D.C.I.T CC - VII,KOLKATA, KOLKATA vs. M/S ANAND NIRMAN PVT LTD., KOLKATA

In the result, both the appeals of revenue are dismissed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी वसीम अहमद, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri Waseem Ahmed, Am]

sections 269SS and 269T of the Act would not be attracted. In this factual background, we do not find any infirmity in the order of the Ld. CIT(A) and the same is hereby upheld. This ground of appeal of revenue is dismissed. 9. Ground no. 6 is regarding the request

SOUTHERN ROAD CARRIERS LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 13(2), KOLKATA, KOLKATA

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.691/Kol/2022 Assessment Year: 2015-16 Southern Road Carriers Ltd..........................................................……Appellant P-9, New Cit Road, Central, Kolkata-700073. [Pan: Aaccs8837N] Vs. Dcit, Circle-13(2), Kolkata...........................……........……...…..…..Respondent Appearances By: Shri S. K. Pransukha, Fca, Appeared On Behalf Of The Appellant. Shri Vijay Kumar, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 15, 2023 Date Of Pronouncing The Order : August 11, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 03.11.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That The Cit(A) Has Erred Both In Law & On Facts By Confirming The Addition Of Rs.1,06,74,500/- Made By Assessing Officer For Treating Share Capital Issued As Unexplained Cash Credit U/S 68. 2. That The Cit(A) Has Like-Wise Erred Both The Law & On Facts By Confirming The Addition Made By Assessing Officer Amounting To Rs.14,60,000/- Being Differential Value Of Sale Consideration & Stamp Duty Value Of The Property Sold.

269T of the Act. Thereafter, the said shareholders paid back the amount through cheque towards share application money. That there was no doubt about the identity and creditworthiness of the shareholders. That the shareholders were close relatives of the Directors of the assessee company, who have duly confirmed the transactions. However, the Assessing Officer did not get satisfied with