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2006 (4) TMI 93 - HC - Income TaxCash credits - Amount received as share application money - Assessing Officer added the said amount to the taxable income of the assessee under section 68 on the ground that the identity of the subscribers had not been established – Commissioner deleted the additions holding that assessee had satisfactorily established the identity of the share subscribers - Commissioner of Income-tax (Appeals) has also considered the provisions of sections 72, 75 and 77 of the Companies Act and has also taken into consideration the details furnished by the assessee before the Assessing Officer including the certificate of incorporation of subscribers, copies of their bank statements and copies of their assessment orders as well as the copies of their audited accounts – finding recorded by the Commissioner and the Tribunal are findings of fact - no substantial question of law arise
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