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Income Tax - Highlights / Catch Notes

Home Highlights May 2019 Year 2019 This

Addition u/s.68 - share capital & premium - Nothing on record ...

Income Tax

May 27, 2019

Addition u/s.68 - share capital & premium - Nothing on record suggest any money got exchanged between the assessee and the investor - as per Ld. AO’s finding, the impugned AY was the initial year of business operation of the company and therefore, it is difficult to accept that the assessee accumulated huge unaccounted money which was ploughed back in the shape of share capital / share premium - addition not sustainable

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