2025 (11) TMI 731

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....i Jitender Singh, CIT-DR ORDER PER NAVEEN CHANDRA, AM :- This appeal by the assessee is directed against the order of the NFAC, Delhi dated 10.03.2025 pertaining to A.Y 2017-18. 2. The grounds raised by the assessee read as under: "1. Whether the Id. A.O has erred in law and facts of the case in considering loss of Rs. 15,39,98,889/- declared by the assessee company as Income.....

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.... that the assessee has received share capital and premium of Rs. 14,85,07,750/- for subscription of total 9737 shares at Rs. 15,251/- per share. The share capital and premium from non- resident (foreign companies) was Rs 12.54 crore and from resident shareholders, it was Rs 2.31 crore. The assessee was asked to prove the identity and credit worthiness of the allotees to whom the shares had been al....

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....ent in appeal before the ld. CIT(A) who after considering the facts and submissions, partly allowed the appeal of the assessee by directing the AO to examine and verify the details of investment made in the company as capital/premium as well as the creditworthiness of the subscribers. Now the assessee is in appeal against the impugned order of the ld. CIT(A). 7. The ld AR of the assessee veheme....