Case Law Details
Case Name : ITO Vs M/s. Sankalp Corporate Services Pvt. Ltd. (ITAT Mumbai)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
ITO Vs M/s. Sankalp Corporate Services Pvt. Ltd. (ITAT Mumbai)
Conclusion:
Addition under section 68 made by AO of the entire share capital and premium received during the year on the basis of negative observation about availability of funds with share applicant was unjustified as the share applicant was the sister concern of assessee, from whom similar share application with premium were received in the earlier year and the balance sheet of the share applicant showed ample source of funds.
Held:
AO made addition of the entire share capital and premium received during the year u/s 68, trea...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
