https://www.taxtmi.com/caselaws?id=427305 The Tribunal upheld the lower authorities' decision in dismissing the assessee's appeal against the CIT(A)'s order for Assessment Year 2012-13. The case revolved around the addition of share capital and share premium as unexplained credit. Despite opportunities, the assessee did not participate in the proceedings, leading to an ex-parte order by the CIT(A). The Assessing Officer raised concerns about the high premium on shares issued by the assessee without proper justification, resulting in the addition of the amounts as unexplained cash credits. The Tribunal affirmed the lower authorities' orders due to the assessee's lack of cooperation. en-us Fri, 02 Sep 2022 00:00:00 +0530 Tue, 06 Sep 2022 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427305 The Tribunal upheld the lower authorities' decision in dismissing the assessee's appeal against the CIT(A)'s order for Assessment Year 2012-13. The case revolved around the addition of share capital and share premium as unexplained credit. Despite opportunities, the assessee did not participate in the proceedings, leading to an ex-parte order by the CIT(A). The Assessing Officer raised concerns about the high premium on shares issued by the assessee without proper justification, resulting in the addition of the amounts as unexplained cash credits. The Tribunal affirmed the lower authorities' orders due to the assessee's lack of cooperation. Case-Laws Income Tax Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427305