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Income Tax - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Unexplained Income - addition u/s 68 - Receipt of share ...

Income Tax

January 30, 2021

Unexplained Income - addition u/s 68 - Receipt of share application money from group companies - group companies invest in each other - Double additions - In this case huge additions were made in the hands of the share allottee companies in their scrutiny assessment u/s 143(3) of the Act. Again making the addition in the case of the assessee company would tantamount to double addition. - Additions deleted - AT

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