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2023 (5) TMI 359 - AT - Income TaxAddition u/s 68 - Unexplained share capital and share premium - HELD THAT:- We find that the assessee has received share capital and share premium, but it did not submit any detail justifying this transaction demonstrating the identity of the applicants as well as their creditworthy and genuineness of the transaction. It has not submitted anything before the ld. CIT(Appeals), therefore, it is very difficult for the Tribunal to discuss the details. There are very limited information available on the record. There is no denial to the fact that fresh capital has been introduced by the assessee and it failed to explain the source of such capital with the plausible evidence. Therefore, we do not have any hesitation in confirming the finding of the revenue authorities - Appeal of the assessee is dismissed.
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