Home Highlights July 2013 Year 2013 This

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1. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

2. Forfeiture of amount - Addition of amount forfeited by assessee on share warrants u/s 43(5) - amount received on account of forfeiture of amount due to non payment...

3. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

4. Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

5. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

6. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

7. Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

8. Addition on account of interest paid on share application money - nature of expenses - revenue or capital - the amount received is for the requirements of working...

9. 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...

10. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

11. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

12. Addition u/s 68 - Share premium - Transaction in the nature of Capital Account - violation of the provision of Section 78(2) of the Companies Act, 1956 - The High court...

13. Payment of interest on share application money - Nature of expenditure - the assessee with an object to increase share capital has incurred expenses in the form of...

14. Addition u/s 56(2)(ix) - forfeited amount of application money collected on issuing shares against share warrants - The amount forfeited by the assessee out share...

15. Confirmation of additions on account of share application money - Unsecured loan – there have proper sources for the amounts invested in the company –the AO is directed...