ITAT on Assessment of share capital/ premium as unexplained cash credit

Priyatam Plaschem Pvt. Ltd Vs ITO (ITAT Delhi) In this case ITAT explains  Law on whether share capital/ share premium received by a Company from investors can be assessed as ‘unexplained cash credit’  in the light of judgements of the Courts and Tribunal. In the case in hand Considering the facts of the case, in the light of material on record and the above decisions, it is clear that assessee produced sufficient documentary evidence before A.O. at the assessment as well as appellate stage to prove ingredients of Section 68 of the I.T. Act. The A.O. however, did not make any fur...