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2018 (4) TMI 1355 - AT - Income TaxAddition u/s 68 - unexplained share premium received - admission of additional evidence - Held that:- As could be seen from the facts on record, there appears to be a valid reason for inability of the assessee in producing supporting documentary evidences to prove the genuineness of the share premium which the assessee has now sought to produce before us by way of additional evidences under rule 29 of the Rule, 1963. We are inclined to admit the additional evidences produced by the assessee, since, in our view such evidences may have a crucial bearing for deciding the issue in dispute. However, considering the fact that these additional evidences were not filed either before the Assessing Officer or before the Commissioner (Appeals), the Department must also be given a fair chance to examine and verify the authenticity of the additional evidences furnished by the assessee for deciding the genuineness of the share premium received. - Decided in favour of assessee for statistical purposes
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