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2021 (10) TMI 552 - ITAT MUMBAIAddition u/s 68 - Unexplained loan transaction - no evidences to prove the creditworthiness of the loan creditor and genuineness of the transactions were furnished by the assessee - HELD THAT:- No evidences whatsoever have been filed to controvert the same by the assessee before us. Hence, we hold that the ld. CIT(A) had elaborately discussed the issue in dispute and had observed that assessee had not proved the creditworthiness of the loan creditors and genuineness of the transactions in respect of loans received from M/s. Nakshatra Business Private Limited and Hema Trading Company. Hence, we do not find any infirmity in the order of the ld. CIT(A) in this regard - Decided against assessee. Disallowance of ROC charges - Addition on the basis with the same is related to increase in authorised share capital and hence, it is capital expenditure - disallowance has been upheld by the ld. CIT(A) - HELD THAT:- We find that this issue is no longer res integra in view of the decision of the Hon'ble Supreme Court in the case of Brooke Bond India Ltd. v. CIT [1997 (2) TMI 11 - SUPREME COURT] wherein it was held that fees paid to ROC for increase in authorised share capital is capital expenditure and cannot be allowed as a deduction. Accordingly, the ground No. 2 raised by the assessee is dismissed.
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