ITAT Kolkata Restores ₹22.90 Cr Share Capital Addition Case

Welsome Finance Pvt. Ltd. Vs ITO (ITAT Kolkata) Non-compliance at appellate stage does not bar fresh chance if assessee can produce evidence; ITAT Kolkata Restores Share Capital Addition Issue to AO – Assessee Gets Fresh Opportunity Kolkata Tribunal restored the issue of share capital addition to the file of AO for fresh adjudication, granting assessee another opportunity to substantiate its claim with evidence. Assessee filed return on 29.09.2012 declaring income of ₹1,04,160/-. Case was selected for scrutiny under CASS for “large share premium received.” AO, noting assessee’s f...