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Income Tax - Highlights / Catch Notes

Home Highlights July 2021 Year 2021 This

Addition u/s 68 - share application money received from 6 ...

Income Tax

July 15, 2021

Addition u/s 68 - share application money received from 6 different companies unexplained - The learned CIT-A did not utter a word in his whole order that what would be the reason for surrender of the sum by the assessee and forfeiture of the share application money immediately in the succeeding year. Therefore we completely agree with the argument of the learned departmental representative that the order of the learned CIT – A does not have any legs to stand. - AT

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