HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

DATE : 17th July, 2025.

Mr. Soumen Bhattacharjee, Adv.

Mr. Ankan Das, Adv.

Ms. Shradhya Ghosh, Adv. …for appellant.

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 the assessment year 2012-13.

The revenue has raised the following substantial questions of law for consideration :

“1. Whether the Learned Income Tax Appellate Tribunal has committed substantial error in law in dismissing the appeal of the revenue on addition in respect of share capital and share premium u/s 68 of the Income Tax Act, 1961 without giving due credence to the evidence available on record ?

2. Whether the Learned Income Tax Appellate Tribunal has committed substantial error in law in dismissing the appeal of the revenue by relying on the unmeritorious finding of the CIT(A) in the case ignoring the identity of the share subscribing company even in the case of a company which is presently struck off and ignoring the fact that huge amount had been invested i