Routing of funds in the garb of share premium – HC Upheld Reopening

Ambuj Foods Pvt. Ltd. Vs PCIT (Allahabad High Court)

In the present case, during the original assessment the A.O. had not formed any opinion in respect of the facts regarding routing of funds in the garb of share premium, which surfaced from the information received from the ADIT (Inv.), Unit – 6, Kolkata, the ACIT, Circle – 3 (2), New Delhi and the ITO (Inv.), Unit – 4, Kolkata. It was after receipt of this information, that the A.O. examined the records and found that the petitioner had received funds to the tune of Rs.95,00,000/- by way of rout

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