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Income Tax - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Addition u/s 68 - share capital issued at the premium - ...

Income Tax

September 15, 2022

Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the genuineness of the credit of the share capital and premium in its books of account. Once the transaction of share capital and premium thereon held to be genuine, there is no question of any commission expenses for getting alleged bogus entry on account of such transaction. - AT

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