MANTRAM COMMODITIES PVT. LTD.,FARIDABAD vs. ITO WARD 1(5), FARIDABAD
In the result, the appeal filed by the assessees is allowed
ITA 6170/DEL/2019[2015-16]Status: DisposedITAT Delhi12 Feb 2021AY 2015-16
Bench: Shri R.K. Pandaassessment Year: 2015-16 Mantram Commodities Pvt. Ltd., Vs Ito, Ff-9, Vishnu Place, Ward 1(5), Near Neelam Flyover, Faridabad. Sector-20B, Faridabad. Pan: Aahcm9517C (Appellant) (Respondent) Assessee By : Shri Rajiv Saxena, Advocate Revenue By : Shri Rovin Rawal, Addl.Cit Date Of Hearing : 21.01.2021 Date Of Pronouncement : 12.02.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Orders Dated 29Th March, 2019 Of The Cit(A), Faridabad, Relating To Assessment Year 2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Private Limited Company & Has Not Conducted Any Business Activity During The Relevant Assessment Year. It Filed Its Return Of Income On 10Th September, 2015 Declaring The Total Income At Rs.1,64,750/-. The Ao, During The Course Of Assessment Proceedings, Noted That The Assessee Company Has Received Rs.42 Lakhs As Share Premium During The Year On Issue Of 60000 Shares At A Premium Of Rs.70/-. He Noticed That The Shares Have Been Allotted On 31St March, 2015 To The Following Companies/Persons:- Name Of Person, No. Of Nominal Premium Amount Of Total Amt. Paid Shares Value Per Per Premium(Rs.) Including Share(Rs.) Share(Rs.) Premium(Rs.) Gangashiv 33125 10 70 2318750 2650000 Contractors Pvt. Ltd. 26875 10 70 1881250 2150000 Amar Shree Industries Pvt. Ltd. Total 60000 4200000 4800000
For Appellant: Shri Rajiv Saxena, AdvocateFor Respondent: Shri Rovin Rawal, Addl.CIT
Section 11USection 133(6)Section 143(3)Section 56(2)(viib)Section 68
68 of the Act, no separate addition is being made u/s 56(2)(viib) of the Act. While holding so, he rejected the calculation made by the assessee in terms of section
