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The only ground of appeal of the assessee is against the action of the Ld. CIT(A) in confirming the addition of Rs. 16 cr. u/s. 68 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”) being the share capital and share premium received during the year.

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Sec. 68 of Income Tax Act, 1961—Cash Credit—SATYAM SMERTEX PVT. LTD. vs. Deputy CIt.[2020] 25 ITCD Online 072 (ITAT-KOLKATA)