Tribunal sets aside addition of Rs.115 Cr relating to share premium received from foreign investors

Raw Pressery Private Limited Vs ACIT (ITAT Mumbai) Conclusion: Addition made by the lower authorities to the extent of opening balance of share premium of Rs.63,32,28,987/- u/s 68 in AY 2018-19 was unjustified as share premium received in earlier years had already been examined and verified in the income-tax assessments framed u/s 143(3)  and the explanation furnished by assessee had been accepted. The remaining addition to the extent of Rs.48,21,36,180/- being the share premium received from foreign investors was set aside back to the file of the AO/NFAC for de-novo assessment in respect of ...