M/s Blupex Niryat Private Limited vs. ACIT Central Circle 3(3), Kolkata
Case No: I.T.A. No.2346/Kol/2025
Court: Income Tax Appellate Tribunal, SMC Bench, Kolkata
Date: 12/23/2025
Parties Involved
appellantM/s Blupex Niryat Private Limited
respondentACIT Central Circle 3(3), Kolkata
Facts Summary
The assessee, M/s Blupex Niryat Private Limited, filed its return of income on 15.09.2009 declaring a total income of Rs. 15,000/-. The case was reopened u/s 147 of the Income Tax Act, 1961 by issuing a notice u/s 148 on 17.03.2016. In compliance, the assessee filed a return of income on 04.10.2016. The assessee issued 10,000 equity shares at a face value of Rs. 10/- and a premium of Rs. 90/-. The Assessing Officer (AO) added Rs. 10.00 lacs as unexplained cash credit under section 68 of the Act,…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of Rs. 10.00 lacs as unexplained cash credit under section 68 of the Income Tax Act, 1961 is justified.
Precedents Relied Upon
5 precedents cited in this judgement.