M/s B G Steels Pvt Ltd.
Case No: ITA No. 6255/DEL/2025
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘A’, NEW DELHI
Date: 1/8/2026
Parties Involved
appellantBG Steel Pvt. Ltd.
respondentITO
Facts Summary
The assessee, BG Steel Pvt. Ltd., filed its return for A.Y. 2012-13 declaring a total income of Rs. 38,34,130/-. The case was processed under section 143(1) of the Income Tax Act, 1961. Subsequently, based on information from the Investigation Wing regarding share application money and share premium received from certain paper/shell companies, the case was re-opened and a notice under section 148 was issued. The assessee filed a return in response, declaring the same income as in the original re…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the order passed by the Assessing Officer (AO) is bad in the eye of law and on facts.
- 2. Whether the AO erred in making the assessment at the income of Rs.3,06,46,060/- as against the returned income of Rs.38,34,134/- declared by the assessee company.
4 more legal issues analysed in this judgement.