Unexplained credits u/s 68 - share application money - share ...

AO Fails to Prove Extra Premium on Shares: No Income Addition u/s 68 After Share Applicants Verified.

August 2, 2019

Case Laws Income Tax AT

Unexplained credits u/s 68 - share application money - share applicants are traceable by way of PAN, ITRs, Bank accounts and are also responding to the notices u/s. 133(6) then it is for the AO to bring on record the material in the form of extra premium paid to the assessee for the shares and that the case was deposited prior to issuance of cheques - nothing has been done - no addition

View Source

← Previous Next →

Unexplained credits u/s 68 - share application money - share ...

AO Fails to Prove Extra Premium on Shares: No Income Addition u/s 68 After Share Applicants Verified.

August 2, 2019

Case Laws Income Tax AT

You may also like:

Addition u/s 68 - assessee submitted all the necessary details in support of the share applicant and share premium receipt - The A.O. has not pointed out any defect in...

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...

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

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 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

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...

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...

Addition u/s 68 - increase in share capital and share premium - As source of source is proved by the assessee in the instant case though the same is not required to be...

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...

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

Addition u/s 68 - Unexplained share capital - both the nature & source of the share application and premium received by it was fully explained by the assessee. -...

Unexplained share application and Share Premium - Addition u/s 68 - The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the...

Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was...

Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown...

Addition of bogus share application money u/s 68 - explanation to source of the source - with effect from assessment year 2013-14 section 68 of the Act has been amended...

Quick Updates: