2025 (6) TMI 321

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.... AR [Through Hybrid Mode] ORDER PER MANJUNATHA G. : This appeal has been filed by the assessee against the order dated 18.11.2023 of the learned CIT(A)-National Faceless Appeal Centre [in short the "NFAC"] Delhi, relating to the assessment year 2012-2013. 2. Brief facts of the case are that, the appellant company is engaged in the business of manufacture of cotton yarn. The return of i....

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....9.2018 remanded the issue to the file of Assessing Officer with a direction to verify the investments in share capital, at least to the tune of 25% to 50% of 413 persons from whom the appellant-company claims to have received share capital. The Assessing Officer consequent to the directions of the ITAT has issued letter dated 12.12.2018 and called-upon the appellant-company to file relevant eviden....

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....0/-. 4. Aggrieved by the order of the learned CIT(A), the appellant-company is now in appeal before the Tribunal. 5. None appeared for the appellant-company. We have heard Learned DR and perused the material available on record. Initially notices were sent to the appellant-company. Subsequently, the appellant-company has filed an order passed by the National Company Law Tribunal [in short "N....

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....rial available on record. We find that, the Assessing Officer has made addition towards unexplained share capital amounting to Rs. 14,84,52,240/- on the ground that the assessee failed to file relevant evidences to prove genuineness of share capital claimed to have been received from 413 persons. Further, in second round of proceedings, although, the Tribunal has given direction to the Assessing O....