Case Law Details
Case Name : M/s Royal Rich Developers Pvt. Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Mumbai
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M/s. Royal Rich Developers Pvt. Ltd. Vs DCIT (ITAT Mumbai)
We are of the considered view that the onus is on the assessee company to bring on record the cogent evidences to prove the identity and creditworthiness of the share subscribers and genuineness of the transaction which in the instant case the assessee is not able to prove the same as per the facts emerging from the records and material before us as set out above and in our considered view in the instant case the transactions were nominal rather than real . The credi
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