Efthalia Mercantile Pvt. Ltd. (Formerly Nandan Mercantile Pvt. Ltd.), Kolkata Vs D.C.I.T.,Circle-8(2), Kolkata

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Last updated: 19 October 2020
Quick Summary
This case involves two appeals by Efthalia Mercantile Pvt. Ltd. concerning assessment years 2011-12 and 2012-13. The company is challenging the tax authorities' decision to treat significant amounts related to share application, share premium, and unsecured loans as unexplained cash credits. Additionally, disallowances under Section 14A of the Income Tax Act are being contested. The tribunal noted that the lower appellate orders were passed ex parte and lacked detailed discussion of the evidence presented.

Court :
ITAT Kolkata

Brief :
These assessee’s two appeals for assessment years 2011-12 & 2012-13 arise against the Commissioner of Income Tax (A) - 15, Kolkata & Commissioner of Income Tax (A) - 3, Kolkata’s separate orders; dated 28.03.2019 & 21.03.2017, passed in Case No.286/CIT(A)-15/18-19/Cir-8(2)/R&T/KOL & 729/CIT(A)- 3/DCIT,C-8(1)/Kol/15-16 involving proceedings u/s 147/143(3) & 143(3) of the Income Tax Act, 1961 respectively; in short ‘the Act’.

Citation :
I.T.A Nos.1418&619/Kol/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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