https://www.taxtmi.com/caselaws?id=781778 ITAT Kolkata dismissed the Revenue's appeal and upheld deletion of the addition made u/s 68 on alleged bogus share capital and premium. The assessee, engaged in trading in services, had issued equity shares at a premium to four investor entities. CIT(A) had examined and accepted the investors' financial capacity and noted that their investments formed a reasonable proportion of their investible funds, with their assessments completed u/s 143(3). ITAT held that mere non-compliance with summons u/s 131 by the director, without further enquiry by AO, could not justify the addition. en-us Wed, 15 Oct 2025 00:00:00 +0530 Wed, 19 Nov 2025 13:01:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781778 ITAT Kolkata dismissed the Revenue's appeal and upheld deletion of the addition made u/s 68 on alleged bogus share capital and premium. The assessee, engaged in trading in services, had issued equity shares at a premium to four investor entities. CIT(A) had examined and accepted the investors' financial capacity and noted that their investments formed a reasonable proportion of their investible funds, with their assessments completed u/s 143(3). ITAT held that mere non-compliance with summons u/s 131 by the director, without further enquiry by AO, could not justify the addition. Case-Laws Income Tax Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781778