Share Capital & Premium Can’t Be Added Solely for Non-Appearance of Investors: ITAT Kolkata

Silkina Commodeal Pvt. Ltd. Vs ITO (ITAT Kolkata) ITAT Kolkata Deletes ₹21.39 Cr Section 68 Addition—Share Capital & Premium Cannot Be Added Solely for Non-Appearance of Investors The Kolkata Bench of the ITAT allowed the appeal of Silkina Commodeal Pvt. Ltd. for AY 2008-09 and deleted the addition of ₹21.39 crore made under section 68 on account of share capital and share premium. The Tribunal held that once the assessee has furnished all primary evidences to establish the identity of shareholders, their creditworthiness, and the genuineness of transactions, an addition cannot be su...