2025 (6) TMI 321

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.... 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 income for the assessment year 2012-13 has bee....

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....ssing 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 evidences to prove the share capital. There is no r....

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....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 "NCLT"], Hyderabad Bench, Hyderabad dated 18.04.2024,....

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.... 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 Officer to verify atleast 25% to 50% of 413 persons, b....