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2018 (12) TMI 528 - AT - Income TaxAddition towards share premium u/s 68 - summons issued u/s 131 remained uncomplied and the assessee did not produce the directors of the investor companies before the AO - Held that:- The issue under dispute was the subject matter of adjudication on exactly similar facts by this tribunal in the case of ITO vs Trend Infra Developers Pvt Ltd [2018 (11) TMI 1131 - ITAT KOLKATA] for Asst Year 2012-13, wherein the addition made towards share premium was deleted concluding that only grievance of the AO was that the assessee could not produce the directors of the share subscribing companies In our considered opinion, for this reason alone, there cannot be any addition u/s 68 of the Act as held by the Hon’ble Supreme Court in the case of CIT vs. Orissa Corporation Pvt. Ltd.[1986 (3) TMI 3 - SUPREME COURT] - Decided in favour of assessee.
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