U/s 68 addition deleted - share premium not undisclosed income. Entry operator earning 0.5% commission on ₹40cr share capital.

Addition u/s 68 deleted - sum received towards share premium not treated as undisclosed income - assessee considered an entry operator, not engaged in actual business, earning commission income. Percentage of commission income estimated at 0.75% by CIT(A) considered high, reduced to 0.5% based on assessee's concession, applied on total share capital and premium of Rs. 40 crore. Assessee's cross-objection partly allowed. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X