2022 (5) TMI 1586

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....inst the order of the Commissioner of Income Tax(Appeals)-3, Kolkata [hereinafter referred to as 'Ld. CIT(A)'] dated 16.09.2020 for the assessment year 2012-13. 2. The assessee has raised various grounds challenging the confirmation of addition of Rs. 24,36,00,000/- by Ld. CIT(A) as made by the AO on account of unexplained cash credit u/s 68 of the Income Tax Act, 1961 (hereinafter referred to as....

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....of hearing despite granting fair opportunity to the assessee to present its case. Under these circumstances we have to decide the appeal on the basis of materials available before us. We have gone through the facts and tried to understand the issue with the assistance of ld DR and find that the assessee has raised share capital to the tune of Rs. 24,36,00,000/- . We note that the assessee has not ....