Addition u/s. 68 unsustainable as burden duly discharged by filing required documents

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

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