The assessee requested that the matter be remanded to the Assessing Officer for fresh consideration after granting an opportunity of hearing.
