2024 (5) TMI 1519

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..... Om Narayan Rai, Adv., Mr. Amit Sharma, Adv. For the Respondent : Mr. Abhratosh Majumder, Sr. Adv., Mr. Pratyush Jhunjhunwalla, Adv., Ms. Sretapa Sinha, Adv., Mr. Kausheyo Roy, Adv. ORDER The Court : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 13th April, 2023 passed by the Income Tax Appellate Tribunal, "A....

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....d share capital and share premium alleged to be paid by the investors to the respondent? iii) Whether the Learned Tribunal has substantially erred in law in ignoring that the respondent assessee has failed to discharge its onus of proving the identity, genuineness and creditworthiness of the subscribing companies as well as genuineness of the share transactions? We have heard Mr. Om Na....

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....ed and added back to the total income of the assessee as unaccounted cash credit as per the provisions of Section 68 of the Act. Aggrieved by the same, the assessee preferred appeal before the Commissioner of Income Tax (Appeals)-17, [CIT(A)]. Before the Appellate authority the assessee did not appear and the Appellate authority by order dated 20th March, 2017 dismissed the appeal. The assessee....