Case Law Details
Case Name : ACIT Vs Double Plus Software Pvt. Ltd. (ITAT Delhi)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Delhi
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ACIT Vs Double Plus Software Pvt. Ltd. (ITAT Delhi)
Share Premium Row- Evidence Beats Suspicion: ITAT Delhi Drops Massive ₹190 Cr Bogus Share Capital Addition
The matter concerned a colossal addition of ₹190 crores made by AO u/s 68, in respect of share capital & premium received by Assessee during AY 2010-11.
Assessee had issued 19 lakh shares at ₹990 premium each, aggregating ₹190 crores. AO alleged that funds were routed through three group companies- Blessings Commercial Pvt. Ltd., Stephens Financial Services Pvt. Ltd., & Sayaji Marketing Pvt. Ltd.-using “& Co.” cro...
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