Rameshwar Finvest Private Limited Vs. DCIT, Central Circle 3
Parties Involved
Facts Summary
The case pertains to an appeal by Rameshwar Finvest Private Limited against the order of the Commissioner of Income-tax (Appeals), Kolkata, dated 06.08.2025, for the Assessment Year 2008-09. The assessee challenged the assessment framed under sections 263/143(3)/147 of the Income-tax Act, 1961, on the grounds of invalid exercise of revisionary jurisdiction and the confirmation of an addition of ₹32,04,00,000 by the ld. CIT (A) as unexplained cash credit under section 68 of the Act. The assessee argued that all evidences were produced during reassessment proceedings and that the addition was made without proper examination of the documents and without following the principles of natural justice.…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of the assessment framed under sections 263/143(3)/147 of the Income-tax Act, 1961.
- 2. Confirmation of addition of ₹32,04,00,000 by the ld. CIT (A) as unexplained cash credit under section 68 of the Act.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
16 precedents cited in this judgement.
Similar Judgements
Samudra Commotrade (P) Ltd. Vs. A.O., NFAC, New Delhi
Kolkata 'C' Bench benchAY 2009-10Partly AllowedDCIT vs. PCJ Finvest Private Limited
M/s. Enfield Vyapaar Pvt. Ltd. Vs. I.T.O., Ward-1(1), Kolkata
Kolkata ‘B’ Bench benchAY 2008-09Partly AllowedAbhiruchi Marketing P. Ltd. vs. ITO, Ward 7(1)
Kolkata benchAY 2008-09AllowedIndian City Properties Limited Vs Pr.CIT, Kolkata-2
Kolkata benchAY 2020-2021AllowedLumino Industries Limited Vs. DCIT, CC 2(3)
Kolkata Bench benchAY 2020-21Allowed