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Income Tax - Highlights / Catch Notes

Home Highlights August 2020 Year 2020 This

Addition u/s 68 - share application money & share premium - When ...

Income Tax

August 7, 2020

Addition u/s 68 - share application money & share premium - When it has been categorically proved that there is no physical existence of the said company at the given address the submission of the assessee that his submissions regarding papers submitted in this regard should be given precedence over the actual fact about the non-existence of the said party is absolutely unsustainable - AT

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  1. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

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  3. Addition u/s 68 - non independent application of mind - accommodation entries - share application money - Mere non production of Director of said share holder company...

  4. Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

  5. Share application money - additions u/s 68 - Other than the share application forms, no other agreement between the respondent and third companies had been placed on...

  6. 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...

  7. Addition u/s 69C OR 68 - Addition of share application money - Wrong mention of section - opening balance was carried forward - it is outside the ambit of section 68 - No addition.

  8. 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...

  9. Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

  10. Addition u/s 68 or 56 - Undisclosed income of unsecured loan - share application money receipt - the share application money was received in the financial year 2011-12 -...

 

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