Once source of funds is taxed in the hands of share applicant companies, it cannot be added as unexplained income in the hands of assessee company.
Explore the full text and detailed analysis of Shah Tracom Pvt. Ltd. Vs ITO case from ITAT Kolkata. Understand the implications, legal arguments, and outcomes in tax assessment disputes.
Explore ITAT Kolkata’s ruling on no addition for share capital & premium from group companies with common directors/shareholders. Detailed analysis & conclusion
ITAT Kolkata’s order in ITO Vs Indus Realty Pvt. Limited – Mere suspicion or disbelief on the part of Assessing Officer is insufficient to justify additions under Section 68. The identity, creditworthiness, and genuineness of transactions must be thoroughly evaluated and substantiated with concrete evidence.
Explore the detailed analysis of the ITO vs. RKB Services Pvt. Ltd. case by ITAT Kolkata. Learn about the implications for share capital additions under Section 68 of the Income Tax Act.
Mere reliance on statements without corroborative evidence and denying cross-examination rights cannot justify additions for share capital and share premium under Section 68
ITAT Delhi rules that Section 50C deeming provisions cannot be applied to leasehold rights in the Shivdeep Tyagi vs ITO case.
ITAT Chennai rules in favor of Revathi Modern Rice Mill, determining that excess stock is assessable as business income, not unexplained investment under Sec. 69B.
Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can’t be invoked solely on improper inquiry allegations by AO.
Detailed analysis of the ITAT Delhi order on Isha Mago vs ADIT, focusing on the appeal regarding disallowance of foreign tax credit due to late filing of Form 67.
