Case Law Details
Case Name : ACIt Vs M/s Moolchand Steels Pvt. Ltd. (ITAT Delhi)
Appeal Number : ITA No. 2544/Del/2015
Date of Judgement/Order : 10/10/2018
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Delhi
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
ACIT Vs M/s Moolchand Steels Pvt. Ltd. (ITAT Delhi)
CONCLUSION –
No addition could have been made u/s 68 of the Act in view of the fact that no incriminating material was found during the course of search to which this impugned addition could be related.
FACTS –
During assessment proceedings AO observed that in FY 2005-06, 2000 shares were issued to M/s. Geefcee having face value of INR 100 per share at premium of INR 300 per share. Assessee was asked to establish genuineness of share capital and accordingly AO made addition of INR 80 Lakhs u/s 68.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.