Assessment u/s 153A - Unexplained cash credit u/s 68 - The ...

Share Application Money Addition Upheld: Section 153A Assessment Valid Despite No New Incriminating Material Found in Search.

May 14, 2019

Case Laws     Income Tax     AT

Assessment u/s 153A - Unexplained cash credit u/s 68 - The addition of share application money was on the basis of Bank account found in search - the said Bank account as well as the transactions reflected therein were duly disclosed by the assessee in its return of income originally filed - addition sustainable being outside the scope of section 153A and not based on any incriminating material found

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