AGRAWAL INFRABUILD PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, RAIPUR
In the result, both appeals of the assessee are allowed
ITA 10/RPR/2020[2013-14]Status: DisposedITAT Raipur30 Mar 2023AY 2013-14
Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.10 & 11/Rpr/2020 (ननधाारण वषा / Assessment Year :2013-2014 & 2014-2015) Agrawal Infrabuild Private Limited, Vs Acit, Central Circle-Ii, Raipur 1St Floor, V.R.Plaza, Bilaspur Pan No. :Aafca 6636 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..
For Appellant: Shri Sumit Nema & Gagan Tiwari, AdvsFor Respondent: Shri Debashish Lahiri, CIT-DR
Section 153A(1)Section 68
bogus share application money u/s 68. The addition made by the A.O. and confirmed by by Ld CIT-A, were unjustified,
unwarranted and uncalled for.
9. In continuation, Ld AR further drew our attention to the submission
of the assessee before the Ld AO during the post search assessment
proceedings submitted on 13.11.2018, the same is extracted as under