2023 (6) TMI 1362

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..... Court :- This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 4.1.2023 passed by the Income Tax Appellate Tribunal "B" Bench, Kolkata in ITAT/651/Kol/2020 for the assessment year 2012-13. The revenue has raised the following substantial questions of law for consideration : i) WHETHER on the facts and in the circumstances of .....

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..... sment proceedings, the assessee has furnished all details in respect of the share capital and share premium raised by the assessee besides the details of the investors by their submission dated 9.6.2014 in reply to the notice issued by the Assessing Officer under Section 142 of the Act dated 5.5.2014. The Tribunal also noted that the assssee had produced all documents, disclosed the names and addr .....

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..... The Tribunal further noted that in spite of such being the factual position, the only reason for making the addition in the hands of the assessee the director of the assessee company did not respond to the summons issued by the assessing officer under Section 131 of the Act. The correctness of this was also considered by the learned Tribunal and it was held that non appearance of the director can .....

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