Valencia Nutrition Limited (earlier known as Valencia Nutrition Private Limited), Bangalore Vs. The Deputy Commissioner Of Income Tax, Circle- 7(1)(2), Bangalore

Last updated: 13 October 2020

Court :
ITAT Bangalore

Brief :
Both the appeals filed by the assessee are directed against separate orders passed by Ld. CIT(A)-7, Bengaluru and they relate to the assessment years 2015-16 & 2016-17 In both the appeals, the assessee is challenging the decision of Ld. CIT(A) in confirming the addition of excess share premium made u/s 56(2)(viib) of the Act.

Citation :
ITA Nos.473 & 474/Bang/2020

IN THE INCOME TAX APPELLATE TRIBUNAL
“A’’BENCH: BANGALORE
BEFORE SHRI GEORGE GEORGE K., JUDICIAL
MEMBERAND
SHRI B.R. BASKARAN, ACCOUNTANT MEMBER

ITA Nos.473 & 474/Bang/2020
Assessment Year: 2015-16 & 2016-17

M/s. Valencia Nutrition Limited (Earlier known as Valencia Nutrition Pvt. Ltd.) D.No.134, 6th Main 1st Block Banashankari 3rd Stage Bangalore-560 085 PAN NO : AAECV3892Q
APPELLANT

Vs.

Deputy Commissioner of Income-tax Circle-7(1)(2) Bangalore
RESPONDENT

Appellant by : Shri B.R. Sudheendra, A.R.
Respondent by : Shri Manjeet Singh, D.R.
Date of Hearing : 06.10.2020
Date of Pronouncement : 09.10.2020

O R D E R

PER B.R. BASKARAN, ACCOUNTANT MEMBER:

Both the appeals filed by the assessee are directed against separate orders passed by Ld. CIT(A)-7, Bengaluru and they relate to the assessment years 2015-16 & 2016-17 In both the appeals,the assessee is challenging the decision of Ld. CIT(A) in confirming the addition of excess share premium made u/s 56(2)(viib) of the Act.
2. The appeal filed by the assessee for assessment year 2015-16 is barred by limitation by 609 days. The assessee has filed a petition requesting the bench to condone the delay.

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