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Judgment
PER MADHUMITA ROY, JM:
The instant appeal filed by the assessee is directed against the order dated 30.12.2025 passed by the Ld. Commissioner of Income-tax (Appeals)/National Faceless Appeal Centre, Delhi under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) arising out of the Assessment Order dated 08.02.2024 passed by the Assessment Unit, Income-tax Department under Section 147 r.w. Section 144B of the Act for Assessment Year 2019-20.
The matter relates to reassessment proceeding under Section 147 of the Act which was initiated on the basis of the information available in Form 26AS reflecting certain receipts subject to TDS under Sections 194C and 194J of the Act. Notice, therefore, under Section 148 of the Act dated 31.01.2023 was served upon the Assessee whereupon the appellant duly filed its return of income on 24.09.2023 declaring total income at Rs. NIL and claiming current year loss of Rs. 21,47,134/-. It is the case of the Assessee that the reassessment proceeding was conducted under the cases regime and completed under Section 147 read with Section 144 and 144B of the Act on 08.02.2024 under Ld. Assessing Officer determining total income at Rs. 61,18,280/-solely on the basis of figures appearing in Form No. 26AS. No independent enquiry was conducted to ascertain the nature of receipts or corresponding expenditure. Neither the assessment order records any defect in the books nor any finding that the receipts were unaccounted.
Under these facts and circumstances of the matter, we, thus disposing of this appeal by remitting the issue to the file of the Ld. CIT(A) to make an enquiry as to whether the receipts are incorporated in the profit and loss account. In this regard, he has also at liberty to call for a Remand Report from the Ld. AO and to pass orders accordingly.
In the result, appeal of the Assessee is allowed for statistical purposes.