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Income Tax - Highlights / Catch Notes

Home Highlights May 2011 Year 2011 This

Even if it be assumed that the subscribers to the share capital ...

Income Tax

May 19, 2011

Even if it be assumed that the subscribers to the share capital were not genuine, such share capital could not be regarded as undisclosed income of the company

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  2. Addition u/s 68 - assessee has substantiated the transaction regarding share application money received by it was genuine transaction and the same were not accommodation...

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  4. Set off of short term capital loss - Transaction in shares - When neither any payment was made nor any delivery was taken, then the transaction can not be held genuine - HC

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