Sec 68 Addition on Share Capital & Premium Deleted: No AO Enquiry; High Premium Not Enough – ITAT Kolkata

CA Vijayakumar Shetty 21 Feb 2026 3,873 Views 0 comment Print Income Tax | Featured, Judiciary

Case Law Details

Case Name : Suprersmelt Industries Pvt. Ltd Vs ITO (ITAT Kolkata)

Related Assessment Year : 2015-16

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Suprersmelt Industries Pvt. Ltd Vs ITO (ITAT Kolkata) Share Capital & Premium Addition u/s 68 Deleted – Documentary Evidence Ignored & No Enquiry by AO – High Premium Alone Not Ground for Addition – ITAT Kolkata ITAT Kolkata deleted addition of ₹6.56 Cr u/s 68 towards share capital/share premium holding that assessee furnished complete evidences including confirmations, ITRs, audited financials & bank statements proving identity, creditworthiness & genuineness of subscribers. Tribunal observed that AO made addition merely on general allegations of accommodation entry an...

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Author Bio

Name: CA Vijayakumar Shetty

Qualification: CA in Practice

Company: Shetty & Co, Chartered Accountants, Mangalore

Location: Mangalore, Karnataka, India

Member Since: 17 Feb 2018 | Total Posts: 4795

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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Case Law Details

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Author Bio

Name: CA Vijayakumar Shetty

Qualification: CA in Practice

Company: Shetty & Co, Chartered Accountants, Mangalore

Location: Mangalore, Karnataka, India

Member Since: 17 Feb 2018 | Total Posts: 4795

My Published Posts

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