DCIT vs. Kohinoor Bengal Infrastructure Private Limited
Case No: ITA No. 1531/KOL/2024 & CO No. 43/KOL/2024
Court: Income Tax Appellate Tribunal 'A' Bench, Kolkata
Date: 1/8/2025
Parties Involved
appellantDCIT
respondentKohinoor Bengal Infrastructure Private Limited
Facts Summary
The assessee, Kohinoor Bengal Infrastructure Private Limited, filed its original return of income declaring a total loss. The case was reopened by the Assessing Officer (AO) based on information that the assessee had received bogus share capital of ₹1,50,00,000/-. The AO issued notices and the assessee provided various documents to substantiate the genuineness of the transactions. The AO concluded that the money raised was not explained and added it to the assessee's income. The Commissioner of …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of ₹1,50,00,000/- by the AO as share capital raised during the year is valid.
- 2. Whether the reopening of the assessment proceedings was justified.
Precedents Relied Upon
6 precedents cited in this judgement.