ITAT deletes addition for Share Application Money from Kolkata based companies

ITO Vs Sharda Shree Agriculture & Developers Pvt. Ltd. (ITAT Raipur) ITO vs. Sharda Shree Agriculture & Properties Pvt. Ltd. ITA NO.84/RPR/2017 (Date of Order : 05.08.2022) relating to addition on account of Share Application Money from two Kolkata based companies. Entire Addition was deleted In our considered view, as the failure on the part of the A.O to call for the requisite information by issuing notices/letters u/s. 133(6) of the Act to the aforesaid investor companies well within a reasonable time had resulted to the delay in furnishing of the requisite reply by them, therefore,...