THE DCIT-CENTRAL-2, INDORE vs. M/S. KALYAN TOLL INFRASTRUCTURE LTD., INDORE

In the result all the grounds raised by Revenue in the case of

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

36 of the order that the source of share capital was the inflation of project cost and therefore no seperarate addition was warranted on account of share capital. The Honourable ITAT while deciding the appeal filed by the respondent, accepted the peak theory and rejected the contentions of the AO on internal page 38 holding that the observations formed