This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Addition u/s 68 unsustainable as genuineness, identity & creditworthiness of creditors proved
Case Law Details
- Case Name
- Vachitra Builders Pvt Ltd Vs ITO ( ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Vachitra Builders Pvt Ltd Vs ITO ( ITAT Delhi)
ITAT Delhi held that addition towards unexplained credits under section 68 of the Income Tax Act unsustainable as genuineness, identity and creditworthiness of the creditors proved.
Facts- The assessee company engaged in the business of civil construction filed its return of income on 27.09.2015 for the assessment year 2015-16 declaring loss of Rs.46,247/-. The assessment was completed u/s. 143(3) of the Act on 12.12.2017 determining the income of the assessee at Rs.4,62,53,753/- by making an addition of Rs.4,63,00,000/- u/s. 68 of the Act.
Notabl...
Author Info
