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2019 (6) TMI 142 - AT - Income TaxAssessment u/s 153A - search and seizure action u/s 132 - addition regarding share capital including share premium u/s 68 - HELD THAT:- Since the addition in the instant case was not based on any incriminating material found during the course of search, but, on the basis of balance sheet filed by the assessee in the return of income, therefore, we hold that the addition made by the Assessing Officer u/s 68 on account of increase in share capital which has been upheld by the CIT(A) is not justified. Accordingly, the order of the CIT(A) is set aside and the Assessing Officer is directed to delete the addition. see MOON BEVERAGES LTD. AND HINDUSTAN AQUA LTD. VERSUS ACIT, CENTRAL CIRCLE- 15, NEW DELHI [2018 (6) TMI 471 - ITAT DELHI] - Decided in favour of assessee.
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