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Case Law Details

Case Name : Kalinga Conduits Electricables (P) Ltd. Vs PCIT (ITAT Delhi)
Related Assessment Year : 2010-11
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Kalinga Conduits Electricables (P) Ltd. Vs PCIT (ITAT Delhi)

We find, the case of the assessee was reopened for enquiring the alleged bogus share capital of Rs.40 lakhs received by the assessee from three companies, namely, M/s Victory Software Pvt. Ltd. – Rs.20 lakhs, Zenith Automotive Pvt. Ltd. – Rs.10 lakhs, and Humtum Marketing Pvt. Ltd. – Rs.10 lakhs. We find, the assessee, during the course of such re-assessment proceedings, have filed various details substantiating the identity and credit worthiness of the share

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