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Addition u/s. 68 unsustainable as burden duly discharged by filing required documents
Case Law Details
- Case Name
- DCIT Vs Vrindavan Tubes Ltd (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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DCIT Vs Vrindavan Tubes Ltd (ITAT Delhi)
ITAT Delhi held that addition under section 68 of the Income Tax Act treating share application money from undisclosed source unsustainable as burden duly discharged by filing confirmation, affidavit, copy of income tax return and bank statement of respective parties.
Facts- The assessee filed return of A.Y. 2011-12 declaring an income of Rs. 34,40,837/- and the same was processed u/s. 143(1) of the Act. Subsequently, an assessment order came to be passed u/s. 143(3) of the Act by making an addition of Rs. 1,71,00,000/- on account of share application m...
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