TMI BlogAssessment u/s 153A - Addition u/s 68 - Bogus share application money - nvestors are group companies -...Assessment u/s 153A - Addition u/s 68 - Bogus share application money - nvestors are group companies - the assessee, in the instant case, has discharged the initial burden cast on it by filing the requisite details before the AO, summons u/s 131 were replied, there was compliance to the notice u/s 133(6), the investor companies have shown huge reserves and surplus and own capital. Merely because these companies have taxable income which is less than the amount invested during the year in our opi..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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