Addition for Share Capital & Premium: ITAT remands back case to CIT(A) for taking proper cognizance of evidence

ITO Vs Direct Mercantile Company Pvt. Ltd. (ITAT New Delhi) Issue- Ld. Commissioner of Income Tax (Appeal) erred in law and on facts of the case in deleting the addition of Rs. 3,14,16,000/- made by the A.O on account of unexplained share capital & share premium and Rs. 2,10,00,000/- on account of unexplained investment Submission by Revenue The Ld. DR submitted that the Assessing Office has taken into account, the evidences filed by the assessee and from the perusal of such evidence the assessing Officer came to the conclusion that some of the party details were not proper and, therefore...