Maa Chhinmastika Enterprises Pvt. Ltd. vs ITO, Ward-2(1), Patna

Parties Involved

Facts Summary

This case involves an appeal filed by the assessee, Maa Chhinmastika Enterprises Pvt. Ltd., against the order of the CIT(A), NFAC, DELHI for the assessment year 2012-13. The assessee had received share application money of Rs.62,00,000/- during the assessment year 2007-08 and allotted shares during the assessment year 2012-13. The assessee claimed that the addition is not called for due to the transfer of the received amount to the capital account. However, the assessee did not produce evidence to substantiate its claim before the Assessing Officer. The ld. Sr. DR submitted that the assessee has not cooperated before the assessing authority and that the ld. CIT(A) has restored the issue to the file of the Assessing Officer for fresh adjudication.…

Legal Issues

• 1. Whether the assessee has produced evidence to substantiate its claim before the Assessing Officer?
• 2. Whether the order of the ld. CIT(A) should be upheld?

Judgment Outcome

Decided in favour of Assessee.

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