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Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Addition in the hands of a company can be made u/s 68 in its ...


Newly Incorporated Companies Subject to Section 68 Income Tax Act Inquiries in First Year.

April 14, 2017

Case Laws     Income Tax     HC

Addition in the hands of a company can be made u/s 68 in its first year of incorporation - The mere fact that the assessment year is the year of commencement of business of the assessee cannot insulate it from an inquiry directed towards steps contemplated u/s 68 of the 1961 Act - HC

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