High Share Premium Not Correct Test for Section 68 Addition: Delhi HC

ACIT Vs Montage Enterprises Pvt. Ltd. (Delhi High Court)

Introduction: In a recent judgment, the Delhi High Court addressed the issue of making additions under Section 68 of the Income Tax Act based on charging a high premium. The case, ACIT Vs Montage Enterprises Pvt. Ltd., for Assessment Year 2007-08, highlights the importance of adhering to specific criteria when questioning additions under Section 68.

Detailed Analysis: The appeal before the court raised two main issues. Firstly,

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