The Court : We have heard Mr. Tilak Mitra, learned standing counsel
appearing for the appellant/revenue and Mr. Pranit Bag, learned counsel for
the respondent/assessee.
The appeal is admitted on the following substantial questions of law :
a) Whether on the facts and in the circumstances of the case, the Ld.
Income Tax Appellate Tribunal was justified in law in deleting the
addition made u/s. 68 of the Income-tax Act, 1961 amounting to Rs.
55,00,000/- received by the assessee through a non-existent entity M/s.
Satyatej Vyapaar Private Limited ?
b) Whether on the facts and in the circumstances of the case, the Ld.
Income Tax Appellate Tribunal was justified in law in deleting the
addition made u/s. 68 of the Income-tax Act, 1961 based on the
submission of the assessee that the investing company changed its
address on record, without appreciating the fact that even on the date of
passing the order on 30.12.2017, the company address on the MCA
website was shown as Aloka House, 1st Floor, 6B, Bentinck Street,
Kolkata-700 001 ?