Case Law Details
Case Name : Ritebane Agritech Solution Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Mumbai
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Ritebane Agritech Solution Vs DCIT (ITAT Mumbai)
Share Capital & Loan Treated as Bogus: Appeals Dismissed for Complete Failure to Prove Creditworthiness and Genuineness
The assessee companies issued shares at a huge premium based on a valuation report that relied on “confirmed project orders”. However, as noted from the project table reproduced in the order (page 4), most of those projects had not even commenced and only one project was under implementatio
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