DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA, VADODARA vs. TRUFORM TECHNO PRODUCTS PRIVATE LIMITED, NAGPUR

ITA 1775/AHD/2024Status: DisposedITAT Ahmedabad18 September 2025AY 2009-10Bench: SHRI SANJAY GARG (Judicial Member), SHRI NARENDRA PRASAD SINHA (Accountant Member)19 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s deletion of the addition, finding that the assessee had provided sufficient evidence to establish the identity, genuineness, and creditworthiness of the share transactions. The Revenue's grounds of appeal were dismissed.

What were the facts?

The Assessing Officer (AO) added Rs. 2,99,50,000/- as unexplained share capital and premium under Section 68 of the Income Tax Act, 1961, doubting the genuineness and creditworthiness of the investors. The CIT(A) deleted this addition, which was challenged by the Revenue.

What were the issues?

Whether the addition made by the AO under Section 68 for share capital and premium was justified, and whether the reopening of assessment under Section 147 was valid.

Which sections of the Income-tax Act were involved?

Section 68,Section 147,Section 148,Section 143(3),Section 78(2)

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Cases cited in this judgment(11)Show list

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Heard together (2 matters)

C.O. No.42/Ahd/2025
ITA No.1775/Ahd/2024

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

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH, AHMEDABAD BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Year: 2009-10

Deputy Commissioner of Truform Techno Products Income Tax, Private Limited, Circle – 2(1)(1), H. No.151, S.No.7/3, Vadodara – 390 007 Nagpur – 441 002 (Gujarat). (Maharashtra) [PAN – AAACT 8617 M]

(In ITA No.1775/Ahd/2024) Assessment Year: 2009-10

Truform Techno Products Deputy Commissioner of Private Limited, Income Tax, H. No.151, S.No.7/3, Circle – 2(1)(1), Nagpur – 441 002 (Maharashtra) Race Course Circle, [PAN – AAACT 8617 M] Vadodara – 390 007 (Gujarat). Assessment Year: 2012-13

ITA Nos.1775 & 1776/Ahd/2024 & (Assessment Years: 2009-10 & 2012-13) Circle – 2(1)(1), H. No.151, S.No.7/3, Aayakar Bhawan, At Kawtha, Race Course Circle, Tah Kamptee, Vs. Vadodara – 390 007 Nagpur – 441 002 (Gujarat

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