Unsigned Mauritius Financials Sink Section 68 Defence – ITAT Restores ₹6.30 Crore Share Premium Addition

ACIT Vs Indure Private Limited (ITAT Delhi) Unsigned Mauritius Financials Sink Section 68 Defence – ITAT Restores ₹6.30 Crore Share Premium Addition The Delhi ITAT restored an addition of ₹6.30 crore made u/s 68 in respect of share capital and premium received by The Indure Private Limited from Mauritius-based investor Energen Infra (Mauritius) Ltd., holding that the assessee failed to discharge the primary onus of proving identity, creditworthiness and genuineness of the transaction. The AO had observed that the financial statements of the Mauritius entity were merely plain unsigned...