Case Law Details
Case Name : Tarmo IT Services Vs ACIT (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Delhi
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Tarmo IT Services Vs ACIT (ITAT Delhi)
Partner’s Capital Introduction Cannot Be Taxed in Firm’s Hands – Section 68 Addition Deleted
Delhi ITAT held that cash introduced by partners as capital cannot be assessed as unexplained cash credit u/s 68 in the hands of the partnership firm.
The AO had made an addition of ₹52,00,000 u/s
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