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Section 68 Proviso Not Retrospective – ITAT Quashes Huge Share Capital Addition
Case Law Details
- Case Name
- Rameshwar Finvest Private Limited Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Kolkata
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Rameshwar Finvest Private Limited Vs DCIT (ITAT Kolkata)
Section 68 Proviso Not Retrospective—ITAT Quashes Huge Share Capital Addition – ₹32.04 Cr Share Capital Addition Falls: No Cross-Examination, No 68 Addition:
Kolkata ITAT ‘D’ Bench in Rameshwar Finvest Pvt Ltd vs DCIT, Central Circle-3(3), Kolkata (ITA No.2107/Kol/2025, AY 2008-09, order dated 23-12-2025) allowed the assessee’s appeal and deleted the entire addition of ₹32.04 crore made u/s 68, holding that the assessee had duly discharged the onus of proving identity, creditworthiness and genuineness of sha...
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