Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (4) TMI 432 - AT - Income TaxDisallowance of payment made to third partly by cheque - addition u/s 68 for payment made before incorporation of company - Held that:- There is a confusion about the date of payment and incorporation of the assessee company. As per facts undisputed and admitted by both the parties it is held that the assessee company was incorporated on 5.12.2006 and the legal existence of assessee company can only be considered from the date of incorporation i.e. 5.12.2006. - assessee as well as Ld. DR is also agreed that the impugned payment of ₹ 10,00,000/- was made on 23.10.2006 to the third entity by cheque. The controversy remains that whether the payment was made by assessee company out of books of accounts or the same was made by M/s B.L.Kashyap & Sons Ltd. or any other entity to the third party. - query need further verification - Matter remanded back - Decided in favour of assessee.
|