Piyush Suppliers Pvt. ltd. vs. Income Tax Officer, Ward 9(3)
Case No: ITA No.269/KOL/2024
Court: Income Tax Appellate Tribunal 'C' Bench, Kolkata
Date: 3/17/2025
Parties Involved
appellantPiyush Suppliers Pvt. ltd.
respondentIncome Tax Officer, Ward 9(3)
Facts Summary
The assessee, Piyush Suppliers Pvt. Ltd., filed its return of income on 29.09.2012, declaring a total loss of ₹54,478 for the assessment year 2012-13. The case was selected for scrutiny, and statutory notices were issued. The Assessing Officer (AO) observed that the company had issued 2,50,000 equity shares at a premium, raising share capital/premium of ₹2,50,00,000/-. The assessee provided detailed information in response to notices, including names, addresses, PANs, ITRs, audited accounts, and…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of ₹2,50,00,000/- by the ld. CIT (A) as made by the ld. AO on account of unexplained share capital/ share premium.
Precedents Relied Upon
8 precedents cited in this judgement.