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2012 (6) TMI 86 - AT - Income TaxUnexplained cash credit u/s 68 - share application money - held that:- assessee has discharged its onus, cast upon it. Even the identity of the share applicant is not disputed by the ld. Assessing Officer. Even otherwise, the ld. Assessing Officer has not brought any adverse material on record to prove otherwise. - Decided in favor of assessee. Application of section 50C on depreciate assets - held that:- provisions of section 50C were applicable to transfer of depreciable asset covered by section 50 and the capital gain arising from such transfer has to be computed by adopting the stamp duty valuation.
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