Dismissing the appeal of the assessee the Tribunal held that the assessee has not produced any material during assessment proceedings to prove genuineness of share capital issued at premium. Revision order is held to be valid. (AY. 2014-15)
Rissala Décor (P) Ltd. v. PCIT (2020) 186 DTR 73 / 203 TTJ 521(Delhi)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limitation–Cash credits–Share capital–No material was placed during assessment proceedings to prove genuineness of share capital issued at premium-Revision order is held to be valid. [S. 143(3), 153(1)]