HC couldn’t indulge in factual examination of dispute u/s 68 as it was beyond scope of appeal u/s 260A

PCIT Vs Delta Dealers Private Limited (Calcutta High Court) Conclusion: High Court  could not indulge in factual examination of the material produced or not produced by an assessee-company to explain the share capital and premium received by it in an appeal filed under Section 260A and it was the duty of AO to have done such an exercise. Tribunal was justified in allowing the appeal. Held: In the instant case, Department was aggrieved by ITAT order deleting the addition made by AO, by allegedly ignoring that assessee failed to explain its non-existence at its registered address, share capital...