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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)
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

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Author Bio

Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4088
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

My Published Posts

Recorded Sales Cannot Be Taxed Again U/s 68; Additions Based Only on Third-Party Statement Deleted On-Money Addition for Flat Purchase Deleted; Builder’s General Statement Alone Not Enough Bogus Purchase Cases: Only Profit Element Taxable; 4% GP Addition Upheld Assessment on Amalgamated Company Held Void for Lack of Jurisdiction Penalty for Non-Compliance Deleted as Venial Breach Where Assessments Accepted Returned Income View More Published Posts

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