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Addition for Share Capital & Premium: ITAT remands back case to CIT(A) for taking proper cognizance of evidence
Case Law Details
- Case Name
- ITO Vs Direct Mercantile Company Pvt. Ltd. (ITAT New Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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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 prop...
