Addition u/s 68 - share application money - when the identity, ...

August 20, 2019

Case Laws Income Tax AT

Addition u/s 68 - share application money - when the identity, creditworthiness and genuineness of the transaction was placed before the AO with documentary evidence, the onus shifted to AO to disprove the materials placed before him, without doing so, the addition made by the AO based on conjectures and surmises cannot be justified

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Addition u/s 68 - share application money - when the identity, ...

August 20, 2019

Case Laws Income Tax AT

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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...

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