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Share Capital Call-Money ₹2.10 Cr Deletion u/s 68; ITAT Upholds Genuineness
Case Law Details
- Case Name
- JSM Oilfields Services Pvt. Ltd. Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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JSM Oilfields Services Pvt. Ltd. Vs DCIT (ITAT Delhi)
Share Capital Call-Money Addition Deleted— Statement Not Supplied or Cross-Examined; Identity, Creditworthiness & Genuineness Proven; Ad-hoc Personal-Use Disallowance Also Deleted
JSM Oilfields Services Pvt Ltd appealed against the order of CIT(A)/NFAC dated 31.07.2024, wherein the CIT(A) sustained an addition of ₹2,10,20,000 u/s 68 relating to call-money received on shares originally allotted in earlier years, and partly upheld an ad-hoc disallowance of ₹2,12,581 towards alleged personal expenses.
The Tribunal ...
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