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2016 (3) TMI 1073 - AT - Income Tax
Unexplained share application money - Held that:- In the light of the factual position which is not disputed by the revenue, it cannot be said that the identity of the share applicants remained not proved by the assessee. Non production of directors of the investor company for examination by the AO it cannot be held that the identity of a limited company has not been established. For the reasons given above we uphold the order of CIT(A) and dismiss the appeal of the revenue. - Decided in favour of assessee