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Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

TP Adjustment - share application money remained parked with AE ...

Income Tax

July 9, 2019

TP Adjustment - share application money remained parked with AE - nothing on record to prove that transaction was sham - TPO could not have treated such transaction as a loan and charged interest thereon on notional basis.

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  3. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

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  10. Reopening of assessment u/s 147 - Addition u/s 68 - unexplained share premium - While recording the reasons for reopening the assessment, the AO did not even care to...

  11. Addition u/s 68 - bogus share capital & share premium - The assessee failed to prove that the transactions of share application money is genuine and the creditworthiness...

  12. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  13. Addition u/s 68 - only obligation of the company receiving the share application money is to prove the existence of the shareholders and for which the assessee had...

  14. Initiation of CIRP - NCLT admitted the application - Financial Creditors - Share Application Money in the event of non-allotment of shares - Loan/Debt or not - Share...

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