Suprersmelt Industries Pvt. Ltd Vs ITO (ITAT Kolkata)
Share Capital & Premium Addition u/s 68 Deleted – Documentary Evidence Ignored & No Enquiry by AO – High Premium Alone Not Ground for Addition – ITAT Kolkata
ITAT Kolkata deleted addition of ₹6.56 Cr u/s 68 towards share capital/share premium holding that assessee furnished complete evidences including confirmations, ITRs, audited financials & bank statements proving identity, creditworthiness & genuineness of subscribers. Tribunal observed that AO made addition merely on general allegations of accommodation entry and high premium without conducting any independent enquiry or issuing notices u/s 133(6)/131. It was further held that valuation under Rule 11UA was accepted and no addition u/s 56 was made; hence Sec 68 addition based on presumptions was unsustainable. Following multiple Calcutta HC rulings, ITAT directed AO to delete entire addition. Appeal allowed in favour of assessee.
FULL TEXT OF THE ORDER OF ITAT KOLKATA
This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 21.11.2025 for the AY 2015-16.
2. The assessee during the course of hearing pressed ground no.2,3,4,5 & 6, which are against the order of ld. CIT (A) confirming the addition of ₹6,56,98,750/- as made by the ld. AO in respect of share capital/ share premium.
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