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2014 (2) TMI 264 - AT - Income TaxWhether share application money received is bogus - Held that:- The assessee has discharged its onus of establishing the identity and credit-worthiness of "SSRCWL" - The assessee has submitted certificate of incorporation, commencement of business, memorandum of association, articles of association and annual report of "SSRCWL" - The AO should have made further inquiries and should have given the copy of statement of Shri Narendra Shah to the assessee along with opportunity to the assessee to cross-examine Shri Narendra Shah - Merely on the basis of statement of a third party, the addition could not be made in the hands of the assessee without allowing opportunity to cross-examine the said person - Decided in favour of assessee.
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