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SFIO Report Alone Cannot Justify Massive ₹1000 Cr Addition: ITAT Remands
Case Law Details
- Case Name
- NKS Holdings Pvt. Ltd. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
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NKS Holdings Pvt. Ltd. Vs ACIT (ITAT Delhi)
SFIO Report Alone Cannot Justify ₹1000 Cr Addition: ITAT Remands for Commission Income Estimation- Accommodation Entry Allegation – Tribunal Restricts Taxation to Commission, Not Entire Share Capital- Reopening Upheld but Addition of Full Share Premium Quashed
Delhi Tribunal partly allowed the appeal of the Assessee by deleting the huge addition of ₹1000 crores made u/s 68 & remitting the matter to AO to compute only commission income as in similar cases.
Assessee had filed return declaring a small loss of ₹47,507/-. Subsequently, based o...
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