ORDER

Per Rajesh Kumar, Accountant Member:

The present appeal has been preferred by the Revenue against the order dated 10.11.2014 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2010-11.

2. The only ground raised by the Revenue is against the deletion of addition of Rs.4,83,50,000/- by the Ld. CIT(A) as made by the AO towards share application and share premium received by the assessee during the year.

3. The ground is reproduced as under:

"The Ld. CIT(A) has erred in deleting the addition of Rs. 4,83,50,000/- claimed to be received as share application and share premium money by assessee, ignoring the factual finding by the AO that neither the identity of investors nor the creditworthiness of investors nor the genuineness of the transaction is proved.

The appellant prays that the order of the CIT(A) on the above ground be set aside and that of the AO be restored.

The appellant craves leave to amend or alter any grounds or add a new ground which may be necessary.”

4. The facts in brief are that the assessee filed the return of income on 15.10.2010 declaring an income of Rs.10,38,75,710/- and book profit under section 115JB of