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2016 (4) TMI 1412 - ITAT AHMEDABAD
Reopening of assessment u/s 147 - Addition u/s 68 - unexplained source of share application and share premium money - HELD THAT:- We are of the view that the facts dealt in the case of M/s Pankaj Enka P. Ltd. vs. DCIT [2015 (5) TMI 1227 - ITAT AHMEDABAD] are similar to the facts of the case of assessee, and therefore, in our opinion that assessee has been able to explain the source of share application and share premium money - Also we allow the grounds of assessee and quash the assessment framed u/s 143(3) r.w.s. 147. - Decided in favour of assessee.