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2017 (6) TMI 296 - AT - Income TaxAddition made in respect of share capital - Held that:- We find that all the payments were received by assessee through account payee cheques. Shares were allotted to the assessee on making payment through account payee cheque. The assessee has also followed proper returns before ROC. We also found that entire share application money was received by assessee through account payee cheques. The details filed with ROC with regard to allotment of shares were also filed before the lower authorities. It appears that without conducting full enquiry and without giving opportunity to cross-examine Mr. Mukesh M Choksi, the AO has made addition. We restore the matter back to the file of the AO for deciding afresh after making due enquiry and also giving opportunity to cross-examine Mr. Mukesh M Choksi on whose statement the AO has made the impugned addition.
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