Case Law Details
Case Name : ITO Vs Josan Deposits & Advances Pvt. Ltd (ITAT Kolkata)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Kolkata
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ITO Vs Josan Deposits & Advances Pvt. Ltd (ITAT Kolkata)
First of all we note that the assessee company had issued its shares during the year under consideration at premium to certain companies in lieu of the shares held by the said companies and thus there was no inflow of cash involved in these transactions. And this transactions were entered into in the books of account of the assessee company by way of journal entries and it did not involve any credit to the cash account. The learned CIT DR at the t
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