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2015 (12) TMI 764 - ITAT DELHIAddition under section 68 - CIT(A) deleted the addition - Held that:- The assessee by producing the address of the companies, PAN, confirmation from the share subscribers, ROC details that shares have been allotted to these companies, assessment order u/s 143(3) of one lender company for AY 2007-08 in which the AO has accepted the transaction, the bank details, bank statements, cheque number, etc., the assessee has discharged the preliminary onus on it to prove the identity, creditworthiness and genuineness of the transaction in question, the AO merely on suspicion and surmises cannot make addition u/s 68 of the Act, therefore, the ld. CIT (A) has rightly deleted the addition made u/s 68 of the Act - Decided in favour of assessee.
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