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TMI Blog2023 (2) TMI 559X X X X Extracts X X X X X X X X Extracts X X X X ..... tigation. We fail to understand, as to how the assessee filed the appeal against orders of the authorities below but not interested in prosecuting the appeal before the revenue authorities and also before the Tribunal. There is nothing on the record which can demonstrate the genuineness of the transactions or the identity and creditworthiness of the alleged share applicant who have contributed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Act, 1961 ( the Act ), for Assessment Year 2012-13. 2. The assessee has taken eleven (11) grounds of appeal. However, its substantial grievance is that the ld. CIT(A) has erred in confirming the addition of Rs.10,01,00,000/- which was added by the Assessing Officer with the aid of Section 68 of the Act on account of bogus share capital as well as premium. Similarly, in the second fold, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee, after hearing the ld. D/R. 4. Brief fact of the case are that the assessee has filed its return of income on 16/12/2012 electronically declaring total income of Rs.2,100/-. Its case was selected for scrutiny assessment and notice u/s 143(2) of the Act was issued and served upon the assessee. On scrutiny of the accounts it was revealed to the Assessing Officer that, the assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to four occasions, no one came present. The ld. First Appellate Authority has dismissed the appeal by observing that the assessee has failed to produce any new material to buttress the appeal and to challenge the assessment order. 6. With the assistance of the ld. D/R, we have gone through the records. After perusal of the record, we are of the view that the assessee is a paper company without ..... X X X X Extracts X X X X X X X X Extracts X X X X
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