ITAT Kolkata Deletes ₹4.46 Cr Addition on Share Capital & Premium

Suman Forwarding Agency Private Ltd. Vs DCIT (ITAT Kolkata) ITAT Kolkata Deletes ₹4.46 Cr Addition – Share Capital & Premium Held Genuine- Commission & Accommodation Entry Additions Quashed Assessee, a clearing & forwarding agent of Railways, appealed against the order of NFAC confirming additions made u/s 68 and 69C in respect of share capital, commission, and cash credits. Facts Assessee issued 74,332 equity shares at ₹600 (FV ₹100 + premium ₹500) to M/s Gajmurti Agency Pvt. Ltd., a group company, raising ₹4.46 crore. AO doubted genuineness, noting inspector could not...