2025 (3) TMI 1935

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R RAJESH KUMAR, AM: This is an appeal preferred by the assessee against the order of the Pr. Commissioner of Income Tax-2 (hereinafter referred to as the "Ld. PCIT"] dated 02.01.2017 for the AY 2012-13. 02. The only issue pressed at the time of hearing by the counsel, is against the order of ld. CIT(A) confirming the addition of Rs. 1,02,00,000/- as made by the ld. AO u/s 68 of the Act by tr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....elf. However, the ld. AO relying on the decision of the Apex Court in the case of Commissioner of Income-tax vs. Durga Prasad More [1971] 82 ITR 540 (SC)[26-08-1971] and Sumati Dayal vs. Commissioner of Income-tax [1995] 80 Taxman 89 (SC)/[1995] 214 ITR 801 (SC)/[1995] 125 CTR 124 (SC)[28-03-1995], treated the share capital/ share premium of Rs. 1,02,00,000/- as unexplained income of the assessee ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t orders are available at page no. 2 to 6 and 76 to 77 of the PB. Similarly, in the other two cases namely Khetan Tracon P. Ltd. and Nihon Impex P. Ltd., the revenue accepted the investments made by these companies in the assessee company by way of share subscription and the assessment orders are available at page no. 43 to 44 and 60 and 62 of the paper book. Moreover the assessee has filed all th....