Case Law Details
Case Name : Modern Malleables Limited Vs DCIT (ITAT Kolkata)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Kolkata
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Modern Malleables Limited Vs DCIT (ITAT Kolkata)
Conclusion: Addition made u/s. 68 only on the basis of two statements which could not stand the scrutiny of law, was not justified and therefore, the addition could not be sustained as per law.
Held: AO got information from the Investigation Wing pursuant to search operation conducted at the premises of one, Mr. A and Mr. J at Kolkata. A had confessed that he and Mr. J were entry operators who control penny/shell companies, which were e
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