Section 68 Bogus share capital: Addition justified on failure to establish identity

J. J. Development Pvt. Ltd Vs. CIT (Calcutta High Court)

Section 68 Bogus share capital:  The appellant-assessee has referred to a judgment of this Court reported at 114 ITR 689 for the proposition that upon the identity of the person who has put in the money being established by the assessee, the onus is on the Revenue to discredit the explanation offered in terms of Please become a Premium member. If you are already a Premium member, login here to access the full content.