https://www.taxtmi.com/caselaws?id=782734 ITAT Kolkata allowed the assessee's appeal and directed deletion of the addition made u/s 68 towards share capital and share premium. It held that mere non-compliance with summons u/s 131 by directors or subscribers cannot justify an addition when the assessee has produced comprehensive documentary evidence establishing identity, creditworthiness of investors and genuineness of the share transactions, including PAN, financial statements and bank statements, and when subscribers have duly responded to notices u/s 133(6), even in proceedings u/s 153A. The Tribunal found that the AO and CIT(A) failed to conduct further enquiry or identify defects in the evidences filed, rendering the addition unsustainable. en-us Tue, 11 Nov 2025 00:00:00 +0530 Mon, 01 Dec 2025 14:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782734 ITAT Kolkata allowed the assessee's appeal and directed deletion of the addition made u/s 68 towards share capital and share premium. It held that mere non-compliance with summons u/s 131 by directors or subscribers cannot justify an addition when the assessee has produced comprehensive documentary evidence establishing identity, creditworthiness of investors and genuineness of the share transactions, including PAN, financial statements and bank statements, and when subscribers have duly responded to notices u/s 133(6), even in proceedings u/s 153A. The Tribunal found that the AO and CIT(A) failed to conduct further enquiry or identify defects in the evidences filed, rendering the addition unsustainable. Case-Laws Income Tax Tue, 11 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782734