https://www.taxtmi.com/caselaws?id=437552 The ITAT Kolkata dismissed the assessee's appeal against the addition of Rs.3,93,00,000 under section 68 of the Income Tax Act. The Tribunal upheld the addition due to lack of evidence supporting the transaction, identity, creditworthiness, or genuineness of the share capital with premium received by the assessee. Despite the assessee's failure to respond to investigation summons and notices from the CIT(Appeals) and Tribunal, the appeal was dismissed for lack of merit on April 27, 2023. en-us Thu, 27 Apr 2023 00:00:00 +0530 Tue, 09 May 2023 08:06:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437552 The ITAT Kolkata dismissed the assessee's appeal against the addition of Rs.3,93,00,000 under section 68 of the Income Tax Act. The Tribunal upheld the addition due to lack of evidence supporting the transaction, identity, creditworthiness, or genuineness of the share capital with premium received by the assessee. Despite the assessee's failure to respond to investigation summons and notices from the CIT(Appeals) and Tribunal, the appeal was dismissed for lack of merit on April 27, 2023. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437552