2025 (7) TMI 1964

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....he Appellant : Mr. Soumen Bhattacharjee, Adv. Mr. Ankan Das, Adv. Ms. Shradhya Ghosh, Adv. Foe the Respondent : None ORDER The Court : This appeal by the Income Tax department has been filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order 1.1.2024 passed by the Income Tax Appellate Tribunal, "B" Bench, Kolkata (the Tribunal) in ITA/40/Kol/2021 for th....

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....he Company in the beginning year of its incorporation defying the financial jurisprudence ?" We have elaborately heard Mr. Soumen Bhattacharjee, learned advocate for the appellant/revenue. The appeal filed by the department before the learned Tribunal challenging the order passed by the Commissioner of Income Tax (Appeals)-7, Kolkata [CIT(A)] dated 22.9.2020 was dismissed. The CIT(A) by the ....

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....ax assessee, they are filing their income tax returns, share application forms and allotment letters are available on record, share application money was made by account payee cheques, details of the bank accounts belonging to the share applicants and their bank statements were produced, none of the transactions are any deposit of cash before issuing cheques to the assessee and all the share appli....