Share Premium Addition Deleted as AO Found No Defect in Records

Happy Homes & Houses Pvt. Ltd. Vs ITO (ITAT Kolkata) Share Capital Addition Deleted – Non-Appearance of Investors Not Fatal When Identity and Creditworthiness Proved The Kolkata ITAT allowed the assessee’s appeal and deleted the addition of ₹1.50 crore made under Section 68 in respect of share capital and share premium. The Tribunal noted that the assessee had furnished complete documentary evidence including PAN, ITRs, audited financial statements, bank statements, share application forms, board resolutions and confirmations from all eight subscriber companies. Although the director...