Shri Satabdi Developers Pvt. ltd. vs. ITO, Ward 10(2)
Case No: ITA No.1787/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA
Date: 11/11/2025
Parties Involved
appellantShri Satabdi Developers Pvt. ltd.
respondentITO, Ward 10(2)
Facts Summary
The assessee, Shri Satabdi Developers Pvt. ltd., filed the return of income on 29.09.2012, declaring total income at ₹Nil. The case was selected for scrutiny, and statutory notices along with a questionnaire were issued, which were not replied to by the assessee. A show cause notice was given on 02.03.2015, calling upon the assessee to explain why the share capital/share premium of ₹2,02,70,000/- should not be added as an unexplained cash credit. This amount was added as unexplained cash credit …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay of 209 days in filing the appeal should be condoned.
- 2. Whether the addition of ₹2,02,70,000/- as unexplained cash credit u/s 68 of the Act is justified.
Precedents Relied Upon
4 precedents cited in this judgement.