2025 (2) TMI 1443

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....l, Adv. For the Revenue : Sh. Rajesh Kumar Dhanesta, Sr. DR ORDER PER SATBEER SINGH GODARA, JUDICIAL MEMBER: This assessee's appeal for Assessment Year 2013-14, arises against the CIT(A)-1, Noida's in case No. 09/201617/Noida, dated 17.03.2017, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties at length. Case file perused. 3. Th....

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....utset that the learned Assessing Officer had questioned the assessee's alleged extraordinary share premium of Rs. 50 per unit as against face value of Rs. 10/- each; for the purpose of making the addition herein u/s 56(2)(vii)(b) of the Act. We further note that instead of examining the justification of the assessee's impugned share premium, the Assessing Officer invoked case law CIT Vs. Durga Pra....

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....invoked in the instant case. We thus see no merit in the impugned addition made by both the lower authorities which is directed to be deleted in very terms. The assessee succeeds in it's instant first and foremost substantive ground therefore. 6. Next comes the enhancement issue of Rs. 5,50,000/- made in the lower appellate proceedings which nowhere formed subject matter of any disallowance or ....