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2012 (2) TMI 529 - HC - Income TaxAddition u/s 68 - bogus investors - Held that:- The finding recorded is essentially of fact and particularly that the persons who are alleged to be the bogus investors have been traced and identified. Once the authorities have got all the details, including the names and addresses of the shareholders, their PAN/GIR number, so also the name of the Bank from which the alleged investors received money as share application, then, it cannot be termed as "bogus". Tribunal's finding that there is no justification in the addition made under Section 68 of the Income Tax Act, 1961 neither suffers from any perversity nor gives rise to any substantial question of law.
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