DCIT, Central Circle -4(2) Vs. Uma Vinimay Private Limited
Case No: ITA No. 1011/KOL/2024
Court: INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA
Date: 10/15/2025
Parties Involved
RespondentDCIT, Central Circle -4(2)
AppellantUma Vinimay Private Limited
Facts Summary
The assessee, Uma Vinimay Private Limited, is a core investment company of the Rika Group holding interests in shares & securities of the operating companies belonging to their group. The assessee filed the return of income on 22.09.2014 declaring nil income. The return was selected for scrutiny and during the assessment proceedings, the Assessing Officer (AO) noted that the assessee had received share capital of Rs.9,85,95,750/- from nineteen (19) share subscribers. The AO issued notices u/s 13…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition of ₹9,86,95,750/- by the Ld. CIT(A) which was made by the AO on account of share capital/ share premium by treating the same as unexplained cash credit.
- 2. Deletion of addition by the learned CIT (A) of ₹ 51,123/- as made by the learned AO u/s 14A of the Act.
Precedents Relied Upon
24 precedents cited in this judgement.