Case Law Details
Case Name : Divya Electronics Pvt. Ltd. Vs ITO (ITAT Kolkata)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Kolkata
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Divya Electronics Pvt. Ltd. Vs ITO (ITAT Kolkata)
Share Capital Addition Deleted Despite Non-Appearance of Subscribers: Section 68 Cannot Be Invoked on Presumptions
The Kolkata Bench of the ITAT allowed the assessee’s appeal for AY 2012-13 and deleted major additions made under Section 68 and on account of alleged inflated expenses.
On the share capital issue, the Tribunal held that the addition of ₹55 l
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