https://www.taxtmi.com/caselaws?id=460384 The ITAT Kolkata dismissed the revenue's appeal regarding bogus share capital additions under section 68. The Assessing Officer failed to conduct proper enquiry despite the assessee submitting over 140 pages of supporting material. The AO merely relied on DDIT Investigation findings without analytical verification or rebutting the assessee's contentions. Though procedural irregularities existed regarding reopening reasons and Principal CIT approval, the ITAT upheld the CIT(Appeals) decision on merit, finding no fault in the assessee's submissions that remained uncontroverted. en-us Wed, 02 Nov 2022 00:00:00 +0530 Tue, 21 Jan 2025 19:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460384 The ITAT Kolkata dismissed the revenue's appeal regarding bogus share capital additions under section 68. The Assessing Officer failed to conduct proper enquiry despite the assessee submitting over 140 pages of supporting material. The AO merely relied on DDIT Investigation findings without analytical verification or rebutting the assessee's contentions. Though procedural irregularities existed regarding reopening reasons and Principal CIT approval, the ITAT upheld the CIT(Appeals) decision on merit, finding no fault in the assessee's submissions that remained uncontroverted. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460384