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H.L.G. Memorial Hospital (P) Ltd., ... vs Acit, Circle - 2, , Asansol on 19 June, 2019
M/S Urmila Properties Pvt. Ltd., Howrah vs I.T.O.,Ward-6(4), Kolkata on 20 September, 2022
I.T.A. No.33/Kol/2020
Assessment Year: 2012-13
M/s Urmila Properties Pvt. Ltd
Not only that there were number of judgments on the issue that when the
identity of the share capital contributors was not disputed, no addition can be
made in the hands of the company receiving subscriptions. Even the Co-
ordinate bench of the ITAT in the case of ChichingaFatika Cold Storage Pvt
Ltd, Kol. ITA No.1279/Kol/2008 dated 3rd March, 2009 which was even an ex
parte order accepted the share capital on the ground that when the identity of
the contributors was not disputed, the same cannot be added. Reliance is also
placed on various judgment which includes Sancheti Projects Pvt Limited
(Kolkata High Court) in ITA No.140 of 2011 (G.A. 1574 of 2011), M/s. Hotel
Luxor Pvt Ltd Vs. ACIT, Circle-1, Asansol, in ITA No. 813-815/Kol/2004
dated 6.1.2006, M/s. P.H.U Enterprise Pvt Ltd. Vs. ACIT, Circle-1, Asansol, in
IT(SS)A No. 37/Kol/2008 (Block Assessment) dated 3.3.2009. Needless to
mention that there are hundreds of judgements following the judgements of
Lovely Exports.
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