ITAT upholds addition of share capital & share premium under Section 68

Invorex Trading Pvt. Ltd. Vs ITO (ITAT Kolkata) he ITAT Kolkata recently ruled on the dispute between Invorex Trading Pvt. Ltd. and the Income Tax Officer (ITO) concerning the addition of share capital and premium under Section 68 of the Income Tax Act, 1961. Despite numerous hearing dates, the appellant failed to attend, complicating the case further. The tribunal, after reviewing the arguments presented by the respondent, affirmed the addition of share capital and premium. Central to their decision was the appellant’s non-appearance and their inability to establish key requirements out...