Case Law Details
Case Name : Nimbus (India) Ltd. Vs DCIT (ITAT Delhi)
Related Assessment Year : 2013-14 & 2014-15
Courts :
All ITAT ITAT Delhi
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Nimbus (India) Ltd. Vs DCIT (ITAT Delhi)
The issue under consideration is whether the addition made by the AO under section 68 by considering the the amount received as unexplained share capital and premium is justified?
In the present case, during the course of assessment proceedings, the AO noted that the assessee had issued 8% non-cumulative preferential shares of its companies at a premium. Therefore, he asked the assessee to furnish the details of share capital/share premium and source of investment. To verify the source of the investment of the companies, the AO obtained information unde...
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its a good judgement