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2012 (12) TMI 595 - ITAT LUCKNOWAddition u/s 68 as cash credit – Share application money – AO has instituted enquiry u/s 133(6) from the share applicant’s - Held that:- Following the decision in case of Orissa Corporation Pvt. Limited (1986 (3) TMI 3 - SUPREME COURT) that AO did not pursue the matter further with the share applicants nor required the assessee to produce them or further material in that regard, it has to be accepted that the appellant has discharged the burden that lay upon him u/s 68. Issue decides in favour of assessee Prior period expense – Disallowance of expenses relating to earlier years – Held that:- Any reference to the return of income or computation filed with the return of income showing claim made for deduction of expenses in the impugned year nor did he make verification of the facts himself. Therefore issue remand back to AO
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