Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (9) TMI 163 - HC - Income TaxShare application money - received by the assessee company from alleged bogus shareholders - Non-filing of bank statement by the share applicant – Held that: - Bank statement is a document in the possession of the share applicant and not in the possession of the assessee - no reason to sustain the addition made by the Assessing Officer - share application money cannot be regarded as undisclosed income of the assessee under Section 68 of the Act, 1961 - appeal, being bereft of merit, is dismissed.
|