ITAT Delhi Deletes Rs.8.16 Cr Addition on Share Capital & Commission – AO’s Suspicion Insufficient

B & B Sharecom Pvt. Ltd. Vs DCIT (ITAT Delhi) ITAT Delhi Deletes Rs.8.16 Cr Addition on Share Capital & Commission, Restores Speculative Loss Issue-AO’s Suspicion Not Enough Assessee appealed against order of NFAC wherein additions relating to share capital, alleged commission & speculative loss treatment were confirmed. AO noted that during FY 2015-16  Assessee issued 80,00,000 shares of Rs.10 each to three companies – JA Infracon Pvt. Ltd., Adila Traders Pvt. Ltd. & Sonal Styles Pvt. Ltd. Notices u/s 133(6) returned unserved & verification reports showed non-existenc...