Addition u/s 68 - unexplained share application money - ...

Case Laws Income Tax

May 4, 2024

Addition u/s 68 - unexplained share application money - genuineness and creditworthiness of the share capital subscription challenged - ITAT deleted addition - The Delhi High Court upheld the decisions of the ITAT, which had favorably considered the assessee's appeals against the substantial additions imposed by the Assessing Officer. The court found that the ITAT had correctly applied the legal principles to the facts, which were thoroughly vetted and substantiated by adequate evidence. Thus, no substantial questions of law arose from the ITAT’s decisions, leading to the dismissal of the Revenue's appeals

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Addition u/s 68 - unexplained share application money - ...

Case Laws Income Tax

May 4, 2024

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