Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2020 Year 2020 This

Addition u/s 68 - share application money & share premium - When ...


Section 68 Addition: Non-Existent Company Can't Rely on Documentation for Share Premium and Application Money Defense.

August 7, 2020

Case Laws     Income Tax     AT

Addition u/s 68 - share application money & share premium - When it has been categorically proved that there is no physical existence of the said company at the given address the submission of the assessee that his submissions regarding papers submitted in this regard should be given precedence over the actual fact about the non-existence of the said party is absolutely unsustainable - AT

View Source

 


 

You may also like:

  1. The ITAT held that the AO failed to conclusively establish that the investing companies were non-existent to invoke Section 68 for addition of share capital. Regarding...

  2. 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...

  3. 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...

  4. Addition u/s 68 - Share premium - Transaction in the nature of Capital Account - violation of the provision of Section 78(2) of the Companies Act, 1956 - The High court...

  5. 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...

  6. 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...

  7. Addition made on share premium u/s.68 - share premium received from its holding companies namely situated at Hongkong, who are non resident entities - the said share...

  8. 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...

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

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

  11. Addition u/s 68 - non independent application of mind - accommodation entries - share application money - Mere non production of Director of said share holder company...

  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. 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...

  14. Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

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

 

Quick Updates:Latest Updates