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Income Tax - Highlights / Catch Notes

Home Highlights August 2021 Year 2021 This

Addition u/s 68 - mistake of introduction of authorized capital ...


Tax Practitioner Error Corrected: Assessing Officer to Remove Unauthorized Capital Addition u/s 68 of Income Tax Act.

August 9, 2021

Case Laws     Income Tax     AT

Addition u/s 68 - mistake of introduction of authorized capital - tax practitioner had made the above inadvertent mistake while filing the return of income which is not the real capital and investment of the assessee. Therefore, we direct the Assessing Officer to delete the addition made under section 68 of the Act. - AT

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