2025 (9) TMI 1427

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....D V. MAHADEOKAR, AM: This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre - NFAC, Delhi [hereinafter referred to as "CIT(A)"], dated 25/08/2021, arising out of the assessment order passed by the Assistant Commissioner of Income Tax, Circle 1(1)(2), Ahmedabad [hereinafter referred to as "AO"], under Section 143(3) of ....

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.... AO observed that the assessee had delayed depositing employees' contributions to PF/ESI amounting to Rs. 1,41,730/-, beyond the due dates prescribed under the respective Acts. * Although the contributions were deposited before the due date for filing the return under Section 139(1), the AO disallowed the claim, citing the provisions of Section 2(24)(x) read with Section 36(1)(va). ....

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.... 30/07/2016 56,500 175 30 16,95,000 Bhagchandani Group 20/10/2016 15,000 273 128 19,20,000 Todi Group 30/03/2017 5,65,000 127 Nil Nil Bhagchandani Group 30/03/2017 35,000 273 128 44,88,000 Total Addition under Section 56(2)(viib) amounted to Rs. 1,18,00,000/- (Actual total of the amounts come to Rs. 1,18,08,000/-). 3. The as....

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....ribunal. Furthermore, no written submissions, including the statement of facts or supporting documents, have been filed by the appellant on record. 6. From the grounds of appeal, it is noted that the appeal pertains to a solitary issue of Addition under Section 56(2)(viib) on account of share premium exceeding the fair market value (FMV), amounting to Rs. 1,18,00,000/-. 6.1. We observe that ....