Addition u/s 68 - bogus share capital and share premium - The ...

Section 68 Allegations Dismissed: No Evidence of Bogus Share Capital in Assessee's Financial Records, Initial Burden of Proof Met.

June 4, 2019

Case Laws Income Tax AT

Addition u/s 68 - bogus share capital and share premium - The financial statements, Annual Reports as well as bank statements of the all the investors was made available to Ld. AO and nothing on record suggest that any cash was exchanged/transacted between the assessee and the investor entities - Notices issued u/s 133(6) have been responded to - assessee has duly discharged the initial onus - no addition

View Source

← Previous Next →

Addition u/s 68 - bogus share capital and share premium - The ...

Section 68 Allegations Dismissed: No Evidence of Bogus Share Capital in Assessee's Financial Records, Initial Burden of Proof Met.

June 4, 2019

Case Laws Income Tax AT

You may also like:

Unexplained cash credits u/s 68 were added due to assessee's failure to discharge onus regarding bogus share capital including premium receipts. Despite filing...

Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

Bogus share transactions involving abnormal price rise in penny stock shares - Assessee produced evidence of share purchase, existence in demat account - AO failed to...

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...

Addition u/s 68 - If the assessee is unable to explain the alleged cash credit and consistent escaped, the provisions of section 68 of the Act are rightly invoked by...

Addition u/s 68 as accommodation entries - long term capital gain on sale of shares as sham/bogus transaction - Mere suspicion cannot be a ground for treating the...

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...

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...

Addition u/s 68 - Bogus LTCG on the sale of equity shares - The sale proceeds of such shares was credited to the bank account of the assessee. A copy of bank account...

Additions on account of Bogus unsecured loans and bogus share capital money - Revenue argued that the unsecured loan from entities controlled by a hawala operator should...

Addition of bogus share capital u/s 68 - rotation of money - the contention of the assessee that there was rotation of money and the much lesser amount of bogus share...

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

The ITAT allowed the assessee's appeal. The assessee furnished all evidence proving identity, creditworthiness of investors, and genuineness of transactions regarding...

Addition u/s 68 - unexplained cash credits of share capital and security premium - assessee has no plausible explanation to explain the source of alleged sum of share...

Bogus LTCG - Addition u/s 68 - bogus penny stock transaction - suspicion v/s facts - disallowing the exemption u/s 10(38) - The assessee has demonstrated with...

Quick Updates: