2023 (2) TMI 742

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.... YADAV, VICE PRESIDENT: The present appeal is directed at the instance of the revenue against the order of the Learned Commissioner of Income Tax (Appeal) - 15, Kolkata (hereinafter the "ld. CIT(A)") dt. 30/10/2018, passed u/s 250 of the Income Tax Act, 1961 ("the Act'), for Assessment Year 2012-13. 2. The assessee has taken three (3) grounds of appeal but its sole grievance is that the ld. CIT(....

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.... observed that no power of attorney executed in favour of Shri S.K. Thaur, C.A. has been placed on record. Thus, he is not the authorised person to seek an adjournment. Normally, we do not hesitate in adjourning the matters on the request of assessees but we find that it is a case of share application and share premium. There are large number of appeals pending on this issue before the Tribunal an....

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.... capital of Rs.9,67,59,171/- which contains subscribed and paid up capital of Rs.10,93,950/- and a premium on such subscription at Rs.9,56,65,221/-. In response to the summons issued u/s 131 of the Act, neither the directors of the assessee company appeared nor the directors of the share applicant companies or any evidence was produced before the Assessing Officer. The assessee did not file any de....