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INCOME TAX APPELLATE TRIBUNAL (JAIPUR BENCH)
Shri Rathod Kamlesh Jayantbhai, AM
Revenue – Appellant
Versus
M/s Supreme Polymers Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of the appeal and initial findings regarding the assessment year. (Para 1 , 2 , 3) |
| 2. arguments presented by the revenue challenging the cit(a)'s decision. (Para 7 , 8) |
ORDER
PER: RATHOD KAMLESH JAYANTBHAI, AM
Feeling dissatisfied with the order of the Commissioner of Income Tax (Appeals), Jaipur -4 [ for short CIT(A) ] dated 11/12/2024 for assessment year 2015-16 the revenue preferred the present appeal. The ld. CIT(A) passed that order because the assessee challenged the order of the assessment dated 31.05.2021 passed under section 153A of the Income Tax Act, 1961 [ for short Act ] by ACIT, Central Circle-03, Jaipur [ for short AO].
2. Revenue assailed the present appeal on the following grounds: -
Ground 1. Whether on the facts and in the circumstances of the case, the Id. CIT(A) erred in deleting the addition of Rs.1,70,00,000/- in respect of unexplained share capital/premium received from M/s GRG Mercantile Pvt. Ltd which is factually an accommodation entry and the same fact was admitted by Sh. Satish Monga, director M/s GRG Mercantile Pvt. Ltd. in his statement recorded u/s 132(4) of the Act.
Ground 2. Whether on the facts and in the circumstances of th
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