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ITAT upholds addition of share capital & share premium under Section 68
Case Law Details
- Case Name
- Invorex Trading Pvt. Ltd. Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Kolkata
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Invorex Trading Pvt. Ltd. Vs ITO (ITAT Kolkata)
he ITAT Kolkata recently ruled on the dispute between Invorex Trading Pvt. Ltd. and the Income Tax Officer (ITO) concerning the addition of share capital and premium under Section 68 of the Income Tax Act, 1961. Despite numerous hearing dates, the appellant failed to attend, complicating the case further.
The tribunal, after reviewing the arguments presented by the respondent, affirmed the addition of share capital and premium. Central to their decision was the appellant’s non-appearance and their inability to establish key requirements out...
