2025 (8) TMI 1520

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....78 days in filing the appeal for which the assessee had filed condonation petition along with affidavit. We find from the condonation petition as well as supporting affidavit that the assessee company Advance Commotrade (P) Ltd. was merged with Kalindi Farms Private Limited vide NCLT order dated 31-05-2022, which became effective from 01-04-2020 with the result that Advance Commotrade (P) Ltd. was not in existence anymore. The order passed by the ld. CIT (A) dated 05.02.2024 was not received by the staff as many employees had left the job. We also observed that in Form 35 the address stated to be 25, Surendra Lal Pyne Lane, Kolkata-700012 has been discontinued. The order was also ex-parte when there was no compliance to the notice issued by....

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....as further mentioned that the case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act dated 18-03-2020, after obtaining prior approval of the appropriate authority after recording the reasons for reopening. Finally, the assessment was framed by making an addition of Rs.2.50 crore on account of unexplained cash credit in respect of transactions with Bholanath Trade Links Pvt Ltd. 05. In the appellate proceedings the ld. CIT (A) dismissed the appeal of the assessee by upholding the order of the ld. AO when assessee failed to make any compliance before the learned CIT (A). 06. After hearing the rival contentions and perusing the materials available on record, we find that the case of the assessee was reo....