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When revenue failed to show any legal infirmity in order of ITAT, no question of law arises in relation to Sec. 68
Case Law Details
- Case Name
- CIT Vs Five Vision Promotors Pvt. Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Brief of the case:
AO made addition on account of share application money u/s 68 which was confirmed by the CIT. On appeal ITAT held that assessee has proved identity, genuineness & creditworthiness of the investors. On further appeal to HC it was held that revenue failed to discover any legal infirmity out of the order of ITAT and it cannot be said that assessee failed to prove identity, genuineness and creditworthiness of the investors.
Facts of the case:
Assessee is a company with the object of running a shopping mall. The business of the Assessee had not commenced ti...
