ITO, WARD-4(1), KOLKATA, KOLKATA vs. M/S THANWAS INVESTMENTS LTD., KOLKATA

This appeal by the Revenue against the order dated 27.03.2017 passed by CIT(A)-2, Kolkata for AY 2012-13.

Heard both parties and perused the material available on record. It is noted from the record that the CIT(A) examined the assessment record and found no share capital/share application money was raised by the assessee during the year under consideration. Ld.DR did not bring any evidence on record contrary to the said finding of the CIT(A). We find no infirmity in the order of CIT(A). Therefore, Ground Nos. 1, 2 & 3 raised by the Revenue are dismissed.

In the result, the appeal of the Revenue is dismissed. Order pronounced in the open court on 22.11.2018.