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Section 56(2)(viib)3

ORAGADAM CITY DEVELOPERS PVT. LTD.,CHENNAI vs. ITO, CORPORATE WARD-5(1), CHENNAI

In the result, Addition u/s

ITA 2173/CHNY/2025[2014-15]Status: DisposedITAT Chennai23 Feb 2026AY 2014-15

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

For Appellant: MR. R. Sivaraman, AdvFor Respondent: Mr. Guru Prasad, Addl. CIT

Section 143(2)Section 147Section 148Section 40Section 56(2)(viib)

reassessment proceedings were thus concluded u/s. 143(3) r.w.s 147 of the Act on 23.12.2019, determining the total assessed income at Rs.3,14,29,626/- making the following additions: (i) Rs.2,42,55,000/- u/s. 56(2)(viib) as income from other sources on account of excess share premium; (ii) Rs.2,41,899/- u/s. 43B towards unpaid statutory dues