Share capital addition deleted by ITAT Kolkata.

Share capital addition deleted by ITAT Kolkata.

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This is an appeal filed by the assessee for assessment year 2012-13 directed against the order of the Learned Commissioner of Income Tax(Appeals)-3, Kolkata [ in short the ld. CIT(A) ] passed u/s 143(3) of the Income Tax Act, 1961 [in short the Act].

2. The assessee is a company and is engaged in the business of manufacturing of granites slabs. It filed its return of income electronically on 28.09.2012 and declared total income of Rs. 53,12,552/-. The assessing officer completed assessment u/s 143(3) on 02.03.2015 determining total income at Rs. 2,56,75,060/-, inter alia, making an addition of Rs. 1,80,00,000/- u/s 68 of the Act. The assessing officer held as follows:



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