Addition u/s 68 unsustainable as documents supporting genuineness of share capital submitted

SVM Builders Pvt. Ltd. Vs DCIT (ITAT Indore)

Held that addition u/s 68 unsustainable as all the necessary documentary evidences in support of genuineness of share capital submitted by the assessee.

Facts-

Post search operations, AO framed the assessment on 30-01-2015 u/s. 153A r.w.s. 143(3) of the Act determining the total income of the assessee at Rs.7,50,00,000/- as against the Returned Income of Rs. Nil thereby making

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