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

Last updated: 13 October 2020

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

IN THE INCOME TAX APPELLATE TRIBUNAL
“C” BENCH : BANGALORE
BEFORE SHRI N V VASUDEVAN, VICE PRESIDENT
AND SHRI B R BASKARAN, ACCOUNTANT MEMBER
ITA No.2534/Bang/2019
Assessment year: 2016-17

The Deputy Commissioner of Income Tax,Circle 1(1)(1),Bangalore.
APPELLANT

Vs.

M/s. Antariksh Softech P. Ltd.,No.11/1, KHR House Palace Road,Bangalore – 560 052.
PAN: AAHCA 1836G
RESPONDENT

APPELLANT RESPONDENT
Appellant by : Shri Pradeep Kumar, CIT(DR)(ITAT), Bengaluru.
Revenue by : Smt. Sheetal Borkar, Advocate
Date of hearing : 01.10.2020
Date of Pronouncement : 09.10.2020

O R D E R

Per N.V. Vasudevan, Vice President

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:-

“1. The order of learned CIT(Appeals) in so far as it is prejudicial to the interest of revenue, is opposed to law and the facts and circumstances of the case.

2. The ld. CIT(A) erred in deleting the addition of Rs.6,40,18,500/- u/s. 56(2)(vii), the excess amount of share premium received on allotment of equity shares.

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