Deputy Commissioner Of Income Tax,Circle- 1(1)(1), Bangalore Vs. M/s. Antariksh Softech Private Limited, Bangalore

Last updated: 13 October 2020
Quick Summary
The Income Tax Appellate Tribunal has heard an appeal from the Deputy Commissioner of Income Tax concerning M/s. Antariksh Softech Private Limited for the assessment year 2016-17. The revenue challenged the deletion of an addition amounting to Rs. 6,40,18,500/- made under Section 56(2)(vii) of the Income Tax Act, which related to excess share premium received on the allotment of equity shares. The CIT(Appeals) had previously deleted this addition.

Court :
ITAT Bangalore

Brief :
This appeal by the revenue is against the order dated 29.8.2019 of CIT(Appeals)-1, Bengaluru relating to AY 2016-17. The grounds of appeal raised by the revenue reads as follows:-

Citation :
ITA No.2534/Bang/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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