Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (5) TMI 173 - ITAT MUMBAIUnexplained Share Application Money - addition u/s 68 - Held that:- The said 18 para of CIT (A)'s order is very specific about the addition of Rs. 1 Cr on account of Share Application Money and the same is silent about the other sum of Rs. 25 lacs, the Share Application Money interpreted by the Odyssey Corporation Limited. The said para was drafted in a singular form and it does not indicate both the Share Application Money subscribers. Therefore, this issue involving Odyssey Corporation Limited should be set aside to the files of the CIT (A) for specific adjudication after granting a reasonable opportunity of being heard to the assessee. Accordingly, the grounds raised by the assessee in this regard are allowed for statistical purposes.
|