REMIX SUPPLIERS PVT LTD,KOLKATA vs. WORD-2(1) KOLKATA, KOLKATA

PER SANJAY AWASTHI, ACCOUNTANT MEMBER 1. The present appeal arises from order u/s 250 of the Income Tax Act, 1961 (hereinafter “the Act”), passed by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereafter “the Ld. CIT(A)”] vide order dated 03.01.2024 for AY 2012-13. 1.1 In this case, the Ld.AO is seen to have initiated enquiries regarding the share premium charged on shares of face value of Rs 3,52,000/- on which a premium of Rs. 35,16,48,000/- have been charged by the assessee. Apart from this, sundry creditors of Rs. 10,82,500/- and some expenses have also been added by the Ld. AO. It is recorded in the Ld. AO’s order that the assessee did not comply with any of the notices served from his

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Remix Suppliers Pvt. Ltd.

office, fixing the dates for hearing and presentation of documents and evidences.
1.2
The assessee carried this matter in appeal where also it is recorded in para 3 at page 2 of the impugned order that several notices issued from the office of Ld. CIT(A) were not responded to by the assessee. Thereafter, the Ld. CIT(A) affirmed the action of Ld. AO. It is noteworthy that the assessee has not appeared before any of the authorities below till now.
1.3
However, the assessee has been further aggrieved with the action of Ld. CIT(A) and has filed the present appeal with the following grounds:
“1. The Leamed AO has wrongfully disallowed Rs. 35,20,00,000/-relating to increase in share capital of the assessee company. The same was received by the company on account of increase in share capital for which all the relevant procedure was taken fulfilled and Form 2 under companies Act, 1956 was also filed with the