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ITAT Kolkata – ₹6.99 Cr Share Capital Addition u/s 68 Deleted; Identity & Genuineness Proved

Case Law Details

Case Name : Savera Commotrade Private Limited Vs ITO (ITAT Kolkata)
Related Assessment Year : 2009-10
Courts : All ITAT ITAT Kolkata
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Savera Commotrade Private Limited Vs ITO (ITAT Kolkata)

ITAT Kolkata – Addition U/s 68 on Share Capital & Premium of ₹6.99 Cr Deleted; Identity, Creditworthiness & Genuineness Proved

In Savera Commotrade Pvt Ltd (AY 2009-10), the AO treated share capital & share premium of ₹6.99 Cr received from 20 investors as unexplained cash credit u/s 68, alleging lack of compliance & non-appearance of directors. The assessee had furnished co

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Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4534
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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