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ITAT Kolkata Deletes ₹4.46 Cr Addition on Share Capital & Premium
Case Law Details
- Case Name
- Suman Forwarding Agency Private Ltd. Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Kolkata
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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...
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