Calcutta HC Dismisses Revenue Appeal on Section 68 Share Capital Addition

PCIT Vs Rajshree Integrated Cold Chain Pvt Ltd (Calcutta High Court) The Calcutta High Court has dismissed an appeal filed by the Income Tax Department, ruling that no substantial question of law was involved. The appeal challenged an order from the Income Tax Appellate Tribunal (ITAT) which had deleted an addition made under Section 68 of the Income Tax Act, 1961, against Rajshree Integrated Cold Chain Pvt. Ltd. The dispute originated from an assessment order for the financial year 2012-13, where the Assessing Officer invoked Section 68 to add an amount related to share capital and share prem...