The brief facts of the case are that the assessee company is a Non Banking Finance Company (NBFC) and during the year under consideration was engaged in the business of share broking and sub-broking, finance etc. The assessee filed its return of income declaring income of Rs. 3,96,532/-. The case was selected for scrutiny through CASS and the assessment was completed u/s 143(3) of the Income Tax Act, 1961 (hereinafter called 'the Act') vide assessment order dated 31-03-2015 at an income of Rs. 1,60,96,530/- after making addition of Rs. 1,57,00,000/- (Rs. 1,00,00,000/- on account of share capital and premium and Rs. 57,00,000/- on account of unconfirmed unsecured loans).