INCOME TAX OFFICER, AMBIKAPUR vs. MAA SHAKAMBHARI INFRATECH PRIVATE LIMITED, AMBIKAPUR

ITA 696/RPR/2025Status: DisposedITAT Raipur10 September 2026AY 2012-138 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the conditions for invoking Section 69 were not met as the assessee received investments and recorded them in its books. The identity, genuineness, and creditworthiness of the investor were established.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 2,83,00,000/- on account of share application money received by the assessee, treating it as unexplained investment under Section 69. The CIT(Appeals) deleted this addition.

What were the issues?

Whether the addition made by the AO under Section 69 for share application money was justified, and if the assessee had discharged its onus regarding the identity, genuineness, and creditworthiness of the investor.

Which sections of the Income-tax Act were involved?

Section 69

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH “DB”, RAIPUR

Before: SHRI PARTHA SARATHI CHAUDHURY & SHRI AVDHESH KUMAR MISHRA

For Appellant: Shri G.S. Agrawal &
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 09.09.2026Pronounced: 10.09.2026

Heard together (2 matters)

ITA No.696/RPR/2025
CO No.04/RPR/2026

Read from the judgment's own cause title. This page is filed under one of them.

PER BENCH: The captioned appeal preferred by the Revenue and corresponding cross objection by the assessee emanates from the order of the Ld.CIT(Appeals)/NFAC, Delhi dated 19.09.2025 for the assessment year 2012-13 as per the grounds of appeal on record.

2.

At the very outset, a petition has been filed by the Ld. Counsel for the assessee

The order continues below.

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