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Income Tax - Highlights / Catch Notes

Home Highlights February 2022 Year 2022 This

Addition u/s 68 - addition on account of share application money ...

Case Laws     Income Tax

February 9, 2022

Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during the course of re-assessment proceedings. Notices u/s 133(6) of the Act were issued to the above share applicants which were duly replied to by the share applicants. So far as the share application money received from remaining companies is concerned, we find that the assessee filed ample documentary evidences which discharged the primary onus cast upon it u/s 68 - AT

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