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Income Tax - Highlights / Catch Notes

Home Highlights December 2017 Year 2017 This

Addition u/s 68 - genuineness of the transaction - share capital ...

Case Laws     Income Tax

December 25, 2017

Addition u/s 68 - genuineness of the transaction - share capital and share premium - identity and creditworthiness of the investors - the genuineness of the transaction - several other Companies having their Registered Offices at the same address - revenue failed to prove introduction of unaccounted cash/funds in the form of share capital in these companies - no addition - AT

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  2. Non-proving identity, creditworthiness, and genuineness of share premium received cannot be treated as unexplained income if sufficient documentary evidence is provided....

  3. Unexplained share capital and premium received by assessee company was its own unaccounted money flowing back in form of premium on share allotment. Assessee filed...

  4. Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the...

  5. Addition u/s 68 - bogus share capital & share premium - The assessee failed to prove that the transactions of share application money is genuine and the creditworthiness...

  6. Addition u/s 68 - Bogus share capital and share premium received. The assessee failed to prove the identity and creditworthiness of the subscriber companies and the...

  7. Addition u/s 68 - addition in share capital and share premium, identity and creditworthiness of the share holders, valuation report - Since no cash was involved in...

  8. Addition u/s 68 - share capital and share premium - allegation regarding identity and creditworthiness - non appearance of director - addition cannot be sustained merely...

  9. Addition being share capital and premium by invoking the provisions of 68 - no proof of identity and creditworthiness of all the new shareholders as well genuineness of...

  10. Addition u/s 68 - creditworthiness of investor unexplained - the documents submitted to prove the genuineness of transaction are itself from to be malaises created with...

  11. Addition u/s 68 - share capital and share premium - no enquiries were conducted by the ld AO u/s 133(6) and/or 131 from the share subscribers - the assessee by producing...

  12. Addition u/s 68 - unexplained share premium and share capital - the assessee has substantially provided materials to prove the genuineness of the share holders apart...

  13. The assessee company received share capital and share application money from 13 share applicants. The Assessing Officer (AO) made an addition u/s 68, alleging that the...

  14. Revision u/s 263 - addition made u/s. 68 - Assessee had discharged the onus upon it about the identity creditworthiness and genuineness of the share capital and premium...

  15. Reopening of assessment u/s 147 for addition u/s 68 on share premium received by petitioner from Gold Singapore was challenged. Reassessment proceedings initiated...

 

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