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Income tax

ITAT Kolkata Sets Aside Order, Remits Case to Allow Assesee to Respond

Strategic Insights

— 1 min read

The Income Tax Appellate Tribunal (ITAT) in Kolkata has issued an order on June 24, 2025, setting aside the decision of the Additional/Joint Commissioner of Income Tax Bhopal and remitting the case back to the file of the Addl./JCIT(Appeals) for deciding it afresh. The order was passed in the case of BPO Solutions Private Limited (successor to M/s. Arcee Finvest Limited) against the order of the Addl./JCIT(Appeals) dated January 14, 2025, for Assessment Year 2017-18. The Tribunal has directed the Addl./JCIT(Appeals) to provide one more opportunity to the assessee to be heard and to promptly cooperate with the proceedings, failing which the Addl./JCIT(Appeals) may pass an appropriate order based on the materials available on record.

Key Takeaways:

  • The ITAT in Kolkata has set aside the decision of the Addl./JCIT(Appeals) Bhopal and remitted the case back to the file of the Addl./JCIT(Appeals) for deciding it afresh.
  • The order was passed in the case of BPO Solutions Private Limited (successor to M/s. Arcee Finvest Limited) against the order of the Addl./JCIT(Appeals) dated January 14, 2025, for Assessment Year 2017-18.
  • The Tribunal has directed the Addl./JCIT(Appeals) to provide one more opportunity to the assessee to be heard and to promptly cooperate with the proceedings, failing which the Addl./JCIT(Appeals) may pass an appropriate order based on the materials available on record.
  • The assessee failed to timely respond to notices and present relevant documents, leading to the original order.

Statistics:

  • The assessee had non-current investments of Rs.47,14,32,607/- as on 31.03.2017.
  • The assessee earned exempt income in the form of dividend amounting to Rs.4,44,015/-.
  • The assessee had a brought forward loss of Rs.1,15,39,750/-.
  • The assessee incurred a current year loss of Rs.4,32,973/-.
  • The Assessing Officer assessed the income of the assessee at NIL under section 143(3) of the Act after adjustment of the brought forward loss of Rs.1,15,39,750/-.
  • The assessee preferred appeal before the CIT(Appeals), which was dismissed ex-parte on January 14, 2025.

Sources:

  • ITAT Kolkata Order, June 24, 2025, ITA No. 438/KOL/2025 Assessment Year: 2017-2018
  • Order of the Additional/Joint Commissioner of Income Tax Bhopal, dated January 14, 2025.

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