Income Tax Officer, Ward 7(1) Vs. Tirumala Relcon Private Limited
Case No: ITA No. 409/KOL/2024
Court: Income Tax Appellate Tribunal 'A' Bench, Kolkata
Date: 2/5/2025
Parties Involved
RespondentIncome Tax Officer, Ward 7(1)
AppellantTirumala Relcon Private Limited
Facts Summary
The assessee, Tirumala Relcon Private Limited, filed its return of income on 30.09.2012, disclosing a loss of ₹3,92,370/-. The case was selected for scrutiny, and the Assessing Officer (AO) issued statutory notices and questionnaires. The assessee raised share capital/share premium amounting to ₹15,81,84,000/- during the assessment year. The AO issued notices under section 133(6) to the subscribers and summons under section 131 to the director of the assessee company. The subscribers replied wit…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition of ₹15,81,84,000/- made by the AO under section 68 of the Act.
Precedents Relied Upon
9 precedents cited in this judgement.