This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Pune: Reopening After 4 Years Invalid When Share Premium Details Already Disclosed – Rs. 30 Cr Addition u/s 68 Deleted
Case Law Details
- Case Name
- ACIT Vs Prasanna Purple Mobility Solutions Private Limited (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
ACIT Vs Prasanna Purple Mobility Solutions Private Limited (ITAT Pune)
ITAT Pune: Reopening After 4 Years Invalid When Share Premium Details Already Disclosed – Rs. 30 Cr Addition u/s 68 Deleted
The assessee company Prasanna Purple Mobility Solutions Pvt. Ltd. issued equity shares during AY 2011-12 at a premium of ₹1,584 per share, receiving about ₹30 crore from investors including Rainbow Ventures Ltd. (Mauritius) and Ambit Pragma Fund. The AO reopened the completed assessment and treated the entire share capital and premium as unexplained cash credit u/s 68, alleging l...
Author Info
