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2019 (1) TMI 267 - AT - Income TaxUnexplained share capital u/s 68 - CIT-A deleted the addition - Held that:- We find no merit in Revenue’s instant grievance. It has come on record that the Assessing Officer’s remand report filed during the course of lower appellate proceedings had found assessee’s impugned share capital / premium against the allotment of its equity shares to be very much legally in order. We have ourselves perused the ITO ward-6(1) Kolkata remand report in question forming part of case file to this effect. We conclude in the peculiar clinching factual backdrop that the Revenue cannot be held to be an aggrieved party once CIT(A) has deleted the impugned addition based on Assessing Officer favourable remand report. As decided in Smt. B. Jayalakshmi vs. ACIT [2018 (8) TMI 208 - MADRAS HIGH COURT] holds in identical facts that the Revenue is not entitled to maintain appeal in these facts and circumstances. We therefore decline Revenue’s sole substantive grievance. - decided against revenue
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