Held that the assessee had filed all the documents to substantiate the identity, creditworthiness and genuineness of the share subscription. The source of source of the share subscription was also brought to the notice of the Assessing Officer. The revision order was quashed. (AY: 2016-17)
Lovely International Pvt. Ltd. v. ACIT (2021)90 ITR 52 (SN) (Kol.) (Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital and share premium-Identity and creditworthiness established-Revision order is held to be not sustainable. [S. 68]