Addition u/s.68 of the Act on account of share capital and share ...
Income Tax
March 19, 2021
Addition u/s.68 of the Act on account of share capital and share premium - In the absence of any business activity of a company, which was closed since 2007, we fail to appreciate as to how all the corporate investors coming exclusively from Mumbai and Kolkata would join and invest in the shares of such a company, and that too at a premium of 300% of the face value, which had no running business and further there were no returns on such investment. - AT
View Source
