DCIT, Central Circle-4(4), Kolkata Vs. Flex Trade Pvt. Ltd.
Case No: I.T.A. No. 1828/Kol/2024
Court: Income Tax Appellate Tribunal 'C' Bench: Kolkata
Date: 10/13/2025
Parties Involved
appellantDCIT, Central Circle-4(4), Kolkata
respondentFlex Trade Pvt. Ltd.
Facts Summary
The assessee, Flex Trade Pvt. Ltd., filed its original return of income declaring a total income of Rs.11,54,450/-. The Assessing Officer (AO) received credible information that a group of companies named ‘Oneworld group’ was involved in providing entry to other entities through bogus purchase and sales. The investigation revealed that M/s Aneri Fincap Ltd., a bogus entity, provided an unsecured loan of Rs.22,58,75,343/- to Flex Trade Pvt. Ltd. The AO issued notices and passed an assessment orde…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) erred in setting aside the reopening proceedings under section 148A(d) of the Act and subsequent proceedings under section 147 of the Act.
Precedents Relied Upon
5 precedents cited in this judgement.