Identity and Genuineness Established: ₹10 Lakh Addition Set Aside

Blupex Niryat Private Limited Vs ACIT Central Circle (ITAT Kolkata) Non-Response to 131 Summons Not Enough: Kolkata ITAT Deletes ₹10 Lakh Share Application Addition u/s 68- Identity, PAN & Bank Trail Proved—Section 68 Addition Can’t Survive  Kolkata ITAT ‘SMC’ Bench in Blupex Niryat Pvt Ltd vs ACIT, Central Circle-3(3), Kolkata (ITA No.2346/Kol/2025, AY 2009-10, order dated 23-12-2025) allowed the assessee’s appeal and deleted the addition of ₹10 lakh made u/s 68, holding that mere non-compliance of summons u/s 131 by the share applicant cannot justify addition when the asse...