Under Pre-Amendment Law, No ‘Source of Source’ Proof Needed for Section 68

PCIT Vs Central Plastics Pvt. Ltd. (Delhi High Court) No ‘Source of Source’ proof required pre-amendment – Delhi HC ; Delhi High Court Dismisses Revenue’s Appeal – No Section 68 Addition on Share Premium; “Source of Source” Not Required for AY 2012-13 Assessee’s  return of income for the AY 2012-13   was picked up for scrutiny on account of large share premium received by  Assessee during the relevant period. AO observed that the Assessee had received share capital from three companies through banking channels. AO issued notices u/s 133(6) to the share applicants . Howeve...