M/s Truthful Vintrade Pvt. Ltd. vs. ITO, Ward-12(2), Kolkata

Parties Involved

Facts Summary

This appeal was filed by M/s Truthful Vintrade Pvt. Ltd. against the order dated 30.06.2025 of the CIT(A)-21, Kolkata, passed under section 250 of the Income-tax Act, 1961 for the assessment year 2012–13. The learned Authorized Representative (AR) drew attention to an order passed under section 263 of the Act dated 13.06.2016, whereby the Principal Commissioner of Income Tax (PCIT)-4, Kolkata directed the Assessing Officer to examine the credits appearing in the books of the assessee as share capital including premium and the nature of transactions, identity of investor, and its genuineness. The AR submitted that the present appeal becomes infructuous in view of the order passed under section 263 by the PCIT dated 13.06.2016.…

Legal Issues

• 1. Whether the appeal filed by the assessee has become infructuous due to the order passed under section 263 of the Income-tax Act by the PCIT?

Judgment Outcome

Decided in favour of Revenue.

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