DCIT, Central Circle-4(3), Kolkata Vs Ishana Projects Private Limited
Case No: ITA No.1774 & 1775/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA
Date: 12/30/2025
Parties Involved
appellantDCIT, Central Circle-4(3), Kolkata
respondentIshana Projects Private Limited
Facts Summary
The case involves two appeals filed by the revenue against the orders of the CIT(Appeals), Kolkata, for the assessment years 2015-2016 and 2016-2017. The revenue filed the appeals belatedly by five days each but provided sufficient reasons for condonation of the delay, which was accepted by the tribunal. The core issue revolves around the sale of bogus investments by Energy Commodities Private Limited, which had merged with Ishana Projects Private Limited. The revenue argued that the assessment …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeals by the revenue should be condoned.
- 2. Whether the assessment order should have been quashed by the CIT(A) on the ground that the assessee company had merged with another company.
Precedents Relied Upon
2 precedents cited in this judgement.